Socrates

1

• Socrates Greek Philosopher

2
(No Transcript)
3
(No Transcript)
4

• Socrates and young man walking towards the river

5

• Socrates ducked
• him into water
• and boy is
• struggling to get out. But he kept
• him in water till
• be turned blue

6

• Young man gasp and takes a deep breath of Air

7

• Socrates what did you want the most when you
  where there?
• Boy Air
• Socrates that is the secret to success. When
  you want success as badly as you wanted air, then
  only you will get it

8

• There is no other secret.A burning desire is
  the starting point of all accomplishment.
• Just like a small fire cannot give much heat, a
  weak desire cannot produce great results.

9
Building success into a high-tech start-up
John T. Preston
10

• How one organize a start-up company is more
  important than the product in determining the
  success or failure
• Attitude
• Management Teams
• Passionate Behavior
• Investors
• Investment Timing
• Securing patents

11
Attitude

• James Utterback, his friend from MIT was looking
  for radical innovation taken place in past 100
  years
• And found no case in which market leader
  pioneered radical innovation thinking that it
  would cannibalize there existing products
• Eg Software program 1-2-3 designed by Mitch
  Kapor, a student and offered to IBM but they
  missed the opportunity Paid 15000 times more
• Eg William Orton rejected an offer to buy
  Alexander Graham Bells telephone patent for
  100,000 and described the invention as a
  scientific curiosity that would never have
  practical use.

12
Management Teams

• Entrepreneurial behavior succeeds more often
  when performed by teams of complementary skills
• A 30 year study found success increases
  dramatically with team size 4-5 entrepreneur
  founding the company
• He observed that first-rate managers hire first-
  rate team but second-rate managers hire
  third-rate

13
Passionate Behavior

• Passionate people overcome barrier
• One key difference between Japan or European is
  that US company are much generous in giving stock
  options to their employee ie it gives sense of
  ownership
• Eg Southwest Airlines pilot, copilot flight
  attendant clean the plane as they dont want to
  waste money by hiring cleaning crew.
• Eg Sanjeev Bikhchandani, CEO of Naukri.com gave
  5 to his brother while he wanted to buy server,
  7 to programmer to develop a web-site and 9 to
  his friend for working with him

14
Investors

• Key determents
• 1. The quality of investors and the pace at which
  money flows
• 2.Venture capitalists and whether they can
  provide adequate access to more money downstream.
  

15
Investment timing
16

• A curve shows strategy of putting a small amount
  of money into company over long time and hoping
  it goes positive
• radical innovation
• 2 problem
• Management spends time raising money instead of
  building money
• A wide window of opportunity is opened for
  competitors
• B curve enter and capture the market
• incremental innovation

17

• Thank You !!