Hello everyone, we are back after a 2-month hiatus, and boy do we have some updates for you. Here is our latest installment of the TEE Bulletin, replete with recommendations, upcoming event info, and big organizational news. And away we go…
Book Recommendations
Some reading material for your mid-August break:
The Innovator’s Dillemma, by Clayton Christensen
Byron Webster ‘07: “Do you know what a disruptive technology actually is? Do you know how to compete with a disruptive technology? Christensen uses examples from the disk drive industry to show how rapidly evolving technology can destroy the markets it has emerged from.”
Ruben Miranda ‘08: “I’m about halfway through this book. It’s dry in some places, and a bit dated with the material (disk drives, minimills, etc), but the lessons learned are timeless. Christensen has also authored a few Harvard cases, so chances are you’ll see some of his work before you graduate.”
The 21 Irrefutable Rules of Leadership, by John C. Maxwell
Guennael Delorme ‘07: “In my mind, Maxwell is the best leadership speaker on the circuit today. This is what I believe to be his best book (have read a couple). Not for entrepreuneurship per se, but very important to us as we develop our own companies (or grow in someone else’s). I like to regularly check back on these rules.”
Recap of Guest Speaker Session
On Memorial Day Weekend we gathered to listen to Divakar Jandhyala and Ranjit Nayak (’07’s) talk extensively about their experiences with their new startup, eVapt. This was a unique opportunity for Divakar and Ranjit to discuss the startup process from the student’s perspective. As entrepreneurs they spend the bulk of their time pitching, but not much time reflecting on what works and what doesn’t. For starters, passion counts: hiring people that aren’t motivated by a large paycheck is critical to building team chemistry. Also helpful: using the curriculum, classmates, and professors to look at the business from all perspectives. And finally, don’t underestimate the power of a mentor! Divakar and Ranjit looked to Daniel Nelson (TEMBA ‘06 and a founder of Phurnace Software) for guidance and moral support. It just goes to show…you’re not really alone in it.
Many thanks to Divakar and Ranjit for taking the time out to share their experiences, and I am certain we will hear of more success from them soon.
Venture Capital Workshop
Our next scheduled event is a big one: Professor Kevin Williams (who teaches Innovations in Business Marketing in the TEMBA program) has volunteered to lead a 4-hour workshop on Venture Capital.
Date: Saturday, August 4th, 2007
Time: 8:30 am - 12:30 pm
Place: McCombs GSB, Room TBD
For those of you who haven’t had the pleasure of taking his Innovations class yet, Kevin Williams is a former Venture Partner with ARCH Venture Partners (1999-2005), where he was involved in seed and early-stage technology investing. Suffice to say he’s got plenty of real-world experience to share on VC funding from the investor’s point of view.
The agenda of the workshop:
- Entrepreneurship and Venture Capital Overview — demystifying the process
- Term Sheets — what to look for, and what to avoid
- Angel Investors — how to get them, how to deal with them
This event is open to all TEMBA students and TEE alumni. Coffee and breakfast will be provided, as usual. There are no prerequisites needed, nor is there any prep-work involved. The only requirement is an RSVP, so if you are interested in attending, please contact Shannon Sutton so we can reserve a spot for you.
Social Event
Right on the heels of the Venture Capital Workshop will be our next event — a social function. Similar to our previous social gathering back in January, we will be hosting a happy hour at a venue TBD. We’ve set a preliminary date of Tuesday, August 14, a normal school day if not for the summer break (that’s a built-in excuse right there!). So please come out and enjoy the company of your fellow TEE members just before we jump into the Austin Intensive. These sorts of opportunities don’t come around often, as we all know, so worth taking advantage of it while you can. Details on time and location will be forthcoming, as will an evite.
Passing the Baton
As many of you know, I am stepping down as TEE President effective in August. I wanted to announce that we’ve secured new leadership for TEE through the 2007-08 school year. I am happy to report that Brian Romanko ‘09 will be succeeding me as TEE President as of 8/14. Furthermore, Needa Needel ‘09 will be assuming Vice President duties from Cynthia Lee ‘08. Congratulations to both Brian and Neena! I feel that this organization has so much potential to grow, and I’m confident Brian and Neena can take it to the next level.
Of course, August is still 2 months away, so your current leadership still has work to do! Please join us for the VC Workshop, and keep an eye out for more details on the social event.