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Jeff Bezos explains why the first thing to do before starting a company is write a business plan “That blank sheet of paper stage is one of the hardest stages. And one of the reasons it’s hard is because at that stage, there’s nobody counting on you but yourself....

60,004 次观看 • 2 年前 •via X (Twitter)

6 条评论

Startup Archive 的头像
Startup Archive2 年前

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Career Geek 🤓 | Career Soft Skills 的头像
Career Geek 🤓 | Career Soft Skills2 年前

Jeff is such a huge proponent of using writing to express your thoughts clearly. At Amazon, he abandoned PowerPoints and forced all meetings to have a clearly written six-page memo. At the start of the meeting, everyone would be handed the memo and read silently for 15 minutes.

Gennaro 的头像
Gennaro2 年前

“The business plan won’t survive its first encounters with reality”

Ozy 的头像
Ozy2 年前

This man is the most clear thinker and illustrator. His summation of actionable points and the after effect are on display when he communicates, he must be super fast at iterating thought.

Startup Archive 的头像
Startup Archive2 年前

This is one of my favorites:

Lily Davids 的头像
Lily Davids2 年前

Love the insights he shared

相关视频

Q: Does my startup need a business plan? In this clip from the Acquired podcast, NVIDIA founder & CEO Jensen Huang shares that he had no idea how to write a business plan when he first started the company. However, he believes business plans can be useful for teasing out important ideas before making the leap: “I think that the art of writing a business plan ought to be much, much shorter. It should force you to concisely answer: What is the problem you’re trying to solve? What is the unmet need you believe will emerge? And what is it that you’re going to do that is sufficiently hard that when everybody else finds out it’s a good idea, they’re not going to swarm it and make you obsolete?” Marc Andreessen echoes similar points in a separate interview: “The process of planning is very valuable for forcing you to think hard about what you’re doing, but the actual plan that results from it is probably useless. In particular, now that we’re VCs, we’re evaluating pitches and when people come in, we want to hear their plan and we want to hear it in some detail because we want to see that they can think about the entire thing end-to-end. And if their initial plan doesn’t make sense, then obviously there’s an issue because they’re not quite capable of fully thinking this through. But when you get somebody who comes in and they present you the perfect plan and everything is fully integrated and makes sense, all you know from that is that they can come up with a good plan—which is good! But the odds that will be the plan they succeed on is still very small.” In a Twitter thread last year, Paul Graham wrote: “I have never read a business plan or a balance sheet… The reason I don’t care about business plans is that I can learn more from 5 minutes of interrogating the founders than from 10 pages of fluff they’ve written.” The takeaway here is that plans are valuable but you probably shouldn’t spend six months writing some long document with extensive financial forecasts before getting started. Instead, concisely define the problem you’re trying to solve—ideally this is a problem you’ve experienced personally or have some connection to. Talk to potential customers to validate your core assumptions—is this problem even real or worth solving? And think hard about what makes you uniquely qualified to work on this problem and what your competitive advantage might be versus other entrepreneurs in your space. This is your business plan. Write it down if you need to—writing can be a good forcing function for clear thinking—but you don’t need an extensive, formal document with forecasts. The plan will probably change before the ink is dry. Your time will be better spent shipping a quick MVP to see if you can actually solve this problem for just one person. Once you have your first customers of any kind, you have a startup.

Michael McGuiness

83,436 次观看 • 2 年前

NVDIA CEO Jensen Huang: Your startup doesn't need a business plan “I didn’t know how to write a business plan… Making a financial forecast that nobody knows is going to be right or wrong turns out to not be that important.” Jensen continues: “I think that the art of writing a business plan ought to be much, much shorter. It should force you to concisely answer: What is the problem you’re trying to solve? What is the unmet need you believe will emerge? And what is it that you’re going to do that is sufficiently hard that when everybody else finds out it’s a good idea, they’re not going to swarm it and make you obsolete? It has to be sufficiently hard to do.” Marc Andreessen echoes similar points in a separate interview: “The process of planning is very valuable for forcing you to think hard about what you’re doing, but the actual plan that results from it is probably useless. In particular, now that we’re VCs, we’re evaluating pitches and when people come in, we want to hear their plan and we want to hear it in some detail because we want to see that they can think about the entire thing end-to-end. And if their initial plan doesn’t make sense, then obviously there’s an issue because they’re not quite capable of fully thinking this through. But when you get somebody who comes in and they present you the perfect plan and everything is fully integrated and makes sense, all you know from that is that they can come up with a good plan—which is good! But the odds that will be the plan they succeed on is still very small.” Video source: Acquired Podcast (2023)

Startup Archive

34,028 次观看 • 8 个月前

Vinod Khosla on the right way to execute a business plan Vinod Khosla, who founded Sun Microsystems and Khosla Ventures, likes to say: “Be obstinate about your vision, but be really flexible about your tactics.” He explains what he means by this: “It’s important to have a vision of where you’re trying to go, but how you get there is a series of experiments… What entrepreneurs do is effectual reasoning. They have a big vision, but they don’t try and get there in one leap… You take a step in the right direction so you can garner more resources and then try the next experiment… You try and garner resources for the next step, every step — not do the whole thing in one step.” This, Vinod believes, is one of the reasons raising too much money can lead founders astray: “People who raise too much money get too much confidence in their own plan, which is normally BS. The right way to do a business plan is flex-planning: have a vision, but plan the next 3-6 months to test every assumption you have. A business plan is about testing every assumption. Even if you’re sure it’s true, test it if you can in the marketplace by running an experiment.” He gives another analogy for the point he’s trying to make: “You want to shoot for Mount Everest, but nobody ever got to Mount Everest without getting to base camp first. You build a base camp of a stable place where you’ve learned a lot and where you can tread water for a while… Maybe you get to cash flow breakeven at base camp. But you want to set up base camp where it helps you scope out the path to Mount Everest.” Video source: Startup Grind (2015)

Startup Archive

13,930 次观看 • 9 个月前

Jensen Huang on how the first 6 months of NVIDIA was just three guys talking about lunch: "We met every day, the three of us, in one of the founders' townhouse in Fremont and we would get together and there would be nothing to do. What do you do? Three guys get together, you just talk. So what did you guys do last night? What did you have for dinner? We talked about that for about six months." Jensen was 30 years old. Never taken a business class. Never taken a marketing class. As he puts it: "The big event of the day would be—hey, where do you guys want to go for lunch? Philly cheese steak today or Chinese food tomorrow. That would be like a big deal. And then after a while it was like could you put some donuts in the fridge in the morning for when we come. That would be a big deal for a while. That lasted for a few months, just the three of us like that." He continues: "I know it sounds pathetic but it's true. At that time I'm reading books on how to start companies and I'm trying to figure out how to go raise money and what's a venture capitalist and how do you incorporate the company." On incorporating NVIDIA: "I met a lawyer and he says we need some money from you so we could price the shares. He says how much money do you have in your pocket? I said $200. So he says okay give me $200. For $200 I bought 20% of NVIDIA." On the business plan: "I never finished my business plan. We never finished a business plan. Never could figure out how to finish a business plan to tell you the truth. If I would have finished that book and read the whole thing, I would have been dead now. We would have run out of money, ran out of time." What VCs actually invest in: "VCs don't invest in business plans because business plans are easy to write. They invest in great people. The question is—do they trust you? Your reputation matters, your history matters. Your reputation will precede you even if your business plan writing skills are inadequate." Great companies start with great people, not great plans.

Jaynit

83,373 次观看 • 8 个月前

Naval Ravikant’s checklist for starting a company “The most important thing is there are no formulas. At the end of the day, you have to do what you love, and you have to do it even though people tell you it’ll never work. But that being said, if there was a formula [for starting a company], I would put it something like this.” Naval started seven companies before AngelList and this is the checklist he recommends running through before starting a startup: 1. Pick a great cofounder. This is most important: “You can do a company on your own, but it’s like you can raise a child on your own, but you probably shouldn’t. You need someone who’s going to be there with you.” This has it’s own checklist. Your cofounder should be: a. Very high intelligence (”hopefully they make you feel dumb, or they’re not smart enough”) b. Very high energy (”They should be extremely hardworking. A founder is someone who never has to be motivated. You should not have to be telling them to do their job.”) c. Very high integrity. (”a smart, hardworking crook who’s going to cheat you is the worst kind of person to be paired up with.”) 2. Pick a very large market. “Notice I don’t talk about the idea. I think ideas are almost irrelevant… The more important thing is that you pick a large space that you’re knowledgeable and passionate about. And then you will figure out what the right thing to do within that space is.” You want to be able to say to investors: “This is a space where there’s a huge market. I’m really knowledgeable and passionate about it. Here’s the great person that I have doing it with me. And here’s the minimum viable product that we have built. That will show that we can test in the marketplace… You iterate until you get to product/market fit… And then you go and you raise money from people you trust. And you use that money to scale.”

Startup Archive

36,050 次观看 • 1 年前