Fred Wilson talks about why it is difficult for big company managers to become successful startup CEOs. To succeed startups need to “bet the company every day.” He suggests that most Fortune 500 managers are taught to mitigate risks and manage the downside. He contends that startups don’t have a downside that is worth protecting.
Tom Evslin suggests that more Fortune 500 manager should take Fred’s advice and start betting their companies too. He gives examples of companies that failed to bet the company like AT&T and Detroit automakers as well as examples of those who did like Apple and Microsoft. He sums up:
If youâ€™re a CEO â€“ no matter what size your company â€“ ask yourself each morning when you brush your teeth what youâ€™re betting your company on. If the answer is â€œnothingâ€?, it means youâ€™re betting on the status quo without even making that decision explicitly. Very bad idea. Not why you get the big bucks.
Get in the game. Start betting YOUR company everyday!