Turning Vision into Action

Tim Draper

09.26.19

Is this ship sailing in the right direction? Tim Draper talks about the balance of managing startups he invests in, shifting your vision and mission over time, and his single biggest rule for creating an environment that fosters success.

Summary:

Is this ship sailing in the right direction? Tim Draper talks about the balance of managing startups he invests in, shifting your vision and mission over time, and his single biggest rule for creating an environment that fosters success.

How does Tim Draper help guide startups he invests in? “Tell them everything.” Everybody needs to know the big vision, but let them figure out if it’s where they want to go and how to get there.

Tim_Draper

Tim Draper

I have found a lot of different ways to keep them engaged. One is tell them everything. Tell them what the plan is, where are we going? where is this ship headed? Is it a direction they all want to go to, you know, are we going to a beautiful island or are we going to a big city? And how are we going to get there? And what are we going to do once we are there? Have them understand where we are going and then let them figure out how we are going to get there. I'll try to do whatever I can but then if they're not motivated to find the way, then they're never really gonna accomplish anything for themselves or for the business.

I find that the one thing I have avoided is micromanaging. I don't micromanage people because I think when left to themselves they're going to have a better understanding of their environment and what they can do to make that environment more successful. I believe that taking the environment that they want to become successful, and bringing it to a major goal, is a great way to operate.

Thuy

You're empowering them to take action on their own. Once they have the vision, you're empowering them.
Tim_Draper

Tim Draper

You want to give them the vision, you wanna give them here's our vision, here's the mission. What do we need to do and it's amazing what they come up with. I mean some of the ideas will change the vision, you know, the vision will be moved and I have to be flexible enough to say okay, I'm willing to move the vision.