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2022-06-13 15:59:18

7 lectures in Stanford University that will help you learn to be a business leader

7 lectures in Stanford University that will help you learn to be a business leader

Businesses founded by graduates of Stanford University have created 5.4 million jobs and bring in almost $ 3 trillion annually of economic effect. 

We selected the 7 best lectures, watched them and wrote out the main points.

How to grow continuously

When do I need to open a company? Instead of waiting for the right moment from a financial point of view, determine whether to wait for the right time, develop the right skills and connections, and then start your business.

Fire yourself! To build a scalable self-organization, you need to be ready to take some of the responsibility or hand it over to someone more capable. 

Aspiring entrepreneurs need to ask themselves two fundamental questions: 

  • What dilemma am I solving?
  • To what extent is the problem?

How to Become a True Leader

Act like an ancestor. Parents encourage us to excellence and help us achieve our goals by sharing responsibility with us, and company leaders can apply the same concept.

Treating staffers as owners will make them care about the company if they feel they own it.

Recruiting is a business-critical function, not a side job that needs to be done after everything else has already been done. 

Define corporate culture. Formulate beyond the value of your company initially – they will determine what kind of personnel you will attract. 

Why you need to learn on the go

The path to success doesn't look like a to-do list.  Amazon, Google, Facebook, and Apple were founded by people who didn't even know what they were creating, but figured it out along the way. So don't panic if you don't have all the answers and a clear plan.

Don't worry about competition. Of course, it must be taken into account, but it is better to spend time and effort on what you can definitely control. 

How to Step Out of Your Comfort Zone

Set uncomfortably high goals. Ambition helps to get out of the comfort zone, which helps teams overcome everyday obstacles, and professional growth is accelerated.

Develop an innovative culture.

Take time to communicate, communicate with colleagues, if you want as many people as possible to know and appreciate what you do. 

A healthy innovation environment is when anyone can share ideas without resistance or bureaucracy.

How not to destroy your startup

Only a third of startups fail due to the fact that they do not meet the requirements of the market. 65% of these companies fail because of internal problems.

According to studies, more than half of the teams are made up of people who interact more socially than professionally. This path usually does not bring any benefit: teams of friends or family are the most unstable, therefore, despite close ties, they often fail.

How to learn to take risks

Meet deadlines. To prevent your startup from failing, develop a timeline with stages – this will allow you to create a clear schedule that is easier to work with and plan.

Let go of the idea. Most young entrepreneurs often keep their idea a secret. Projects are like children, whom we must embrace and protect, but it is important to release both in due time, this is necessary for their improvement. Getting feedback is very important.

Analyze your own performance. When you doubt your skills, remembering the hard work you've done can be a source of hope.

How to scale your company

As your organization grows, everything grows, including unnecessary workloads. Every growing business has processes that continue to work even when they have lost their meaning (for example, unnecessary reports). Therefore, the higher the level of development, the more ruthless the optimization and reduction.

Try different scaling paths. It is important to carry out local standardization of products taking into account local conditions.

Scale the thought. In the process of this process, a chain of turns is very important: if you want to promote people in any direction, and they do not like it, then your goal is to constantly push them. After a while, the view of employees probably coincides with yours.

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Egor Eremeev
Current material has been prepared by Egor Eremeev
Education: Westminster University (Business & Management), London.
Egor studied and lived in the UK for 8 years and graduated from the university of Westminster. He is currently the co-founder and the director of business development at Smapse Education and personally visits foreign schools and universities, interviews students studying in those institutions.
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