- Deferred Life Plan
- Step one: Do what you have to do.
- Step two: Do what you want to do.
- Is there a way to unsubscribe from the Deferred Life Plan and combine what you want to do with what you have to do?
- Ask yourself: What would it take for you to do _____ for the rest of your life?
- Drive vs. passion
- Drive: desire to achieve goal with specific payoff
- Passion: pulling towards something you can’t resist
- VCs are quite indirect
- Will never tell you no outright; why burn bridge?
- In a meeting with multiple VCs, many come in and out; one plays good cop, one plays bad cop but is asking questions and acting on behalf of the entire audience
- “Virtual CEO”: provide the team with guidance and leadership when necessary; all decisions/action left to the actual CEO
- In the world of startups
- Business plans should always be flexible as circumstances are constantly changing
- The main idea or vision should remain constant and should be the base for making all decisions
- A successful business centers around people
- Leadership: where “character and vision combine to empower someone to venture into uncertainty”, i.e., allow them to achieve more than they could alone
- Management: “methodical process to produce desired results on time and on budget”