Living the Startup Dream

A major component of our IMD entrepreneurship education is the Startup Project. 18 startup companies have come to IMD asking for “help.” “Help” means anything from business strategy to market research to marketing to manufacturing and production optimization to HR to . . . any other aspect of business. Frequently they need help with several of these issues in order to secure loans, raise money, or even just get “unstuck”. In January students selected from the 18 client opportunities and began work immediately. We are expected to deliver demonstrable value–not just a high-level, hand waving consultant report. We are expected to provide recommendations and then help implement them–essentially to work IN the startup.

My startup group (myself and four others: Turkish, Russian, South Korean, and French) is working on a company called DeskNet, which produces Sobees. They came to us without any investors, strategy, business model, clients, completed product, or many of the other things you would expect in a successful startup. Ah yes, living the startup dream! 😛 But hey, they have a cool idea and we know we can help them commercialize it. We’re really into the thick of it now, so I will keep you all posted about our progress over the next few weeks. I may even ask for some feedback on our ideas and options as we move forward.

Jurassic IMD

Yesterday our afternoon class was interrupted by numerous loud booms that sounded (and felt!) progressively closer and closer. Theories about the source of such tremors ranged from the boring (construction of the building next door) to the outlandish (fiesty Evian launching an offensive from the other side of Lake Geneva). As I sat watching the shock waves in my cup of water, I was positive that the booms were attributable to a Tyrannosaurus Rex that had escaped her pen. Good times.

Fortunately we had a really cool case about Palm, US Robotics, 3COM, and Handspring during Entrepreneurship so there was no time to fret. It was fun analyzing the entrepreneurial opportunities in the handheld software industry during the .com boom because my first startup was . . . a handheld sofware company during the .com boom! What amazing times those were–and were only in Austin. I can only imagine the electricity in Silicon Valley!

John Doerr’s name came up again during that class and today’s strategy discussion about Apple has included some talk of Intel and AMD. AMD’s CEO, Dr. Hector Ruiz, is another Rice alum–go Rice!

And speaking of Rice, I wore a War Owls shirt to Saturday’s ping pong tournament but it didn’t seem to help much. I won a few games but was out before the semis. This forced me to break out the football and toss it around in the gorgeous weather. Rough life!

1987

The mid-80s have been pretty disappointing (It’s basically Madonna‘s Immaculate Collection.) with occasional flashes of brilliance in the form of 80s classics and nostalgic movie themes. I’m in 1987 now and I was delighted to discover the following:

The #18 song of 1987 was “I Think We’re Alone Now” by Tiffany.
The #19 song of 1987 was “Mony Mony” by Billy Idol.

These are both covers of originals by Tommy James and the Shondells, one of my favorite underrated 60s bands. “I Think We’re Alone Now” was the #12 song of 1967 while “Mony Mony” came in at #13 in 1968. It was fun to find these consecutive covers by different artists two decades later. Tommy James, you rock.

When I was about 6 years old, there was a local TV personality who belonged to my church. He made a series of three music videos starring members of our church to run on the local news. The first was “It’s Judy’s Turn to Cry” (Lesley Gore, 1963) starring me and my daycare classmates. The second was “Draggin’ the Line” (Tommy James, 1971). And the last was “Too Late for Goodbyes” (Julian Lennon, 1985), which I just rediscovered as I made my way through 1985.

There, it was kind of a stretch but I tried to bring it all together with that random memory. 🙂

Burning Platforms of Change

Today was our second Strategy class with Canadian professor James Henderson. He’s a bit goofy, using accents and emphatic gestures in class, but he is already impressing me with how little I apparently know about strategy–which is ostensibly one of my strong suits! Jim led the case discussion of my IMD application interview (Part of everyone’s application is a case preparation and discussion with other interviewees moderated by an IMD professor.) and the insights to which he led us constituted a major reason I decided to come to IMD. I found myself thinking and approaching problems in new ways; I realized that I had quite a bit to learn and, as much as I learned during my IMD interview day, I knew this was the place for me to learn it.

Today’s case discussion was built around the French wine industry and what strategy it should take–as an entire industry–to fend off competition from the New World, especially Australia. Sometimes doing homework is a real pleasure; I’ve been preparing this case for at least 10 years!!!

Rice at IMD

Yesterday’s classes featured two prominent Rice alumni. In Entrepreneurship we covered John Doerr (class of ’73 and ’74), one of the world’s most influential venture capitalists. Later, in an etiquette class, we saw pictures of Jim Turley (class of ’77 and ’78), the Global Chairman and CEO of Ernst & Young, who apparently knows how to dress appropriately for business events. Incidentally, both of these accomplished gentlemen were at Lovett–RRF! As a Lovetteer myself (’01 and ’02), I hope one day to join them in the pantheon of distguished Rice alumni.

In the meantime I just finished playing ping pong in the snow during our lunch break. It is the 8th of April. Toto, we’re not in Houston anymore.

Bring It On!

Yesterday I was the guest writer for IMD’s MBA Diary. My entry was as follows:

Exams are done! I know there have already been two diary entries on this subject but it is impactful enough that I believe a third is warranted. The exams, even those in the subjects that I would consider my strong suits, were not easy. Each required several hours of intense performance preceded by days of preparation. It was interesting to see how a group of overachievers approached the week. Some were driven by trying to score highly in all subjects. Some just wanted to pass. Some prioritized certain subjects and exerted minimum effort in others. By the end, though, I think we all felt we understood the material pretty well. Whether or not the faculty agree is a different story!

Regardless of the grades they will receive, I am particularly impressed with the non-native English speakers in our class. Many of our exam questions were worded such that they seemed ambiguous or confusing even to me, an American with very good command of the language (No snickering, British readers!); I can’t imagine how much of an additional challenge that must have posed for students who speak English as a second, third, or fourth language.

I am also impressed by my older classmates. Because of IMD’s high average student work experience many of our students are 10 years or more removed from academia. IMD’s intense approach to classes would be challenging even for someone still in academic “mode.” However, for someone who hasn’t pulled an all-nighter or crammed for an exam in this century, I’m sure the difficulty is amplified. These students bring other strengths to bear in exam preparation: organization of review sessions, identification of outside-IMD resources, and a wealth of experience in mobilizing to solve hard problems on short notice.

If there is one place where IMD students collaborate better than in the Dungeons, it is on the dance floor. As Mathieu and Cat have already mentioned, Friday night we blew off a lot of steam at a club in Flon. I remain wholly underwhelmed by Lausanne’s club offerings; Friday night’s locale was allegedly one of the best in the area, but even it had generic dĂ©cor, uninteresting staff, and music that was popular five years ago. Despite this, going out in Lausanne is incredibly fun. Regardless of the setting, there are 100+ friends (classmates, partners, and sometimes even staff) with you and the spirit of camaraderie strong. It is a very therapeutic way to escape the IMD bubble and, with the help of a little “social lubricant” (alcoholic beverages for those who are unfamiliar with the term), sometimes the romantic tensions between classmates slip out into the open!

The rest of the weekend featured wonderful weather, fun, and “relaxed productivity.” Our IMD beach volleyball team had its first practice for the MBA Tournament that is only one month away. Given our performance, we still have a long way to go to be competitive, but I am very confident in our ability to bridge that gap. After all, since arriving at IMD, I have seen teams of French, Brazilian, Chilean, Czech, American, Canadian, Spanish, Indian, and Italian members surmount much greater obstacles!

And speaking of international teams, as of tomorrow my study group will change from US-Czech-France-Italy-Belarus-Portugal-China to US-Uzbekistan-China-Germany-Russia-Nigeria-Spain. I will miss my old group dearly—we shed a lot of blood, sweat, and tears together during Mod I—but at the same time I am very excited to work with my new group. Good luck to all in Mod II!

Why Would an American Study an MBA in Europe?

I was recently interviewed by Business Week for an article about European business schools and how they are attracting more and more American talent. The full article is here; my quotes are on behind a paywall under the IMD section:

Bryan Hassin, a 28-year-old student, had worked nearly seven years at Houston-based technology consulting firm R7 Solutions, including three years as its chief executive, before coming across IMD in BusinessWeek’s rankings. “Between its dominant focus on leadership development, incredibly experienced and internationally diverse students, and use of international consulting projects for real-world learning, I was hooked,” he says. He is now seriously considering a career in Europe, calling Switzerland, with its international vibe and cultural offerings, a “refreshing” change of pace from Texas.

“Global perspective is a great buzzword but it isn’t something that can be learned in a book or weekend seminar,” Hassin says. “It must be won through experience.”

What do you think, how did I do? Everything I say, write, or do at IMD is scrutinized and evaluated so why not this too? How well do I represent the appeal of a European MBA as a career choice? How well do I represent IMD as a program? How well do I represent myself to potential employers (Would you want to hire me?) or potential IMD applicants (Would you want to work on projects with me?)? Please leave me a comment or shoot me an email with your honest feedback–there is no pride in authorship here!

FYI the full text of my responses to the journalist’s initial questions (The rest of the interview was conducted over the phone.) is as follows. Again, criticism is welcome:

“Why did you choose a European school over an American one?
I didn’t explicitly decide on “European over American” and then find the right European program. In fact, I didn’t even decide on “business school over other options” and then find the right program. I decided to find the best opportunity for me to enhance my leadership skills and international business experience, whether that meant augmenting my then-current life with education and mentorship or doing something more drastic like changing jobs or going to school full-time.
Frankly I wasn’t that enthusiastic about the prospect of business school in general. I had a concept in my mind of what business school was like (based on myriad friends and colleagues who had attended American schools, mostly HBS, Stanford, Wharton, UT, and Darden) and it seemed . . . “fluffy.” It seemed more appropriate for people looking for major career change or who needed MBA credentials to accelerate their corporate ladder ascents. I, on the other hand, was a 28-year-old CEO of an exciting, multinational software company and I loved what I did—I just wanted to learn to do it better.
To be thorough, I included business schools in my research anyway, even though I wasn’t too enthusiastic about them. Although the American programs had much higher brand recognition in the US, my preferences pushed me toward European programs for four reasons. 1. Most of them were much shorter than the American programs. I’ve been a “sprinter” my whole life and I loved the concept of a one-year, intense program. 2. Having lived in Florence, I love Europe and am very open to the possibility of working here after my MBA. I hypothesized that a European program would put me closer to European professional opportunities. 3. My entire business education so far (in the workplace) has been in the American entrepreneurial mindset. As I contemplated taking a full year off to learn, I saw more value in being exposed to a different perspective. 4. Every business school in the world advertises itself as “international” but the European schools seemed to be much more international, both in terms of student/faculty demographics and in terms of focus, than their American peers.
Still, I wasn’t sold on business school at all (European OR American) until I discovered IMD—through Business Week’s rankings, incidentally! Between its dominant focus on leadership development, incredibly experienced and internationally diverse students, and use of international consulting projects for real world learning, I was hooked.

Did you apply to American MBA programs? If so, which? If not, why?
Although I considered Stanford GSB (specifically its Certificate in Global Management specialization) and the Lauder program at Wharton, I applied only to IMD. Had I not been admitted to IMD there still would have been time to apply to American schools and I probably would have applied to Stanford. Its entrepreneurial focus and proximity to Napa Valley would have been a good fit for me. However, as I considered my IMD acceptance offer in October of 2007, the choice between re-entering the job market in December of 2008 (IMD) versus May of 2010 (Stanford) really wasn’t much of a decision at all. As I mentioned earlier, I’m a sprinter.

How do you think an MBA from a European school will give you a leg up careerwise?
There are certainly pros and cons to having an MBA from a European school. As mentioned earlier, the European schools are certainly less well known in the US than are the American schools. However, my goal in this adventure isn’t to have a degree from a “prestigious” school; it is to develop myself, my skills, and my international exposure. At IMD I work with psychologists, coaches, and faculty to develop my leadership skills in an intensely personalized way. I spend the better part of 100 hours a week with a student body that is 90% non-American. I will spend almost half of my MBA studies working on projects for leaders of non-American companies and governments. These are opportunities that no American school can offer me.
The question remains, though: “Why is international experience so important and how will it give me a leg up careerwise?” Not to sound clichĂ©, but we live in an increasingly global world. Teams span continental boundaries and the actions of an organization in one country may immediately impact organizations, people, or the environment in another country. It is absolutely crucial for our leaders to lead with global perspective; leading unilaterally is simply unsustainable. “Global perspective” is a great buzz word but it isn’t something that can be learned in a book or weekend seminar; it must be won through experience. As the generation of my parents retires, there will be an incredible opportunity for those in my generation to step up and fill leadership positions. Global perspective will be among the most prized attributes of leaders sought to fill those positions.

What are your career goals?
My two major interests are leadership and entrepreneurship, both of which I have been practicing in various ways since I was a child. My professional career so far has focused on starting up small software companies in the US, which has been an incredible experience. After my MBA I anticipate focusing on executive leadership, although ideally in an entrepreneurial, innovative environment, whether that be again with start-ups or with new ventures in established companies. My long-term plan is to be CEO of a truly world-changing company in the IT, renewable energy, nanotechnology, or spaceflight industries. That said, I would settle for something a little less “world-changing” as long as it were in the wine industry! 😉

These responses were longer than intended and I should really be reading cases right now, but hopefully this gives you some context for my thinking. Have a good morning and I look forward to our call in the afternoon.”

Yay, Sports!

Blogger’s note: I no longer use the term “Redskins” but am leaving my prior references intact in the spirit of learning.

Although I should really be studying for Finance, I must pause and say a few words about my favorite sports teams. Today I wore an old Washington Redskins t-shirt, which reminded me that I still haven’t posted about Art Monk. Monk was an amazing possession receiver for the late-80’s/early 90’s Redskins dynasty. He wasn’t the fastest receiver in the NFL, but he was the guy you wanted on your side of the ball when it was third down. Besides, the Skins had Gary Clark and Ricky Sanders, the rest of “the Posse,” for speed.

What impressed me most about Monk wasn’t his playing ability; it was his class. On and off the field he was a stand-up guy in every respect. I had the opportunity to spend a little time with him at his football camps when I was growing up and I can’t think of a better role model for young athletes.

Earlier this year, Art Monk was elected into the NFL Football Hall of Fame. Darrell Green, another Redskin, spent nearly two decades as the NFL’s fastest man and was elected into the shrine this year as well. Although IMD is very different from the NFL Hall of Fame, I’m proud that come December I will share the distinction of “Class of 2008” with them. Congratulations, Art and Darrell and HAIL TO THE REDSKINS!

Now, on to matters of more immediate importance: Rice Baseball! My poor Owls have been struggling this season. Last weekend they broke their 40-series home win streak and this week their ranking fell to #12. That’s OK, though; I’m sure they’re just working the kinks out early in the season. And as you will recall from my earlier post, I’m happy as long as we beat Texas. Still, I wore a Rice Baseball National Championship t-shirt on Monday as a long-distance show of support. It worked; last night Rice beat UT in front of an Austin crowd of 6,511. I wish I could have been there–and on 6th Street afterward! Stand, cheer, DRINK MORE BEER! Go, go, GOOOOOOOO Rice!

Two Fifths Down, Three Fifths to Go

Some friends back home make fun of the way I frequently divide things into fifths: probabilities, progress, alcoholic beverages . . . anything. Well today my pro-fifthism is justified as we are 40% done with our Mod I final exams. LPO went well yesterday as we analyzed a very interesting case about leading change in uncertain times. Today Accounting went . . . less well . . . but I was impressed during my studying by how much I had picked up in class. Stewart has managed to teach me a thing or two whether he likes it or not!

To help me tune out all the clackity-clack of laptops and calculators during the exams I have been listening to Mozart on my mp3 player. As Maury, my LPO professor, is a pianist, I listened to piano concerti (especially 21 and 23) and sonatas (especially 11 and 16) during the LPO exam. During Accounting I played operatic overtures. Given how much better I think (hope!) the LPO exam went, I think I’ll return to the piano tomorrow.

Tomorrow’s exam is Marketing. We have already received the case on which the exam will be based and most study groups are here in the Dungeons working feverishly to dissect it. Then tomorrow we will individually present our analyses and formulate marketing plans. I’m sad that marketing is coming to an end; it was an interesting class about everything from market research to branding to comunication and distribution of products. We learned much more methodical approaches to answering marketing questions (and that most business questions have at least some marketing relevance) than I’m used to in my “put out the fire” and “if the shoe fits, wear it” software startup experience. Indeed, marketing has turned out to be much more than just “tra la la.”

What we have learned is just the tip of the marketing iceberg. IMD’s objective isn’t to train marketers; it’s to train general managers to be familiar enough with marketing concepts to manage marketers well. I’m embarrassed and disappointed that my group received a barely passing grade–the lowest grade in the class–on our Marketing Plan, the key group project of the Marketing curriculum. However, I’m not here because I have all the answers; I’m here to learn and a key part of learning is failure. Tomorrow I will deliver a much better marketing plan during our exam because I have learned from the failure of our group project. More than just enhancing my grade, hopefully this will help Martin understand that he has succeeded as a professor as well. We got him a bottle of champagne for the last day of class, but I think he will feel more rewarded by our high performance. I hope so at least, as high performance is what I intend to deliver.

1983

Jimmy Buffett isn’t the only music to which I’ve been listening; my march through the American pop charts continues and I just finished 1983. Although the number one song was by the Police (Boooooooo!), close on its heels were “Billie Jean,” “Flashdance,” “Down Under,” “Beat It,” and “Total Eclipse of the Heart.” Not bad! Other ’80s staples are sprinkled throughout the top 100: “Come On Eileen,” “Hungry Like the Wolf,” “Electric Avenue,” “Africa,” “Mr. Roboto,” “Sexual Healing,” “Safety Dance,” “Rock the Casbah,” and many others.

Perhaps most noteworthy, though, is song number 93: Far From Over by . . . FRANK STALLONE!!! Fear not, Roger Clinton; if Sly’s brother can make it, so can you! In the words of Norm Macdonald on Saturday Night Live’s Weekend Update, “”The most popular toy of 1996: ‘Tickle Me Elmo’. And the least popular toy of 1996, you guessed it: ‘Tickle Me Frank Stallone’.”