Gurus in the Garage
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Transcript of Gurus in the Garage
Dorothy Leonard and Walter Swap, 2001
GURUS IN THE GARAGE
By B. Swetha Mahesh Dhumale P. MadhusudhanReddy
It all starts withEntrepreneurs
Dorothy Leonard and Walter Swap, 2001
The Entrepreneur(s)
Dorothy Leonard and Walter Swap, 2001
Plus Money VCs and/or Mentor Capitalists (Smart Angels)
The Entrepreneur(s)
Dorothy Leonard and Walter Swap, 2001
How Important are Angel Investors?Venture Capitalists* $50 BB annually $4.8 BB for 1,122 early-stage firms $10.1 BB follow-on investments to existing portfolio companies Angel Investors* $50-100 BB annually $15 BB for 60,000 early-stage firms
*Angel Investing Mark Osnabrugge, Robert Robinson San Francisco: JosseyBass, 2000
Dorothy Leonard and Walter Swap, 2001
Who Are the Mentor Capitalists (Smart Angels) in Silicon Valley? Experienced, cashed-out entrepreneurs Familiar with both success and failure Motivated to give back--and earn a return on their time
Dorothy Leonard and Walter Swap, 2001
Plus Knowledge/ExpertiseVCs and/or Mentor Capitalists
The Entrepreneur
Dorothy Leonard and Walter Swap, 2001
Modes of Mentoring* Directed action: Learning by doing Modeling: Learning by observing Socratic method: Questioning Story-telling Rules of thumb Specific directives
*Dorothy Leonard and Walter Swap, Gurus in the Garage Harvard Business Review November/December, 2000.
Dorothy Leonard and Walter Swap, 2001
Mentor Roles: Expertise in Entrepreneuring* Sculptor: Shaping the value proposition and the product concept Psychologist: Normalizing and cheerleading Diplomat: Negotiating with stakeholders King-Maker: Executive coaching and firing*Dorothy Leonard and Walter Swap, Gurus in the Garage Harvard Business Review November/December, 2000.
Dorothy Leonard and Walter Swap, 2001
Other Roles: Expertise in Entrepreneuring* Recruiter: Assembling talent Process Engineer: Structuring systems Rainmaker: Raising money
*Dorothy Leonard and Walter Swap, Gurus in the Garage Harvard Business Review November/December, 2000.
Dorothy Leonard and Walter Swap, 2001
Mentors Also Bring Know-whoVCs and/or Mentor Capitalists Mentors Network
The Entrepreneur
Dorothy Leonard and Walter Swap, 2001
The Criticality of Know-Who
The Expansion Coefficient for Knowledge is the number of other experts you know--and stay in contact with.
Dorothy Leonard and Walter Swap, 2001
Values Enable Innovation
Dorothy Leonard and Walter Swap, 2001
NKV a Powerful Combination The Knowledge is deep expertise that guides decision-making The Network links the team members to knowledge outside the group
Dorothy Leonard and Walter Swap, 2001
A Few Observations Mentoring/Coaching more important to the economy than usually recognized. Expertise in intrepreneuring not nurtured in large companies the way that entrepreneuring is in small companies.
THANK YOU