Stanford eCorner

Dr. John Adler, Jr. and John "Trip" Adler III discuss their entrepreneurial experience and evolution as a business leader: For Dr. Adler, he describes his bumpy course in developing his biotechnology company, Accuray Incorporated; for his son Trip, he emphasizes the persistence and luck in developing Scribd, a social publishing site. Despite building companies in different fields, the two offer the same central advice necessary in building a successful company: trust yourself, have common sense, and there are no rules.

What can extreme surfing and World of Warcraft teach the enterprise? Independent Co-Chairman of the Deloitte Center for the Edge and former Xerox PARC Chief Scientist John Seely Brown holds them as examples of the power of frequent benchmarking and full industry info-share. He also uses them to show how the core ecosystem can be made stronger by sharing knowledge gathered from learning on the edge. In addition, Seely Brown touches upon his theory of a monumental economic shift from a push to a pull economy as outlaid in his 2010 book, The Power of Pull: How Small Moves, Smartly Made, Can Set Big Things in Motion.

Don't set sail without thinking first: this sage advice sums up risk analysis for Elisabeth Paté-Cornell, department chair of Management Science and Engineering at Stanford University. She explains that risk assessment involves the study of scenarios, probabilities, and consequences. A risk analyst uses logic and statistics to makes sense of uncertainties and provides possible solutions to derail disaster. While some events force quick thinking, most can be avoided with a little forethought. After all, she simplifies: risk analysis isn't just nuclear reactors, it's also real life.

Josh Makower, CEO of ExploraMed, speaks briefly about his experience working in medicine and technology. Dr. Makower also discusses at length the numerous political, financial, and regulatory hurdles against future medical innovation, and calls for audience involvement in the tangled web of healthcare, patents, and insurance reimbursement.

While Plan A may begin the backbone on which an entrepreneurial idea is hinged, succinct data gathering and constant market evaluation more often lead to profit with the next idea in line. The tech sector breeds innovation, says KPCB partner and frequent speaker Randy Komisar, and to do so it is required to accept the numerous fits and starts of the start-up.

Serial entrepreneur Marc Andreessen offers the Stanford audience a rare opportunity to pose open questions. Topics addressed include everything from the state of VC and the stock market, to Facebook's market dominance, to the rebirth of consumer electronics. In addition, Andreessen offers ground rules for the start-up, including tips on attracting top talent.

Jonathan Boutelle and Rashmi Sinha, founders of the presentation-sharing site SlideShare, describe the entrepreneurial process as a series of pivots. Boutelle explains it's not just a jump, but an evolving growth of stages that leads to an idea that can start a business. From there, Sinha says that focused execution keeps the vision moving forward. By continually measuring the activity, they both believe that entrepreneurs can better recognize the growth stages of their company.

Alec Ross, Senior Advisor for Innovation in the Office of Secretary of State and Co-founder of global non-profit One Economy, discusses in detail innovation policy and how it can change national diplomacy. In addition, Ross offers advice to global innovators, stressing quality time management, effective hiring practices, the mutual benefits of mentoring, and assertive risk practices.

Accenture's Liz Tinkham interviews salesforce.com's Polly Sumner about entrepreneurship that occurs in both large and small companies. They both agree that innovation and risk-taking occur in any-sized company where the culture emphasizes "no idea is a dumb idea." Sumner advises young entrepreneurs to not fear risk: every failure teaches you a valuable lesson, and once learned, success is that much sweeter.

People, passion, perseverance. Former AOL CEO and Chairman Steve Case describes these words as the bedrock of successful entrepreneurship. Heading into what may be a "golden era of entrepreneurship," he says that he relies on the "three p's" as assessment tools to help guide his direction and goals. When all of the three parts are in balance, an entrepreneur can achieve success like that of AOL; when they aren't, you get the failure of the AOL-Time Warner merger.