Guy Kawasaki: The Top 10 Mistakes of Entrepreneurs

The UC Berkeley Startup Competition (Bplan) proudly welcomed Guy Kawasaki to the Haas School of Business. Kawasaki, former chief evangelist of Apple and co-founder of Garage Technology Ventures, explained the top ten mistakes that entrepreneurs make. His talk covered all stages of a startup from inception to exit.

[@cburgdorfer]

8:48 Multiplying big numbers by 1% 10:57 Scaling too soon 15:30 Partnering 16:29 Pitching instead of prototyping 19:54 Using too many slides and too small font 22:12 Do things serially 23:37 Believing 51% = control 24:52 Believing Patens = Defensibility 28:09 Hire in your own image 29:24 Befriending your VCs Bonus: 35:55 Thinking VCs can add value

[@taumohlodi5875]

Thanks for the break down

[@BusinessBasics]

Thanks!

[@MrGuitarguru95]

Thank you!🎉

[@mohammedrashid2906]

Nice

[@jupitercyclops6521]

Interesting. I would think #1 would be selling out your customers to over reaching government & governments ultra wealthy marionettes. He must not realize the damage he is doing to our nation

[@DenysMarushchak]

I wish stand up comedy would be as informative as this talk. Very entertaining

[@arifulislamleeton]

Thank you so much

[@gubstav]

Watching this in 2022. Dang this guy was ahead of his time. All his points hit on target. Talking about trends such as cheap tech infrastructure and free marketing in 2013.

[@riccello]

Guy’s sense of humor is the biggest indicator of his honesty

[@HelloAll1990]

Mistake 1: Thinking that getting 1% of a market (car market, hamburger market, phone app market) is easy. It is not easy, so don't think like that. Mistake 2: Scaling too fast. You anticipate huge growth and customers that will love your product and you invest so much and then it turns out no one wants to buy your product, and you run out of money. Mistake 3: Being obsessed with partnering. Partnering is essentially two companies coming together in an attempt to band-aid their weaknesses. Focus on SALES. Sales fix everything. Mistake 4: Being too focused on your 'sales pitch' and perfect 'powerpoint presentation' that your prototype lacks. Focus MAINLY on improving your prototype. PROTOTYPE. Mistake 5: This kind of a rule. 10-20-30 rule. 10 slides, 20 minutes, 30 pt font on a presentation. Mistake 6: Doing things serially. In the real world, you will need to stay on top of multiple things at once. Not just hiring. Not just raising money. You will need to move everything down the road at once. Mistake 7: Thinking that owning 51% of your company means you have control. NOT TRUE. The moment you take outside money (investor money), you lose control of the company and you have an obligation to the investor. Mistake 8: Thinking that because you have a patent that makes you defensable. Don't even think about telling an investor that the reason you're defensable is because you have patents. You'll never have the time of money to sue Microsoft. Mistake 9: Hiring too many of the same person. Hire a variety of types of people. In other words, have strong branches for every aspect of your company. Generally, you will need people who specialize in MAKING the product, SELLING the product, and COLLECTING the money. Mistake 10: Trying to befriend you VC (venture capitalists or investors). They are just here to make money. Meet your deadlines/projections of 80% confidence minimum. Don't think that they're out there to help you and babysit your company. Mistake 11: Thinking that VC's are the key to your success just because you know that they have invested in a successful company before. *You should definitely watch the Q & A that begins at 41:05 *

[@suma9684]

Julio Ochoa Thank you!

[@HelloAll1990]

you're welcome!

[@haythambouifraden7345]

Thank you very much!

[@chchchririss]

Julio Ochoa thank you mate.

[@neilintherapy4865]

Thanks.

[@anthonyleonard]

Fantastic over-delivery by Guy. Here is the 30 Point Font version. 1. Mistake: Multiplying big numbers by 1 percent (Truth: Don’t use this type of logic. It does not work.) 2. Mistake: Scaling too soon (Truth: Companies don’t die if they don’t scale fast enough.) 3. Mistake: Partnering (Truth: Sales fixes everything.) 4. Mistake: Pitching instead of prototyping (Truth: A functional prototype reduces the risk that you can deliver.) 5. Mistake: Using too many slides and too small a font (Truth: 10/20/30 rule-10 Slides, 20 Minutes, 30 Point Font.) 6. Mistake: Doing things serially (Truth: Doing everything at the same time is how the real world works.) 7. Mistake: Believing 51% = control (Truth: The moment you take outside money, you have lost control. You have a moral, ethical and financial obligation once you take outside money.) 8. Mistake: Believing patents = defensibility (Truth: Only use the P word once. “We have filed patents.” “If you are acquired someday, the acquiring company will love that you have patents.”) 9. Mistake: Hiring in your own image (Truth: Seek balance to complement your skills. You need someone to make it, sell it, collect it.) 10. Mistake: Befriending your VCs (Truth: VCs are in the business of making money, not making friends. Just make your forecasts. They will ask you step aside if you don’t. “Just meet your projections.” “Under promise and over deliver.”) Bonus. Mistake: Thinking VCs can add value (Truth: Fundamentally you want their money and 2 to 3 hours of their bandwidth each month.)

[@fanadclicofficial7363]

Here here!! Well said! Guy Cowa suckee!!

[@marcorocchio4620]

"Sales fixes everything" - in business, truer words were never spoken

[@warrenjoseph76]

Except bad accounting of course

[@uqox]

Some of the most honest, "I don't know", I've ever heard out of a super successful person's mouth.

[@rotimibest8530]

Guy is just an amazing speaker. He is able to connect the dots in his speech and convey one message. It would be hard to forget the lessons he shared in this talk. Key things that stood out for me are 1: Patents are not really useful 2: Shut up and show a prototype 3: Still shut up and improve your prototype then show it again 4: Being frugal is an asset. 5. 10 slides, 20 mins, 30+ font size

[@zendoc49]

I would make this mandatory watch for all students in college regardless of whether they plan to start a company or not. Best lecture I ever heard and so timely just as I was planning to start a company bigger than apple, bigger than microsoft and bigger than Tesla and bigger than all three combined.

[@stefanodsica2522]

It amazes me greatly how I go from living an average lifestyle to making over 63k per month I've learned a lot over the past few years that there are plenty of opportunities in the financial markets; all it takes is just to focus on the right thing. Credits to Zach Micah Demers

[@carolsitsons443]

I looked up his name on Google and was impressed by his resume; I consider myself lucky to have found this comment section.

[@Jorgmiller]

That's a lot of money you're making. How do you do this on a regular basis? You have to be a trading genius.

[@teddy.bisson.411]

How can I reach him?

[@stefanodsica2522]

Search his full name

[@stefanodsica2522]

Zach Micah Demers

[@daveb4446]

This is exactly why Guy is my favorite speaker.

[@fgbowen]

I love the way he's coining the phrase/words - "Band Width" - That. is brilliant.

[@JaimePradoRodriguez]

Pure common sense, transparency and good communication. Thank you!

[@ekanem2954]

Amazing speaker, never get bored of hearing his talks

[@mehyaraus]

I love his energy, even the sniffing and the snorting didn’t stop me watching the whole thing. It was funny and I learned something.

[@PeaceofMindMusic]

I am a network marketing professional & I chose a company with products I use & love! i can help so many people.

[@MistaSmith]

The thing about the parallel stuff: True problems appear in parallel and need to be solved in parallel. But learning can only be done serially. It's physically impossible to learn financing and hiring at the same time. So be prepared to do a lot of crappy stuff, but do one thing well. Put all your heart in one area. And after doing that for 3-5 years you have learned something in most areas and can do much less crap, maybe little enough to finally win.

[@SuccessResourcesAustralia]

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” - Warren Buffett

[@adismell]

Yeah, I run a business and I think about that every day.

[@TheSteinbitt]

54:00, It's better to be lucky than smart. Wisdom right there, people don't give enough creedence to luck and the complexity of the world.

[@johnnybizaro1]

It's better to be born with wealth, people don't give enough credence to that fact and how the rich think that being born with 1000 times what everyone else has gives them no advantage.

[@sephervin]

Luck = opportunity + preparation though.

[@TheSteinbitt]

sephervin Opportunity = luck - preparation

[@sephervin]

That´s mathematically the same thing...

[@arthurkorir7846]

Opportunity= luck + preparation

[@curtiscardwell6961]

Take a drink every time he says "Rockstar"!

[@rocus80m]

how many did you count? ;)))

[@davidn7026]

That's healthy

[@KienTranTonmat]

Such a brilliant, funny and humble person Guy Kawasaki is

[@MrDarryl90210]

This was so friggin' helpful that I have to watch it 2 or 3 more times as I apply each note!

[@fgbowen]

In the middle right now - and Wow! Incredible - best Seminar in a long time - Thanks for this.

[@sianazari9239]

I like his craziness!! and I like his last point! "Integrity" , doesn't matter if they copy, truth will come out eventually.

[@AmyAnsel]

"the key is not the pitch, it's the prototype." Guy would pick the prototype over the pitch all day long. "you can fix the pitch but you can't fix the prototype." that makes sense

[@ashokkt01]

This is 200 th time, this video popped up in my KZbin recommendations (algorithm)... Finally clicked. Wow.... So so good. Everything makes sense, but very well articulated

[@BrettHaase]

I love his quotes about partnering and stupid money. Good stuff and very practical advice.

[@bearjameson]

This dude is a legend and he’s funny so it’s easier to listen to him talk!

[@TNTEXPLOSIVESOUNDS]

I loved this video Guy is not only an excellent and knowledgeable speaker but he is down earth no bullshit

[@lomaluv1590]

I really enjoyed his presentation. He was not only knowledgable, but captivating through his humor. He sounds like he's from Hawaii. He has this very down to earth quality which is nice to see.

[@Titanos001]

One of the best speech that I've seen

[@vanessahuntlier8664]

His book on "Enchantment: The Art of Changing Hearts, Minds, and Actions" is awesome.

[@bmejia220]

Guy Kawasaki is so great. I have not heard him speak before. This is valuable information. Thank you Guy!

[@OverflowCafe]

Lucky to have Guy Kawasaki at your group!

[@nemanjastankovic941]

This guy is a true legend!!!

[@JusTinaMarieSimbaMasozera]

Guy is simply amazing in his inspirations.

[@TechWarriorz]

Great stuff, thank you for posting.

[@dorielalie5953]

Enjoyed this much more that I thought I would. What an unforgettable character

[@Timefairyjina]

This is really great. Every word he says is gold.

[@LukeEdwards05]

Guy Kawasaki LOL hilarious & incredibly insightful presentation

[@TechnomTigerGeek]

i love dis guy! he is absolute joy and talks with humour keeping his humbleness even though he was one of the reasons the macintosh was a success! respect!

[@devinmickey8125]

This Guy is an excellent speaker! Thanks Guy!

[@distancerides1417]

I like this guy. Very practical outlook on startups.

[@LucPaquette2helpu]

Lots of golden nuggets there.

[@VinBhaskara_]

What a talk!! Fantastic Guy Kawasaki!

[@elvireprochilo5079]

Great moment with Guy Kawazaki. Funny but at the same time full advices ! THX !

[@amazingdany]

My personal entrepreneurial mistakes 1 to 10: Procrastination and bs excuses.

[@amazingdany]

***** sadly, true. The worst in this world.

[@ArneWidding]

Disciplin can be learned in many ways. Find your destiny and you can nothing but work to get there!

[@kiwi07050kr]

One of my favorite speakers!

[@RobGoris123]

How refreshing and to the point. Thanks for sharing.

[@DiptenduRoy1]

One of the best startup video I've ever seen.

[@chiefenumclaw7960]

I love this Guy.

[@kyoungd]

Great lecture. Very useful information. Thank you, Guy, and thank you Berkeley.

[@JLoganMarshall]

Greatly enjoyed this talk. Grew up listening to Zig Ziglar and other motivational speakers. I appreciate your directness and candor. You have one new follower.

[@user-cz2pm7dq7s]

Thank you so much Guy!

[@NatalieVanVeenNatalia]

Fantastic, I really appreciate the no BS expertise from Guy :-)

[@entrepreneurshipsmedevelop3356]

Good to see a successful entrepreneur, VC, and ex-Executive of Apple, give this advise.

[@kouroskirkansari9923]

I just put up my first video on KZbin this afternoon; Talked last week to my daughter's tenant who is a MBA student at Berkeley Haas; Right now we have a distinguished visiting professor staying in our vacation rental in Berkeley who is teaching at Berkeley Haas MBA program; Our son is finishing his MBA at UCLA Anderson School of Management; We bought our home from one of original founders of Berkeley Evening MBA program; NOW, somehow this great presentation from Guy Kowasaki to Berkeley Haas MBA students appears like a rocket on my lap top. Talking about Google following me around?I started on my MBA program some 35 years ago but never finished it. It is scary. At any case Mr. Kawasaki has many good things to say and he is very entertaining as well. Have you done your prototype? That seems to be his most important advice for the new start ups.

[@mohammedrashid2906]

Thanks

[@mosialive]

A great man he is. Wow!

[@trzagor2769]

It is better to BE lucky than smart!! YOU HAVE POINT THERE!!!

[@MadhavaSrivatsa]

I love this Guy!!! Lot of insights.

[@user-lt8nd8rc6y]

this guy is the best standup comedian.

[@1337Noobster]

Great Talk! Thank you Guy. And thank you Uc Berkeley for uploading this :)

[@kendalomdahl5529]

Got to love Guy!

[@mariaarcher377]

just brilliant - a rock of sense and I have made all of these!!!

[@Thesketchmonkey]

Great presentation, great insight! I get the impression that having a prototype is pretty important.

[@katalyst552]

I love it! Currently on my management courses.

[@saiprasadsomayajula]

great video. Guy Kawasaki's message to entrepreneurs on top 10 mistakes is awesome. He touched upon everything from wrongly projecting a market share to the defensibility of patents.

[@IMRecipes]

Guy, so much great information ... thanks for sharing your knowledge about entrepreneurs :) You rock!!!

[@AndrewRulnick]

Great advice for aspiring entrepreneurs.

[@AshleyWincer]

Excellent speaker and great advice.. Thank-you for posting this video online..

[@SantoshChaudhari7kcr]

Absolutely fantastic

[@luckyboypictures]

Really enjoy this video, very informative and highly entertaining...great job Guy!

[@anikyt7570]

So many valuable extraordinary advice ...

[@EnergyElephant]

Steve'd be proud!

[@DeborahMacDonald]

Very informative along with a very good presentation. Thank you for posting this video.

[@mhchitsaz]

This is awesome! love it

[@andrewboey4838]

have alwys been a fan of his delivery style.... good one Guy :)

[@AshleyWincer]

Excellent speaker and great advice..

[@InnocentDjiofack]

Thanks! This is just awesome!

[@sweetabcde]

Thank for sharing your experience Guy Kawasaki

[@randallhoover7688]

Finally, a REAL person. Researching!

[@AMITHHILLSHOW]

golden hand in apple - GUY KAWASAKI SIR!!

[@CrawlerLib]

"Better be lucky than smart" - thats a statement.

[@shintanovitasari7784]

this is really helpful. thank you very much.

[@fatpassportagain]

Every single word he said is true ! I should have watched this long back

[@QuHarrison]

Very solid presentation...

[@jaffaizal]

A MUST WATCH for ENTERPRENEUR

[@f9satish]

Excellent speaker

[@dmitrykalabin]

awesome, just awesome!

[@snehagavli5382]

Gery nice lecture infact it was not a lecture it is how one should connect to audience. Beautiful presentation and good jest. Loved it.

[@hahorin]

Great great speaker I am impressed.

[@FarshidKetabchi]

so much great insight here. thanks.

[@susanmcvea]

Loved the video! Business is hard and failure along the way is inevitable. Glad to see someone who is real about the industry.

[@maphaimasie4894]

This is so insightful

[@darenklum1958]

If you are a first time Entrepreneur this is a must see.

[@kevinrohanthomas]

Great Guy.

[@FabulousFabFitness]

The funniest guy ever. So wise!!! Gosh, I love you. lol

[@JackBinder]

Excellent tips and such a funny approach. Thanks Guy!

[@timmiller8918]

Great speaker!