Kleiner Perkins Caufield & Byers
Randy Komisar joined Kleiner Perkins Caufield and Byers as a partner in 2005. Several years prior, Komisar partnered with entrepreneurs creating businesses with leading edge technologies.
He was a co-founder of Claris Corporation, he served as CEO for LucasArts Entertainment and Crystal Dynamics, and he's acted as a "virtual CEO" for such companies as WebTV, Mirra, and GlobalGiving. He was a founding Director of TiVo where he remains current chairman of the Nominating and Governance Committee. Earlier, Komisar served as CFO of GO Corporation and as Senior Counsel for Apple Computer, following a private practice in technology law.
Komisar holds a BA in Economics from Brown University and a JD from Harvard Law School. He is a Consulting Professor of Entrepreneurship at Stanford University and author of the best-selling book The Monk and the Riddle, as well as several articles on leadership and entrepreneurship. His most recent book with co-author John Mullins is Getting to Plan B.
Related Links: www.kpcb.com
Last Updated: Thu, Apr 8, 2010
Komisar warns against the concept of a deferred life plan, when people put off what they really want to do for what is expected of them. According to Komisar, this is when you are deferring your sense of excitement and passion for what you really care about. Working hard is not inconsistent with the deferred life plan, he adds, but doing so for a product that you do not have interest in is. 
In conversation with Stanford's Tina Seelig, KPCB's Randy Komisar points out that while customer feedback is a good idea, it should not be the de facto driver for products and solutions. Too often, consumers miss the mark on inventions (such as ATM's and mobile phones) because they can't conceive that they would ever need them. The smart entrepreneur, says Komisar, asks questions to determine if there is a market need, rather than testing a first-to-market product itself.
A specialist in early-stage ventures, Randy Komisar of KPCB describes a typical work day for himself, and offers insight into they type of contact he likes to keep with his vested interests. Of the ten CEO's he works with in a cycle, a usual day will start by touching base with three or four of them. He spends some time reviewing new potential projects; checking references, etc. And he notes that he spends a tremendous amount of time reading up on various market sectors and verticals.
"Because they can make the dog jump, [entrepreneurs] somehow assume that everyone wants a jumping dog," says KPCB partner Randy Komisar. His point? Too often, start-ups launch a solution without thinking through the problem that it solves. Without necessitating spending a nickel, an entrepreneur's first step should be plotting how the market has evolved to allow for a next-step product or service. As an example, he cites Apple's launch of the iPod on the backs of the Sony Walkman and Napster. Nothing is unique or truly inventive, says Komisar. The trick is finding the worn path that will allow your venture to dig in its heels.
Can one truly develop a business plan before having a product or a customer in-hand? Not very successfully, contends KPCB partner Randy Komisar. In this clip, Komisar discusses the premise for his book, "Getting to Plan B", in which he points out how often the theory of a start-up succumbs to its execution. Komisar goes on to point out that thinking of Plan B as part of the process can change the way we think about constructing and managing the start-up.
Randy Komisar, a partner at Kleiner Perkins Caufield & Byers and author of the best-selling book The Monk and the Riddle, talks about how innovation occurs at Kleiner Perkins. Instead of giving projects a thumbs up or thumbs down, the firm uses a set of filters to review and improve these projects. Through this process of iteration, innovation and problem solving occurs between investors and entrepreneurs, he notes. 
Komisar believes there is evidence of new bubbles occurring in certain industries today, specifically in Web 2.0. The good news is that there are also many other industries, such as those in energy, life sciences, and healthcare, where bubbles are absent. He also gives advice on whether companies should seek institutional financing or professional investments. 
Komisar explains that there is no balanced life in being a CEO. It is a 24/7 job and is all-consuming. After being a CEO, Komisar decided to cut back and bring his life back into balance so he could have time for all the things he enjoyed. It is essential to stay ethical and never put yourself in a situation where you can't say no and cut back. Maintaining a balanced life is a dynamic quest and changes as your priorities change. People who know and respect you can be a powerful resource in helping you find this balance.
The early days of the Web were focused around email and one-on-one communication. The Web then evolved into a valuable resource for information. Later, it became a media hub, and today it runs on social networking powered by people. In this thoughtful clip, KPCB's Randy Komisar ponders not only the evolution of Internet content and the types of businesses that it spurs, but questions the Web's next great phase. In his crystal ball, tools that help users make sense of the myriad content available - and tools that help alleviate our need to pay attention - will be the next almighty miracle of digital life.
Dunn and Komisar give advice to graduating students from Stanford University to never stop learning as well as spend a considerable amount of time to figure out the things one is truly passionate about.
Dunn and Komisar share their philosophies about how much to plan one's careers versus creating and taking opportunities as they present themselves.
Komisar explains that there are different types of entrepreneurs for various stages in a company using an analogy from his book, The Monk and the Riddle. Early stage entrepreneurs, like a bloodhound, seek out resources to get the company off the ground. To grow the company, an operation leader is needed, like a husky that is willing to pull the sled and get the company to a public market liquidity. If the company ever faces difficult situations, a rescuer, like a St. Bernard, tries to save it. 
Randy Komisar of KPCB and Debra Dunn, previously of HP, discuss entrepreneurship during the Entrepreneurial Thought Leader lecture series.
According to Komisar, creating visibility and driving sales are two different tasks. Marketing channels are pretty well honed, but driving sales requires more attention. As an entrepreneur, you play a large part in creating the demand for your product and Google is not going to do that for you. You have to convince people that your product will save them money, he says.
Komisar talks about his transition from teaching at Stanford to getting into the structured environment of venture capital firms. He discusses the things he found appealing about his job as a partner at Kleiner Perkins Caufield and Byers.
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. 
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. 
Dunn discusses her foray into the business world and why she decided to work at Hewlett Packard. She describes how the values of the company strongly resonate with her and the company has provided her with many opportunitites.
Instead of thinking about the passion, expalins Komisar, free yourself to think of a portfolio of passions. Marry this portfolio with the opportunities in front of you, he says. Think of it as a quest towards which you are moving in the right direction, he adds.
A basic skill set covering finance, organization, transactions, strategy, and business models can be taught successfully, says Komisar. These skills are useful for engineers because they provide context about the personality and character of entrepreneurship. However, according to Komisar, having a character suited for entrepreneurship is something that cannot be taught, as being comfortable with uncertainty and ambiguity is something you either have or you don't.