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We first met at Harvard Business School as young students in 1989. We both went on to have successful careers as consultants and entrepreneurs, and had a passion for working with and investing in younger entrepreneurs. We reconnected in 2016 and began angel investing in startups in New York City.
When we decided to invest in a startup, it was because we saw a unique combination of a strong idea with a solid team. But, even then, we knew that many things could go wrong and that our investments were risky. We also knew how the entrepreneur’s road ahead would be full of ups and downs, and that success would depend on both sheer luck and how their team would adapt and react to new circumstances.
So when Jim floated the idea of a book targeting entrepreneurs to help more of them succeed, we gave it serious thought. We could leverage our own experiences and knowledge as entrepreneurs with rich corporate careers. But, just as important, we had access to a unique network: Harvard Business School alumni. We could complement our own experiences with the experience of other HBS entrepreneurs. The thinking was simple: if HBS entrepreneurs would open up to us about what they learned “the hard way” or what they wished they knew before starting, their wisdom would be interesting and relevant to younger and less experienced entrepreneurs.
We summarize these pearls of wisdom in our new book, Smart Startups: What Every Entrepreneur Needs to Know — Advice from 18 Harvard Business School Founders. The book is full of insights and advice for every stage of your entrepreneurial journey.
Here are three key pieces of wisdom to get you started.
1. There is no random “lightbulb” or “aha” moment. Landing a good idea often requires a deliberate, lengthy ideation process.
For the HBS founders we interviewed, there was no “lightbulb moment” for their startup idea. On the contrary, we were sur… Read More
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