Timing is Crucial in Business
Timing is Crucial in Business stories
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charoun
charounAuthor, Professor, Venture Capitalist
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Chris Haroun is an award winning business school professor, venture capitalist and the author of "101 Crucial Lessons They Don't Teach You In Business School ", which Forbes magazine calls "1 of 6 books that all entrepreneurs need to read right now" along with Peter Thiel's book and The 7 Habits of Highly Effective People.
Chris is currently a venture capitalist at a prominent San Francisco Bay Area venture capital firm and has previous work experience at Goldman Sachs and several firms that he has founded. He has successfully raised and also has managed over $1bn in his business/finance career.

Chris is also a frequent guest lecturer at several Bay Area business schools including Berkeley and Stanford. He has written numerous articles and been interviewed in Forbes, VentureBeat, Entrepreneur Magazine, Wired Magazine, AlleyWatch.

Find my courses me on Udemy: https://www.udemy.com/use...

My book: http://www.amazon.com/Cru...

Timing is Crucial in Business

Chris Haroun

Since I'm Canadian

I have to quote the greatest hockey player of all time, Wayne Gretzky. Gretzky was incredibly successful not because he skated to where the puck is. Rather, he skated to where the puck is going

Companies that have incredible foresight into a market

that will have an enormous total addressable market (T.A.M.) are essentially subscribing to Gretzky’s forward thinking strategy. This is what Bill Gates and Paul Allen did in the 1970s

The right idea at the right time

Yahoo’s purchase of Broadcast.com in 1999 could have had YouTube-like returns for investors. Similarly, Yahoo’s purchase of social media pioneer GeoCities in 1999 could have had Facebook returns

Unfortunately the timing was way too early.

The same can be said for Apple’s Newton

which was several years too early or Microsoft’s early tablet computer strategy or even Oracle’s brilliant but failed Network Computer strategy in the 1990s.

Timing is everything.

There are also so many amazing environmentally friendly clean tech companies out there that might be decades too early to succeed; I am certainly hopeful that they do.

I had the privilege of meeting Andy Bechtolsheim

Many people believe Andy is the most successful tech entrepreneur in Silicon Valley history. Andy was not only the very 1st investor in Google, but he was also the 1st employee at Sun Microsystem

I asked him for reasons of his success.

Andy has never had a failed startup and he very humbly told me:

"Timing is one of the most important drivers of success"

Timing also matters when it comes to VC investment

Venture capital investors then wanted to back a sure thing, which of course was Facebook. Of course we know that Google and Facebook succeeded for many reasons,but timing helped them

So how do we know if our timing is good enough?

It comes down to several factors, including a huge consumer or enterprise appetite for a product or service

This can be quantified....

through an enormous T.A.M. Component or input prices for products needs to be low enough as well, which is a reason why Android and Apple smartphones have been so incredibly successful

Timing might be a bit less relevant in technology today

What I mean by this: tech companies are copying the magazine subscription business model and renting or allowing consumers or enterprises to effectively subscribe to use products

As a result of subscription business models:

from companies like Apple or Salesforce, timing is a big less of an issue today. A two year subscription to a smart phone might cost close to $1,000. Stick shock risk is mitigated

Timing has a lot to do with success

we need to skate to where the puck is going to be in the not too distant future.

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