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RssEugene Kleiner created Kleiner Perkins, one of the most successful venture capital firms known for backing ventures like google, Sun Microsystems, Amazon and AOL. Kleiner was known for his business wisdom often referred to as “Kleiner’s Laws.”
Here are some of the favorites:
• Make sure the dog wants to eat the dog food. No matter how ground-breaking a new technology, how large a potential market, make certain customers actually want it.
• Build one business at a time. Most business plans are overly ambitious. Concentrate on being successful in one endeavor first.
• The time to take the tarts is when they’re being passed. If an environment is right for funding, go for it. Eugene, more than anyone, knew that venture capital goes in cycles.
• The problem with most companies is they don’t know what business they’re in.
• Even turkeys can fly in a high wind. In times of strong economies, even bad companies can look good.
• It’s easier to get a piece of an existing market than to create a new one.
• It’s difficult to see the picture when you’re inside the frame.
• After learning some of the tricks of the trade, some people think they know the trade. This reflected some of Eugene’s own humility; he recognized that many venture capitalists thought they were experts when they had just a bit of knowledge.
• Venture capitalists will stop at nothing to copy success.
• Invest in people, not just products. Eugene always respected founding entrepreneurs. He wanted to build companies with them not just with their ideas.
Posted via email from Jay’s posterous
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Tags: Eugene Kleiner, Kleiner Perkins, Kleiner's Laws, venture capitalist Kleiner Perkins
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Invest in people, not just products. This truism extends from the founding entrepreneurs to all the members of the organization. It extends to customers and vendors as well. When you invest in people and in forming powerful, positive relationships with them you help to create a strong foundation for your business. It is not the only key to a successful venture but it is an important one.