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How an aspiring entrepreneur can learn a lot about startups while still in high school

venrock
Kevin Ryan (left) and Venrock partner Nick Beim (right)
Nick Beim

High school, says Kevin Ryan, may have taught him one of the most important lessons about entrepreneurship – that is, creating infectious enthusiasm for building a team.

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“The training you get in school clubs is fantastic training for startups,” says Ryan, co-founder of DoubleClick, MongoDB, Business Insider, and Gilt Groupe on Venrock’s latest podcast episode of Running Through Walls. “Because no one needs to be there – if they’re not enjoying it, if they don’t think there’s a mission in your student council, or your math club, then they just stop showing up.”

Another lesson in his career – one he passes along to young entrepreneurs at every opportunity – is to take chances with new ventures, even if it means digging out of a failure or two. “I should have been more aggressive early on,” Ryan says. “I felt like I needed to work for good, big companies, and have good names on my résumé, but I think you need to take more chances.”

Today, entrepreneurs are encouraged to take risks, Ryan says, and younger entrepreneurs are the better for it. “I think when you interview someone today who did a startup for a summer during college, which utterly failed, we think that is a great thing.”

Finding the right VC is critical because the partnership can last a decade. “I’m looking as much for the person as the firm,” Ryan says. He looks for a partner who’ll serve on the board for years to come, and who’ll offer counsel on every part of the business. “They can say, ‘Look, I think you’re forgetting that we’ve been missing this target, and maybe it’s time for a change here or there.’ And we need to listen to that valuable perspective.”

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Part of entrepreneurial success, says Ryan, is having the wisdom to sell the business when a good deal comes along.

“Entrepreneurs are by definition optimistic – congenitally,” Ryan says. “And as a result, they really think they’re the next Facebook.” Sometimes that can lead to overconfidence when it comes to acquisition discussions. “Every VC out there loves to talk to someone who started a company, sold it, made money, and now is ready to do it again,” Ryan says. “I mean, that’s a better entrepreneur, and someone that everyone wants to do business with.”

Going back to his high school days of helming clubs, Ryan is a big believer in fun as a key ingredient for entrepreneurship.

“I’m still doing the same thing I was in high school, which is either running student council or playing on a sports team, and we’re trying to beat that team that beat us last year,” he says. It’s the same game in Silicon Valley: “People are going to turn us down, VCs are going to turn us down, but we’re thinking, ‘We’re going to win, and we’re going to do a good job, and we’re going to enjoy the process along the way.’”

Read the original article on Contributor. Copyright 2016.
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