Category: Entrepreneurship

Understanding First Principles Thinking for Entrepreneurs

I am a strong believer in the role of First Principles Thinking and the importance of clear definitions. My background in science has shaped my understanding of the scientific method, which has been invaluable as an entrepreneur and more recently while advising startups and scale-ups.

For those who may not be familiar with the concept of First Principles Thinking, I drew some inspiration from a South African-born entrepreneur

Mastering Your Business: IN vs ON Approach

What’s the difference between: 

‘Working IN your business’ vs. 

‘Working ON your business’?

IN

When: Daily. Usually during ‘office hours’ and week days

Who: With employees/customers/founder

Where: In your office, where you ‘usually’ work. 

ON

When: Rarely. Usually after ‘office hours’ and weekends or planned sessions at conferences, travelling or at a workshop. 

Who: With co-founders and other entrepreneurs. With industry experts who have a fresh and unique perspective. 

Where: Away from your desk, with your customers, at an innovation space. 

In your favourite coffee shop or alone in a quiet space or on a walk. 

A space to think, plan and do. 

IN, revolves around working in your business for the present.

ON, revolves around working on your business for the future.

Finding the Right Cofounder for Your Startup

Cofounder Courtship: How to Find the Right Mate for Your Startup.

Do you need a cofounder?

1️⃣ How could a cofounder balance your skills and experience? 

2️⃣ Is domain expertise critical for your venture?

3️⃣ Most importantly, do you value partnership, shared risk, and collaboration with others?

The Cofounder Courtship:

1️⃣ Conduct a listening tour by meeting other startup cofounders. 

2️⃣ Write a cofounder job description and include experience, skills, and the ideal softer characteristics you seek in this person.

3️⃣ Try to meet at least 6 people at once. 

4️⃣ Test the relationship beyond coffee chats and dinners.

5️⃣ Have vulnerable conversations. 

6️⃣ Meet each other’s partners/families/colleagues. 

So the loss of a founder break-up would have bigger repercussions. They met as their girlfriends (now wives)  were best friends.

Also I suggest doing personality assessments to see how your profiles match/mismatch.)

The Power of Optimism in Leadership

Optimism and the ability to see the Opportunity.

Important traits to have as an entrepreneur and leader. 

You can’t lead, sell or grow if you are pessimistic and only see the problems. 

Surround yourself with positive, optimistic and realistic people. 

You are the average of the 5 people you surround yourself with. 

I always try to be the most positive and optimistic person in the room or on zoom. 

Who is your tribe of 5 (influencers and colleagues)? 

Feel free to acknowledge their positive impact to you in the comments.

Entrepreneurship at INSEAD and Harvard Business School

Congrats INSEAD (most founders in Top 10 in 2022) Stanford University Graduate School of Business (Most over the past 5 years) & Harvard Business School (2nd most over the past 5 years).

“INSEAD was started as an entrepreneurial venture and has grown into an internationally recognized business school for the world. Over 50% of the school’s MBA graduates become an entrepreneur or engage in entrepreneurial activities during their career – it is built in our DNA. 

Of the 100 startups that attracted the most funding from angel investors and venture capitalists over the last five years, Stanford claims 43 – up from 39 in 2021. It is the highest number of startups from a single school, and it continues an upward trend for the school centered in the heart of Silicon Valley. Stanford posted 34 startups in 2020 and 39 in 2019.

Harvard Business School had the second most startups from MBA or EMBA founders at 23. That’s up from 19 last year which was the lowest number the school had had in the list’s history. In 2016, Harvard had 42 startups, but its numbers have fluctuated since, claiming between 21 and 26 per year.”

Would be interesting to have research done on the alma mater of the funders. 

 This would validate if it’s a network, course material or endorsement/signalling thing? I would hypothesize it’s 5-20% Alma mater, 10-20% Course and  50-65% signalling, 10-20% Other.