Entrepreneurial Common Sense

I was president of a venture capital firm for seven years. The VC firm was primarily funded by Ewing Kauffman, the billionaire owner of the Kansas City Royals, founder of Marion Labs and founder of the Ewing Marion Kauffman Foundation - an organization dedicated to fostering entrepreneurship. Here are a few of the principles from the “CEO 50 Principles” that we developed regarding managing a balanced business.

The money pie.
Don’t worry about the size of your slice. Your job is to make sure everyone has a slice and then to focus on making the pie bigger.

Education.
From time to time, have your staff take a class at a local college. It will stimulate new thinking. Our minds, just like our stomachs, need some new foods periodically. Feed both. Make a list of things you would like to do, then take a class in one of them. You grow by your decisions and your actions; you atrophy by indecision and inaction.

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