In every successful company, you have got a core team with following qualities:<ul><li>The one who has very good product sense.</li><li>The one who has emotional intelligence for all the stakeholders.</li><li>And the one who knows who to make people move fast.</li></ul>

A Successful Company

Next generation of successful programmers will be those who can write programs such that software themselves can learn how to solve a problem. This is also called machine learning.

Machine Learning

Great products are built from self-use. As a founder, you know whether your product really works or not. And if you don’t know, get the data from your initial set of customers and analyze it. Making sure your product works before you take VC money and start expanding in all directions.

Self Usage: Eating Your Own Dog Food

Three pointers for entrepreneurs who want to build a great company: <ul><li>Have an incredible founding team & right founders to address right kind of problem</li><li>You need to have some luck</li><li>Passion, lots of hard work and hiring awesome people</li></ul>

Advice To Entrepreneurs

Outsiders should understand that it’s not their company. This means to avoid being the face of the company or getting media coverage. That’s what Eric did when he was leading Google and Larry Page, Sergey Brin. He focused on running the company & making it profitable leaving Larry & Sergey to be the face of it.

A CEO Who Is Not A Founder But An Outsider

<ul><li>Hire intelligence over experience.</li><li>Take your time to hire the right guys. And if things are not working with new hires even after doing multiple interventions, fire them fast.</li><li>Sell your dream to prospective candidates. Hire those to whom it makes sense. .</li><li>Hire ordinary people who have done extraordinary things.</li><li>Hire people who can work better in teams. Give a person an exception to be an individual contributor if she is an exceptional talent.</li><li>On the finance side, hire CFOs who have gone bankrupt because they have seen what should not be done to become bankrupt.</li></ul>

Hiring Tips From Eric Schmidt

<ul>
<li>As a young manager, observe and do everything to learn various aspects.</li>
<li>The first 10 years of your career is too crucial & that’s where you learn all the stuff. Thus it’s important that you focus on getting the right kind of learning.</li>
<li>To make a better decision, keep asking yourself “What should be happening in your career/start-up in the next 5 years”. </li>
<li>This might sound like a theory to you or you probably have heard from yogis to practice living in the moment. But that doesn’t mean you should not try to foresee or plan where you want to go and how you can probably reach out there.</li>
</ul>

Advice For Young Managers

The way you build great products is by building a small team, working really hard, pushing the team & getting the product out which just barely works.  Example: The original iPod just barely worked initially. From there, Apple improved it before it was taken to the mass market. As a founder, you have to have a judgment when your product & start-up is ready to scale.

Building Great Products Is A Long Game

Advice to Young Managers and Leaders By Eric Schmidt

This is session 8 of Technology-enabled Blitzscaling, a Stanford University class taught by Reid Hoffman, John Lilly, Allen Blue, and Chris Yeh. This class features Reid Hoffman interviewing Eric Schmidt, the Executive Chairman of Alphabet Inc. (formerly Google).

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This is session 8 of Technology-enabled Blitzscaling, a Stanford University class taught by Reid Hoffman, John Lilly, Allen Blue, and Chris Yeh. This class features Reid Hoffman interviewing Eric Schmidt, the Executive Chairman of Alphabet Inc. (formerly Google).  Learn more about your ad choices. Visit megaphone.fm/adchoices

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