ProdMgmtTalk

Global Product Management
Harsh Realities of A Tech Startup: Bernd Schoner, PhD, Author, discusses his book with us here.
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Q8 What advice do you have for entrepreneurs and their families?
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Entrepreneurship isn't as risky as it is uncertain - you don't know where it will take you or how long it will take says @berndschoner
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@berndschoner says dealing with uncertain future was most challenging - 3 of his 5 co-founders left before company exited
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1. Ask if you can deal with uncertainty before founding a startup
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2. Ask what you and your family can live without while you pursue the startup - what are your minimum basic requirements for lifestyle?
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Q7 What do tech entrepreneurs need to know about patents and where can they turn to for information?
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A7 startups move faster than the patenting process - take patents seriously to identify best strategy but don't let it deter you says @berndschoner
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A7 a single patent will not deter you - most patents are not valid and may not ultimately hold up in court - only recognized if challenged in court - avoid infringing but don't let it hold you up
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If you can find 1 patent, there's probably 9 others that aren't valid. Keep budget for patents reasonable to protect IP #prodmgmt
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"Kitchen patent" describe everything in 1 patent initially says @berndschoner
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Q6 Early on in ThingMagic, your team established the principle that every founder and key executive received the same salary compensation. Why? How long was this in place?
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Every1 is working on common goal initially - passion is not based on paycheck - its to build successful product & company
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@berndschoner maintained equity salary for 10 years until ThingMagic got sold= equal suffering for common goal
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Q1 What were the first steps you took to turn your idea into a reality at ThingMagic?
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Welcome to @berndschoner describing the beginnings of ThingMagic #prodmgmt
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@berndschoner started in 2000 when dot.com bubble burst
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Q3 What should a recent college graduate consider before venturing into a startup?
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A3 if have a technical strength - join a team early as cofounder for a natural path into #prodmgmt.
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Get the book at bernd.us or go to Amazon and search Bernd Schoner http://bit.ly/1lx8Jr...
Bernd Schoner, PhD Author, The Tech Entrepreneur’s Survival Guide
Most technology startups never make it to the funding state, and only a small percent of those that are venture-backed generate positive returns for their investors. An even smaller number of startup founders enjoy a prosperous exit. A success story ...
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@berndschoner says in book - being part of founding team provides degree of freedom to acquire specialty. Recommends starting from tech role to not become victim of engineering team
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shout out to @specialLi1972 @umeshmajhi discussing inherent tensions for #prodmgmt within growing organizations and scaling startups
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Difficult to determine where #prodmgmt should report - tried it under marketing but created disconnect, later reported to engineering bu lost commercial side of equation says @berndschoner
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#prodmgmt in a startup is "make or fail" typically have 1 product - must be successful or else - #prodmgmt responsibility is on senior leadership
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