The 5 Rules for Silicon Valley Success That Can Work Anywhere4:02 AM
What makes silicon valley successful ? The methodology used by the entrepreneurs of this area of California will allow you to innovate and...
But how do the Silicon Valley entrepreneurs adapt? In short: being flexible. That flexibility is maintained through a series of unwritten rules about how people interact with each other. These rules form a sort of invisible social contract that supports entrepreneurs as they innovate and adjust to the ever-changing market.
Here are the five Silicon Valley unwritten rules that can work for any entrepreneur, no matter where they are:
1. Trust and be trustworthyI have noticed that it is generally harder to forge new business relationships outside the Silicon Valley. In some places, the 'new' are viewed with suspicion for years. Instead, in Silicon Valley, any meeting in a coffee shop can become a business alliance the next day.
High social barriers - whether caused by geography, culture, language or mistrust - can end a relationship even before it begins. The rate of innovation increases when people break these barriers and create bridges of trust outside their usual circles. Doing so is crucial as change comes about when people contribute with different ideas, skills, and connections.
2. Seek justice, notThe advantage I have found that many individuals treat the business as a game where one side wins and the other loses. Investors are often the worst at this. However, the most successful venture capitalists know that they must treat their entrepreneurs somewhat.
Here is a lesson that many people find difficult to learn: You can not innovate alone; You need partners to take the trip with you. Wise entrepreneurs have the humility to seek positive collaborations with others and are willing to sacrifice their immediate interests for long-term results.
3. Make chains of favorsIntroduce others to your own network; Return phone calls; Become a mentor. You might think you will not get anything in return, but you're actually getting something of great value - an excellent reputation. Little by little you will notice that you have become an expert, someone that other people can trust and, just as importantly, someone to think about.
4. Open doors and listenOnce I presented a deal to another investor at risk, who spent most of the time in which he spoke by writing a message on his cell phone. And missed a great opportunity.
Listening is key to building relationships and meeting needs. You do not want to be the one who rejected the next Mark Zuckerberg, nor does monologs in your conversations. Ask questions and keep learning. It creates an environment in which diverse opinions and talents are valued, and where the 'new' do not remain unknown.
5. Experiment togetherHere's a little trick I learned from my Stanford designer friends: Practice saying 'yes' instead of 'no' to any ideas. Will all of these opportunities be healthy and fruitful? Clearly not. But creating a workspace in which there are no evil thoughts, allows generating good ones. Thomas Edison tested more than 2,000 materials before developing a functional focus. Mistakes do not define you, they perfect you.
Do not let the fear of failure stop you from trying something new or taking the advice of others. If things do not work well, adapt, take back and try again.