entrepreneurial mindset

In choosing who to date, what job to pursue, or how to invest our money, most people are just looking for a reason to move forward. But according to Professor Ilya Strebulaev, we should be looking for something else: a reason to bail.

"The smartest venture capitalists ask a very different question from what most of us ask," says Strebulaev. Instead of asking “‘Why should we invest?’, venture capitalists approach every new opportunity with [the] question: Why should we not proceed?” This contrarian mindset is at the heart of Strebulaev's new book The Venture Mindset, which reveals how the strategies of top VCs can help anyone make sharper decisions. 

In this episode of Think Fast, Talk Smart, Strebulaev joins host Matt Abrahams to discuss how the venture mindset can help anyone — investor or not — weigh alternatives, make decisions, and move forward without looking back.

Episode Reference Links:

• Ilya Stebilaev: Website 
• Stanford Profile: Website
• Ilya’s Book: The Venture Mindset 
• Venture Capital Initiative
• Article Ilya & Alex Dang wrote: 3 Things VCs Do That Can Help You Land Your Dream Job After Getting Laid Off 
• Ilya’s co-teacher for his Venture Capital class: Brian Jacobs 
• Ep.41 Speak Like a Founder: How Successful Entrepreneurs Communicate to Their Teams YouTube / Website 
• Ep.56 Lean Messaging: How Simple Messages Really Stick YouTube / Website

Connect:

• Email Questions & Feedback >>> thinkfast@stanford.edu
• Episode Transcripts >>> Think Fast Talk Smart Website
• Newsletter Signup + English Language Learning >>> FasterSmarter.io
• Think Fast Talk Smart >>> LinkedIn Page,  Instagram, YouTube
• Matt Abrahams >>> LinkedIn
• Stanford GSB >>> LinkedIn & Twitter

Chapters:

(00:00:00) Introduction

Host Matt Abrahams introduces guest Ilya Strebulaev, founder of the GSB's Venture Capital Initiative and professor at Stanford Graduate School of Business.

(00:00:53) The Venture Mindset

Insights into the venture mindset as a new mental model for making smarter, quicker decisions.

(00:02:22) Embracing Failure

How venture capitalists embrace and learn from failure to achieve success.

(00:05:21) Decision-Making in Venture Capital

A unique approach to decision making based on what successful venture capitalists do.

(00:07:34) Applying Venture Principles in Personal and Professional Life

Venture mindset principles that can help individuals in job transitions and personal growth.

(00:10:05) Lessons from Teaching Venture Capital

Ilya outlines key takeaways he hopes his students learn from his class, including thinking differently and networking effectively.

(00:13:25) Passionate Communication

Using descriptive language to engage others, including mixing familiar terms with unique ones to enhance communication about passions

(00:15:29) The Final Three Questions

Ilya shares how he has grown from writing his book, a communicator he admires, and three ingredients for successful communication.

(00:18:59) Conclusion

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Welcome back to Girls That Startup, a weekly series where we spill the tea on how to create a seven-figure side hustle - because no one saves their way to wealth. You’re joined by Sim, a seven-figure business owner, and Maia, an entrepreneur in the making.

This week, Sim and Maia discuss the transition from employee to entrepreneur, emphasising the importance of leveraging transferable skills like people skills and attention to detail. They share personal experiences and advice for listeners considering making this transition, highlighting the value of taking initiative and reframing mindset challenges. Tune in for insights on how to thrive in entrepreneurship and build a successful business while honing your unique skill set.

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'Til next week, team! 💖

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Jimmy Fallon may talk like a comedian, but he thinks like a restless entrepreneur. In addition to his day job as host of The Tonight Show, he runs a TV production company, writes best-selling children’s books, and creates products you never knew you needed, like all-day pajamas and “hands high” jerseys that show the name of your favorite team in the armpit. As a kid, Jimmy was obsessed with perfecting his impressions of Richard Pryor and Steve Martin, with the goal of one day starring on Saturday Night Live. After an incredibly successful 6-year run on that show, he tried to make it in film, only to eventually find his way to one of the most coveted jobs in television. Today, he’s constantly generating new ideas, whether for a new TV show, or a Christmas tchotchke called Elvis on the Shelvis.

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Get your step by step blueprint to success in this episode of Empire Podcast and learn directly from Bedros Keuilian and Craig Ballantyne the 7 steps you need to adopt immediately to build your lasting abundance mindset.

"Give and give without expectation and watch what happens back" - Bedros Keuilian

THE SPEED OF THE LEADER DETERMINES THE RATE OF THE PACK.
Philip is now running for Governor with a progressive vision to move Florida forward as a leader in the 21st century economy. He wants to revitalize the economy, envisioning a Florida with better-paying jobs, more competitive public schools, and an entrepreneurial approach to protecting our environment.
In the past, he funded his own campaign, refusing money from special interests, and easily won re-election to two terms with a majority of the vote.
On this episode we had a really amazing conversation. Before he was ever in public office, Philip was an entrepreneur, creating multiple companies and scaling them to great success.
He let me in on some incredible information a lot of people don't know about him, including how he gave back to one of the most influential people from his childhood.
Philip goes into detail on how he led a successful election campaign, the lesson he learned from Bill Clinton, and how you can become a better communicator.
If you want to hear how you can be a better entrepreneur and better humanitarian at the same time then you need to listen to Episode 602.
Some Questions I Ask:
What made you want to transition from entrepreneur to mayor? (6:50)
How do you enroll people in a single company that's going to be gone a year later? (10:20)
When did you first connect with Bill Clinton? (14:55)
What's something Clinton isn't notorious for that makes him different? (19:28)
Who was your greatest teacher growing up? (26:32)
What's the biggest lesson your mother taught you? (28:52)
Do you think everyone should serve in public office at some point? (33:47)
What's an entrepreneurial approach to helping our environment? (38:04)
What's the biggest challenge that you've had to overcome? (41:36)
In This Episode You Will Learn:
How Philip's background in marketing gave him an edge (9:30)
When he first felt the need help people (13:46)
The greatest lesson he learned from Bill Clinton (17:03)
How to train yourself to be a better communicator (22:53)
Which of his parents was the more inspiring teacher (27:36)
What got him so involved in the environment (30:28)
How you can get involved in your community (34:08)
What Philip thinks we need the most as a society (41:12)
What he is most proud of that most people don't know about him (42:48)
And much, much more