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17. Acid Test for Entrepreneurs

Stanford2012-05-17
technology#entrepreneurship#venture capital#business model#target market#acid test#sales#marketing#silicon valley#business#start-up#cash flow#funding#team#engineering#education#culture#mentor#google
12K views|12 years ago
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Henry Wong discusses key aspects of entrepreneurship such as team cohesion, market size, and technology in Silicon Valley. He emphasizes the importance of knowing customers, building connections, and delivering a strong closing statement to secure funding for business deals.

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📊 Transcript
Key aspects of being an entrepreneur discussed by Henry Wong from Garage Technology Ventures.
00:15
Team cohesion and experience are highlighted as crucial elements for success.
Market size and positioning are emphasized, with the need for a large market and a unique solution.
Technology plays a significant role, with barriers to entry and intellectual property being essential.
Insights provided into the essential elements for entrepreneurial success in Silicon Valley.
Importance of networking and building connections in business.
04:36
Utilize the 'old boys network' for introductions to potential customers.
Attend association meetings and seminars to meet the right people.
Send thank-you emails promptly after networking events.
Demonstrate break-even analysis and be prepared to answer financial questions.