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9-23-08 - Entrepreneurship I Class Notes RANDY HAYKIN CASE...

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Entrepreneurship I – Class Notes – 9/23/08 RANDY HAYKIN – CASE STUDY TELL ME ABOUT RANDY HAYKIN Haykin was so busy doing entrepreneurial activities that he didn’t have much personal time WAS FAMILY AND WORK-LIFE BALANCE VERY IMPORTANT TO HIM? VERY IMPORTANT TO RANDY It’s very hard to have a balanced life as an entrepreneur Balance is very difficult if you are the leader of an entrepreneurial team o Working 60-70 hours per week o You give up a lot of personal balance o You don’t sleep IS THIS REALIISTIC FOR AN ENTREPRENEURIAL CEO? NO WHAT WAAS RANDY’S GOAL? He wanted to be the CEO of a successful Tech company? Realistic? o He was really smart o What did he do at Apple He started in sales Best CEO’s have sales and marketing background – because they KNOW the customer He made a lot of contacts as lead marketer o He had hands on experience with the customer Very important Good businessmen listen to the needs of the customer IMPORTANT – RESEARCH Market research Being successful – finding a solution to a problem in a large and growing market Not too many competitors
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WHAT DID HE DO AFTER BUSINESS SCHOOL? At Apple, Randy was working in Research and Development o Multimedia development o What year was he doing this – Mid 1990s (1993) o INTERNET – Convergence of devices, software, hardware etc. GOOD OPPORTUNITY WHAT DID HE LEARN AT APPLE? Epiphanies: o A lot of hours o 60% of time on the job o 40% of the time convincing people you’re doing your job Randy saw inter-office politics o People don’t make decisions based on what the best decision, they make decisions as a function of how they will look by making that decision o Randy had to deal with political garbage every day He was trying to help develop a multimedia toolkit for Apple computers so that people can create multimedia on their computers o This is a reason he got into entrepreneurship
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