https://berkonomics.com/?p=2894&utm_source=rss&utm_medium=rss&utm_campaign=which-is-more-important-management-quality-or-a-better-plan Dave Berkus' business insights Wed, 22 Mar 2017 18:36:59 +0000 hourly 1 https://wordpress.org/?v=6.9.4 https://berkonomics.com/?p=2894&cpage=1#comment-101444 Wed, 22 Mar 2017 18:36:59 +0000 https://berkonomics.com/?p=2894#comment-101444 My experience as an investor, and student of the venture development process, is that most successes resulted from a number of major, well sold, strategic pivots. These range from name changes to major shifts in business models. Airbnb is a good example. Look at the early slides at: https://techcrunch.com/gallery/a-brief-history-of-airbnb/. Look specifically at what at the pivots between the seed round and the Series A investment.
This captures many of my own investing, and start-up situations. Louis Knobbe, a founder of Knobbe Martens first shared this insight with me in the late ’80s. When I realized how key it had been to my own personal experiences as an intrepreneur, and then an entrepreneur, I made it a part of my own investment philosophy. It become a key expectation as I started my angel activity in the ’90s. Today, I could sight many personal examples of it. The airbnb situation, which I did not participate in, is just particularly well documented.

]]> https://berkonomics.com/?p=2894&cpage=1#comment-100921 Fri, 17 Mar 2017 16:31:40 +0000 https://berkonomics.com/?p=2894#comment-100921 I’ve always said a mediocre plan, well executed, beats a great plan that’s poorly executed. Nobody’s argued or proved me wrong yet!
Bill Carpenter

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