Entrepreneurial Thought Leader Speaker Series

Tools

Make a Plan - Randy Adams (AuctionDrop)
Date: 11/3/2004
Length: 2 minutes
Speaker(s): Randy Adams
Sources: Stanford Technology Ventures Program
Description: Adams talks about how the creation of a plan with a logical set of steps is essential to creating a successful business. Within this plan are attainable milestones and the knowledge that as a small company, flexibility is still an
option.

Other Videos in Series

Addicted to Taking Risks - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Randy has learned from years of starting companies that he has developed an addiction to risk taking. A benefit of young companies is that it is easier to take risks because of the size. There may be nay-sayers, but Randy's advice
is to ignore them and continue on with your plan. Watch More
Competing with Other Start-ups - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Adams doesn't worry as much about competition from other start-ups; he views that type of competition as validating the market. It's direct competition from the big companies that is frightening, he says. Watch More
Consumer Behavior Changes in Familiar Companies - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: If consumers are so unwilling to change, why did FedEx gain popularity? Adams asks. He talks about consumer adoption methods and why some things work (internet transactions) and some things didn't (Tablet PC). Watch More
Experience vs. Idea - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Adams answers the question: Will someone with experience and credentials have a better chance of securing a venture finance deal than someone who is new and inexperienced? He believes that a good idea will always prevail. Other
factors are important to consider, including team, but the right idea presented to the right VC will win. Watch More
Failure is Good - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Failure is a good thing, says AuctionDrop's Randy Adams, as it can be a much needed catalyst to make the budding business person strong, humble, and innovative. Think of it as a reset, he says, and something to make one
re-evaluate and reset a current course of action. And furthermore, he advises, never, ever quit. Stick around until you get thrown out. And if you get thrown out, compete. Watch More
Innovation at Large Companies - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Will companies like Yahoo and Google become large companies who grow stagnant or will they continue to innovate and remain competitors of young start-ups? Randy answers this questions with examples of company
culture. Watch More
Make a Plan - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Adams talks about how the creation of a plan with a logical set of steps is essential to creating a successful business. Within this plan are attainable milestones and the knowledge that as a small company, flexibility is still an
option. Watch More
Overcoming the Fear - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Adams advises that new entrepreneurs ask themselves, what's the worse that can happen? and prepare for it. Hope for the best, but become comfortable with the possibility of failure, he says. Watch More
Passion and Perseverance - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Dedication and hard work are essential in making anything successful. Sacrifice may be necessary, and it's important to set priorities, but never lose passion. Watch More
Take Action! - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Once a plan is established, it is imperative to act on it. As Adams says, most good ideas die for lack of action. Watch More
Testing the Market Viability of a New Technology - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Adams talks about testing the viability of a new technology with potential customers. He recommends entrepreneurs conduct polls and surveys to determine whether there is demand for the technology in the market. Never commit to a
large development effort without prototyping the technology first and taking it to a potential target market, he cautions. Watch More
The Biggest Competitors of New Ventures - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: According to Adams, the biggest competitor of a start-up is a large established company. Their size alone is enough to destroy a young company, says Adams, but large companies are at a disadvantage because they're slow to act and
avoid risk at all cost. Watch More
The Current State of AuctionDrop - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: What keeps Randy up at night with his relatively young company? He states frankly: revenues. Randy discusses a new partnership AuctionDrop has created with UPS Stores, and how they are working to take advantage of the potential
within that partnership. Watch More
The Early Career of a Serial Entrepreneur - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Randy Adams, founder of AuctionDrop, talks about his background, including growing up in Maine, attending MIT, and his realization of his love of creating companies. Watch More
Will Customers Change Their Habits? - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Using AuctionDrop as an example, Adams explains why it's extremely hard to change consumer development. Watch More
Work with the Right VC - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Amidst all of the bad stories circulating about venture capital funding, Randy insists that there are many VCs who are truly interested in the success of a company and will treat entrepreneurs fairly and with
respect. Watch More
You Must Have Vision - Randy Adams (AuctionDrop)
Randy Adams
11/3/2004
Summary: Adams defines the meaning of vision. He also explains the importance of vision to the success of a company. Watch More

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