Bill Gross Idealab

What Bill Gross, Idealab says about topics vital to entrepreneurs

Bill Gross Posts – Titles

Bill Gross  Posts  – Titles  ( 11 posts)

 

Lessons from Flops

Balance Entrepreneur's Strengths

Harness your User's Passion

Cut Your Burn Until the Market is There

Focus is Always Better

The Great Thing about Failure

The Biggest Entrepreneurial Lesson

Test your Customer Proposition

Market Power Rules

Don't Overbuild-The World can Change Very Fast

A Most Important Entrepreneurial Lesson

A Most Important Entrepreneurial Lesson

Bill Gross Founder and CEO business incubator Idealab

“When you have a great idea, stick with it despite what the critics say. [] This is one of the most important of all entrepreneurial lessons.”  Bill Gross: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Dec. 15, 2011;  http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-9-stick-with-it-32#ixzz1j6CL7bdK

 

Don't Overbuild-The World can Change Very Fast

Bill Gross Founder and CEO business incubator Idealab

“Don't overbuild. The world can change very fast. We had no idea the dot-com crash could come on as fast as it did. It's better to grow slowly, and sacrifice some upside in the short-term, than to go out-of-business because of over-capacity. For us, it was a very painful lesson, and a very valuable one.”  Bill Gross   BILL GROSS: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Dec. 15, 2011;

http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-6-dont-overbuild-26#ixzz1j69K42a8;

http://www.businessinsider.com/bill-gross-lessons-2011-12#ixzz1j5th1O5b

Market Power Rules

Bill Gross Founder and CEO business incubator Idealab

“Market Power Rules. Try to find a rapidly growing market – it's like running a race with a strong wind at your back.

[] But Market Power is a market just taking off without your doing anything about it. [] If, as an entrepreneur, you can find a market that has that kind of dynamic going on, it's absolutely unbelievable.”  Bill Gross: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Dec. 15, 2011; http://www.businessinsider.com/bill-gross-lessons-2011-12#ixzz1j5th1O5b

 

Test your Customer Proposition

Bill Gross Founder and CEO business incubator Idealab

“Find a way to test your core proposition with your customer, then manage your resources to adapt after that. Don’t spend the money in advance. You have to test the real customer proposition. You have to make the example be the actual test.”  Bill Gross: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur,  Dec. 15, 2011; http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-8-test-test-test-30#ixzz1j6AG0Ars

The Biggest Entrepreneurial Lesson

Bill Gross Founder and CEO business incubator Idealab

“[Perhaps the] biggest, entrepreneurial lesson: All truth passes through three stages. First, an idea is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. Think about it: A breakthrough idea is a crazy idea . . . right until it crosses over to be a big breakthrough idea. You must be willing to face some ridicule and opposition before you can make your idea become self-evident.”  Bill Gross: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Dec. 15, 2011, as quoting German philosopher Arthur Schopenhauer;  http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-12-all-truth-passes-through-three-stages-39#ixzz1j6DvYFem

The Great Thing about Failure

Bill Gross Founder and CEO business incubator Idealab

“The great thing about failure and experimentation: You learn so much, and you can usually apply your new wisdom to future ventures, and give them a greater chance for success. That's what I've tried to do, so far, with my four decades of entrepreneurial experiences: Learn from them and build on them.” Bill Gross, BILL GROSS: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Dec. 15, 2011

http://www.businessinsider.com/bill-gross-lessons-2011-12#theres-no-substitute-for-failure-40#ixzz1j6EDsOzm

Focus is Always Better

Bill Gross Founder and CEO business incubator Idealab

“Focus is always better. We were so worried we were going to pick the wrong focus . . .  it turns out that focus is so important, even if you pick the wrong focus you're doing better!  Doing fewer things extraordinarily well connects with the customer. This is a crucial lesson I took to later companies I started.”  Bill Gross,    BILL GROSS: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Dec. 15, 2011;   http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-4-focus-focus-focus-18#ixzz1j67v0bkj;

http://www.businessinsider.com/bill-gross-lessons-2011-12#ixzz1j5th1O5b

Cut Your Burn Until the Market is There

Bill Gross Founder and CEO business incubator Idealab

“If you have a great offering but the market isn’t ready for you yet, immediately cut your burn to survive until the market IS there.”  Bill Gross: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur Dec. 15, 2011;

http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-7-survive-until-the-market-is-ready-28#ixzz1j69khehg

Harness your User's Passion

Bill Gross Founder and CEO business incubator Idealab

One of Gross’ 12 lessons from his 30 years as an entrepreneur is “[] [to] harness your users’ passion.  In the new world of media, you have to create automated ways to get your customers to get you new customers. That’s unbelievably powerful. And there are incredible capabilities available [] to help you to take advantage of that.” Bill Gross: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Bill Gross, Chime | Dec. 15, 2011; 
http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-11-harness-your-users-passion-38#ixzz1j6DiKlA

Balance Entrepreneur's Strengths

Bill Gross Founder and CEO business incubator Idealab

“Design a structure around [the entrepreneur’s] strengths, and balance that by hiring complementary skills.”  Gross enjoys working on many different projects, considering himself unfocused--“[] yet for a company to succeed, it needs focus. At Idealab [they] brought people in with skills [Gross] lack[ed]. [They] devised a structure for companies to succeed by staying laser-like focused on their mission, but allowed [Gross] to be involved in multiple companies.”   Bill Gross: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Bill Gross, Chime  Dec. 15, 2011;  http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-5-recognize-your-strengths-23#ixzz1j68rtWix

Lessons from Flops

Bill Gross Founder and CEO business incubator Idealab   

“[] Though 35 of Idealab's companies have gone public or been acquired, 40 have failed, and Gross says he has learned many valuable lessons from the flops. Among them: It's crucial for company founders to assemble a strong team of complementary talents — not just engineers but socially fluent networkers, logistical wizards, big thinkers. "Where there was strong leadership that came with different points of view, but with mutual trust and respect," [Gross] said, "those companies succeeded more often — it's shocking to me that that is the highest correlation" with a start-up's success.”   Bill Gross,  LA Times article Bill Gross' many business ideas by David Sarno, July 8, 2012;  david.sarno@latimes.com