It takes a village ….. to teach Entrepreneurship!

How often do you sit in a class and think to yourself – now THIS is what I came to business school for!!?? Well, last night it happened to me folks! And that too on a Monday!

I have posted often (and perhaps ad nauseam) about how excited I was to take an Entrepreneurship class this fall. Pity my poor husband who has to put up with all my chatter in real life (thank goodness he never reads my blog!).

I am talking, of course, about the Fall 2011 Monday night Entrepreneurship course! Usually professors sort of ease students into the course by first talking a little about the syllabus, the work load, the grading, etc, etc. Especially if it is the first day of classes after a long and sleepy summer break! Not so for Professors Zafar, Fuchs and Star!

Right at the start of class, we were told that all of us were in a conference room of a VC firm and an entrepreneur was just about to pitch us – talk about vertical takeoff!  In walked the entrepreneur and off he went with his pitch. Students and professors interrupted with questions and clarifications which he was able to answer with ease and confidence.

Done with the pitch and the good professors moved us to a back room at the same VC firm and asked us to figure out whether we would consider funding the company, what due diligence we would need, what questions we did not ask, whether we liked the “team”, etc, etc. It was absolutely riveting and it took us a little time to realize that at the end of the next 15 weeks, it would be us on the other side of the table, doing the pitch, fielding questions and getting a thumbs up or down! Whew!

And once the roller coaster started, there was no stopping it. The professors even managed to make the syllabus and the schedule of assignments and other logistical details seem exciting!

If the first class was so cool … I can only imagine what the next few weeks are going to be like… the good news is that I am now 17th on the wait list, the bad news is that only single digit wait listers get in generally. But this course with these professors is worth waiting a semester or even two semesters for.

Finally, to explain the title of this post – this awesome, awesome course is to be taught by 3 Haas Professors along with 6 mentors from various industries who are a mix of entrepreneurs and angel investors! What fabulous resources to have!

P.S. The number of exclamation points in this post are high and very rightly so!

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Dear Amazon, please help me declutter!

Some rapid-fire idea storming before I head out to Berkeley for the evening Entrepreneurship class (that I am still wait listed for!) As my Saturday morning Entrepreneurship professor said in class – hey, if you can take my ideas and out-execute me, just go for it!

  1. Sell used ebooks (auction style) – So what happens to all those ebooks that you finish reading (or start and know you will never finish)? For paper-and-ink books, you can donate them to a public library, take them to a used bookstore or even have a garage sale. Why can’t we sell ebooks after we are done reading them and simply don’t want them cluttering up our Kindles? And make them auctionable!
  2. Perhaps we also need the same for selling “used” digital music. Basically, need to figure out a way to make sure absolutely that the digital copy owned by the seller evaporate into thin air as it were (like how you would lose possession after selling a physical book or CD).
  3. iTunes for archived magazine or other paid content (99c only) – You know how you search for something and a particularly relevant article from Time magazine pops up so you click on the link? Which gives you a brief, tantalizing preview and then asks you to cough up $4.99 for the archived article? Well, what if someone took over all the archiving efforts for these mainstream media publications? And offered every single article for a flat (and low) fee just like iTunes does?
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A tale of two business books

This summer, being super excited about the Entrepreneurship class I was going to take in Fall, I read a whole bunch of books about how tech companies like Amazon, Google, Facebook got started and evolved.

Most of these companies have multiple books being written about them, some by ex employees, some by tech journalists. Most books written about the same company do offer generally different perspectives or may focus on different periods of time in the company’s evolution. I generally like to read all the books about a single company either simultaneously or at the very least back to back, one right after the other. Hey, its been a slow summer ;o)

When it came to Facebook, the two book options out there are – The FaceBook Effect and The Accidental Billionaires. And the fact that Hollywood had made a movie based on one and not the other should have told me something. Plus the fact that the tagline for Accidental Billionaires was (and I quote) – A Tale of Sex, Money, Genius and Betrayal.

Now, I quite liked The Social Network. Its a movie – Silicon Valley (and a little bit of Harvard too) Hollywood-ized. But oh the book its based on …. blech! Talk about a potboiler! Not for the first time have I seen a movie and then read the book its based on and wondered just how the adapting team literally pulled an entertaining rabbit out of their collective hat. For instance, have you ever tried to read the original book that the TV series Sex and the City was based on? Double blech!

In any case, what kind of book are people expecting when they pick up a book about how an amazing company got started? Are they really looking for the “dirt”, “personalities”, “gossip”? Or are they looking for how the idea got started, what strategic decisions were made and just how the company got to where it now is. Or perhaps that is just what MBA students read books for.

The Facebook Effect thankfully has plenty of the above and does not disappoint. For instance, Kirpatrick describes how Facebook was initially rolled out a single college at a time and only when the team was convinced that the infrastructure could handle the additional load (so as to not have the site ever, ever be down). And how the decision was made as to which University/college to expand to next…. and how Facebook became more popular than competing social networking sites being rolled out at the same time.

P.S. I know the media has been raving about the initial adoption rate of Google+, but comparing it to how Facebook spread is just comparing apples to oranges.

 

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Going, going, gone! Oh wait, there is still add-drop!

So Haas and other business schools have this exciting system of auctioning off enrollment in elective courses. You don’t have to do this in your first year (all core courses are mandatory).

The way it works (short version), is that each student starts with the same number of points (depending on which year of the program you are in). Then everyone “bids” points for the courses they want to take. The only constraint is that you cannot bid all your points for one class (and duh! you must bid at least 1 point).

(Update) And of course, its a blind auction – meaning that you cannot see what other people are bidding or what the current highest bid for a class is. Lots of opportunity to play some mind games … (I don’t think this happened at all with my Haas classmates, we are a pretty open and laid back bunch, though people didn’t openly disclose their bids to all and sundry) (End update)

At the end of the bidding, the top x bidders for a class get in (class capacity being x).

The fun part is the after-auction analysis when you figure out what the minimum successful bid for each class was. This is when you figure out just how popular the classes you want to take really are. For example I bid almost all my points to get into this one class and later found out that even people who had bid a single point got in…

But be not afeard! For the first couple of weeks after school starts are for add-drop. And all electives are (sort of) again up for grabs!

There is Corporate Finance and Designing Financial Models that Work (really!) and Mergers and Acquisitions and Strategy, Structure and Incentives. And you have had all summer to think about what you want (and in my case to confuse myself even further!)

So the first week of school (maybe more) promises to be exciting! I will be taking as many classes as I can to help me figure out what I want to do this Fall. I did watch some of the previous year class videos, but the in class experience is quite something else. So wish me luck and I’ll post about what classes I finally end up in!

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