BrownHEN / BrownHEN.org

Indelible Mark

Even though my entrepreneurial instinct was dormant during college, I did cull two lessons from one of my favorite Brown professors and deans, Barrett Hazeltine. The first, never be afraid to pursue my dream and do the right thing, even if this strays from the conventional path. The second lesson—and this I have observed time after time from my parents as well—is that we each can make a difference with one individual at a time, by being there when the individual—whether a friend or a stranger—needs us, and by giving with heart.

Dean Hazeltine encouraged and supported me when I needed his counsel, especially during my senior year. From my interaction with fellow Hazeltine alumni, I learned that Dean Hazeltine has served as a beacon for so many of us as we navigate our journeys in life. BrownHEN is my tribute to you, Barrett Hazeltine, for your indelible mark on each and all of us. Thank you for making a difference!

Interview with Barrett Hazeltine, PhD.

BrownHEN interviewed Barrett Hazeltine, PhD – June 25, 2007

1. Dean Hazeltine, for thousands of Brown grads, you are known as the father of entrepreneurship who has advised and helped countless of former students start their own companies and guided them to success. What many people don't know is that you yourself have had your own entrepreneurial success. I kept hearing from different alumni vague stories about your patent way back when. Would you speak to this and share some of your experience with us?

I am really afraid to disappoint you because the actuality is much less exciting than the rumor. About 25 years ago, a Brown graduate named Dick Simon came up and said he owned a company, U.S. Billiards, which made coin-operated pool tables. In these kind of tables one gets the cue ball back if it goes down a pocket. He needed some way of distinguishing the all-white cue ball from the other balls. His competitors either made the cue ball slightly smaller or heavier but both approaches had faults.

Another Brown professor and I designed and built a device using small lights and light-sensitive detectors that recognized the cue ball. Not to bore you with the details, the hardest ball to detect was the one with a yellow and white strip but it turned out that the three detectors would work. The device worked and was deployed but the market for coin-operated cue ball dried up.

I have a vague memory of getting my name on a patent when I was working at Raytheon in 1965, but the group of people working on the project was large, and I do not remember the details.

Matt Paknis, whom you know, another Brown alumnus Ray Steele and I formed a company to do management consulting. We mostly worked on work force motivation and team building—Matt’s specialty. The company did fine, but I did not want to give up my day job (Brown) so I did not spend as much time with it as it needed. After a few years, I went off to Africa and the company got reorganized with Matt as the sole proprietor. I still collaborate with Matt on various projects.

Another entrepreneurial venture is a new charter school in Providence—called the Paul Cuffee School. I was on the original board and still am. We had our first 8th graduation last Saturday (6.23.07).

2. Time and again, I have heard from fellow Brown alumni of your creative input in helping them solve their entrepreneurial and professional challenges. When did this entrepreneurial instinct surface in your life?
You ask hard questions! One quality of an entrepreneur, I think, is curiosity about many different things and I think that came out early. A related characteristic is wanting to try new ways of doing things—which is not an endearing trait for parents and colleagues trying to get a short-term goal accomplished. But I did not think of staring a business until much later in life—did not realize how exciting, challenging, and exciting it would be. Like many aspects of a persona, the entrepreneurial spirit is present in many people, but needs to be allowed to flourish.

Did you receive support from friends and family to nurture it?
Not much. I think I got the most support later in life by watching students succeed with their own ventures. My impression is that many successful entrepreneurs start out as a lonely gladiator with perhaps a single partner; only after achieving some success will they have credibility to attract a team, or a mentor. Being strongly involved with a group early dilutes the passions and slows the process.

3. How do you advise young entrepreneurs to cultivate this entrepreneurial DNA?
In early stages inspiration is probably most important and one place to get that is reading about the efforts and successes of other entrepreneurs. I like FAST COMPANY magazine because the articles are suitable and have a nice combination of insight and brevity. I am sure there are other magazines or even books that are equally exciting. After one has read a few articles, my advice is to go out and do it—be an entrepreneur, walk the talk. The rest of what you need to know, you learn as you go.

4. What are the three common factors that you have noted among your former students, which contributed to their successes?
Persistence, desire to learn about many things, appropriate blend of wanting to be independent and a willingness to listen to others. This is turning into about five common factors. Persistence has two aspects: 1) sufficient confidence in one’s self and one’s idea to continue despite discouragements and 2) willingness to work very hard.

The entrepreneur has to make a whole lot of things work together; unless she or he really enjoys learning about each of these things a project will not come to fruition. On the other hand, an entrepreneur must be relentless in pursuing the core of her/his vision—else why work so hard? On the other hand, most of the entrepreneurs I know about seem to have benefited significantly from advice originating from outside the enterprise.

5. What advise do you have for this next generation of entrepreneur hopefuls? How has the landscape changed since 20 or 30 years ago?
Seems to me entrepreneurship is much more generally accepted now than it was even a decade ago. My impression is that it used to be the case if a college graduate went home and told her/his parents that s/he wanted to be an entrepreneur, the reaction would be horror and disbelief. I think that has changed. People recognize much more than in the past the need for this country to have new ventures and the overall social value of entrepreneurship. Loneliness used to be a big pain for an entrepreneur, “Am I the only one facing these problems?” More support and resources are now available: nonprofit groups, state agencies, as mentioned earlier, magazines, etc. There seems to be more venture capital around and more angels—certainly there are more investment firms than in the past and most states have agencies to encourage entrepreneurs.

6. You’ve given so much of yourself to your students. What do you hope that they in turn can pass on to their students and protégés?
I hope young entrepreneurs—successful or not—will encourage the next set of entrepreneurs. Not all can give advice or funds, but all can spend a few minutes listening and offering some kind and helpful words. An appropriate mixture of praise and realism is needed. The confidence of young entrepreneurs is often fragile, even if hidden by bravado; an advisor should not damage that confidence. I hope senior people will also pass on to others a need to consider the implications of what is being proposed—will it make people kinder and more generous? Will it protect the environment? And so on.

Copyright 2007 - BrownHEN.org

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Interview with Matt Paknis, CEO of MattPaknis.com

 

BrownHEN interviewed Matt Paknis, Brown '85 and CEO of MattPaknis.com, Boston, MA.

1. Matt, what are the biggest differences between working for a corporation and working for yourself—in terms of daily life, employer expectations, etc.?

Working for someone else:
• Goals and agendas are established for you; you are part of a team.
• Decisions are often made for you.
• Expectations / reporting relationships can readily change.
• Travel may be required.
• Structured days, steady paychecks, benefits, and insurance.

Working for myself:
• Set my own goals with clients.
• Clients, friends, family, and associates become my team.
• Day is structured to complete client tasks, administer, and build business.
• I have the freedom to help at school and around the house when I choose.
• Marketing my work is critical and challenging.
• I’m part of the decision-making process.
• Travel is optional.
• I generate my own income and pay for all my benefits.

2. Describe how you made the move from an employee of a big corporation to independent consultant. What advice do you have for people thinking about a similar move?

Here’s the road I took:
• Started designing and delivering team building programs in 1991.
• Facilitated corporate programs at a university retreat center.
• Consulted inside these organizations and developed management improvement programs.
• Worked as an internal consultant for a large financial services corporate client.
• Designed management development programs for this firm nationally.
• Certified in selection, coaching, leadership, facilitation, dialogue, training assessment and evaluation, and communications programs.
• Worked with people and teams in conflict.
• Certified and trained in conflict management, dispute resolution and mediation.
• Created for Brown, with Barrett Hazeltine, a 50-hour “Practice of Management” certificate program. This led to additional consulting opportunities.
• Stepped out on my own in 2003 after nine years of consulting and working a full-time job.

My advice: learn what you really enjoy doing, and what people recognize you for doing well, and then find a place you can practice this to support yourself while you can grow independently.

3. You have been involved in coaching—both college football teams and business professionals. Can you give advice about coaching entrepreneurs?

Entrepreneurs tend to see solutions fast, so coaching them should include:
• Brevity.
• Incremental goals, clear focus, vision, and targets.
• Reflective listening to help them hear and assess ideas.
• Explorative inquiry to help them refine an idea or process to create their solutions.

Football coaching tends to be one-way communication. Corporate and 1:1 coaching are more reflective and exploratory. It’s intended to help the entrepreneur realize his or her goals with support, encouragement, and reflection.

4. Many successful large organizations claim they strive for entrepreneurial and innovative cultures. Their record at innovation, at best, is mixed. Why aren't these large companies—rather than startups—on the cutting edge of innovation.

Earlier this year an established manufacturer hired me to facilitate the creation of its innovation team, comprised of its best international talent. The team’s leader questioned their ability to rock his industry with new concepts and ideas because:
• Established, publicly-traded companies are rewarded for maintaining incremental growth and for avoiding risk.
• The innovation and risk expected from his team might cost money in the short term.
• He felt they could thrive only if they were given a separate budget—free from the  corporation to explore and take chances, like a startup.

5. How does having a family with (fairly) young children influence being an entrepreneur and a management consultant?

There are varied benefits and challenges. Here are some benefits:
• I travel less now than when I worked for a corporation.
• When I do travel, some of my clients have offices in great locations. I do my
best to blend work with family vacations when I visit these spots.

And some challenges:
• My office is in my home. There are times when I have to lock the door to complete proposals and reports, or to conduct phone calls.
• I try to structure my day like my office is out of the house. This does not always work. Thus, it’s hard to have down time.
• Challenges also occur when my kids are home on vacation, and I have a home workday scheduled. My son tends to win out and I do the work after he goes to bed, or before he gets up.

6. Did lessons gained from being president of Delta Tau Delta fraternity at Brown contribute to your entrepreneurial/consulting success?

I was president of Delta Tau during its transition back to campus. We were the first fraternity to regain Brown campus housing after being removed by the University. I applied some of the lessons learned to my consulting work:
• Observing culture change via shifts in values, beliefs, and behaviors.
• Tying culture to performance. I was very interested in seeing whether or not
better off-field behavior would improve the football team’s performance, as many athletes were in the fraternity. It did.
• Determining what interpersonal, organizational, and environmental factors can influence people to achieve great things.

7. What are the top five qualities you would ascribe to an entrepreneur?

Most great entrepreneurs I’ve known or read about:
• See relationships others miss.
• Are creative.
• Demonstrate spatial thinking.
• Are driven.
• Are great at problem solving.
• Rally others around their vision.

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© BrownHEN.org – 2007

Interview with Ralph Rosenberg, Managing Partner of R6 Capital Management L.P.

 

BrownHEN interviewed Ralph Rosenberg, Brown ’86 and Managing Partner of R6 Capital Management L.P., New York, NY.

1. Ralph, have just gone from a highly respected large enterprise to your own entrepreneurial venture. What advice do you have for others who are thinking about making the transition?

When making a decision like this, be sure you are prepared to deal with all of the small details that go into starting a business. Also be sure you are prepared to be emotionally invested 24/7. The successes lead to the most satisfying emotional highs and the disappointments lead to emotional lows.

2. Goldman Sachs employs many Brown graduates and a writer from FAST COMPANY magazine once commented on the large number of entrepreneurs he knew from Brown. How can a Brown graduate best leverage her/his undergraduate experience?

Learn how to think critically—do great analysis and then step back and view the big picture. Also learn great presentation skills—both public speaking and written.

3. You have done a great deal for Brown. What motivates you to make such a major commitment?

I think we all have an obligation to support the institution so that future generations get the benefit of an even better experience than the one we had. Also we all benefit from the “aura” of the Brown reputation. Let’s do what we can to preserve it.

4. One reads much about ethical issues in the financial industry, as well as other industries. How do you deal with situations where someone—whom you want to continue to work with—asks you to do something you do not believe in?

No matter what field you pursue, integrity and honesty has to be the core philosophy. In the example you are giving me, I would say “I’m not comfortable doing what you are asking me to do, sorry.”

5. You must have looked at many proposals in your life. What advice do you have for an entrepreneur preparing a proposal or business plan?

Lead with your differentiating strategy. Keep it brief, yet substantive.

6. What are the top five qualities you would ascribe to an entrepreneur?

• Can deal with rejection/disappointment
• Good “big picture perspective”
• Even-tempered disposition
• Good sense of humor, and
• Ability to lead and motivate people.

7. Any thoughts of going into business with your brother, Harry?

I’m a big believer in keeping family and business separate. In fact I’ve already told my kids that they can’t work with me. I’ve seen too many tragic situations where business has divided families.

8. What is the latest insight (about life, work, play) that you picked up and would like to share with BrownHEN? If not, do you have a motto that you would like to share with BrownHEN?

Keep your job in perspective. It’s not life and death.

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© BrownHEN.org – 2007

Interview with Bob Stearns, Co-Founder and Managing Director of Sternhill Partners

BrownHEN interviewed Bob Stearns, Brown '71, Co-Founder and Managing Director of Sternhill Partners, Houston, TX

1. Bob, you must have read many proposals in your life, what advice do you have for entrepreneurs writing a document asking for money?

Entrepreneurs need to know that venture capitalists are interested in reviewing proposals that are expressed succinctly, without spurious details. We are not interested in lengthy documents with five-year projections that are speculative. We usually focus on three things: the quality of the individuals who are starting the venture, the nature of the products or services, and the market opportunity.

2. What were you doing at Compaq and how did you end up at Sternhill Partners?

I was CSO, CTO and Senior VP at Compaq. Part of my responsibilities as Senior VP included running a VC fund for Compaq, where I really enjoyed working with young companies. Compaq reached a point where its direction diverged from mine, so I left. I co-founded Sternhill Partners with Marc Geller in 1999. Sternhill was a VC startup; it faced all the issues related to starting a business: raising money for a limited partnership, establishing our geography and niche.

What was your biggest challenge?

Our biggest challenge was raising money from high net worth individuals and institutions. That said, we were able to raise our initial funding quickly.

3. What advice do you have for a person leaving a large corporation for a venture of her/his own?

Entrepreneurs who are striking out on their own need to be pragmatic and optimistic, and have high energy. They need to correct their mistakes rapidly and move on. They also need to surround themselves with people who possess relevant skills and seek help from their advisors.

4. Why was your venture fund at Compaq so successful?

Partially, it was the right timing. In the mid-1990s, venture capitalists generated tremendous returns in general. Second, Compaq invested in companies with products that could be incorporated and sold through its distribution system. There were a lot of opportunities for Compaq to benefit from these investments. The venture fund enriched Compaq’s shareholders. The best of the best technologists would come to Compaq. We were very successful; the fund’s return was 20 times the investments.

5. Your formal education was science-based. Did you feel you had a lot of catching up to do when you went into management?

I studied chemistry and physics at Brown. I felt the need to supplement my education with business skills so I went to graduate school at MIT and took additional courses at the Sloan School.

6. Do you think entrepreneurial opportunities still exist in the computer industry? Has the industry reached maturity so large organizations have an insurmountable advantage?

Absolutely! The industry has reached maturity some areas, but not in others. Entry levels to IN semiconductors, computer hardware manufacturing, and storage hardware are difficult. IBM dominated in the 1960s, and then came the personal computers. Opportunities still exist, but less so in computer hardware.

7. What are the top five qualities you would ascribe to an entrepreneur?

• Has a passion for whatever and for getting things done.
• Possesses honesty with oneself and with others; accepts what one can and cannot do.
• Is bright.
• Possesses people skills with at all levels; is able to attracts money and customers.
• Does not fear failure.

8. What is the latest insight (about life, work, play) that you picked up and would like to share with BrownHEN?

Life is what happens to you while you are planning. Allow it to take you where you want to go rather than where you think you want to go to please somebody else. Enjoy every day and don’t take yourself too seriously; don’t chase after money or title. People succeed because they enjoy what they do.

9. How long did it take to understand the Texas accent?

Very quickly. I’ve been in Texas for 15 years and I love living here.

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Copyright 2007 – BrownHEN.org

Interview with Randy Komisar, Partner at Kleiner Perkins Caufield & Byers

BrownHEN interviewed Randy Komisar, Brown '76, Partner at Kleiner Perkins Caufield & Byers, Portola Valley, CA.

1. Randy, what is the biggest difference between being a partner in Kleiner Perkins Caufield & Byers and working at a startup? What do you miss most about having operational responsibilities?

The great thing about being a partner at Kleiner Perkins is that I am surrounded by a tremendous amount of talent—my fellow partners, the founders and CEOs of our many ventures, the impressive management teams with whom I am privileged to work, as well as the many experts who work with our firm and make us smarter.

What I miss is the single-minded dedication to one team’s mission; the daily camaraderie amongst entrepreneurial team members who work together in the trenches, and the success of the team’s vision and passion, which serve to tie the individuals together.

2. How did an Economics concentrator at Brown and a law graduate from Harvard gain the technological background you obviously have? What advice do you have for aspiring entrepreneurs about learning pertinent technology?

The Brown Curriculum allowed me to branch out and acquire a passable competency as a technologist. Brown’s freewheeling academic environment enabled me to take classes in computer science, biology, engineering, mathematics, and other technical and science-oriented courses that I would not have taken if I were merely focused on acquiring the highest GPA. I was able to broaden my knowledge base and education.

My advice for entrepreneurs would be to obtain a generalist background first. Many universities focus on a very narrow, restrictive curriculum. Brown is an exception; Brown focuses on and excels in undergraduate liberal arts education. At Brown, I discovered how to engage my curiosity and how to learn. The methods and processes I learned at Brown have served me well, including in my current role. Every day I go out and learn something completely new and I tap into expertise from various fields to augment my own understanding.

3. What advice do you have for entrepreneurs writing business plans to secure funding?

In a startup environment based upon taking an innovative leap of faith, all experience will be secondary and tertiary, deduced from markets and the experience of other companies. By definition, you do not have sufficient first-hand experience with the leap of faith to develop a foolproof operating plan. But you do need to put something together in order to aim the venture and to gather the money and talent you will need for the journey.

The notion of a business plan for a startup is necessary but not sufficient. The business plan needs to demonstrate to the investors and team that the founders understand the nature of the challenge they are undertaking. But the team will have to refine and of course correct along the way as assumptions based upon secondary information are tested against primary data from the marketplace.

4. When you are evaluating a particular investment what role does the social contribution, for example, to the environment or to economic justice, play?

It does play a large role, but interestingly, it is not necessarily altruistic, because our role is to create commercial value. We do ask the question, “How will this company provide significant value for others?” If you look at our firm and its investments, whether it’s Genentech, Sun, Netscape, Google or Amazon; all these companies created significant social value that lead to their creation of impressive financial value.

This significant value can be utilitarian: with Google one can find anything at anytime; with Amazon one can shop and buy anything at one’s convenience; with Netscape, one could browse something called the internet and explore an entirely new digital world. These companies did not just create social value; they revolutionized our society.

A few years ago, appreciating the threat of pandemics in a global society, we raised a fund and brought in experts to focus on investing in innovations that promise to detect, treat and prevent pandemics. Aligning our economic interests with a huge public threat is good business.

We currently have a strong investment thesis related to the environment; half of our investments focus on companies that are in the green tech—clean teach area. Al Gore just joined us as a partner to help accelerate our global efforts in this regard. Addressing a big problem, like global warming, by definition provides the prospects of creating great value for all the various constituencies.

5. Can New England, Providence in particular, hope to become an entrepreneurial center similar to Silicon Valley? What is needed?

To create an entrepreneurial center like Silicon Valley, Rhode Island needs to develop a cluster of people with relevant domain know how and a culture that reinforces entrepreneurship. Boston already has a robust entrepreneurial center.

I’ve spent time in Japan, India, Taiwan, Chile, and other entrepreneurial hot spots around the world. The question is always asked, “Why is one location more successful than another?”

What I have noted to be particularly unique about Silicon Valley is the following combination of factors: a highly educated group of entrepreneurs and scientists, a great university, and a robust business infrastructure that supports startup ventures, including attractive working and living environments, a lot of available risk capital, and access to quality legal, consulting and financial services.

But Silicon Valley is more than just a combination of its parts. Its entrepreneurial culture has taken more than 80 years to develop. Silicon Valley attracts certain personalities, which are reinforced over time. What people don’t quite grasp is that the culture is very dynamic and it is reflected at every level. People who decided to come and stay invest themselves in the local entrepreneurial culture.

The secret ingredient is how a place like Silicon Valley deals with, “failure.”
Silicon Valley doesn’t punish or brand those who fail. If you have acquired experience and you are passionate about your mission, you are given other opportunities. Silicon Valley recycles and reinvests in the entrepreneurial spirit, something that most other business cultures do not do. Successful people also reinvest in innovation; they want to be a part of the next big thing; they want to help mentor, guide and support aspiring entrepreneurs. This reinvestment is probably the most significant reason Silicon Valley is so prolific in terms of innovations.

6. How can subjects like leadership and entrepreneurship, which seem to be based on personal attributes, be taught?

I have been teaching entrepreneurship at Stanford for seven years now. Great leaders and entrepreneurs are determined by an individual’s experience and, more important, character. What a teacher or mentor can do is reinforce aspects that are aligned with leadership qualities and provide insights and tools to leaders-in training.

In business, leaders are too often judged by the immediate results posted by their companies. Over a short term, a lot of people appear to be good leaders. Great leaders should be evaluated over a longer period of time on their sustainable successes.

7. What are the top qualities you would ascribe to a leader, an entrepreneur?

• Integrity
• Intellectual honesty
• Empathy
• Good self-knowledge — who you are and what you care about
• Passion and complete absorption in one’s mission
• Perseverance

8. Would you speak about fear as a motivation or hindrance toward accomplishment? How has that played a factor in your path, if any?

I believe fear is a negative emotion and do not find it useful. A lot of people think that if you are paranoid, it keeps you vigilant. But I do not find it beneficial to indulge in fear or to act out of fear.

9. As you know, the entrepreneur’s path is filled with trials and errors, and also failures. What’s a valuable insight for entrepreneurs to keep in mind when they’re experiencing setbacks?

Failure is not personal if you acted with integrity and have given it your best shot. In Silicon Valley, the only real failures are the people who have fallen short because they were lazy, stupid or corrupt. The inability to achieve results does not make you a failure; it can ultimately lead to positive experience that can result in success.

Most leaders with great successes have had moments of personal doubt, and have endured failures along the way.

10. Do you have a mentor who has helped you in career path / personal development?

I have many mentors. The most significant one is Bill Campbell. I worked with Bill at Claris and Go Corporation in the ‘80s and early ‘90s. We met at Apple more than 20 years ago. He is a terrific mentor. I also learn from my colleagues and associates as well as the many young entrepreneurs I work with.

Most important is that a mentor invests in your success, reinforces your abilities to succeed, extends himself/herself to you, and helps provide what you need for your own personal success, however you define that. While a teacher gives you tools to achieve an existing definition of success, a mentor helps make you a better you.

11. What motivated you to write the very well respected, “The Monk and the Riddle?”

The book started as a rant. It expressed the disgust that I felt during the middle of the dot.com boom. I feared that entrepreneurship was losing its meaning and purpose. It was being co-opted by the carpet baggers and the get-rich-quick crowd who were no longer pursuing entrepreneurship with passion and purpose, heart and soul. The book came out just in time, a month before the crash. To some extent it is gratifying that it is still so well received and used at numerous universities around the world, but its continual success reflects the fact that the base excesses of the boom are never far away.

12. Since the book was written, sometimes it seems like people are being less kind to one another than they had been. What hope do you have for the world?

That is a big question. The human condition is one where we are challenged and tempted by ego, greed, self-interest; many celebrated role models for success are aggressive, brutal and uncaring. It is hard for most people to rise above that and discover that it is the love and support for others that ultimately determine one’s level of satisfaction and fulfillment. Until we rise to that level of kindness, hope will be in short supply. But I am at heart an optimist and believe that people truly want to be kind, so I will hope for that.

13. What is the latest insight (about life, work, play) that you picked up and would like to share with BrownHEN?

To live a satisfying and purposeful life, you have to make a contribution. I find it very useful to live a life of integrity in a literal sense—to be integral—to incorporate my principles and values in my livelihood, to express my values in my daily life genuinely and authentically, and to engage empathetically with the host of wonderful people with whom I am privileged to cross paths every day.

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© BrownHEN.org – 2007

Interview with Adam Carson, Director of Finance, Intuit

BrownHEN interviewed Adam Carson, Brown '96, Director of Finance, Intuit Inc., Mountain View, CA.

1. Adam, you worked at GE and now have an important position, Finance Director, at Intuit. These companies have quite different histories. Do you find their cultures very different?

I actually find the cultures very similar because both Intuit and General Electric expect a great deal from their leaders, are open to ideas from all levels of the organization, and heavily emphasize developing people. Of course there are divergent styles within each organization due to the differences in company size, markets, and types of products (knowledge versus manufacturing/financing.)

Intuit is fortunate because our founder, Scott Cook, remains as a very active leader of our business. Scott is the personification of Intuit’s values—just as every founder is the driving cultural force in their business. When someone pours their soul into an organization it is inevitable that there is tight alignment between their personal values and the culture they create for that organization.

2. How can a person be entrepreneurial within a large corporation?

I’m going to reframe that question into “How can you better control your destiny within a large organization?” because the word entrepreneurial can be interpreted several different ways.

Decide to care about the well being of the entire organization.

Own the concept that it is your organization (although it happens to be a large one where you don’t call all-the-shots-all-the-time.) Build your skills and think how to grow the entire organization—even though you might only work in a small corner.  Solve problems and communicate in ways to make the entire organization stronger. 

The one decision you can make entirely by yourself is your mindset. When you decide to have the mindset of an owner and consistently behave that way, it will be noticed. When others do notice, share your vision and ask for their help. Large organizations require more than one person to make a change.

3. When you were at Brown, you were interested in team building and experiential learning. Are these aspects of management important to a Finance Director?

These aspects of management are critical for all leaders because we need to work with others to accomplish any difficult task or create lasting change. The process of creating an organization where people show up to give the best of themselves and work to help others grow is difficult. Many things can hurt this delicate process. Leaders can use team building tools and experiential learning to establish a common set of values and behaviors to help people consistently work together towards a goal.

4. What do you enjoy the most about your job?

My number one joy is when people invent new solutions or find better ways to accomplish a goal AND then share the discovery with others.

That behavior means the organization is firing on all cylinders:
• People are so engaged in their jobs that they experiment with changes
• The culture encourages new ideas, embraces risk and does not fear change
• People want the entire team to win and they share broadly

5. What do you feel you gained from business school?

My approach is to constantly learn and expand my awareness in areas where I know very little. Learning directly correlates to an increased number of options I have when I need to react to a situation. Increased options can produce more appropriate responses to ambiguity.

Business school was an opportunity for me to acquire a great number of tools in a very short time. Oh, did I mention the debt?

6. Are you involved in social service work outside of Intuit? Why?

Absolutely, giving to my communities is an important aspect of leadership because it demonstrates my caring for others and helps to foster trust and credibility. My activities are creative, social, and educational (improv comedy, alumni involvement, and teach leadership at Santa Clara University.)

7. How, specifically, can small business owners benefit from using Intuit's products? Are you concerned that they do not understand how they would benefit?

I am glad you asked! We are incredibly customer focused and work to help small businesses get the most from our offerings as possible with support, training opportunities, and a thriving network of accountants.

Intuit has many products and services that help solve problems for all types of businesses – from basic cash flow management via our free SimpleStart software to complex system integration for Mid-Market firms via our Solution Provider Network.

Our QuickBooks product line is known for both ease-of-use in managing financial tasks and an interface that enables owners to see their firm’s big picture at a glance. Ease helps firms save time and money. In addition to our products, Intuit hosts several communities designed to help small businesses. Our jumpup website (www.jumpup.com) is designed for entrepreneurs thinking about starting a business.

8. Do you use Intuit products in your personal life?

Absolutely! Quicken is a near daily ritual.

9. Would you speak about fear as a motivation or hindrance toward accomplishment? How has that played a factor in your path, if any?

Fear is not a motivator for me and I do not use it to motivate others. The emotions and behaviors fear creates are exceptionally strong and come with very steep costs to individuals and organizations.

Like many leaders, my best moments are now possible because I encountered difficult times and, as a result of those challenges, decided to grow and change.

10. Do you have a mentor who has helped you in your career path/personal development? Who are three individuals (dead or alive) who have influenced you?

I have several mentors that I go to for advice on difficult issues. In addition, I am constantly trying to observe leadership behaviors I can apply in my life.

Three people who have influenced me are:
• Dean Hazeltine – Constantly learn & teach; treat everyone with dignity; live by the highest ethical standard
• Rebecca Stockley (improv coach) – We are each unique; embrace failure because it means you are taking risks; work hard to make your partners look great
• Paulo Coelho (author) – Be a warrior of light; make mistakes; rise to challenges; both know and act on what is best for yourself

11. What is the latest insight (about life, work, play) that you picked up and would like to share with BrownHEN?

Suzanne and I just celebrated the one month birthday of our twin girls. So lately my thinking is about this new journey.

A mentor of mine shared a quote recently that I have been pondering, “Build a strong and tough support system and give far more to it than you receive.”

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© BrownHEN.org – 2008

 

Interview with Jorge Casimiro, Executive Assistant to the President - Latin America Group, The Coca-Cola Company

BrownHEN interviewed Jorge Casimiro, Brown '98, Executive Assistant to the President - Latin America Group, The Coca-Cola Company, Mexico City, Mexico.

1. Jorge, you have a senior position at Coca-Cola. Do you feel you have much opportunity to be entrepreneurial?

Absolutely! There are always opportunities to be entrepreneurial.  Being entrepreneurial is a mindset, a way of being and a way of acting, regardless of the size of the enterprise or the position you occupy. The moment you allow yourself to think a certain situation won’t allow you to be entrepreneurial is the moment you start limiting yourself.

2. Your responsibilities include the entire Latin American region. What are the pitfalls a citizen of the United States faces in working internationally?

My parents were born in Cuba, so I had a pretty international upbringing that has helped me tremendously; and my time at Brown only added to that. In general terms, I wouldn’t say that there are any pitfalls for U.S. citizens working in Latin America. The pitfalls exist when one–regardless of nationality–is unwilling to understand different cultures and different mindsets, thus limiting oneself from working within those contexts to meet goals and objectives. 

3. How do you learn the cultural nuances in the various countries Coca-Cola works?

Obviously language is a big plus. However, the most important thing to do is to listen and engage—whether it’s the taxi driver taking you from the airport to the hotel or the country operations manager walking you through the latest business plan. Keep an open mind, be respectful and ask questions. Allow that natural curiosity we all have to come out, without worrying about what people will think.  This understanding, aside from enriching you personally, will provide you with keen business insights into that market.

4. The U.S. market seems to be moving away from carbonated drinks. Is the same true in Latin America? How do you forecast trends in people's taste?

Sparkling beverages continue to grow and represent a tremendous opportunity for The Coca-Cola Company worldwide. On top of that, the entire nonalcoholic ready-to-drink market is also growing. In fact, The Coca-Cola Company’s worldwide volume grew 6% in each of the first three quarters of 2007, and Latin America volume grew 7%, 9% and 9%, respectively, in those same three quarters.

Forecasting consumer preferences, tastes and trends is at the heart of our commitment to offer consumers the beverages they want, when they want it and how they want it, all in a responsible way. Obviously, a lot of research is involved, but we don’t limit ourselves to just research. We also take time to listen and establish a relationship with consumers; it’s this relationship that has helped us become the world’s largest beverage company that today is #1 in sparkling beverages (with four of the world's top five nonalcoholic sparkling brands, including Diet Coke/Coke Light, Fanta and Sprite), #1 in juice and juice drinks, #1 in coffees, #1 in teas, #2 in sports drinks, and #3 in bottled water.

5. You were a highly respected leader on the Brown campus. Do you feel that experience is valuable to you now?

Highly respected? Wow, thanks! I think the lessons I learned as a campus leader had to do with listening to many different opinions and taking action. And by listening, I don’t mean waiting for people to come talk to me; I mean identifying who you need to talk to and really engaging them. The other part, action, is also critical. You can’t be afraid to make decisions (just make sure they’re smart ones), and you really can’t be afraid to check yourself on past decisions and adjust as necessary. 

6. You seem to be relatively young for the responsibilities you hold. Do you feel your youth is a problem in dealing with other managers?

I’ve been lucky in that The Coca-Cola Company has a firm commitment to developing its employees to their full potential and to removing barriers that get in the way. My current assignment is my fourth since I joined the company in 2001 and my second as part of the Latin America Group. At every step, I’ve had tremendous support, have worked my brains out and have learned a great deal— earning some grey hairs along the way.

7. Is most of the company business conducted in English? Do you recommend that Brown students learn a language in college?

In Latin America, most business is conducted in Spanish, Portuguese (Brazil) and English in that order. However, everyone has a working level of English in order to interact with our headquarters in Atlanta and with colleagues around the world.

I would definitely recommend learning a second (or even third) language in college, but I would also add that it’s not about learning the language per se.  Learning another language opens your mind to another way of thinking, another culture and other experiences. Even though you may not master the language itself, the process will enrich you both personally and professionally. 

8.  What are your tips for coping with air travel?

Try not to work on the flight unless you really have to—read a book or watch a movie. Make sure to get a good night’s sleep the night before and during the trip. Drink vitaminwater and, if vitaminwater is not available, make sure to take your vitamins and keep hydrated with plenty of water. Honestly, exercise is very helpful (the few times I’ve actually exercised on travel). 

Also, make sure not to spend all your time in an office or hotel room. Even if it’s just 30 minutes, go out and explore a bit.

9. What are the top five qualities you would ascribe to an entrepreneur?
• Creativity and an open mind
• Discipline and focus
• Fun
• Responsible
• Not afraid to get your hands dirty

I find many people have some of these qualities.  However, when you find someone that has all of them at once, hire him or her!

10. Would you speak about fear as a motivation or hindrance toward accomplishment? How has that played a factor in your path, if any?

Hindrance. No question. However, I’d be lying if I said it’s never played a factor in my life because we’re all human. I think the key is recognizing fear when it rears its ugly head and then making sure not to make decisions or act based solely on fear.

11. As you know, the entrepreneur’s path is filled with trials and errors, and also failures. What’s a valuable insight for entrepreneurs to keep in mind when they’re experiencing setbacks?

There’s always more than one way.  We all tend to get stuck in certain patterns of thought and action; but when you’re experiencing a setback, I think it’s important to step back, look at the situation from different angles and consider different alternatives and solutions.

12. What is the latest insight (about life, work, play) that you picked up and would like to share with BrownHEN?

I’ve been married for almost two years now and it’s amazing how much my life has changed (for the better). I guess the insight is that, just like marketplace dynamics are always changing and shifting, your life and your priorities are always evolving. In the same way that business should be nimble and responsive to these market forces, so should you. 

Your priorities when you begin your career as a 20-something are different from when you start a family or from when your metabolism starts slowing down or from when you begin thinking about retirement I think most of us tend to get stuck trying to make these transitions from one phase of life to another.

From a business perspective, the need to identify these personal and professional changes is critical because if your priorities aren’t matching your actions (or vice versa), you’re not contributing your full potential.

13. Who are the three individuals who have influenced your development significantly?

My family, definitely. As immigrants who arrived to the US with literally nothing, they instilled in me a strong work ethic, a responsibility to family and community and a sense of self. And they haven’t just influenced (past tense) my development, they continue to do so everyday. 

My wife, Elizabeth, is another. I’ve found that having a partner who offers unconditional support (and puts up with all the other “stuff”) makes all the difference in the world both inside and outside the workplace.

Collectively, I’d also say the Coca-Cola system. Whether it’s the support and advice of my friends and colleagues, the unique perspective of stewarding the world’s favorite brands in more than 200 countries, or the incredible satisfaction of working for an enterprise that is truly committed to the communities it serves, Coca-Cola has definitely influenced who I am as a professional and as a person.

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© BrownHEN.org – 2008

Interview with Danny Warshay, Managing Director at Dew Ventures, LLC

BrownHEN interviewed Danny Warshay, Brown '87, Managing Director at Dew Ventures, LLC, Providence, RI.

1. Danny, when you were an undergraduate, you co-founded a software company that became part of Apple. Looking back on that experience, what do you believe undergraduate entrepreneurs need to know most?

I’m often asked about that experience and about whether it makes sense to start something as an undergrad or soon after or get some “experience” first. My answer is that it depends mostly on whether you have an idea that is a legitimate opportunity. If you do or think you do, in many ways, there’s no better time to pursue it than when you are young–free from other responsibilities like a family, a mortgage or something else that make you much more conservative later in life.

When we started Clearview, I had nothing to lose, and could afford to live on no salary and eat a lot of macaroni and cheese. My wife and kids these days would get sick of macaroni real fast. The other benefit to pursuing something early is that in some ways, knowing too much can be a hindrance.

When I was graduating from Harvard Business School, I began to realize that I had learned a ton of ways to find fault with businesses and ideas, and had been trained over those prior two years to be critical of the thousands of cases we had studied. One of the voices that I paid the most attention to at that time was that of my entrepreneurship professor, Jeff Timmons, who reminded us to ask, “What can go right.”

When we were starting Clearview, I had virtually no business experience and could barely turn on a Macintosh. A couple years later, I think partly because of our naiveté, we had developed a successful Macintosh applications business whose acquisition by Apple I was helping to negotiate. I hesitate to say this too strongly, especially because I am teaching entrepreneurship at Brown these days, but I sometimes do wonder whether knowing or at least thinking too much can cloud your judgment.

The bottom line about whether to start something when you’re young, though, is that the decision is not like a typical career decision and question, "Should I take a job at McKinsey or start a software company?" The alternatives, a normal job or doing a startup, are much different. If you have a passion for creating a business and a compelling idea for a product, go for it. If you don’t have both the passion and the idea, then the decision is made for you until you do.

2. Please tell us more about your website RoundOne.com and what it intends to accomplish. Will it meet some of the needs you described in Question 1?

RoundOne is a platform that empowers aspiring entrepreneurs to take a few key first steps. Its content (now well over 3000 blog articles by entrepreneurial experts and supportive RoundOne community members) covers a wide range of critical topics, in easy-to-read, practical bite-sized pieces. To avoid the information overload and analysis paralysis I referred to in the previous question, the pieces are not a dissertation on the subtle distinctions between an LLC and an S-Corp, but the practical “dummies” version.

The networking platform enables you to meet fellow aspiring entrepreneurs from all over the world. We have members from dozens of countries–even places I had never heard of—and I cannot imagine how they would have connected with each other without an online platform like this. Finally, we have a suite of collaborative project management tools that enable a newly formed team to take a few substantive steps together (e.g., develop a business plan, upload and store documents, schedule team meetings and even conduct them online). We conceived all of this functionality with a focus on aspiring entrepreneurs, people who for the first time are looking to start a business but have never done so before. According to Capital One and Consumer Action, over 54% of Americans are interested in starting their own business but “don't know where to begin.” Our mission is to help them do so.

3. Most of your professional life you have been associated, successfully, with startups. However, you did spend a few years at Procter and Gamble. Were they valuable years for your present career? Do you recommend aspiring entrepreneurs work at a large company for a time?

I learned a lot in a short time at P&G. As my wife, Deb, smartly reminds me from time to time, the most important thing I learned was that a place like P&G is not for me. And that is a valuable life lesson—to figure out what is for you by experiencing what is not. Even beyond that, I learned a lot about how to build and run consumer businesses on very large scales, and about how to sweat the details. In subtle ways, I find those lessons expressing themselves in my entrepreneurial work more often than I might have expected. So for me, P&G was valuable, and while I would not want to prescribe any one type of experience for everyone, I do think that in general, especially if you go into the experience being clear about what you want out of it, that employment at a big company can teach you a lot.

4. You were a leader in creating the magnificent new Hillel Center at Brown. What are your aspirations for that building?

That it inspires the next generations of Jewish community leaders.

5. You have taught entrepreneurship in Israel. How did the students there differ from Brown students?

In ways that surprised me. Since they were Executive MBA students, I expected them to catch on to the HBS case method quickly, and to my surprise that approach threw many of them at first. I am still not exactly sure why, but I think one reason is cultural. At the risk of generalizing too much, my Israeli students tended to be very professionally focused and tended to think black and white. Many of them initially wanted to dispense with the ambiguous process of a case discussion and cut to the chase. “Just tell us the answers” was literally what many of them said to me in the first couple of classes. I resisted and by the end of even the condensed course, most had caught on and appreciated the “no right answer” approach.

That experience made me even prouder of my Brown students who tend generally to catch on to the case approach quite well. I think one significant reason is that Brown students are used to dealing with ambiguity in a liberal arts environment. I also saw some of what I discussed in question one above (thinking about what could go wrong) although in some ways the Israelis were able to apply their years of professional experience to the cases. For many, that experience inhibited their creativity, while the inexperience of my Brown students sometimes enables them to think more freely.

6. You are well known for the effort you put into teaching at Brown. What makes teaching rewarding for you?

First of all, I owe all of this experience to Barrett who knew me better than I knew myself, and detected a latent passion for teaching. Simply put, I love everything about it. I love motivating and inspiring my students to work their tails off and grapple with challenging problems. I love using the Socratic method, which feels a little like tight rope walking without a net. Although I have a general sense for the issues I want to cover, I never know exactly how the discussion is going to flow, what issues students are going to find worthy of interest.

In their course evaluations, some of my students have referred to me more as a coach than a professor and I can see that. I work hard on their behalf to make sure their experience in the classroom is worthy of Brown, and I advocate for them far beyond the classroom (e.g., finding them internships while they are still students, finding them jobs when they graduate, helping them with startup ideas, writing them recommendations). My core, advanced COE course, “The Entrepreneurial Process: Innovation in Practice,” is demanding, rigorous, and challenging. And those students see how much effort I put into it on their behalf and they respond accordingly. By the end of the semester, we have been through a lot together, and we all feel a sense of accomplishment. Finally, I am sure I learn from the students as much as they learn from me. It’s an honor to be able to teach them.

7. What are the top five qualities you would ascribe to an entrepreneur?

Mostly I think of qualities relating to execution more than breakthrough thinking:
• Ability to prioritize
• Ability to get things done
• Persistence: not accepting setbacks or failures, and
• The classic quality from Howard Stevenson who is an entrepreneurship guru at Harvard Business School: ability to pursue an opportunity without regard to the resources one currently controls.

8. As you know, the entrepreneur’s path is filled with trials and errors, and also failures. What’s a valuable insight for entrepreneurs to keep in mind when they’re experiencing setbacks?

I guess I’ve adopted more of a Zen-like approach to success and failure, as I have gotten older. Sometimes, what at the time I thought was a supreme success later paled compared to other more important things and even seemed like a detriment. And in contrast, what at one time seemed like a horrible failure later seemed like nothing or even a valuable experience. Perhaps it’s all the yoga I’ve been doing, but I try to have a more balanced opinion of what may seem like success or failure.

9. What is the latest insight (about life, work, play) that you picked up and would like to share with BrownHEN? If not, do you have a motto that you would like to share with BrownHEN?

I think we can all learn a lot from Curly, Jack Palance’s character in City Slickers. He says that the most important thing in life is for each of us to find our "one thing"—our passion. For some that’s their family, for some that’s intellectual achievement, and for some that’s about inventing new things. I guess like Curly, what I’ve found over the course of my career is that everything else falls much more easily into place once I have figured it out and can focus on that “one thing.”

10. How did the name "Danny" come to be?

Short for Daniel.  I’m definitely not a Daniel or a Dan – just Danny.

Note: Danny is currently in Cairo, teaching a condensed version of his Brown entrepreneurship course to a group of Egyptian executives, heads of NGOs and entrepreneurs.

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© BrownHEN.org – 2008

 

Interview with Katherine Cohen, CEO & Founder of IvyWise and ApplyWise

BrownHen interviewed Katherine Cohen, ‘Brown ‘89 – CEO & Founder of IvyWise and ApplyWise, New York, NY.

1. Katherine, how did you get into writing books? Was that part of your plan from the beginning?

No, it was not. I entered the profession of college admissions and I wanted to organize my thoughts for myself and high school students. So I created a manual, which ended up as my first book, The Truth About Getting In.

2. Did you have to raise funds to start IvyWise? If so, please describe your strategy?

No, I started out in my apartment, with $5K saved. My business had the barebone basics. I am still the sole owner of IvyWise. In late 2007, Liz Hamburg (Brown ’86) and I launched a sister company, ApplyWise.com, an online college counseling and management tool, which is affordable and accessible to more families globally. We did bring outside investors into ApplyWise

3. What percentage of your time can you now spend advising individual high school students?  Would you like to spend more?

In the last year and a half, due to family priorities, I have only spent half of my time on advising individuals. I have hired other counselors to work with the growing market of students coming to IvyWise and have been spending more of my time with the launch of ApplyWise.

4. Please compare working with high school juniors and seniors to working with college sophomores.  How do you adjust your advising strategies?

When I was working with college sophomores at Yale, I was counseling students on course selection, personal and academic problems, and wrote recommendations for students seeking summer employment or social service experiences. 

IvyWise now works with students of all ages and stages.  However our core business is counseling high school students and students as young as eighth graders for the college admissions process. We help them make an impact in their classrooms, campus and community.  We help them focus on the soft factors: we help them develop mature responses to setbacks, work better with their teachers, and find joy in what they are learning in school.  If students are making the most of their high school experience, this makes them become better college applicants. We help them tap into their potential and empower them with skills to contribute to their school / community.

5. You have contributed strongly to the Entrepreneurship Program at Brown. What do you think can be done further to support Brown undergraduate entrepreneurs?

Brown EP is doing a great job; it is nice to see its growth. The Board members are exploring more ways to get involved and to get more mentorship.

6. What is your vision of the future of IvyWise? How can it be structured to reflect your ideals as it grows?

Our mission focuses on empowering students to achieve their academic and personal goals; we are adhering to this everyday.

We envision growing it slowly and steadily to maintain quality control. We do not want to dilute our services. I have hired and trained only a handful of new counselors, all who have great experience in admissions. Our approach reflects my vision, which is that while each student works one on one with an individual counselor (and each counselor is limited to 20 students); behind the scenes IvyWise counselors work together collaboratively as a team.  This way, each student gets the entire team’s expertise and feedback and several sets of eyes on each essay and application. We interact like a real admissions committee, which sets us apart from most independent counseling services.  I am very excited about the growth opportunities for ApplyWise, which can reach a broader group of families around the world.

7. What are the top qualities you would ascribe to an entrepreneur?

• Know what you know and what you don’t know.
• Do not do it all; delegate.
• Be a great leader.
• Be a great listener.
• Recognize that you are not always right; listen to clients/customers and colleagues.
• Be flexible; business changes and grows according to customer needs.
• Be a multi-tasker who can wear different hats.

8. Would you speak about fear as a motivation or hindrance toward accomplishment? How has that played a factor in your path, if any?

Fear is a underlining motivator: not being successful, not making enough money, not leaving a legacy behind. Fear may play a part in many of the things that I do, but it is certainly not the driving factor.

I also don’t think fear is necessarily all bad, but I try not to let fear overcome me. If there is one bad article written about my company, if I lost a big sale, it’s time for me to step back and look at the big picture, regroup, and find the best path forward.

10. What is the latest insight / book(s) (about life, work, play) that you picked up and would like to share with BrownHEN?

I believe you need to have passion for what you are doing; you must absolutely LOVE what you do everyday. I am lucky because I love my work.  I had a baby about a year ago and it has been a challenge finding the balance between work and family.  It is easy for entrepreneurs to be workaholics. Work should not be about money because in one hundred years, no one is going to know about your business or care how much you had made; this gives me perspective. I have been practicing yoga since high school; it is a constant in my life and it teaches me to focus on the present. I make time for myself, and time for reflection (in fact, that is where my greatest business ideas come from!), which is crucial to my wellbeing and growth.

11. Who are the top three individuals / sources that have influenced your development?

One is my uncle, a corporate lawyer and my life mentor. He helped me set up my business, go through work-related trials and tribulations, taught me the art of negotiation and has helped me see many business situations from different perspectives. 

Second is my husband, who is my best friend and perfect mate. He is very grounded; he is a calming force who thinks before he acts. He helps me in my relationship with work, reminds me what is important in life, and brings me a lot of joy.

Third is my daughter, who teaches me that I can’t control things all the time.  She showed me the infinite capacity for love.  Now a new motivation for my work is to provide her with a good life.

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© BrownHEN.org – 2008