2008年3月24日星期一

Problem Solvers

High Tech Entreprenuers are problem solvers. I have listened to most episodes in Stanford Entrepreneurial Thought Leadership program, and this definition appeared again and again. Seasoned entrepreneurs see problems as opportunities and adopt systematic strategies to tackle them. Look at most revolutionary ideas, they all attempt to solve a burning problem. Google helps to search/organize huge amount of information on the web, otherwise it is a pain to browse through the directories. RSS pushes the information to the user automatically, otherwise it is a pain to hop from one blog to another. Graphical User Interface presents the information more vividly, otherwise it is a pain to read static dry texts ... The bigger the pain, the more significant the problem, the more attractive the business opportunity. 

Problems could be even seen beyond the consumer level. What are the most urgent world problems today? Poverty, energy depletion, environment, religious conflict, deadly disease ... To name a few. These problems imply vast social and business benefit. Technologists who manage to solve these problems would become the next generation of legends. Internet was an example in the past, it solves the problem of global communication and raises up a new battle ground. However, problems on the Internet landscape are becoming incrementally smaller today. But in other fields, problems are pervasive. E.g., say environment. Environment issue is hot and will become hotter tomorrow. Telsa Motors attemps to solve this problem by rolling out electronic cars. Old solution, new technology, right timing and abundant social attention, bang! Potentially a phenomenal success story. 

To be a problem solver is to promote a way of thinking. Start from the problems, analyze the opportunities, decompose the problems, and tackle the pieces one by one. To be a problem solver implicitly implies to carry more responsibility and tackle the difficulties for others. It is for the consumers; it is for the local ecosystem; it is for the country; and it is even for the world - if you live in the valley. There are plenty of problems in China today, the new generation of Chinese high tech entrepreneurs maybe should inherit from this spiritual root, and assume bigger responsibilities in the money-making mission statement. From a pragmatic perspective, it is "politically right" in China of assuming responsibilities.

2008年3月21日星期五

Elements of Sustainable Companies (From Sequoia Capital)


Start-ups with these characteristics often foretells the success of a business and the likelihood of it becoming a sustainable, enduring company. We like to partner with companies that have:

Clarity of Purpose

Summarize the company’s business on the back of a business card.

Large Markets

Address existing markets poised for rapid growth or change. A market on the path to a $1B potential allows for error and time for real margins to develop.

Rich Customers

Target customers who will move fast and pay a premium for a unique offering.

Focus

Customers will only buy a simple product with a singular value proposition.

Pain Killers

Pick the one thing that is of burning importance to the customer then delight them with a compelling solution.

Think Differently
Constantly challenge conventional wisdom. Take the contrarian route. Create novel solutions. Outwit the competition.

Team DNA
A company’s DNA is set in the first 90 days. All team members are the smartest or most clever in their domain. “A” level founders attract an “A” level team.

Agility
Stealth and speed will usually help beat-out large companies.

Frugality
Focus spending on what’s critical. Spend only on the priorities and maximize profitability.

Inferno
Start with only a little money. It forces discipline and focus. A huge market with customers yearning for a product developed by great engineers requires very little firepower.