Great talk with Marc, Chris and Eric at the Lean Startup Conference. Covered a lot of material – cars, military, software everywhere, government regulation, healthcare, bitcoin, fintech, underwear gnomes, the value of business plans, market sizing (top down vs bottom up), going small to go big, the importance of clarity in your mission and a bunch more.
Eric does a nice job keeping the conversation focused on operating issues but some of the usual questions creep in such as how to raise money from investors. The money quote comes from Marc (around the 35 minute mark) in response…
People over train on how to convince investors to give you money. People under train on how to be so compelling that investors can’t resist giving you money.
Now some might say, what’s the difference? To me, it’s the difference between cramming for a test in order to successfully answer the questions, and mastering the subject so thoroughly that the questions asked don’t matter.