If you're an aspiring entrepreneur who hasn't yet made the leap, Silicon Valley venture capitalist John Doerr has some advice.
"There will come a time, when you'll decide… 'I want to swing for the stands. I want to found a company," Doerr, a general partner at Kleiner Perkins Caufield & Byers, said in a recent talk at Stanford's business school. But, there's no need to rush things. "There's always going to be a demand for outstanding leadership."
So before you take that monumental first step, there are three important things you should recognize first, according to Doerr. They are:
- Ideas are easy.
- Execution is everything.
- And it takes a team to win.
That isn't to diminish the value of the idea behind your business. Coming up with a great idea isn't simple. But it is relatively simple in comparison to the incredibly complicated phase of bringing that idea to life.
"It's execution that's everything. The difference between Sun Microsystems and Apollo was how they executed," he said. "The difference between Facebook and MySpace was how they executed. And it takes a team to execute well."
That last part is especially key. "Anything that you want to do of consequence, I believe you're going to do with others," Doerr said.
For more of Doerr's own career lessons, check out the video below: