Public Notes


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  • Kristan shared from Effectual Entrepreneurship by Stuart Read, Nick Dew, Saras Sarasvathy, Robert Wiltbank, Anne-Valérie Ohlsson
    Consider customers versus lenders versus investors versus co-founders and the ownership and control they enjoy in exchange for their commitment to the venture. Customers might have no ownership of your organization, yet they exert a lot of “control” in the form of influence and leverage, especially early on in the life of your organization.
    Note: Awesome insight from a book I am really enjoying.
  • Kristan shared from Effectual Entrepreneurship by Stuart Read, Nick Dew, Saras Sarasvathy, Robert Wiltbank, Anne-Valérie Ohlsson
    There has been an entire body of academic research around agency theory. The fundamental observation is that owners explicitly don’t control the operation of the firm, they sub contract the control to agents, i.e. the CEO, etc., who exercise that control. It is possible to control a large firm with relatively small amounts of ownership, if any at all.
    Note: Something new analysts in business routinely miss.
  • Kristan shared from Effectual Entrepreneurship by Stuart Read, Nick Dew, Saras Sarasvathy, Robert Wiltbank, Anne-Valérie Ohlsson
    Take, for example, the joke about a barber who routinely called his errand boy the village idiot. To prove his case to skeptical customers, the barber would invite the boy to choose between a rusty dime and a shiny quarter. The boy invariably chose the dime. Finally, it occurred to a customer to ask the boy when he was alone running an errand why he chose the dime over the quarter. And the boy replied, “Choosing the quarter would end the game.”
    Note: Good story. Lots of ways you could use it.
  • Kristan shared from Effectual Entrepreneurship by Stuart Read, Nick Dew, Saras Sarasvathy, Robert Wiltbank, Anne-Valérie Ohlsson
    Fewer than 2 percent of new ventures reach an IPO. 92 percent of ventures exit without outstanding debt. If success is an initial public offering, then 98 percent of ventures fail. If failure is bankruptcy, then 8 percent of ventures fail.
    Note: An intersting perspective on entrepreneurial failure...
  • Kristan shared from Effectual Entrepreneurship by Stuart Read, Nick Dew, Saras Sarasvathy, Robert Wiltbank, Anne-Valérie Ohlsson
    Understanding that you can start small and proceed step by step in the direction you have chosen is critical—not starting at all guarantees you will never build a successful venture.
    Note: One of the most important passages in an important book.