Entrepreneurial Thought Leaders Lecture

Tools

3 Key Lessons for an Entrepreneurial Internet Company - Reid Hoffman (LinkedIn)
Date: 2/7/2007
Length: 3 minutes
Speaker(s): Reid Hoffman (LinkedIn)
Sources: Stanford Technology Ventures Program
Description: Hoffman describes 3 key lessons he learned at his first company, SocialNet. 1) Financing strategy should reflect one's financial capabilities. 2) Focusing on distribution is important. 3) Understanding that the entrepreneurial
skill set is different from what is required to work for an established big company.

Other Videos in Series

3 Key Lessons for an Entrepreneurial Internet Company - Reid Hoffman (LinkedIn)
Reid Hoffman (LinkedIn)
2/7/2007
Summary: Hoffman describes 3 key lessons he learned at his first company, SocialNet. 1) Financing strategy should reflect one's financial capabilities. 2) Focusing on distribution is important. 3) Understanding that the entrepreneurial
skill set is different from what is required to work for an established big company. Watch More
Comparison between an Entrepreneur & a General Manager - Reid Hoffman (LinkedIn)
Reid Hoffman (LinkedIn)
2/7/2007
Summary: Hoffman draws comparisons between a general manager and an entrepreneur by giving his own example of becoming a general manager before starting his company. He also talks about the difference between an entrepreneur who takes wild
risks and a professional general manager who is paid to mitigate risks. Watch More
Core Ideas for a Social Networking Company - Reid Hoffman (LinkedIn)
Reid Hoffman (LinkedIn)
2/7/2007
Summary: Using LinkedIn as an example, Hoffman talks about the three main ideas which drive a successful social networking company. They are: Building a business profile, having a network for search and building an application on top of
it. Such a concept not only helps employers to reference check prospective employees, but the other way as well. Watch More
Entrepreneurship: A High-risk Investment - Reid Hoffman (LinkedIn)
Reid Hoffman (LinkedIn)
2/7/2007
Summary: Hoffman believes that out of three kinds of investment strategies, sure bets, low-risk management and high risk investments, entrepreneurship is the third kind. This style of investment is called accurate contrarian theories where
raising sufficient money might help in mitigating risks, but does not ensure success. Watch More
Facing Competition through Innovation - Reid Hoffman (LinkedIn)
Reid Hoffman (LinkedIn)
2/7/2007
Summary: Hoffman believes that an entrepreneurial venture faces competition by either innovating against no competitors or bad competitors. If they are up against aggressive smart competitors, they have to be really sure of what they are
doing. He elaborates on this by giving an example of 'Friendster' losing its first mover advantage to 'MySpace' due to its lack of marketing strategy. Watch More
Fundamental Principles of Entrepreneurship - Reid Hoffman (LinkedIn)
Reid Hoffman (LinkedIn)
2/7/2007
Summary: According to Hoffman, working as if you will succeed, getting to failure points and measuring them as early as possible, making a timely entry and exit into the market, taking controlled risks and finally, solving the easiest
problems and not the most complex ones are some of the most fundamental principles of entrepreneurship. Watch More

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