Think Fast Talk Smart: Communication Techniques 143. Adopt a VC Mindset: Achieve More by Thinking and Communicating Like a Venture Capitalist
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May 21, 2024 Ilya Strebulaev, a finance professor at Stanford and founder of the GSB's Venture Capital Initiative, shares insights from his book, The Venture Mindset. He emphasizes that the best decision-makers ask, 'Why should we not proceed?' instead of seeking reasons to move forward. This contrarian approach fosters smarter leadership and encourages embracing failure as a stepping stone to success. Strebulaev also discusses the importance of using accessible language and strong listening skills to enhance communication and networking.
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Venture Mindset
- The venture mindset is a mental model for decision-making in uncertain, disruptive environments.
- It emphasizes quick, smart decisions based on known and unknown factors.
Slack's Origin Story
- Tiny Speck, a gaming company backed by Accel Partners, failed initially with a glitchy game called Glitch.
- Accel, recognizing the team's strength, continued funding, leading to the creation of Slack.
The Negative Question
- Instead of asking "Why should we invest?", ask "Why should we not proceed?".
- Look for red flags to quickly eliminate unsuitable opportunities and focus on potentially profitable ones.
