Archive for March, 2014

Quotes For Entrepreneurs–March 2014

Written by Sean Murphy. Posted in Quotes, skmurphy

You can follow @skmurphy to get these hot off the mojo wire or wait until these quotes for entrepreneurs are collected in a blog post at the end of each month. Enter your E-mail address if you would like have new blog posts sent to you.

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“We first make our habits, and then our habits make us.”
John Dryden

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“Anxiety is the hand maiden of creativity.”
T. S. Eliot

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“It is not enough to be industrious; so are the ants. What are you industrious about?”
Henry David Thoreau

Other versions of this exist but this version is taken from Thoreau’s letter to his friend, H.G.O. Blake, on 16 November 1857.
h/t The Henry D.Thoreau Mis-Quotation Page at Walden.org

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“It is not enough to tolerate dissent: sometimes you have to demand it.”
Jack Galvin

h/t Brad Pierce in a comment in “Terry Frazier on How to Do Real Competitive Analysis

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“Society functions in a way much more interesting than the multiple-choice pattern we have been rewarded for succeeding at in school. Success in life comes not from the ability to choose between the four presented answers, but from the rather more difficult and painfully acquired ability to formulate the questions.”
David Mamet in The Secret Knowledge

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“Design is creativity with a strategy.”
Rob Curedale

h/t Expa.com (@Expa) also found at Quotes on Design, a great resource for design quotes.

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It’s not wise to violate rules until you know how to observe them.
T. S. Eliot

In an interview with Donald Hall in the Paris Review “T. S. Eliot, the Art of Poetry No. 1” Eliot said:

“I wanted to get to learn the technique of the theater so well that I could then forget about it. I always feel it’s not wise to violate rules until you know how to observe them.” T. S. Eliot

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“Watch what people are cynical about, and one can often discover what they lack.”
George S. Patton

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“My capital is time, not money”
Marcel Duchamp

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“Anytime we see a line, the product in question is underpriced.”
Naval Ravikant (@naval) in “The Bitcoin Model for Crowdfunding

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“Opportunity is sometimes hard to recognize if you’re only looking for a lucky break.”
Monta Crane

h/t Gerald Weinberg (@JerryWeinberg)

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“If thou art a writer, write as if thy time were short, for it is.”
Henry David Thoreau

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“How can so many things I’ve no more use for still have so much meaning for me.”
Ashleigh Brilliant

I feel this sensation most strongly when I look through boxes in my garage that store items I kept from old jobs and old startups. I regret loss of things I threw away: pictures and printouts I posted on the walls of my office or cubicle, chip plots, trade show posters, etc…

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“Execution focus yields a prioritized network of interdependent tasks;
exploration yields a portfolio of risks and options.”
Sean Murphy

I have been helping Patrick Steyaert on a new version of his Discovery Kanban talk. This sentence was my attempt at crystallizing the difference between execution and exploration.

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“Sometimes you come to an edge that just breaks off.”
Anne Carson

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“I know the price of success; dedication, hard work, and an unremitting devotion to the things you want to see happen.”
Frank Lloyd Wright

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“Luck cannot be duplicated.”
Richard Kostelanetz

h/t James  Geary
Used as a the opening quote for Feeling Lucky is Not a Strategy

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“Diligence is the mother of good luck.”
Benjamin Franklin

Used as the closing quote for Feeling Lucky is Not a Strategy

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“We work to become, not to acquire.”
Elbert Hubbard

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“A focus on revenue is core to bootstrapping but often at odds with the ‘venture lifestyle business.'”
Sean Murphy

In reply to a tweet by Rashaun P. Sourles (@rashaunps) “@skmurphy: Though my last startup failed, I’ve never forgotten the lessons you taught me about hustling early revenue. Just wish I had listened!”

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“The charm of fishing is that it is the pursuit of what is elusive but attainable, a perpetual series of occasions for hope.”
John Buchan

I think there are similarities to the early sales process. I can recall once waiting in a conference room with two founders staring at a speaker phone waiting for a scheduled call to start and feeling an eerie similarity to standing at the edge  of a pond with other boys holding our fishing poles with our lines in the water. It led me to write one of my “details as they..” tag lines:

“Details as they stand poised in an expectant silence, like runners before a starting gun, old men waiting for the fish to bite, or a sales team clustered around a speakerphone waiting for the prospect to call back.”

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“We cannot become what we need to be by remaining what we are.”
Max De Pree

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“Patience is a most necessary qualification for business; many a man would rather you heard his story than granted his request.”
Lord Chesterfield

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“Don’t take business advice from people with bad personal lives.”
Frank Chimero “Some Lessons I Learned in 2013

Used as the opening quote for “Building a Business Requires Building Trust.”

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“The wise speak only of what they know”
J.R.R. Tolkien

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 “Fame is something that must be won.
Honor is something that must not be lost.”
Arthur Schopenhauer

Used as closing quote for “Building a Business Requires Building Trust.”

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“You have to finish things — that’s what you learn from, you learn by finishing things.”
Neil Gaiman

h/t Neil Gaiman’s Advice to Aspiring Writers

Gaiman has offered at least two variations on the importance of learning from finishing:

“Whatever it takes to finish things, finish. You will learn more from  a glorious failure than you ever will from something you never finished.”
Neil Gaiman during “Question Time” section of “An evening of awesome with Hank and John Green” (Jan 15 2013) [transcript]

and

“Personally, I think you learn more from finishing things, from seeing them in print, wincing, and then figuring out what you did wrong, than you could ever do from eternally rewriting the same thing.”
Neil Gaiman in “No longer the blog without giraffes

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“The colossal misunderstanding of our time is the assumption that insight will work with people who are unmotivated to change.”
Edwin H. Friedman

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“The quality I most admire in a man is steadfastness.”
David Mamet

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“There is nothing so fatal to character as half-finished tasks.”
David Lloyd George

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“I have woven a parachute out of everything broken.”
William Stafford

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“Delivering value is a pre-requisite for sustainably capturing value i.e. getting paid.”
Ash Maurya (@ashmaurya)

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“An MVP is about delivering real value to customers for the purposes of maximizing validated learning.”
Shardul Mehta in “A Case Study in Defining an MVP

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“Great things are not done by impulse, but by a series of small things brought together.”
George Eliot

Update April 2: this appears to be incorrectly sourced to Eliot and is in fact a quote from Vincent Van Gogh in a letter to his brother Theo Sun-Oct-22-1882

“For the great doesn’t happen through impulse alone, and is a succession of little things that are brought together. ”
Vincent Van Gogh

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“Sometimes one pays the most for things one gets for nothing.”
Albert Einstein  in “What Life Means to Einstein: An Interview by George Sylvester Viereck” published in ‘The Saturday Evening Post’ on October 26, 1929

h/t Quoteyard

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“When you’re more susceptible to interruption, you do more out of the box thinking.”
Don Norman (found at  Quotes on Design)

Seems to be based on the last sentence in this paragraph from “Emotion & Design: Attractive things work better

Affect makes us smart, that’s the lesson of my current research into the role of affect. This is because affect is always passing judgments, presenting us with immediate information about the world: here is potential danger, there is potential comfort. This is nice, that bad. The affective signals work through neurochemicals, bathing the relevant brain centers and changing the way we perceive, decide, and react. These neurochemicals change the parameters of thought, adjusting such things as whether reason is primarily depth first (focused, not easily distracted) or breadth first (creative, out of the box thinking, but easily distractible).

[…] Positive affect broadens the thought processes, making it more easily distractible. When the problem requires focus, this is bad, but when the problem is best addressed through creative, out-of-the-box thinking, then this is precisely what is needed.

 

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“Calvin: I’m a misunderstood genius.”
“Hobbes: What’s misunderstood?”
“Calvin: Nobody thinks I’m a genius.”
Bill Watterson

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“Think you’re escaping and run into yourself.
Longest way round is the shortest way home.”
James JoyceUlysses

h/t Shaun Moran (@ShaunM_Dub) offered as a response to Einstein quote: “Sometimes one pays the most for things one gets for nothing.”

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If you think lemons are bitter try some of that fruit from the bin labelled “experience.”
Sean Murphy

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“Change careers like Tarzan: don’t let go of the old until the new supports you, but don’t lose momentum.”
Derek Sivers (@sivers) in “Change Careers Like Tarzan

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“The shortcut that’s sure to work, every time: take the long way. Do the hard work, consistently and with generosity and transparency. And then you won’t waste time doing it over.”

Seth Godin in “The Certain Shortcut

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Building a Business Requires Building Trust

Written by Sean Murphy. Posted in 3 Early Customer Stage, 4 Finding your Niche, 5 Scaling Up Stage, Sales, skmurphy

“Don’t take business advice from people with bad personal lives.”
Frank Chimero “Some Lessons I Learned in 2013

One of the hallmarks for success in a business-to-business market is the ability to form personal relationships as well as professional business relationships. Both require building trust. I am always dismayed when I read advice that advocates bait and switch or other forms of con games that erode trust and make it difficult for any startup to build relationships.

Great Demo Workshop Attendee: “Holy Crap! My Demos Have Too Much Detail”

Written by Sean Murphy. Posted in Demos, Sales, skmurphy, Testimonial, Workshop

After every Great Demo! workshop we contact the attendees with a short E-Mail that reads in part:

I want to check-in to see how you have been doing using the ideas and skills we covered in our Great Demo! Workshop three months ago.  Specifically, I’d like to hear:

  1. What have been the results so far?
  2. Do you have any success stories to report or share?
  3. Any questions or new situations you’d like to discuss?

What follows is a redacted e-mail from a real attendee at a recent Great Demo workshop. We have his permission to post it, but he asked that we remove identifying information because of his candor about his approach to demos before he came to the workshop.

Hello Peter,

I would like to tell you that your workshop has had a positive impact not only on my demos, but also on my customer meetings in general.

The key message I took away, “Do the last thing first,” has proven very effective at increasing customer engagement in our demos. Our product is a sophisticated one with a long history–what are prospects sometimes describe as “very complex” or “arcane” even “confusing.” We sometimes present modules that–in hindsight–were of no of interest to the customer. This can not only turn a demo into a waste of everyone’s time but also convert a hot prospect into a lukewarm one.

It’s seems obvious now, but getting right to the point and then working backwards based on the customer’s level of  interest (“Peeling back the onion”) has triggered a lot more questions and demos that end in clearly defined next steps instead of “you’ve given us a lot to think about, please let us get back to you.”

The example that really punched me in the gut when I realized what I had been doing was your hyperkinetic impersonation of someone doing a demo of Microsoft Word. Your first answer to  the question, “Can you print?” seemed  reasonable: you opened the print dialog box and walked through all the print options in detail–portrait or landscape, single or double-sided printing; color or black and white, number of copies, print quality, etc…

But when you did the second take and said “Yes, would you like to see it?” and clicked the print icon I had this terrible sinking feeling.

“Holy Crap! My demos have too much detail,” I said to myself.

Change is hard, but the three of us who attended your class took the “Great Demo” approach back and have seen a difference in the number of demos that now lead to sales that are progressing.

You may be in the same predicament if your approach demos involves one or more of the following:

  • You include a multi-slide corporate overview whether the prospect requests it or not.
  • Demos are viewed as an opportunity to provide training on your product.
  • It’s not uncommon for a demo to end with prospects sitting in stunned silence or murmuring, “let us think about this and get back to you” instead of asking questions.

We have two Great Demo! workshops on on the calendar for 2014 in San Jose

May 21&22, 2014 “Great Demo!” San Jose, CA Register Now
October 15&16, 2014 “Great Demo!” San Jose, CA Register Now

Learn How to Market Your Expertise March 25 in Sunnyvale

Written by Sean Murphy. Posted in Events, skmurphy

Getting More CustomersWhether you are a software startup or a consultant you have to convince prospects that you have the expertise to solve their problems by what you say, what you write, and what others say about you. This three hour workshop will outline a mix of proven marketing techniques for generating leads for your business. Attendees will select one or two that best fit their style, present them in a roundtable discussion format for refinement, and leave with a ninety-day action plan for incorporating them into their business.

When/Where:  March 25, 2014 9am-12:30pm in Sunnyvale, CA
Cost: $90 includes lunch

Register Now

Office Hours: Schedule Time To Walk Around Your MVP

Written by Sean Murphy. Posted in Lead Generation, Sales, skmurphy

Office Hours ButtonLooking for advice on lead generation or closing deals?  Consider scheduling “office hours” to walk around your current sales process or a particular opportunity you are trying to close.

SKMurphy functions as a startup advisor to help you understand the process of building a business. We understand the challenges of selecting an advisor–and advising entrepreneurs–and have blogged about it a few times:

We offer a no-cost, no-obligation MVP Readiness Assessment.
Request a consultation at https://skmtest.wufoo.com/forms/skmurphy-office-hours/

Discovery Kanban Helps You Manage Risks and Options In Your Product Roadmap

Written by Sean Murphy. Posted in Customer Development, Lean Startup, skmurphy, Tools for Startups

I came across this presentation from LLKD13 (#LLKD13  / storify) by Patrick Steyaert (@PatrickSteyaert) of Okaloa on Discovery Kanban after following some links off a Kanban discussion group last year:

Slides

Video

It’s a complex and challenging presentation that connects a number of different concepts–including fitness landscape models, the Cynefin framework  and its concept of probes, the OODA loop, optionality–into a coherent synthesis: Kanban models can be used not only for managing execution or delivery flow by minimizing the amount of work in progress, but also for managing the discovery process of curating a portfolio of risks and options.

At a high level an execution focus yields a prioritized network of interdependent tasks; exploration yields a portfolio of risks and options.

I had the good fortune to meet Arlette Vercammen of Okaloa a the Lean Startup Conference 2013 and we had a conversation that has sparked an ongoing collaboration around helping Okaloa evolve their Discovery Kanban model both for startups and change agents in larger firms.

Patrick will be providing an updated version of the presentation June 16 in Leuven, Belgium:  “More Agility and Predictability with Visual Management and Kanban.”

Related blog posts and articles

Engage Your Website Audience

Written by Theresa Shafer. Posted in Lead Generation, Polls, tshafer

We all want it – an engaged and interested audience. Here are three easy ways to make your website more interactive and engaging to your audience.

1. Ask Questions

Asking questions is the best way to encourage questions. Maybe it is time to add surveys, online chat, office hours, or a blog post with questions to your site. An example is “Are you looking for advice?” with a “Request an Office Hour”

2. Add a Poll

People love knowing how they compare to others. Polls are common in online presentations. It may be time to add them to your website. One example is a community (www.bootstrappersbreakfast.com) that shares resources with their the “best of” polls. See one example about least productive hours of the work day

3. Provide an Assessment

Collect data from your audience and build an assessment with an online questionnaire or survey. See one example about website credibility

Feeling Lucky Is Not a Strategy

Written by Sean Murphy. Posted in 1 Idea Stage, 2 Open for Business Stage, 3 Early Customer Stage, skmurphy

Some startups just “go for it” and pursue their vision without any real strategy. In the same way that the losers are never interviewed after after the lottery numbers are announced, press and pundits draw startup lessons by restricting their focus to the winners. It’s bullshit.

Feeling Lucky Is Not A Strategy

“Luck cannot be duplicated.” Richard Kostelanetz

Riffing on a Nov-2-2013 TechCrunch post by Cowboy VenturesAileen Lee (@aileenlee) “Welcome To The Unicorn Club: Learning From Billion-Dollar Startups” Ryan Hoover suggests that you should “Forget What You Know: There is No Right Way to Start Up”[1][2]

“They didn’t talk to people. They didn’t do market research. They didn’t create a landing page to see if people would enter their email. They just built it. For the past year, they invested in the team and technology to prioritize speed of iteration with disregard to traditional methods of customer development and company building.”
Ryan Hoover in “Forget What You Know: There is No Right Way to Start Up”

This is not a methodology, it’s hoping to get lucky. The article cites several startups that may have gotten lucky as proof of…I am not sure, I guess that it’s possible to get lucky.

“Lean methodology and the startup community at large, espouses customer interviews, landing page tests, concierge experiments, and other tactics for testing hypotheses and measuring demand before building a product. In many cases, this is good advice but sometimes it’s a waste of time or worse, directs entrepreneurs away from something truly great.”
Ryan Hoover in “Forget What You Know: There is No Right Way to Start Up”

For every team that gets lucky I wonder how many thousands run through their savings in search of the “truly great” (why not “insanely great” I wonder, why the compromise)  without talking to customers or testing their hypotheses. Perhaps a more careful and detailed analysis will uncover ways to duplicate the success of some of these startups but I worry that it may be like trying to select the winning lottery ticket: the fact that some people do it does not change the fact that on average it’s a terrible investment strategy.

“Diligence is the mother of good luck.”
Benjamin Franklin


Ryan’s essay also appeared on LinkedIn and TheNextWeb:

I don’t think this “Forget What You Know” post is representative of the quality of Ryan’s insights. Here are three blog posts by him that I have found very useful and recommend reading:

 

IEEE CNSV Mastermind 2014

Written by Theresa Shafer. Posted in Consulting Business, Events

Mastermind GroupsWe wanted to let all of you know that IEEE-CNSV has a new benefit for its members. You have a chance to join and participate in a formal Mastermind (Peer Support) Group. This group is much different from our regular meetings. We will meet for a fixed set of four weeks about every other week starting on April 3, 2014. Group members will make a commitment to come to all of these four meetings, and to keep what is discussed in confidence. So, that means the members really get to know each other, and work on what is keeping their businesses from higher levels of success.

All attendees MUST have a CNSV profile (here is information on how to join CNSV). The group size will be limited to 12 attendees, so sign up right away if you to participate.

  • DATES:  Thursdays in April & May — April 3, April 17, May 1 and May 15 of 2014
  • TIME: 4-6pm
  • LOCATION: Hobee’s at 800 W Ahwanee Ave, Sunnyvale, CA 94085 (just off Mathilda Ave at 101)
  • COST: Free, but agree to purchase something from the restaurant, so they will reserve this room for us. This set of four meetings would normally cost $200, so this is a real bargain.

REGISTER: http://www.meetup.com/BayAreaMastermind/

WHAT MIGHT BE DISCUSSED IN A MASTERMIND MEETING?

Mastermind meetings allow you do share ideas as to what areas you are considering for the growth of your business, or your business and life balance. You will get feedback from your peers on how to resolve the concerns.

Areas that could be discussed:

  • Business Plans for 2014
  • How to get more business
  • ow to handle the stress of too much business at one time
  • How to get out from under Brokers
  • How to keep up with changing technologies
  • Whatever concerns or challenges you might be having

Video from Lean Innovation 101 Talk at SF Bay ACM Nov-20-2013

Written by Sean Murphy. Posted in 1 Idea Stage, 2 Open for Business Stage, 3 Early Customer Stage, 4 Finding your Niche, Events, Lean Startup, skmurphy, Video

The video from my “What is Lean–Lean Innovation 101” talk is up:

Here is the description for the talk

“Lean” provides a scientific approach for creating a product and developing new businesses. Teams can iteratively building products or services to meet the needs of early customers by adopting a combination of customer development, business-hypothesis-driven experimentation and iterative product releases. This talk covers:

  • Why more and more companies are using Lean
  • What is Lean, what it is not
  • Key concepts
  • Get Out Of Your BatCave
  • Use an initial product (MVP) as a probe to explore the market
  • Build-Measure-Learn
  • When and how to pivot
  • Rules of thumb for successful lean innovation

I want to thank Alex Sokolsky for his outstanding effort on behalf of SF Bay ACM doing the video capture and editing.

IEEE-CNSV Panel Explores Engineering in Japan vs Silicon Valley Mon-Mar-3

Written by Sean Murphy. Posted in 1 Idea Stage, Events, Silicon Valley, skmurphy

I am helping to moderate a panel 7pm Mon-Mar-3 at IEEE-CNSV on “Innovation: Work and Life of the Engineer in Japan and Silicon Valley” The event takes place at Agilent Technologies, Inc. in the Aristotle Room, Bldg. 5 located at 5301 Stevens Creek Blvd., Santa Clara, CA 95051. There is no charge to attend and the event is open to the public.

The event is organized by Takahide Inoue, the Global Outreach Director for the Center for Information Technology Research in the Interest of Society at UC Berkeley.

The panel members are:

  • Takashi Yoshimori, Toshiba Semiconductor
  • Laura Smoliar, Independent Consultant, Signal Lake Venture Capital
  • Tom Coughlin, IEEE Region Six Director-Elect, CNSV member and Independent Consultant
  • Kim Parnell, Past Chair, IEEE Santa Clara Valley Section, CNSV member and Independent Consultant
  • Brian Berg, Past Chair, IEEE Santa Clara Valley Section, CNSV member and Independent Consultant
  • Sean Murphy, moderator.

Here are some of the questions I hope the panel is able to address:

  • What are innovation lessons from Silicon Valley?
  • How does Silicon Valley do so many innovations?
  • What are innovation lessons from Japan?
  • How do Japanese engineers sustain their interest in a topic to achieve mastery instead of moving on to the “new hot thing” or next “bright shiny object?”
  • What makes an innovative culture? What can other areas do to create an innovative culture?
  • In Silicon Valley, we tend to celebrate the individual over the group. For Silicon Valley engineers how do you give back to your  community?
  • The Japanese say that “the nail that sticks up gets hammered down.” For Japanese engineers, how do you disagree constructively with your peers to foster innovation?
  • What advice do you have for engineers for finding an idea that can inspire them to work on for several years before it becomes a reality?
  • How do you see the work of the engineer changing in the next five to ten years?

I hope you can join us tomorrow night. Here are some background material on Silicon Valley’s innovation culture you may find relevant.

Here are five related blog posts about Silicon Valley it’s entrepreneurial culture

Finally Tom Wolfe wrote “The Tinkering’s of Robert Noyce” about the founding and early culture at Fairchild and Intel for Esquire in December of 1983 and updated it for Forbes ASAP fourteen years later as “Robert Noyce and his Congregation.” (Aug-25-1997).


The text of California Historical Marker 836:

PIONEER ELECTRONICS RESEARCH LABORATORY – This is the original site of the laboratory and factory of Federal Telegraph Company, founded in 1909 by Cyril F. Elwell. Here, Dr. Lee de Forest, inventor of the three-element radio vacuum tube, devised the first vacuum tube amplifier and oscillator in 1911-13. Worldwide developments based on this research led to modern radio communication, television, and the electronics age…California Registered Historical Landmark No. 836..Plaque placed by the State Department of Parks and Recreation in cooperation with the City of Palo Alto and the Palo Alto Historical Association, May 2, 1970

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