Talks by Guy Kawasaki - Part 2

Be a Mensch

  • Mensch is a Yiddish word for a person who does not look for a payoff to serve others. He does it out of altruism.
  • Menschs treat everyone with respect.
  • It is about integrity and doing things right and the right way.
  • Parents teach us integrity but growing up, integrity becomes relative.
  • In the end, you are judged by how much you made the world better.
  • You have a moral obligation to pay back society.
Entrepreneurs, Then and now
  • In the 90s Entrepreneurship was about cleverness. 
  • It was about disintermediating brick and mortar.
  • Today it is about technology.
  • If I am clueless about your technology, it is a good sign.
  • Companies of the past wanted to build a brand.
  • Today it is about winning the business. (We have moved from Power Point to Excel and plain accounting)
  • Financing was about grabbing an audience and figuring out how to raise money.
  • Now, it is about bootstrapping. Sell your beta versions to do it.
  • Back then it was MBAs with German Cars.
  • Today the key employee is an engineer.
  • Kawasaki's law: Every engineer is work 1/2 a million. Every MBA is worth -1/4 million.
  • Getting the word out then was with advertising. Today it is about PR. Get others to say good things about you.
  • It is about Evangelism, selling them a dream, to make the world a better place.
  •  Apple is doing well because of its  evangelists.
  • The scope at that time for a company was global. It is about acting local. It is about getting sales in your local area.
  • Business development was about alliances back then. Noone had a decent business models. 
  • Today it is about revenue. 
  • Raison the etre of the company was about liquidity.
  • Today it is about passion. 
  • The big picture then was about buiding something big. This is the same. Do something 10 times better not 10% better. It is better to fail at something grand than to fail at something marginal.
  • 10 slides
  • 20 minutes: A windows laptop will take 40 mts to work with a projector.
  • Your smallest font should be 30. This would mean less text and it forces you to know your material.
  • It is hard to raise money. You may never do it.
  • Bootstrapping must be in the DNA of a company.
  • It is worse to have too much money than too little money.
  • Yahoo and Google did it with no money, either with a good business model or by evangelism.
  • If you do get VC money. take it but do not spend it.

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