What They Don't Teach in Business School about Entrepreneurship

Part of 2010 Conference on Entrepreneurship.
Description: A group of entrepreneurs talk about what they learned in the trenches that they never could have learned in a classroom. The panelists will also share the courses that were most helpful to them in their entrepreneurial ventures, the courses that they wished they had taken, and the topics that business schools should be teaching to aspiring entrepreneurs.
Read entrepreneurship stories: www.gsb.stanford.edu/news/entr...
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[@maximillian.a.m]

A few topics that the panel mentioned is covered in a valuable book titled, The Start-Up Owners Manual. I recommend all entrepreneurs read it

[@asdf-jo4vv]

Thx

[@renxoramos4465]

Tnx

[@HassanOmar-uu7nz]

9

[@ziggyc4474]

To me it sucked not as good as you said it is,sorry .

[@kenkeyran1934]

@@asdf-jo4vv ni

[@aDIYCarGuy]

A personal finance class should be required for any non-business majors. Colleges don't teach how to balance a checkbook because that is an antiquated thing best left to high school education.

[@J_CO]

Being your own boss is not for everyone. It’s way harder than having a regular 9-5 it’s very rewarding but trust me it’s not as easy as people make it seem

[@hansvetter8653]

I am focussing on my strengths. Weaknesses always gets compensated by your team members, because of their strengths! So team building means combining orthogonal strengths by many different backgrounds of each team member ...

[@cameronthorby5799]

What if empathetic listening is a weakness and you want to lead a team? Or you aren't great at Sales so you don't have an idea of what to look for when you're hiring a Sales lead? You don't have to turn a weakness into a strength but if you completely neglect them your small weaknesses are going to become big ones.

[@ivynya29]

I’ve been looking for this video. Watched it 8years or so ago and it was transformative. Loved how they address diversity and strengths and how to leverage both in business and partnerships.

[@astralamborghini4319]

Don’t be afraid to go to sales. It’s a basics! Go there where you are not the best, where people tell you how stupid you are)) that’s where your growth in

[@joshuamweeka1381]

I am very happy to find this page I have been missing it

[@ziranduan]

The message from this video is so excellent, I admire them and Stanford

[@bron3477]

Listening to this in 2023. Finally an entrepreneur speaking about her mompreneur journey

[@mvivekc]

Such an under-rated talk.

[@asdf-jo4vv]

Yeah, right? I am fascinated with the tips! 👌🏻

[@omkarsawant7933]

These are some of the best people at what they do. Kudos for sharing this GBS. I am wondering what they might be doing now in 2021.

[@newid4575]

Yeah that the internet was new any Business in internet was booming as it has first mover advantage now ai has same capabilities.

[@Device_Guy]

I thought this was going to be a BS video. I was wrong, it is awesome. Some really great nuggets from all three guests on the panel.

[@GanpatiRam]

Thank you stanford for this video❤😊

[@swapnilkulkarni6719]

Thanks for valuable insights..

[@pacifiquebusiness]

Thank you Stanford for this video ❤😊 I am study Stanford 🎓

[@BIGNELLTV]

Great Video Thank You

[@napoleontan2841]

Thank you so much.

[@Create301]

Learn where you’re weak in 💯🙌🏼✨

[@sophiepchat4247]

Right bitoflife

[@nks99999]

Profound!

[@77petesgarage]

Excellent

[@kingsolomon0]

Thumps up for uploading this video.

[@jchanning72]

Wouldn't have expected someone to wear an England Umbro shirt to an event like this!

[@living4adrenaline]

THIS IS ENGLAND!

[@StorytellingHeadshots]

This is Stanford.

[@maryamm8379]

I just can’t express how much I really like those two entrepreneurs 30:35

[@edwinbrace4681]

Mike was ahead of his time !

[@omkarsawant7933]

No body mentioned what problem their start-up solves 🙄

[@jahbrae]

I'd say they don't teach how to build rapport with others, utlizing your own unique personality in an effective way.... I"d say lastly how to cultivate a healthy relationship with emotions to enjoy the process vs. hustle grind and hate life.

[@jjk028]

Oh we went from 1500 to 15 million in 3 years......yeah let's just call that lucky and move on???...How about talk to us about those specifics

[@rockefroth4770]

Right that was bubble and he was lucky get out right time from that bubble

[@mattjw16]

Apparently they also don’t teach you how to operate a toaster oven

[@inlander311]

i wish i've watched this few years ago, where was i ?

[@lifeisabadjoke5750]

being a loser

[@ashercarson2192]

Summary please!

[@sanyulynn7600]

I WANT TO TALK TO HER REGARDING KIDS AND BUSINESS

[@winec00ler]

@19:40 Note to self watch this

[@ivywoodxrecords]

Dude just say your age wtf

[@hoshy9189]

33:30

[@MarcohFilms]

12:50

[@rosesaredainty5638]

That guy not wanting to say his age was a little ridiculous.

[@jameskekula6397]

tom Brady my facial luck y aint on air

[@ejohnson4321]

Widgetbox is difunct!

[@ahsanmohammed1]

spoke a lot and said nothing. sorry.

[@rockefroth4770]

Sorry but what do you mean buddy?🙂

[@TheBumbleCheese]

@@rockefroth4770 Its just self-evident things made special, thats all. Provocative title to get clicks

[@productinside]

Anyone from 2024

[@arifulislamleeton]

Introduce myself I'm Arif Khan harry im software engineer and website development and software development and students funding United States and investors and members of the United States

[@devenbrown761]

Was listening without watching...thought the first speaker was a woman.

[@brayanhernandez7691]

Bruh

[@PoVTube]

Enlightened?

[@jameskekula6397]

police when at my home

[@TheBAYSTiLO]

Every manager, CEO, VP I’ve had in my life has been white and bald. And what do we have here??

[@living4adrenaline]

Sounds like you have victim mentality, get over it! Anyone can start a company regardless of the color of their skin.

[@CidYoung-REALTOR]

@Edith The “mother entrepreneur” had all her hair and the most specific advice as well.

[@irishguy200007]

You cannot teach business as these people are born.

[@blackhealthfitnessmagzn7793]

I will teach you one thing and the mostly simpler way to make money how you have opportune to talk with number one always is a weak at 3 he will weak again for many reasons

[@foodscrazy9229]

Ridiculous to see this, if they don't teach it in business school why this video is here😂😂😂

[@ashtesera6949]

Very impresed with the lady.as immigrant she speak brilliant english. You never seen a white man speak other forighn langge to her standard. That is why i call it white privilage.

[@ashtesera6949]

I call it white prvilage story. If you are white it is ike walking in the park.

[@marcusryden6732]

I’m white and broke. Where do I pick up my privilege?

[@johnwig285]

I call you psuedo-victim privilege. Always act like a victim and blame others for ur own incompetency. The colour of ur skin doesnt mean anything, unless ure a racist whose life revolves around hating white ppl for existing

[@LegalAutomation]

@Be Wise We live in the most economically prosperous time in history. You are literally holding a super smart tiny little computer in your hand, and it cost you practically nothing to receive it. Global poverty has been reduced by 50% over the past 7 years. Turn off CNN and Fox News. They are just doom and gloom.

[@CidYoung-REALTOR]

@Be Wise Sometimes a business is intentionally run into the ground for the tax Write-offs. Trump is a great example. For all his bluster about graduating from Wharton and running successful businesses, he sure has had a bunch of failures over the years. If you want to be good at something, bring it, don’t just brag.

[@StorytellingHeadshots]

This is such an ignorant comment by ashtesera6949. Apparently believes that melanin levels has something to do with income. Must have failed biology 101.

[@AlejandroMS67]

CEO entrepren. David Cassidy,(Harvard), Nazila Alasti, (Stanford), Will Price (Northwestern U mba). Main points: What led them to decide to follow an entrepreneurial path. What was the biggest surprise once you jumped in. Lessons learned - what are the 1 or 2 key lessons that have been important to your success or learned from lack of success (failures). How and where did you learn these one or two key lessons. How did or didn't business school prepare you, that has been of great importance.

[@omgitskarim]

Interesting. I think it's so true what they're saying about the importance of sales! To this day, sales is underestimated by business schools. Whether you're going to be an accountant, marketer, etc. You should be an effective salesperson!

[@elearningideas]

Excellent advice and really appreciate you putting this online. Thank you!

[@ProductLaunchResults]

Not all strategies and marketing secrets are taught in school even by successful businessmen. It is like, their secret recipe they only keep within themselves. Most of them only provide a generic answer that even you knows about it although some of them were also able to provide helpful insights.

[@wasted2240]

awesome panelist!!! a lot of great ideas and lessons that apply to a broad range of disciplines

[@rockonjimish]

This is a fantastic discussion and unlike most panels. It comes straight at you and i kept saying yes, thats so true. Great talk by great entrepreneurs ...

[@sundaarSOA]

All three had unique presentation style...most valuable session

[@abuhajara]

@BigGunsBates yes, because Stanford bussiness model is not just to go to DC and get government funding, but also to help start startup companies. Companies like Google, Yahoo, Intel and Apple, Rambus, and many more sarted by Stanford students, almuni. and VCs are all next door, you may have lunch with them.

[@Fliptennis]

Yes, wish these were seen by more folks so we could have a real education in this country ..

[@epicsauceification]

- Thank you for sharing your experiences and encouraging others...

[@AddOptions]

This is well worth watching the entire video. Bit long for an entrepreneur to watch since most of us are so busy. But it's been worth the time.

[@shahabahmadrohin5813]

Great lecture and it really does not matter from which field you are coming to become Entrepreneur plus you have to start from somewhere sitting at home and thinking that what if i loss mean you have loos take the action and go for it......

[@DijitalPazarlamaTR]

Precious information presented in a very good way here. Thank you for sharing.

[@filter80808]

Excellent video. There exists one glaring omission in the route to entrepreneurial success: LUCK. For every successful venture, a dozen or more lie in its wake. And one piece of advice for future MBAs: if you want to learn to be an entrepreneur, skip school altogether and start a company. You'll learn more by investing your precious time and money into setting it up, growing it, scaling it, and selling it. MBA programs seem to do little more than polishing future consultants or bankers.

[@CheKatrin]

Pretty much !

[@Psillyboi777]

These can be fertile in valuable lessons, thanks for providing them.

[@arobertson17655]

I am from the school of hard knocks. I am graduating from a community college and I come from one of the most impoverished places in the United States; South Dakota. From what these entrepreneurs have explained the job of a CEO is to "sell and raise money". I would argue that that these Graduate programs of Business are insufficient. How can an elite academy be effective in coaching economic development on the Cheyenne River Sioux Tribe?

[@NickSimpson]

I will no pick the presentation apart as it seems that many others have. I think this is a very interesting topic and the content was amazing, thanks for posting this. - Nick

[@UnitedPebbles]

These guys represented the "missed" of acquisitions.

[@2Sumner4]

I like that he mentioned Nick Saban and Alabama. great vid. Roll Tide.

[@flaxion10]

Thank you!

[@LarryChiang]

This is awesome!

[@jimpagliaro]

@EcstasyW I could not agree more. Invaluable information right here.

[@annuitycom]

It seems like a lot of business school folks end up working for corporations instead of spiking out and starting their own companies... at least that's what I've seen.

[@shashu990]

15000$ per month or uncertain massive wealth ahead is the choice they face

[@makug]

thanks for this.

[@serbanmike]

Another thing they don’t teach in schools is how to balance a checkbook.That’s why many people are in such debt and deep financial troubles, working in all practical terms at enriching the bankers instead of themselves. Instant gratuity doesn’t work. That’s the reason we are in such a fine economic and financial mess.One cannot spend more than one creates,otherwise you get in financed debt which bankers love, it’s their cake and they eat a lot of it, and for you mortals you get only the crumbs.

[@commandervander1]

There is a degree of LUCK when an entrepreneur is successful; however, those cases are far and few between. People who don't succeed are more likely to blame the lack of luck than the fact their plan was not good enough. Let's face it, just because one wants to be successful does not make it so. Having the correct focus, work ethic AND product or service is an absolute key in being successful. Luck is overrated and a cop out for those who simply don't have what it takes to be a success.

[@alex-ff1mp]

17.30: Sunday Afternoon at 9`clock Question: i can not believe the weekend is over :Wrong Answer! , and next 18:15 - Small Team with high moral! : for start up!

[@philly2210]

Q: How do I get a chance to develop sales skills? A: Go work for a door to door sales company for the summer. Door to door sales is absolutely the toughest sale there is and you will learn more in one summer than in a bunch of seminars and classes. (If you say, "I can't do that" then the reality is that you have the opportunity but don't want to take it.") Door to

[@genefury75]

this is great

[@youngpilgrims]

I remember once Tony Bennette was interviewed about his secret of success and he was like "Lady Gaga". Think about it, Lady Gaga has her "power" of being a successful young woman; therefore, she might be someone that business schools need to study on.

[@zolawrx]

basically what they don't teach is EXPERIENCE.

[@rajap8320]

Probably that's tacit knowledge which cannot be taught. Should be gained only by experience.

[@DynamicoS21]

Couldn't have said it any better.

[@akell2]

You need to look again at your finance course concerning leverage. Bank are not in debt because they don't teach in schools how to balance checkbook... Leverage (and thus very high ration D/E) : you amplify your gain with a minimum amount of capital which is one of the main idea of leverage.

[@MarioIArguello]

@EcstasyW stuff like this is for not the many.

[@MrRajendrabasnet]

wow!

[@wetyewruyrtsutrdhjfg]

55:00 - Heh. I have almost the same experience. We get together for meetings. But the problem is that it's to get the subordinates to do something while the managers kick back. I have little respect for managers at my previous company. The subordinates do almost everything while the managers pinpoint what's wrong AFTER an incident's occurred. Then they push the blame to the subordinates because....well, it's the peons who did all the work! "I didn't do it! Blame the one who did the job!"

[@jamesruf1025]

What is Mike's last name? He has totally inspired me. Thanks Mike!

[@fliptthescript]

a school is a good business to start im sure they woudln't like that. But they would discuss any other kind of business you would want to start.

[@fwongdmf]

i don't know why all these speakers focus on companies they have sold?

[@saadasim]

Remember Bush Jr. was also a Harvard MBA!

[@CidYoung-REALTOR]

I thought he was a Yalie. Doesn’t matter where you went if you spent it sitting in your butt drinking beer and knew your Daddy would always bail you out.

[@JasonRadley]

When she spoke later to the women about how entrepreneurship was compatible with being a mother, it was really just an excuse to try and flog them some Farley's Rusks.

[@mike23984]

it'd probably be a tough negotiation first

[@samtrickett2540]

Thanks Stanford for posting this. They are all from Harvard! The dreaded East Coast. lol

[@wishful343]

For the same reason you should'nt, because people like to hear themselves "TALK"

[@xenor6662]

He's put off by the guy in the striped blue shirt. It seemed he felt undermined by the suggestion that he was only successful by default because he started at the dawn of the internet age.

[@UnitedPebbles]

Hey so are you an avid listener/learner? Then tell me what the main points of this video...you may get a job with Stanford.

[@thehellbrothers1]

Schools just don't teach the common sense stuff in business school and the dedication you have to put towards your business to make it work.

[@abdulrahmansattar2873]

Lol so can I get into stanford business school? I sold 100$ worth of goods in a 2 days time :)

[@GunsBates]

No. I'm not joking. HBS and YBS can't compensate for Stanford, with Silicon Valley next door.

[@OnlyForAngels]

You think someone who's running companies worth millions of dollars should be warm, loveable, gentle, compassionate person?