Risk exposure for us engineers should be lower because our major was 90x harder than studying business.<\/p>\n
By Larry Chiang<\/p>\n
Risk.<\/p>\n
As engineers, we don’t need to take risk like Econ majors. Have you ever played Risk, the Parker Brothers game?! The winner sits in Australia protecting one border and never ‘risks’ ANYTHING.<\/p>\n
They should rename that game, “Sit-and-wait-on-Australia-so-you-slowly-conquer-Asia”. 9 armies. 3 borders. Zero risk. True story.<\/p>\n
Risk elimination. Risk minimization. Risk mitigation.<\/p>\n
You see as engineers, we already have our Australia. We already have a guarantee. Are we going to listen to an Econ major VC out there telling us to ‘chance it all’?!<\/p>\n
I took 27 calculated risks to get ranked #1 in entrepreneurship education. The majority of those risks were damage-controlled, risk mitigated and risk minimized endeavors.<\/p>\n
Here is how I recommend engineering undergrad entrepreneurs take a HUGE CHUNK OF DANGER out when starting a business:<\/p>\n
Pattern recognition. Pattern replication. Pattern iteration.<\/p>\n
And Treasure Management.<\/p>\n
And charming a mentor to coach us.<\/p>\n
You should probably get busy googling:<\/p>\n
Pattern recognition. Pattern replication. Pattern iteration. Treasure Management. Charming a mentor<\/p>\n
In 2013, I’m teaching Ga Ga Guaranteed exits. Study ahead and Easter egg hunt the LarryChiang twitter feed from Sept 2011 to April 2012. The ga ga guaranteed exit ideas are labelled at https:\/\/twitter.com\/larrychiang<\/a><\/p>\n Find me but don’t fund me at… CEO of Duck9 Stanford University EIR (Entrepreneur in Residence)<\/p>\n Duck9 = Deep Underground Credit Knowledge 9 125 University Avenue\/ 100 Palo Alto CA 94301 https:\/\/www.duck9.com\/ass<\/a> 650-566-9600 650-566-9696 (direct) 650-283-8008 (cell)<\/p>\n **************** Editor of the BusinessWeek Channel “What They Don’t Teach at Business School” https:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog<\/a> CNN Video Channel: https:\/\/ireport.cnn.com\/people\/larrychiang<\/a><\/p>\n Read my last 10 tweets at https:\/\/www.Twitter.com\/LarryChiang<\/a><\/p>\n Author, NY Times Bestseller https:\/\/whattheydontteachyouatstanfordbusinessschool.com\/blog\/?s=Ny+times+bestseller<\/a><\/p>\n “What They Will NEVER Teach You at Stanford Business School” comes out 11-11-12<\/p>\n