This video is brought to you by The Alley Insider and famed VC and leading entrepreneur John Doerr. Doerr is an American venture capitalist at Kleiner Perkins Caufield & Byers in Menlo Park, California, in the Silicon Valley. Doerr joined Intel Corporation in 1974. He also holds several engineering patents.
He joined Kleiner, Perkins, Caufield, and Byers in 1980, and since then, has directed venture capital funding to some of the most successful technology companies in the world including Compaq, Netscape, Symantec, Sun Microsystems, drugstore.com, Amazon, Intuit, and Google, as well as Friendster, Go.com and myCFO.
He currently serves on the boards of public companies Google, Amazon.com, Intuit, Homestore, and Sun.
He is widely regarded as one of the top technology venture capitalists in the world.
Forbes magazine estimates his net worth to be well over $1 billion. Doerr is a high profile supporter of the Democratic Party in Silicon Valley.
The best VC in history provides the definitive guide on how not to fly your company into a mountain (video below from Kara Swisher). Here's the summary:
1. Act now
2. Protect vital core of business (surgical cuts, not axe)
3. Get 18 months or more of cash
4. Defer unnecessary expenses (swanky new office, Microsoft Windows) and be tightwad on capex. Re-prioritize all R&D. You now can't afford to do it all.
5. Negotiate. In this climate, everything is negotiable. Including existing contracts, terms.
6. Everyone in company should be selling, even receptionist. (This is not just about expenses, need to grow revenue).
7. Swap cash bonuses and salaries for equity.
8. Pay attention to where your cash is. (Treasuries, not money markets).
9. Look 90 days ahead and assess revenue. If not there, reset plan.
10. Overcommunicate: With employees, investors, key customers. Let them know your resolve. Don't sugarcoat the s
Hosted by brightcove.com
Creator's Site: www.alleyinsider.com
