The Contrasts of a Big Company and a Small Start-Up

Title: The Contrasts of a Big Company and a Small Start-Up
Date: 2006-06-07
Speaker: Gil Penchina (Wikia)
Link: Entrepreneurial Thought Leaders
 
Beanie Babies was number one item at eBay.
eBay originally didn’t want to be in the payments business.
Sometimes new people change what the business is.
A marketplace needs to have both large numbers of buyers and sellers. That is the network effect.
Go to school abroad if you can (for a semester or year).
Trading is universal.
Big company skills don’t necessarily translate to small companies. You have to unlearn some skills.
Find areas outside of what you’re doing where you can learn skills that will take you where you want to go.
There are always ways to learn the skills you want if people don’t give it to you at your day job.
In startups there is a lot of stuff that doesn’t get done because nobody gets to it.
Be able to push things forward by force of will.
Failures are more helpful going forward than successes.
It is a really small world. You’ll run into the same people over and over again.
It is better to do a few things well than a lot of things poorly.
Never cross your legs in an interview. You don’t want your leg to fall asleep.
Everyone wants to be an expert about something.
The more time you spend doing something the better you get at it, the bigger your network gets, and the more skills you gain.
Luck is a combination of good timing and some preparation.
Have a 10-year plan.
Pay it forward.