AEM1230-1109ToPost - AEM1230 Foundations of...

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AEM1230 Foundations of Entrepreneurship and Business Monday 11/9 The Founding Team Managing the founding team Managing group decision making Managing stress
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Paul Joseph
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Paul Joseph One of my better clients was just acquired by Sun Microsystems last year. That team was a founding team of four individuals. They started from zero in January of 2000. Okay? In the three years, you know, when technology was in dire straits and the economy sucked, in that three years they created enough value to sell out for almost $200 million. From nothing to $200 million in three years during a bad economy. Why? Very smart. Four people. They came from industry. They were all hired by -- employed by IBM or a division of IBM prior to starting this company. The first thing they did when they started working with my team is step back and they said we have some ideas but we're not going to make a decision until we're sure about those ideas. We need this process to do that and that's what they did. So as a team, the engineer, the CEO, the CTO and the marketing guy all got together and asked the same questions of their market and learned with us in parallel, they doubled the volume of research that we did over that six months because they were doing the work as much themselves as our team. Okay? So a common experience is absolutely critical I think to executing.
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Forming Founding Team Choose cofounders wisely Secure help from outsiders Develop strong working relationships
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Success of Founding Team Prior experience in industry
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This note was uploaded on 08/12/2010 for the course AEM 1230 at Cornell University (Engineering School).

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AEM1230-1109ToPost - AEM1230 Foundations of...

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