E145/STS173 High-Technology Entrepreneurship Session 20 Class Summary E145/STS173 High-Technology Entrepreneurship Session 20 Class Summary Professors Tom Byers and Randy Komisar Stanford University Copyright © 2004 by the Board of Trustees of the Leland Stanford Junior University and Stanford Technology Ventures Program (STVP). This document may be reproduced for educational purposes only.

Agenda Agenda Recalling course objectives Next steps in entrepreneurship education Giving thanks

Recall Our Three Course Objectives 1. Understand entrepreneurial leadership and its process in high-technology industries. Dispel common myths and misconceptions. 2. Learn skills important for 21st century technology leaders. 3. Stimulate continuous learning and personal reflection regarding entrepreneurship and your future.

Examining the High-Tech Entrepreneurship Process

Our Major Concepts and Frameworks Sahlman's “concept of fit” model: People - Opportunity - Context - Deal Dorf and Byers’ “from opportunity to profitability” dynamics: Vision – Strategy - Execution Komisar's 3 Q's every VC wants to know: Big market + Winning strategy + Excellent team Kaplan's Silicon Valley game: Entrepreneurs trade stock for ideas, talent and capital. Moore’s technology adoption cycle and chasm model: Entrepreneurial marketing strategy must adapt over time. Byers and Komisar’s ABC’s of human and financial resources: Great teams and venture financing

Learning by Doing Critical thinking through case studies. Teaching of basic terminology and concepts through the text and workshops. Teamwork through the opportunity analysis project. Career planning through the personal business plan.

Seven Important Skills for Tomorrow’s Entrepreneurial Leaders Stressed in E Creativity and Opportunity Evaluation 2. Real-time Strategy and Decision Making 3. Comfort with Change and Chaos 4. Teamwork 5. Evangelism, Selling, Negotiation, and Motivation through Influence and Persuasion 6. Oral and Written Communication 7. Basics of Start-Up Finance and Accounting

Next Steps in Entrepreneurship Education? 1. Visit for more courseshttp://stvp.stanford.edu 2. Visit free ETL lectures in person or view on the web at 3. Join any of the campus e-ship student clubs 4. Attend campus and Silicon Valley events regarding entrepreneurship 5. Review all E145 materials 6. If you move to another area, seek out or create your own learning opportunities 7. Most of all … think and act like an entrepreneur!

Many Thanks To Our Distinguished Guests To Our Teaching Assistants To All of the Students