Steve Vassallo, general partner at Foundation Capital, discusses how he applied the basic principles of design thinking years ago in order to incorporate the many features of an office phone in a simpler way. Then a designer at the renowned firm IDEO, Vassallo says the process of need-finding and prototyping led to a user-interface hierarchy that lives on in today's smartphones.

Find simplicity on the other side of complexity.

Foundation Capital's Steve Vassallo, author of "The Way to Design," advises those launching into their career to be patient and avoid feeling entitled. The designer-turned-venture capitalist repeats a phrase his father used to say, "take out the garbage," as a reminder to be humble and do even menial work to the best of your ability.