Date: Tue, 21 May 2013 15:14:45 +0200
I had a chance to attend the Tie Entrepreneurial Summit in Bengaluru, as soon as I came to India for Christmas, this time. One great bit I liked in the whole summit was the “Guru Talk”. These were Q&A sessions for a small set of people with some of the most successful entrepreneurs from various sectors. These entrepreneurs shared their thoughts and their success stories.
I got a chance to attend 3 “Guru Talks”. I specifically asked questions around team and the right team composition. Their responses on that and other issues are listed below. One common thing I found among all the entrepreneurs was that they highlighted the importance of finding the “right team”.They were willing to fire the wrong choices as soon as they realized their mistake and were ready to move on.
The entrepreneurs who talked are Gururaj Desh Deshpande, Founder of Sycamore networks, Scott Cook, Founder of Intuit and Naren Gupta, Vice-Chairman Wind River Systems.
1) Team is the magnet. Find time to find the “right team”.
2) Watch people’s behavior and not just their words.
3) Team sets the ceiling. Get the right idea and then find people.
4) As a startup, DO NOT HEDGE. Do not follow too many ideas.
5) Fire dissenting voices that pull the organization back.
6) If the person is not a part of the “long term plan”, let them go.
7) If associates who are good but are threatening or disruptive, let them go.
Watch out for people’s careers. Take care of the secretaries and admin folks well.
9) Keep it simple.
10) For senior managers, risk taking is essential, but it should be result focused.
11) Be proactive in customer responsiveness.
I can elaborate on each of these, but I will let the readers come to their own conclusions.