Stanford Entrepreneurship Videos

Frank Levinson, founder of Finisar, begins his talk with a story about a failed startup of his, Netek. Netek is an example of company that had all of the components that are commonly considered to be necessary - idea, business plan, VC investment, team and space. But even with all of that, Netek couldn't get off the ground, he says.

Levinson discusses the starting point of Finisar, and why he founded it. He also talks about the initial months of the business and trying to make a profit.

Number 2 in Frank Levinson's Top 10 Things You Must Have to Start a Business. Levinson talks about how a real business involves selling to customers and receiving money in return. He warns new businesses not to shy away from selling their products early on. He also gives advice on recognizing a real customer.

Frank Levinson's Top 10 Things You Must Have to Start a Business. These include: 1) Spending everything on a good team and equipment 2) Letting people know the company is in business 3) Raising limited capital 4) Taking stock of a company and determining its needs 5) Being open to opportunities 6) Having a supportive family 7) Targeting mass markets, not just niche markets 8) Having confidence in new ideas 9) Acquiring and selling to real customers 10) Choosing a great partner

Number 1 in Frank Levinson's Top 10 Things You Must Have to Start a Business. Levinson claims that the people you work with and your team are key in making your business successful. He explains the factors that should go into choosing your partner

A familiar question among potential founders, says Levinson, is how much business and operational experience do I need to have before starting this business? He talks about the best experience a founder can have - the kind learned only by jumping in with both feet and learning as you go.

Number 10 in Frank Levinson's Top 10 Things You Must Have to Start a Business. The first thing you need is comfortable, cheap furniture. Spend everything you can on great people and great equipment, that's everything, Levinson says.

The personalities of team members and the culture of the company are vital to its success, says Levinson. An unethical member of the team can cause stress, tension, and ultimately division within the company.

Number 9 in Frank Levinson's Top 10 Things You Must Have to Start a Business. Let people know you're in business, says Levinson. Name your company and put a sign up as soon as possible. Your main motivator should be the customers, he adds.

Over the last three years, Autodesk had to change delivery times due to customers' faster delivery demand. Autodesk was able to move forward using software as service, thinking about process, and innovating in an established company.

Bartz argues that you should learn how to pick your self up, be scared and cover it up, or be emotional and show it at different points in your life. The younger you learn, the better off you are. Do not be something you are not, she says, learn who you really are.

Bartz discusses Buzzsaw.com, a company created to provide a hosted environment for the construction industry. Because Autodesk had no experience in the construction industry, the company spun out Buzzsaw and then bought it back after a successful fundraising round with VCs.

Bartz stresses the importance of surrounding yourself with good people. Some of the best leaders in the land, she notes, are adamant about surrounding themselves with good people.

How do you seek out and promote quality leaders from within a company? Leaders are often self-selected from peers, Bartz says. On way to identify them is to set up a management meeting and tap into the different groups across the company and note who gets picked to represent the individual groups. Usually, these are your leaders. Because they are easy to work with and are creative, they are sought out as leaders at whatever level they are in. No one wants to work with an asshole, however qualified they may be.

Bartz passion for programming is not about making money; it is about loving what she is doing. Whatever it is your doing, she says, make sure it is something you enjoy. The best leaders who are entrepreneurs are doing what they like.