HBR IdeaCast What Venture Capitalists Can Teach Companies About Decision-Making
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May 28, 2024 Ilya Strebulaev, a Stanford Graduate School of Business professor and co-author of 'The Venture Mindset', shares insights from his expertise in venture capital. He discusses how established companies can learn from the risk-taking and agile decision-making of VCs. Emphasizing the importance of structured debates and challenging consensus, he reveals practical strategies to optimize decision-making. Strebulaev advocates for a cultural shift in larger organizations to embrace a venture mindset, ultimately promoting innovation and growth.
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VC Impact
- The VC industry, though small, is responsible for a significant portion of successful new large companies.
- This suggests that large corporations can benefit from adopting a "VC mindset" to compete with these newcomers.
One Home Run
- A VC explained that one successful company out of a fund started in 1999 could still be a home run, even if all others failed.
- This highlights the VC focus on home runs over strikeouts.
Portfolio Strategy
- Focus on portfolio allocation strategy rather than individual bets.
- Evaluate your strategy if your "anti-portfolio" (projects you didn't pursue) performs better than your actual portfolio.
