Ilya Strebulaev at the Stanford Graduate School of Business and Director of the Stanford Venture Capital Initiative just came out with a book that should be on your reading list – The Venture Mindset.
The books premise is that Venture Capitalists (who were responsible for the launch of one-fifth of the 300 largest U.S. public companies) have a different mindset then that found in the rest of the business world (and I would add in government agencies.) All these startups could have come from inside an existing company—but they didn’t.
The book answers why that’s so. And why are venture firms good at finding start-ups that turn into unicorns – what are the skills that VC firms have that companies don’t? And most importantly, can you/your company learn those skills?
The Venture Mindset is built around 9 key ideas:
If you’re a founder looking to raise capital, this book will help you understand how VC’s are evaluating your company. (I wish I had read this book at the beginning of my entrepreneurial journey.)
If you’re in a large company or government agency this book will help you understand the difference between “fail-safe” bets needed in sustaining the core business, versus “safe-to-fail” bets, needed in creating new businesses and/or disruptive capabilities.
Definitely worth a read.
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Fail safe and safe to fail are difficult and almost contradictory mindsets. That’s why start ups are needed. Fail safe is not how they think.
One element of our business at Performance Marketing Group (PMGResults) is to assist innovative, technology companies in their fund-raising journey.
Will check this book out – and it has the feel of a no-brainer – in terms of, being applicable to our business.
I humbly seek your advice, please Professor Blank.
I have spent seven years researching this anomaly of why businesses fail continually, and I believe I have an answer with my cashflow forecast strategy prototype.
My prototype is innovative and disruptive, as it shows the three-year forecast of cashflow revenue required continually for businesses to pay all their bills.
It comprises a cashflow forecast Excel workbook and an information manual.
It explains cash flow management and its differences from profit management forecasting.
But I am a retired experienced startup owner who needs to give this prototype to an entity who will commercialise it.
Your advice would be appreciated on who could help and benefit.