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"Full of powerful, practical lessons on changing how we think and act." –Eric Schmidt, former CEO and Chairman of Google "Many principles mentioned in the book helped us build Zoom, and they will help you as well." –Eric S. Yuan, Founder & CEO, Zoom
Inspired by venture capitalists’ unique way of thinking, The Venture Mindset offers a transformative playbook for delivering results in a rapidly changing world from a top Stanford professor and a technology executive.
Venture capitalists are known for their extraordinary ability to spot opportunities. They know how to identify emerging trends, how to bring new industries into being, and when to hold them and when to fold. Their unique mindset has made them the force behind world-changing companies such as Amazon, Google, Moderna, SpaceX, and Zoom.
Stanford Professor Ilya Strebulaev has devoted two decades to studying VCs’ counterintuitive approaches to decision-making and the reasons behind the successes and failures of corporate innovations. Alex Dang has witnessed up close how VCs’ thinking and mechanisms can create successful businesses at companies like Amazon and McKinsey.
Combining their insight and extensive experience, they present nine distinct principles that will help you make better decisions, transform your business, and achieve remarkable results, no matter your industry.
In The Venture Mindset, you’ll learn:
• One question VCs ask that will change the way you evaluate opportunities • Why you should encourage dissent and be wary of consensus • The number one killer of innovation in traditional corporate environments • Why it’s crucial to learn when to ‘pull the plug’ on initiatives • Why failure is not just an option, but a necessity
Packed with entertaining stories and scientific precision, The Venture Mindset is a must-read for anyone who wants to be better equipped for the era of uncertainty when industry, company, and career can be disrupted overnight. The Venture Mindset will teach you more than how to simply survive. It’ll teach you how to win big.
"Full of powerful, practical lessons on changing how we think and act." –Eric Schmidt, former CEO and Chairman of Google "Many principles mentioned in the book helped us build Zoom, and they will help you as well." –Eric S. Yuan, Founder & CEO, Zoom
Inspired by venture capitalists’ unique way of thinking, The Venture Mindset offers a transformative playbook for delivering results in a rapidly changing world from a top Stanford professor and a technology executive.
Venture capitalists are known for their extraordinary ability to spot opportunities. They know how to identify emerging trends, how to bring new industries into being, and when to hold them and when to fold. Their unique mindset has made them the force behind world-changing companies such as Amazon, Google, Moderna, SpaceX, and Zoom.
Stanford Professor Ilya Strebulaev has devoted two decades to studying VCs’ counterintuitive approaches to decision-making and the reasons behind the successes and failures of corporate innovations. Alex Dang has witnessed up close how VCs’ thinking and mechanisms can create successful businesses at companies like Amazon and McKinsey.
Combining their insight and extensive experience, they present nine distinct principles that will help you make better decisions, transform your business, and achieve remarkable results, no matter your industry.
In The Venture Mindset, you’ll learn:
• One question VCs ask that will change the way you evaluate opportunities • Why you should encourage dissent and be wary of consensus • The number one killer of innovation in traditional corporate environments • Why it’s crucial to learn when to ‘pull the plug’ on initiatives • Why failure is not just an option, but a necessity
Packed with entertaining stories and scientific precision, The Venture Mindset is a must-read for anyone who wants to be better equipped for the era of uncertainty when industry, company, and career can be disrupted overnight. The Venture Mindset will teach you more than how to simply survive. It’ll teach you how to win big.
Due to publisher restrictions the library cannot purchase additional copies of this title, and we apologize if there is a long waiting list. Be sure to check for other copies, because there may be other editions available.
Due to publisher restrictions the library cannot purchase additional copies of this title, and we apologize if there is a long waiting list. Be sure to check for other copies, because there may be other editions available.
Excerpts-
From the coverPREFACE
What is the next big thing that will transform industries, make established companies redundant, and change the world? This book is about the people who answer these questions for a living. They are venture capitalists (VCs), the masterminds behind the most innovative organizations surrounding us. Every day, VCs seek and find innovative ideas. And they do so with extraordinary success. They identify big ideas and amazing teams and help to turn them into Amazon, Apple, Google, Tesla, Netflix, Moderna, or SpaceX. VCs find and fund the future.
But this book is not about how to be a successful venture investor. It’s about how every decision maker—in any sector—can up their game and help their company reach new heights by learning from venture investors, those masters of innovation. This book teaches you to spot new opportu- nities, nurture the right talent, foster a culture of innovation, and take calculated risks in order to achieve extraordinary growth. How? By developing and using the Venture Mindset.
The Venture Mindset is a new mental model where failure is a must, due diligence is put on its head, dissent is encouraged, ideas are rejected in their myriads in search of a single winner, plugs are pulled, and time horizons are extended.
We, a Stanford professor and a technology executive, have studied the Venture Mindset for many years and have identified ways to apply it in organizations that want to leap forward and outrun the competition. Over the last decade we have developed the Nine Principles of the Venture Mindset and created a Playbook to introduce these principles to any organization.
We wrote this book in Silicon Valley, where the heartbeat of innovation is heard loud and clear, but it is intended for people far beyond this innovation epicenter. Disruptive innovation knows no borders and should not be limited to VC funds and VC-backed companies.
Now is the time for you to use the Venture Mindset to find and fund the next breakout success, no matter your industry or geography. In a small factory or an office tower. In marketing or in supply chain. What matters the most is the right mindset. The Venture Mindset.
INTRODUCTION What is Saasbee and why does it matter?
It was November 2012, and three venture capitalists, Sachin Deshpande, Patrick Eggen, and Nagraj Kashyap, were facing a decision: Should they invest $500K in a small startup called Saasbee?
Earlier in the year, through the prolific Silicon Valley angel investor Bill Tai, Kashyap was introduced to the founder of Saasbee, who was promising to revolutionize the way people did videoconferencing in the post-PC era. The name Saasbee came from SaaS, which stands for “software as a service,” plus the hardworking insect. Kashyap led Qualcomm Ventures, the investment arm of a large semiconductor manufacturer, charged with putting money into promising startups. At Qualcomm’s headquarters in San Diego, Kashyap and his team invested in more than 300 startups all over the world. One day the team would evaluate nano-technology in Korea; the next, they might be trying to make sense of a Brazilian software startup. Kashyap was accustomed to hearing extraordinary claims of guaranteed success from every single entrepreneur he met. Was this time different?
In 2012, the competition in video communications was already tough. WebEx, a unit of Cisco, a telecommunications giant, was a mighty incumbent with millions of registered users. Skype had been purchased by Microsoft the previous...
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