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If You Really Want to Change the World

This presentation consists of highlights from the interview with Moe Abdou,

founder & host of 33voices®.

Norman Winarsky was President of SRI Ventures at SRI Interna-tional, a world-renowned research institute.

Henry Kressel served as a senior partner and managing direc-tor at Warburg Pincus, a leading global private equity firm, for

more than thirty years.

Norman Winarsky & Henry Kressel

@normanwinarsky

Co-authors of ‘If You Really Want to Change the World

Observe the most successful breakthrough ventures and you’ll

notice these four ingredients:

Insight #1

Observe the most successful breakthrough ventures and you’ll

notice these four ingredients:A large market opportunity with

potential for rapid growth

Insight #1

Observe the most successful breakthrough ventures and you’ll

notice these four ingredients:An outstanding team capable

of execution

Insight #1

Observe the most successful breakthrough ventures and you’ll

notice these four ingredients:A differentiated technology or business

solution that trumps the competition

Insight #1

Observe the most successful breakthrough ventures and you’ll

notice these four ingredients:A value proposition and business plan that

articulate the company’s value, strategy, and plan to attract the required capital

Insight #1

Insight #2

Pursue bigger problems:Market pain = Market opportunity Greater pain = greater opportunity

Insight #3

A good way to think of a product is that it is a representation of the genius of the people

who created it. A great team can create a great product. A mediocre team will always create a mediocre product.

Insight #4

The start-up team needs to have theleadership, market and operational skills necessary to execute the plan. They’re

different than management teams in that:

Insight #4

The start-up team needs to have theleadership, market and operational skills necessary to execute the plan. They’re

different than management teams in that:They get paid less, having their ultimate

financial reward tied to equity

Insight #4

The start-up team needs to have theleadership, market and operational skills necessary to execute the plan. They’re

different than management teams in that:They are problem solvers and risk takersnot dependent on the infrastructure of a

big company to get their job done.

Insight #4

The start-up team needs to have theleadership, market and operational skills necessary to execute the plan. They’re

different than management teams in that:They expect to work day and night,

seven days a week

Insight #5

You can’t build a great company without great leadership. Famed venture capitalist, Vinod

Khosla bets on CEOs with bold visions:

“It’s not about people who have focus groups to determine products - which reduces

everything to mediocrity…” he said “…It’s not about consensus or common opinions. Steve jobs famously ignored consensus advice. The development of really new product concepts is done by vision, not by process. It’s about

vision, passion, and the courage of convictions.”

Insight #6

Beware of the Pivot, for as Mike Moritz once said,

“pivot means you’ve failed. It’s not that you shouldn’t have to move on sometimes,

but it shouldn’t be a strategy.”

Insight #7

When raising capital, it’s wise to focus on a few early investors, and add others once as the initial group opts out. During

your first discussion, tailor your presentation to answer these three questions:

Insight #7

When raising capital, it’s wise to focus on a few early investors, and add others once as the initial group opts out. During

your first discussion, tailor your presentation to answer these three questions:Do you have a compelling vision

and value proposition?

Insight #7

When raising capital, it’s wise to focus on a few early investors, and add others once as the initial group opts out. During

your first discussion, tailor your presentation to answer these three questions:

Are you and your team passionate and unrelenting in your commitment

to the vision?

Insight #7

When raising capital, it’s wise to focus on a few early investors, and add others once as the initial group opts out. During

your first discussion, tailor your presentation to answer these three questions:Are you and your team capable

of executing?

Insight #8

The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:

Insight #8

The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:

Failing to know your customer

Insight #8

The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:

Keeping the wrong CEO

Insight #8

The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:

Mismanaging finances

Insight #8

The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:

Being overconfident

Insight #8

The most common venture killers are avoidable. Here are five fatal mistakes of start-ups:

Failing to anticipate future industry developments

Insight #9

Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:

Insight #9

Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:

Start at the top and encourage your team to take risks

Insight #9

Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:

Know how to manage exceptionally creative people by transforming their

ideas into commercial value

Insight #9

Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:

Establish a culture that motivates and innovators

Insight #9

Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:Establish a common language and process

Insight #9

Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:

Create centers of innovations to assess opportunities in the marketplace

Insight #9

Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:

Encourage innovation at all levels

Insight #9

Too many companies fail to renew themselves, and slowly die. Follow these seven principles to ensure the future of your venture:

Innovate continuously

Insight #10

If you set out to build a truly enduring business,

remember these words from Pericles, “What you leave behind is not what is

engraved in stone monuments, but what is woven into the lives of others.”

Reflect: What criteria do you use for selecting a capital partner?

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Presentation created by Chase Jennings

Insights by Moe Abdou

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