Just came back from a fascinating panel discussion hosted by Venture Lab (VLAB) at Stanford’s School of Business. It was standing room only – which is to be expected when the speakers were from Google (Marissa Mayer) and IDEO (Tim Brown)! There was a third speaker too (Randy Komisar), whose present company was not notable, but he has had a hand in the development of too many super sucessful Silicon Valley startups to start to name them all.
I felt like a kid in 5th grade – my hand waving violently at the discussant to PICK ME for a question. I think I even said “Oh, oh” in that annoying eager student way.
But sigh…I didn’t get picked.
Anyway – the take away messages were (drum roll plse): PIVOT (meaning don’t be afraid to change course and deviate from your original business plan); FOCUS on USERS (as opposed to product; but also on user testing); SMALL and SIMPLE (take small, simple steps so that you learn things/make mistakes without spending too much); BE FLEXIBLE (related to small and simple – less monetary investment makes it easier to change, and to implement changes fast); PROTOTYPE and EXPERIMENT (and learn from both)
You heard it from the top. I just saved you $150 grand for business school 🙂
Ok, got it. I guess this means that DVDs are in ShinyArt’s immediate future plans. Not exactly what I had in mind originally, but let’s test if the Google/IDEO/Startup people really know what they are talking about…..