Launching a New University

John Hennessy, Stanford University

Though the ambitions of those who wish to start a great learning institution are admirable, chances are, says Stanford President John Hennessy, that they lack the financial resources to make it so. Ten billion dollars is mere seed funding, says Hennessy. If one still decides to pursue the business of academia, he suggests that the rollout is slow. Start small and excellent, with a single great program, and scale gradually. Your organization will go farther than if you begin both broad and thin. If your institution is quality, it will attract top talent from across the globe, promoting its own future success.