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The Monk and the Riddle: The Education of a Silicon Valley Entrepreneur
This book describes how one Silicon Valley insider has blazed a path of professional - and personal - success playing the game by his own rules. Silicon Valley is filled with garage-to-riches stories and hot young entrepreneurs with big ideas. Yet even in this place where the exceptional is common, Randy Komisar is a breed apart. Currently a "Virtual CEO" who provides "leadership on demand" for several renowned companies, Komisar was recently described by the "Washington Post" as a "combined professional mentor, minister without portfolio, in-your-face investor, trouble-shooter and door opener." But even more interesting than what he does is how - and why - he does it. Komisar has found a way to turn an ambitious and challenging work life into his life's work."The Monk and the Riddle" is unlike any other business book you've read. Transcending the typical "leadership book" model of lists and frameworks on how to succeed in business, "The Monk and the Riddle" is instead a lively and humorous narrative about the education of a unique Valley insider. It unfolds over the course of an ongoing dialogue between Komisar and would-be entrepreneurs, "Lenny and Allison," and is at once a portal into the inner workings of Silicon Valley - from how startups get launched to how venture capitalists do their deals to how plans get prepared and pitched - and a deeply personal account of how one mover and shaker found fulfillment, not in work's rewards but in work itself.As the narrative follows Komisar through meetings with venture capitalists and eager entrepreneurs, and as his conversations with Lenny evolve toward a resolution, "The Monk and the Riddle" imparts invaluable lessons about the differences between leadership and management and passion and drive, and about the meaning of professional and personal success. "When all is said and done," writes Komisar, "the journey is the reward."
192 pages, Hardcover
First published March 1, 2000
About the author
Randy Komisar
10 books39 followersRandy Komisar joined Kleiner Perkins in 2005 and focuses on early-stage investing.
Previously, he was a co-founder of Claris Corp., served as CEO for LucasArts Entertainment and Crystal Dynamics, and acted as “virtual CEO” for such companies as WebTV and GlobalGiving. Randy also served as CFO of GO Corp. and as senior counsel for Apple Computer, following a private practice in technology law.
Randy is a founding director of TiVo and serves on the Roadtrip Nation Advisory Board and Orrick’s Women’s Leadership Board. He is the author of the best-selling book The Monk and the Riddle, as well as several articles on leadership and entrepreneurship. He is also the co-author of Straight Talk for Startups, the insider best practices for entrepreneurial success, Getting to Plan B, on managing innovation, and I F**king Love that Company, on building consumer brands. Randy frequently speaks in the United States and abroad on such topics. Randy holds a B.A. degree in economics from Brown University and a J.D. from Harvard Law School.
Previously, he was a co-founder of Claris Corp., served as CEO for LucasArts Entertainment and Crystal Dynamics, and acted as “virtual CEO” for such companies as WebTV and GlobalGiving. Randy also served as CFO of GO Corp. and as senior counsel for Apple Computer, following a private practice in technology law.
Randy is a founding director of TiVo and serves on the Roadtrip Nation Advisory Board and Orrick’s Women’s Leadership Board. He is the author of the best-selling book The Monk and the Riddle, as well as several articles on leadership and entrepreneurship. He is also the co-author of Straight Talk for Startups, the insider best practices for entrepreneurial success, Getting to Plan B, on managing innovation, and I F**king Love that Company, on building consumer brands. Randy frequently speaks in the United States and abroad on such topics. Randy holds a B.A. degree in economics from Brown University and a J.D. from Harvard Law School.
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April 7, 2013
What I enjoyed most about this book is that its point is simple, yet important: people succeed in Silicon Valley / Tech because they are committed to a goal above and beyond making money.
I work in the tech industry and we're always hearing about people we know or loosely know making big money by having their companies acquired. But I always ask myself: is that really the end goal? Would you really have sacrificed all of those nights, weekends, blood, sweat, tears, relationships to this company if you thought it would end in a large check and a few years at whatever monolith purchased your little baby?
I think that, for the most part at least, the answer is no. The most successful entrepreneurs are truly committed to a future vision/product/idea that is much much larger than making a few million dollars. That money is real but so few people make it to that point that they need to have a larger motivation to even get started with a company in the first place. Randy Komisar's thesis seems to be that there are various metrics to know if a business might succeed, but ultimately it is the people behind the business that make it a success or not. And those people are qualified based on their "passion" for the business, not their degrees etc.
As an extension of this point, you can make the larger argument that having a "deferred life plan", as Komisar puts it, is crazy. People who go into something they don't love but hope will make them money do it for a real reason: they want to do something else later. I've never understood the types of people who live year after year in a miserable job just to make money and do something cool later. Komisar's point about not putting life off was relatively obvious, but I think it's one more of us need to hear.
Another note on the book is that it was written in 2000 but is surprisingly non-dated. Some of the fake internet businesses he mentions even seem like good ideas to me now!
Favorite bits:
"I suppose it's a privilege of youth to be admired and admonished by the wise guys who have gone before." -p. 19
"VCs, I explained, want to know three basic things: Is it a big market? Can your product or service win over and defend a large share of that market? Can your team do the job?" - p.30
"Don't misunderstand my skepticism. Sacrifice and compromise are integral parts of any life, even a life well lived. But why not do hard work because it is meaningful, not simply to get it over with in order to move on to the next thing?" -p.83
"Passion pulls your toward something you cannot resist. Drive pushes you toward something you feel compelled or obligated to do. If you know nothing about yourself, you can't tell the difference. Once you gain a modicum of self-knowledge, you can express your passion. But it isn't just the desire to achieve some goal or payoff, and it's not about quotas or bonuses or cashing out. It's not about jumping through someone else's hoops. That's drive." -p. 83-84
"Silicon Valley veterans share a tacit understanding that what a startup needs isn't once CEO, but three–each at successive stages of the startup's development. GIven my deep regard for man's best friend, I Tend to think of each in terms of best of breed. The first CEO is 'the Retriever.' From the muck she must assemble the core team, the product or service, and the market direction–all around a coherent vision. She must also raise the money and secure crucial early customers and partners. She is prized for her tenacity and inventiveness. The second CEO is 'the Bloodhound.' He must sniff out a trail–find the market and prove the business. He needs to build an operating team and establish a market beachhead. He is prized for his keen sense of direction and company-building skills. The third CEO is 'the Husky.' She must lead the team, pulling an operating company that grows heavier by the day with people and public company responsibilities. She is prized for he constancy and scalability. None of these, to me, is top dof. All are equal in importance. just different in skills and temperaments." -p. 130
"And then there is the most dangerous risk of all–the risk of spending your life not doing what you want on the bet you can buy yourself the freedom to do it later." -p. 154
I work in the tech industry and we're always hearing about people we know or loosely know making big money by having their companies acquired. But I always ask myself: is that really the end goal? Would you really have sacrificed all of those nights, weekends, blood, sweat, tears, relationships to this company if you thought it would end in a large check and a few years at whatever monolith purchased your little baby?
I think that, for the most part at least, the answer is no. The most successful entrepreneurs are truly committed to a future vision/product/idea that is much much larger than making a few million dollars. That money is real but so few people make it to that point that they need to have a larger motivation to even get started with a company in the first place. Randy Komisar's thesis seems to be that there are various metrics to know if a business might succeed, but ultimately it is the people behind the business that make it a success or not. And those people are qualified based on their "passion" for the business, not their degrees etc.
As an extension of this point, you can make the larger argument that having a "deferred life plan", as Komisar puts it, is crazy. People who go into something they don't love but hope will make them money do it for a real reason: they want to do something else later. I've never understood the types of people who live year after year in a miserable job just to make money and do something cool later. Komisar's point about not putting life off was relatively obvious, but I think it's one more of us need to hear.
Another note on the book is that it was written in 2000 but is surprisingly non-dated. Some of the fake internet businesses he mentions even seem like good ideas to me now!
Favorite bits:
"I suppose it's a privilege of youth to be admired and admonished by the wise guys who have gone before." -p. 19
"VCs, I explained, want to know three basic things: Is it a big market? Can your product or service win over and defend a large share of that market? Can your team do the job?" - p.30
"Don't misunderstand my skepticism. Sacrifice and compromise are integral parts of any life, even a life well lived. But why not do hard work because it is meaningful, not simply to get it over with in order to move on to the next thing?" -p.83
"Passion pulls your toward something you cannot resist. Drive pushes you toward something you feel compelled or obligated to do. If you know nothing about yourself, you can't tell the difference. Once you gain a modicum of self-knowledge, you can express your passion. But it isn't just the desire to achieve some goal or payoff, and it's not about quotas or bonuses or cashing out. It's not about jumping through someone else's hoops. That's drive." -p. 83-84
"Silicon Valley veterans share a tacit understanding that what a startup needs isn't once CEO, but three–each at successive stages of the startup's development. GIven my deep regard for man's best friend, I Tend to think of each in terms of best of breed. The first CEO is 'the Retriever.' From the muck she must assemble the core team, the product or service, and the market direction–all around a coherent vision. She must also raise the money and secure crucial early customers and partners. She is prized for her tenacity and inventiveness. The second CEO is 'the Bloodhound.' He must sniff out a trail–find the market and prove the business. He needs to build an operating team and establish a market beachhead. He is prized for his keen sense of direction and company-building skills. The third CEO is 'the Husky.' She must lead the team, pulling an operating company that grows heavier by the day with people and public company responsibilities. She is prized for he constancy and scalability. None of these, to me, is top dof. All are equal in importance. just different in skills and temperaments." -p. 130
"And then there is the most dangerous risk of all–the risk of spending your life not doing what you want on the bet you can buy yourself the freedom to do it later." -p. 154
November 10, 2012
How This Resonates With Me:
The author’s opinion of the interdependent relationship of work and life is something I believe in wholeheartedly. Life is brief, and it’s wasteful to spend time doing things that do not align with your passions or gifts. The brevity of life is a lesson my friend Shannon dealt me firsthand and I try to remind myself of this everyday.
Related to this, the author challenges a societal norm he calls The Deferred Life Plan. It’s a concept I always had a hard time buying into as well, but feel more comfortable confronting that belief after reading this book.
There’s a point in the book where Komisar mentions that gaining self-knowledge is so important when honing in on your passions and gifts. This is something that really resonates with me as I travel, learn to follow my intuition, and make decisions based on the options which excite me the most. The experience of my current trip coupled with the lessons in this book reaffirm my belief that taking a break from working in one’s life to work on it is so important.
Criticism:
This book was originally written in 2000, so the references to TiVo and WebTV feel a little dated. And given the speed of technology, twelve years is like a century in tech years. But it’s surprisingly not as archaic as I expected; although the names have changed, the lessons are timeless. Also, the writing isn’t very sophisticated and the way the story ends feels a little Disney-fied. It’s tough to be too critical of this though because the book delivers its lessons clearly.
Twelve Take-Aways:
1. Entrepreneurs and immigrants have a lot in common.
Using the example of his own grandparents immigrating to America from Russia and Germany, Komisar identifies an interesting similarity between these two groups:
"I see a common gene among immigrants and entrepreneurs who strike out from the pack to pursue their dreams...some of these risk takers...have a profound impact on what happens in the world. They place bets on the future, often against fantastic odds."
2. Venture capitalists and their role in the startup economy can be demystified.
There are several scenes in the book depicting a discussion between entrepreneur and venture capitalist, and occasionally some passages that look into the mind of a VC.
"Venture Capitalists want to know three basic things when investing in a business. Is it a big market? Can your product or service win over and defend a large share of the market? Can your team do the job?"
3. There should be a deeper purpose driving you to start a business besides money.
A business shouldn’t be started as a means to an end. A business should be built for the purpose of building it and making a positive impact, not just for the success and reward that may come. Put another way, “the journey is the reward.”
"There must be something more, a purpose that will sustain you when things look bleakest. Something worthy of the immense time and energy you will spend on this, even if it fails."
4. Business, more so than any other institution, has the potential for creative expression and positive change.
"The rules of business are like the laws of physics, neither inherently good nor evil, to be applied as you may. You decide whether your business is constructive or destructive. I help people understand this and express themselves in what they do, trying to make a difference through business."
5. Most of us have been living life according to the “Deferred Life Plan”. T
here are two steps in life according to this plan. Step one: Do what you have to do. Then, eventually – Step two: Do what you want to do. This concept implies that we should spend our life working hard doing something uninspiring so we can retire one day and then devote our time to our passion. The problem is our life’s timeline is unknown. We may never reach “one day.”
"The Deferred Life Plan also dictates that we divorce who we are and what we care about from what we do in that first step...we hope and suppose that when we get [to the second step], we will be able to resurrect our passions on our own terms. If we get there."
6. There’s a difference between a Big Idea and a Business Model.
Komisar brings this point home by discussing Apple’s tumultuous times under Sculley, where the CEO began operating Apple to a business model rather than a big idea, the way Jobs did (and eventually would re-do).
"Business conditions are forever changing. You need to reconsider your strategies and business models constantly and adjust them when necessary. But the big idea that your company pursues is the touchstone for these refinements."
7. Business is about people.
This is a concept that Chris Guillebeau hammers home in The $100 Startup as well.
"Business...is about nothing if not people. First, the people you serve, your market. Then the team you build, your employees. Finally, your many business partners and associates. Sever the chain of values between leadership and the people translating strategy into products and services for your customers, and you will destroy your foundation for long-term success."
8. Your Passion is not the same as your Drive.
This is an interesting distinction I had never considered before. In reference to the steps in the Deferred Life Plan, drive is what you experience in the first step, and passion is what you hope to experience after you’ve put in your time.
"Passion pulls you toward something you cannot resist. Drive pushes you toward something you feel compelled or obligated to do."
9. It requires true self-knowledge to understand your passion.
"If you know nothing about yourself, you can't tell the difference [between passion and drive]. Once you gain a modicum of self-knowledge, you can express your passion."
10. If management is a science, leadership is an art.
"[Management]'s purpose is to produce the desired results on time and on budget. It complements and supports but cannot do without leadership, in which character and vision combine to empower someone to venture into uncertainty."
"I found that the art wasn't in getting the numbers to foot, or figuring out a clever way to move something down the assembly line. It was in getting somebody else to do that and to do it better than I could ever do; in encouraging people to exceed their own expectations; in inspiring people to be great; and in getting them to do it all together, in harmony. That was the high art."
11. Personal risks need to be evaluated with just as much scrutiny as business risks.
Personal risks include the risk of working with people you don’t respect, the risk of working for a company whose values don’t align with your own, the risk of doing something you don’t care about, or the risk of doing something that does not express who you are.
"And then there is the most dangerous risk of all -- the risk of spending your life not doing what you want on the bet you can buy yourself the freedom to do it later."
12. The value of time > the value of money.
By valuing your time more than you value money, you’re able to appreciate each moment and live a more fulfilling existence spending your time doing something worthwhile. The alternative notion is thinking money can buy you the happiness you’ve missed out while you were focused on acquiring things. The problem is you don’t know when it will be too late.
"Marrying our values and passions to the energy we invest in work...increases the significance of each moment. Consider your budget of time in terms of how much you are willing to allocate to acquiring things versus how much you are willing to devote to people, relationships, family, health, personal growth, and the other essential components of a high-quality life."
The author’s opinion of the interdependent relationship of work and life is something I believe in wholeheartedly. Life is brief, and it’s wasteful to spend time doing things that do not align with your passions or gifts. The brevity of life is a lesson my friend Shannon dealt me firsthand and I try to remind myself of this everyday.
Related to this, the author challenges a societal norm he calls The Deferred Life Plan. It’s a concept I always had a hard time buying into as well, but feel more comfortable confronting that belief after reading this book.
There’s a point in the book where Komisar mentions that gaining self-knowledge is so important when honing in on your passions and gifts. This is something that really resonates with me as I travel, learn to follow my intuition, and make decisions based on the options which excite me the most. The experience of my current trip coupled with the lessons in this book reaffirm my belief that taking a break from working in one’s life to work on it is so important.
Criticism:
This book was originally written in 2000, so the references to TiVo and WebTV feel a little dated. And given the speed of technology, twelve years is like a century in tech years. But it’s surprisingly not as archaic as I expected; although the names have changed, the lessons are timeless. Also, the writing isn’t very sophisticated and the way the story ends feels a little Disney-fied. It’s tough to be too critical of this though because the book delivers its lessons clearly.
Twelve Take-Aways:
1. Entrepreneurs and immigrants have a lot in common.
Using the example of his own grandparents immigrating to America from Russia and Germany, Komisar identifies an interesting similarity between these two groups:
"I see a common gene among immigrants and entrepreneurs who strike out from the pack to pursue their dreams...some of these risk takers...have a profound impact on what happens in the world. They place bets on the future, often against fantastic odds."
2. Venture capitalists and their role in the startup economy can be demystified.
There are several scenes in the book depicting a discussion between entrepreneur and venture capitalist, and occasionally some passages that look into the mind of a VC.
"Venture Capitalists want to know three basic things when investing in a business. Is it a big market? Can your product or service win over and defend a large share of the market? Can your team do the job?"
3. There should be a deeper purpose driving you to start a business besides money.
A business shouldn’t be started as a means to an end. A business should be built for the purpose of building it and making a positive impact, not just for the success and reward that may come. Put another way, “the journey is the reward.”
"There must be something more, a purpose that will sustain you when things look bleakest. Something worthy of the immense time and energy you will spend on this, even if it fails."
4. Business, more so than any other institution, has the potential for creative expression and positive change.
"The rules of business are like the laws of physics, neither inherently good nor evil, to be applied as you may. You decide whether your business is constructive or destructive. I help people understand this and express themselves in what they do, trying to make a difference through business."
5. Most of us have been living life according to the “Deferred Life Plan”. T
here are two steps in life according to this plan. Step one: Do what you have to do. Then, eventually – Step two: Do what you want to do. This concept implies that we should spend our life working hard doing something uninspiring so we can retire one day and then devote our time to our passion. The problem is our life’s timeline is unknown. We may never reach “one day.”
"The Deferred Life Plan also dictates that we divorce who we are and what we care about from what we do in that first step...we hope and suppose that when we get [to the second step], we will be able to resurrect our passions on our own terms. If we get there."
6. There’s a difference between a Big Idea and a Business Model.
Komisar brings this point home by discussing Apple’s tumultuous times under Sculley, where the CEO began operating Apple to a business model rather than a big idea, the way Jobs did (and eventually would re-do).
"Business conditions are forever changing. You need to reconsider your strategies and business models constantly and adjust them when necessary. But the big idea that your company pursues is the touchstone for these refinements."
7. Business is about people.
This is a concept that Chris Guillebeau hammers home in The $100 Startup as well.
"Business...is about nothing if not people. First, the people you serve, your market. Then the team you build, your employees. Finally, your many business partners and associates. Sever the chain of values between leadership and the people translating strategy into products and services for your customers, and you will destroy your foundation for long-term success."
8. Your Passion is not the same as your Drive.
This is an interesting distinction I had never considered before. In reference to the steps in the Deferred Life Plan, drive is what you experience in the first step, and passion is what you hope to experience after you’ve put in your time.
"Passion pulls you toward something you cannot resist. Drive pushes you toward something you feel compelled or obligated to do."
9. It requires true self-knowledge to understand your passion.
"If you know nothing about yourself, you can't tell the difference [between passion and drive]. Once you gain a modicum of self-knowledge, you can express your passion."
10. If management is a science, leadership is an art.
"[Management]'s purpose is to produce the desired results on time and on budget. It complements and supports but cannot do without leadership, in which character and vision combine to empower someone to venture into uncertainty."
"I found that the art wasn't in getting the numbers to foot, or figuring out a clever way to move something down the assembly line. It was in getting somebody else to do that and to do it better than I could ever do; in encouraging people to exceed their own expectations; in inspiring people to be great; and in getting them to do it all together, in harmony. That was the high art."
11. Personal risks need to be evaluated with just as much scrutiny as business risks.
Personal risks include the risk of working with people you don’t respect, the risk of working for a company whose values don’t align with your own, the risk of doing something you don’t care about, or the risk of doing something that does not express who you are.
"And then there is the most dangerous risk of all -- the risk of spending your life not doing what you want on the bet you can buy yourself the freedom to do it later."
12. The value of time > the value of money.
By valuing your time more than you value money, you’re able to appreciate each moment and live a more fulfilling existence spending your time doing something worthwhile. The alternative notion is thinking money can buy you the happiness you’ve missed out while you were focused on acquiring things. The problem is you don’t know when it will be too late.
"Marrying our values and passions to the energy we invest in work...increases the significance of each moment. Consider your budget of time in terms of how much you are willing to allocate to acquiring things versus how much you are willing to devote to people, relationships, family, health, personal growth, and the other essential components of a high-quality life."
May 16, 2017
If you’re a first-time entrepreneur looking for ways to fund your business but are unsure how to approach potential Venture Capitalists successfully, this book would have to be on your reading list. Its key “Do’s and Don’ts before, during and after pitching to VCs” are practical and illustrated in entertaining detail through Lenny’s story – an entrepreneur in his twenties who’s got some solid lessons to learn before he’s able to generate the much-needed funds to get his business idea off the ground.
While Komisar’s book plays it safe in terms of the content he covers (you will find yourself thinking: “Yeah, I’ve heard that before.”), the basics of long-term business success coupled with personal fulfillment are as valid as ever. And they are worth being summed up again because – hand to heart – most of us think we’ve got it all figured out when in fact a refresher won’t hurt:
1: Time vs. Money. Make work pay you not only in cash, but also in experiences, satisfaction, joy and growth. Though they may not pay the rent, they do provide their own rewards and are durable in the face of adversity, as Komisar rightly points out.
2: People first. Invest your time in building relationships, growing your network, getting to know your customers’ needs and wants, your employees’ motivations and fears. Focus on what you have in common, not on what differentiates you. The reward for your engagement with others is the kind of trust that takes your business to the next stage and helps you navigate through tough times with more confidence.
3: Risk is part of the equation. Go all in and take a risk with your business idea, your talent, your commitment, your passion. Promote the big picture, not just a stable revenue forecast when pitching to potential VCs. Because by aiming at financial security alone, you will inevitably find yourself on the path to mediocrity. And mediocrity has never helped shape the world (or attracted much funding).
4: Drive vs. Passion aka The Deferred Life Plan. What drives you to get a job done isn’t necessarily the same thing you’re passionate about. Yet, most people are sold on an idea that Komisar calls the Deferred Life Plan: Work now, live later. But who’s to say that you can’t pay the mortgage, the kids’ tuition, the big holiday overseas or whatever else you desire with a career/business that expresses who you are and what’s important to you today? There’s no need to separate your present from your future – “Do what you have to do” and “Do what you want to do” can go hand in hand if you’re courageous and determined enough to make it happen.
5: Key questions to answer. If you want to successfully secure funds or business partners, there are several questions you need to answer for yourself:
The WHY before the WHAT.
* Why are you doing it?
* What’s important to you?
* What do you care about?
* And how can you express this in your business?
Your Product/Service.
* Is it a big market?
* Can your product/service win over and defend a large share of that market?
* Can your team do the job? *see below
* Will your product/service change the way the world operates?
* Will it change people’s lives in a meaningful way?
* What’s your Five-Year-Plan?
* What’s your Unique Selling Point, and how do you stay competitive?
* How will people find you when they need you?
* How to you establish your brand and a presence?
Key skills of you and your team members.
* Be skilled in your functional area(s)
* Be flexible and capable of learning quickly
* Be intelligent and tireless
* Be able to course-correct as you go
* Be comfortable with uncertainty and change, thrive in chaos
If you can’t present solid answers to any of the above, VCs, business angels and the like will be less inclined to collaborate with you. As for Lenny, he was lucky because Randy Komisar saw the potential in him and his idea – but you wouldn’t want to leave the success of your pitch to luck, would you?
While Komisar’s book plays it safe in terms of the content he covers (you will find yourself thinking: “Yeah, I’ve heard that before.”), the basics of long-term business success coupled with personal fulfillment are as valid as ever. And they are worth being summed up again because – hand to heart – most of us think we’ve got it all figured out when in fact a refresher won’t hurt:
1: Time vs. Money. Make work pay you not only in cash, but also in experiences, satisfaction, joy and growth. Though they may not pay the rent, they do provide their own rewards and are durable in the face of adversity, as Komisar rightly points out.
2: People first. Invest your time in building relationships, growing your network, getting to know your customers’ needs and wants, your employees’ motivations and fears. Focus on what you have in common, not on what differentiates you. The reward for your engagement with others is the kind of trust that takes your business to the next stage and helps you navigate through tough times with more confidence.
3: Risk is part of the equation. Go all in and take a risk with your business idea, your talent, your commitment, your passion. Promote the big picture, not just a stable revenue forecast when pitching to potential VCs. Because by aiming at financial security alone, you will inevitably find yourself on the path to mediocrity. And mediocrity has never helped shape the world (or attracted much funding).
4: Drive vs. Passion aka The Deferred Life Plan. What drives you to get a job done isn’t necessarily the same thing you’re passionate about. Yet, most people are sold on an idea that Komisar calls the Deferred Life Plan: Work now, live later. But who’s to say that you can’t pay the mortgage, the kids’ tuition, the big holiday overseas or whatever else you desire with a career/business that expresses who you are and what’s important to you today? There’s no need to separate your present from your future – “Do what you have to do” and “Do what you want to do” can go hand in hand if you’re courageous and determined enough to make it happen.
5: Key questions to answer. If you want to successfully secure funds or business partners, there are several questions you need to answer for yourself:
The WHY before the WHAT.
* Why are you doing it?
* What’s important to you?
* What do you care about?
* And how can you express this in your business?
Your Product/Service.
* Is it a big market?
* Can your product/service win over and defend a large share of that market?
* Can your team do the job? *see below
* Will your product/service change the way the world operates?
* Will it change people’s lives in a meaningful way?
* What’s your Five-Year-Plan?
* What’s your Unique Selling Point, and how do you stay competitive?
* How will people find you when they need you?
* How to you establish your brand and a presence?
Key skills of you and your team members.
* Be skilled in your functional area(s)
* Be flexible and capable of learning quickly
* Be intelligent and tireless
* Be able to course-correct as you go
* Be comfortable with uncertainty and change, thrive in chaos
If you can’t present solid answers to any of the above, VCs, business angels and the like will be less inclined to collaborate with you. As for Lenny, he was lucky because Randy Komisar saw the potential in him and his idea – but you wouldn’t want to leave the success of your pitch to luck, would you?
November 26, 2023
Excellent short book about prioritizing our own excellence, which is really all we can control!
“Why not do hard work because it is meaningful, not simply to get it over with in order to move on to the next thing?”
Having a concrete narrative flow alongside the business tips was definitely a fun plus.
“Why not do hard work because it is meaningful, not simply to get it over with in order to move on to the next thing?”
Having a concrete narrative flow alongside the business tips was definitely a fun plus.
January 4, 2013
I teach an entrepreneurship class to law students and assign The Monk and The Riddle to the class. It is a great book for law students to read because it forces them to think about why they are going to law school, what they are hoping to get out of it, what will ultimately make them happy. While that is arguably a sub-theme of the book, I find it the most interesting piece of the conversation with my students.
On the other hand, the bulk of the book is focused on an entrepreneur's quest to get funded. Randy Komisar, the book's author, gets to play Sherpa for this wayward entrepreneur as he makes his way through the process of founding a company and getting funded. While the business upon which the book focuses is somewhat dated (funerals.com), the lessons learned are still relevant and valuable. My students continue to enjoy The Monk, as do I each year as I re-read it before class.
On the other hand, the bulk of the book is focused on an entrepreneur's quest to get funded. Randy Komisar, the book's author, gets to play Sherpa for this wayward entrepreneur as he makes his way through the process of founding a company and getting funded. While the business upon which the book focuses is somewhat dated (funerals.com), the lessons learned are still relevant and valuable. My students continue to enjoy The Monk, as do I each year as I re-read it before class.
July 16, 2008
A good, quick, enjoyable read.
A word of warning: this is a potentially dangerous book. It may make you rethink your priorities in life.
A word of warning: this is a potentially dangerous book. It may make you rethink your priorities in life.
January 20, 2017
Enjoyable read although it didn't tell me anything new, having studied online entrepreneurship, worked in tech start-ups and watched many of the Silicon Valley tech founders on Ted Talks, You Tube etc as part of college study. Maybe I'm too immersed in it but it just seemed to confirm the message any startup founder knows, that there are no 'get rich quick' ideas and if you're in it for the money, get out and find a new idea that you love. Find the 'why' - any start-up that isn't 'love' is a waste of your resources. The customer comes first, your idea must be customer-centric, empathy, what will your company's contribution to the world be etc and other questions to ponder. Having read it, I'm still not sure why it has the name 'The Monk and The Riddle'.... Maybe it was explained in the book but I've forgotten? Quick and enjoyable to read and might inspire if you are mulling over some potential startup ideas!
April 24, 2021
If you get the chance, I'd recommend reading this in one sitting—rather than, as I did, in many short bursts—it's compact enough to do so, and I feel as if doing so would help give the reader a more holistic picture of the tale the author is trying to tell. On that note, I was pleasantly surprised with this work; I normally try to steer clear of books falling within the genre 'self-help', but picked this up on a whim at the recommendation of an entrepreneur I was reading a biography on (if I'm not mistaken, it was Jeff Bezos and The Everything Store: Jeff Bezos and the Age of Amazon). Short, succinct, and direct. Beneath the somewhat dressed up and cliched business aphorisms lie handful of questions, ones that are well-primed to offer insight and foster self understanding.
August 20, 2022
nice book that focuses on the importance of the true meaning behind the purpose of why one would think up a particular start-up and then how venture capitalists would look at how vetted your business idea is before any funding or investing would occur. there is also repeated emphasis on living a rich and meaningful life now instead of deferring the fun until after retirement; i first heard this idea from tim ferriss but in a more expanded version but i think he got the idea from this book.
November 17, 2022
Este livro começa com o "pitch" de um empreendedor (Lenny), a uma das maiores referências do empreenderismo tecnológico nos Estados Unidos, Randy Komisar de Silicon Valley. Ao longo da história, Komisar vai colocando a Lenny várias questões fundamentais, que o ajudam a refletir sobre o que realmente o inspira e motiva. E assim vemos o personagem e o seu negócio evoluirem de algo com um objetivo primariamente lucrativo, para uma "Big Idea" pela qual vale a pena lutar, e que por isso merece o tempo do "agora", e não o "depois", que não sabemos se e como virá.
This entire review has been hidden because of spoilers.
July 22, 2020
To be fair, Komisar had a good message: “spend your life doing something you are passionate about”, rather than “do something to get rich and then ...”
The story he made up/adapted from real life to convey the message is a D- in creative writing. Way too boring.
The story he made up/adapted from real life to convey the message is a D- in creative writing. Way too boring.
January 31, 2023
Well, the title is misleading... there is no monk, or riddle
February 18, 2023
I think this might be the best tech bro book yet in the array I’ve attempted so far. The idea of deferring your life goals for a more profitable present is something I’ll keep in mind more than I have now - and also, keep a constant reminder that my journey doesn’t have to be linear and perfect - it just has to be a capital J journey. Idk if this makes sense at all but wow I love this book
May 12, 2024
This book changed my perspective on my life’s unique journey, how I choose to live it, and what fuels my passion. It’s easy to fall into a monotonous rut in life and that’s a dangerous waste. This book is a great self-check.
Would I read it again? Probably not, but I’m very grateful I read it. I appreciate how frustrated it would make me to not understand its direction until it all came together for its “ah-ha” moments. Worth it!
Would I read it again? Probably not, but I’m very grateful I read it. I appreciate how frustrated it would make me to not understand its direction until it all came together for its “ah-ha” moments. Worth it!
October 6, 2011
Unlike all other business books I've read, this one is mercifully short, focused on one big idea, and told as a story. Aside from that, I could not put the book down because it really appeared in my life at the right time to ask the question what I am passionate about my passion in life. Now I am a almost a full believer in abandoning the "Deferred Life Plan" -- do nonsense now to make money, live later -- except that I don't know what I am deferring. I do also like how subtly the benchmarks for thoroughness, scope, and purpose of business plans are worked into the story. So definitely worth a read. The cons are tired references to attending business meetings in motorcycle gear, buddhism, monks, and hip-ly traveling and associating with "creative" people in college as tokens of creative and fulfilling life. Also, the message is relatively generic so I don't think this book will be reprinted hundred years from now. But then again, it has been reprinted in 2010, ten years since it's original publication. You never really know, I suppose. Thanks to Lloyd Wang for lending me the book.
April 27, 2013
우리의 부모세대와 다르게 우리 세대는 '먹고사니즘'으로부터 그래도 제법 해방이 되었기 때문에, 어떤 일이 내게 돈을 많이 가져다줄지, 혹은 일 자체는 고되더라도 남은 인생(그것이 퇴근 후가 되었든 노년이 되었든)을 편하게 해줄 것인지보다는 내가 어떤 일을 하는 것이 의미가 있을지, 행복할지를 고민하는 것 같다. 감사하게도, 내가 보고 있는 내 주변의 세상은 그런 것 같다.
그럼에도, 우리는 전혀 먹고 사는 문제로부터 해방되지는 않았다. 능력이 있으면서도 고용이 안 되는 친구들이 있고, 불안정한 소득과 삶이 싫어 의치법학대학원으로 진학하는 친구들도 많다. 고용이 된들 행복하냐, 그건 더 큰 문제이다. 설상가상으로 교수님께서는, "너희 세대는 120살까지 살 것이다"라는 악담(?)을 하신다.
이 글에서 글쓴이가 전달하려는 메세지는, 매슬로우의 5단계 욕구 이론에서 4단계까지 만족스럽게 채운 사람들에게는 적합한 얘기들일지 모르겠다는 생각이 들었다. 그냥 적당히 하고 싶은 일만 하며 살아도 *평생* 먹고 살기 위한 최소한의 금전적 여유 혹은 능력이 있는 사람들에게는 사업도 자아실현의 도구일 수 있겠지. 하지만 그건 적어도 내가 살고 있는 세상의 이야기 같지 않아서 거부감이 들었다. 우리 나라에서도 40년 뒤 쯤이면 랜디가 말했던 고민들을 하게 될 수 있으려나.
돈을 위해서 사업을 하면 안 된다는 현실 overlooking하는 글쓴이의오만한 사고관은 둘째치고서라도, 이 책에게 좋은 점수를 줄 수 없는 이유는 내 삶을 아주아주 조금이라도 변화시키거나 보탬이 되지 못했기 때문이다. 하다못해 순간의 감동조차 느끼지 못한 것은 내가 이 책에서 말하는 것들을 받아들일 캐퍼를 갖추지 못했기 때문인지도 모르지.
설령 그렇다해도 뻔한 소리들 같았다.
뭐, 미운 존재는 뭘 해도 미워보이는 그런 편견인지도. ㅎㅎ
(한편 글의 전개 방식 - 스토리텔링 - 은 괜찮았다. 구조를 잘 짠 commencement speech를 듣는 느낌.)
그럼에도, 우리는 전혀 먹고 사는 문제로부터 해방되지는 않았다. 능력이 있으면서도 고용이 안 되는 친구들이 있고, 불안정한 소득과 삶이 싫어 의치법학대학원으로 진학하는 친구들도 많다. 고용이 된들 행복하냐, 그건 더 큰 문제이다. 설상가상으로 교수님께서는, "너희 세대는 120살까지 살 것이다"라는 악담(?)을 하신다.
이 글에서 글쓴이가 전달하려는 메세지는, 매슬로우의 5단계 욕구 이론에서 4단계까지 만족스럽게 채운 사람들에게는 적합한 얘기들일지 모르겠다는 생각이 들었다. 그냥 적당히 하고 싶은 일만 하며 살아도 *평생* 먹고 살기 위한 최소한의 금전적 여유 혹은 능력이 있는 사람들에게는 사업도 자아실현의 도구일 수 있겠지. 하지만 그건 적어도 내가 살고 있는 세상의 이야기 같지 않아서 거부감이 들었다. 우리 나라에서도 40년 뒤 쯤이면 랜디가 말했던 고민들을 하게 될 수 있으려나.
돈을 위해서 사업을 하면 안 된다는 현실 overlooking하는 글쓴이의
설령 그렇다해도 뻔한 소리들 같았다.
뭐, 미운 존재는 뭘 해도 미워보이는 그런 편견인지도. ㅎㅎ
(한편 글의 전개 방식 - 스토리텔링 - 은 괜찮았다. 구조를 잘 짠 commencement speech를 듣는 느낌.)
December 25, 2017
The book is a bit dated as it written before the 2001 dot com implosion. But it really isn't about that era or Silicon Valley even as the story follows a start-up wannabe being guided by the author. It really is about finding a life worth living in the moment and not deferring it until you're too old, tired or sick to enjoy it. There's a great discussion of the difference between passion and drive and which one should be the priority. It's a quick read that should confirm our new found bias towards living a life of purpose in the moment.
Spoiler - he never answers the riddle.
Spoiler - he never answers the riddle.
March 17, 2016
A little misleading, the title and the actual content in the book. A story about a silicon valley ex-VC and how he helps entrepreneurs stay true to themselves as they pursue success. I don't particularly get excited about the premise, but I do like the setting. The low rating is because I wasn't thrilled at the plot and I didn't really believe Komisar. His stories seemed far-fetched and too "perfect." Just seemed contrived and too heavy-handed on the "spiritualism."
July 31, 2010
If you are an entrepreneur or wish to be or even just looking for financial meaning in your life this book is a must read. It is about, as Joseph Campbell said, following your bliss. We all have hopes and dreams and ideas about success: this book is about staying the course.
February 16, 2021
Fantastic book about pursuing ones passion and growing a successful technology company. I enjoyed the authors writing style of the story being told from the eyes of the narrator/mentor. It was so valuable I listened to it twice back to back. Here are my notes:
The experience itself is the end
Business is tough tenacity and endurance are the main requirements. Money cannot be overwhelming objective or endurance will wane.
The things that matter to us personally
Passions and values family relationships health personal growth
Live life fully now don't try to buy later
Monk - Experience satisfaction joy
Following your passions won’t make you rich but it won’t hurt either
Life is too short to spend chasing allusive riches
Think holistically about career
Ideas into valuable enterprises that can change the world
Country Butan gross national happiness
No suits in silicon valley
Everyone wants to be the next amazon don't be too commonplace during presentations
Careful with projections $100 million in 3 years as this is really hard
Make low sales worst case scenario of projections
It must be large market to be worth it to VC’s
It should not be about getting to destination with business it should be about not wanting journey to end because it is amazing
Vc’s are fighting over deals.
Vc needs One
Is it a big market? How big?
Can your product win over large share of that market?
Can your team do the job?
If you are off target in a big market you can still make it. If it's a small market then you have no luck.
Top VCs want to invest in potential leaders
Bottom up or top down projections
Make market share numbers inspiring Don’t do this unless you are projecting to take over the leadership spot in hour projections allow for some competitors but keep market spot
Will this business improve how the world operates
VC Needs Two
What kind of competitive position do you have?
What makes your products unique and compelling to ward of copycats?
Can you stake out a specific part of your market and defend it?
Or can someone reproduce what you are doing overnight?
Build brand is silicon valleys new mantra
First movers status provides some advantages but not much key to business is swift execution
team - domain expert, lack of startup experience is a concern. Principle use of the plan is just at the beginning. Need people of navigating without street signs. Vc’s number 1 invest in people Need to beintelligent and tireless. Skilled in functional areas not highly experienced. Flexible capable of learning quickly. Some startup experience people who can strive in chaos. Comfortable with change. Change product sometimes radically when necessary.
Vc business
Earns fee and carry (% of deal)
Past - limited funds and investments experienced in management more time for deal participation
Present - lots of funds and investments limited to no management experience.
Startups sail into stiff winds leaking in high seas with limited food and water
$5 million dollar investment is good for vc interest as they want to invest a large amount of capital into each deal.
Lead vc want 40% of deal at this stage seed
$12.5 million post money - 5 million investments = 7.5 million pre money
Silicon Valley operates on momentum
Don't take the highest valuation
Get the right valuation and investors most important
Credibility experience networks
Peg round at highest value necessary to get the funds from the right investors. Range with a minimum no max
1 year burn rate/ net loss + 6 months take anything reasonably above that never seen customers fail for too much money
Don’t gauge investors over perform set right expectations
Valuation based on risk and reward
Dilution is nominal running out of money is terminal. If concerned about it don’t take that much money initially.
Is that your personal exit strategy? If you don’t get the big money will trying be a failure?
Angels invest early pay to help the company
When no rocket science pump it with money and grow fast
There is going to be an opening and you must fill it quickly.
Questions that cannot be answered until launch.
Will people obtain services online?
What market segment will respond and what services do they want?
What is the best way to attract customers? How to partner with financial partners?
Most ideas do not find funding
Passion pulls your sense of connection
When Work you do expresses who you are
What things would do today if it was your last. Only passion will get you through tough times. Need something n business to inspire you and people around you to prevail no matter what challenges arise.
Drive pushes you forward duty obligation
Self knowledge teaches you what your passion is
Romance not finance that makes business worth pursuing
Define business by what its becoming
CEO lead inspire motivate
The experience itself is the end
Business is tough tenacity and endurance are the main requirements. Money cannot be overwhelming objective or endurance will wane.
The things that matter to us personally
Passions and values family relationships health personal growth
Live life fully now don't try to buy later
Monk - Experience satisfaction joy
Following your passions won’t make you rich but it won’t hurt either
Life is too short to spend chasing allusive riches
Think holistically about career
Ideas into valuable enterprises that can change the world
Country Butan gross national happiness
No suits in silicon valley
Everyone wants to be the next amazon don't be too commonplace during presentations
Careful with projections $100 million in 3 years as this is really hard
Make low sales worst case scenario of projections
It must be large market to be worth it to VC’s
It should not be about getting to destination with business it should be about not wanting journey to end because it is amazing
Vc’s are fighting over deals.
Vc needs One
Is it a big market? How big?
Can your product win over large share of that market?
Can your team do the job?
If you are off target in a big market you can still make it. If it's a small market then you have no luck.
Top VCs want to invest in potential leaders
Bottom up or top down projections
Make market share numbers inspiring Don’t do this unless you are projecting to take over the leadership spot in hour projections allow for some competitors but keep market spot
Will this business improve how the world operates
VC Needs Two
What kind of competitive position do you have?
What makes your products unique and compelling to ward of copycats?
Can you stake out a specific part of your market and defend it?
Or can someone reproduce what you are doing overnight?
Build brand is silicon valleys new mantra
First movers status provides some advantages but not much key to business is swift execution
team - domain expert, lack of startup experience is a concern. Principle use of the plan is just at the beginning. Need people of navigating without street signs. Vc’s number 1 invest in people Need to beintelligent and tireless. Skilled in functional areas not highly experienced. Flexible capable of learning quickly. Some startup experience people who can strive in chaos. Comfortable with change. Change product sometimes radically when necessary.
Vc business
Earns fee and carry (% of deal)
Past - limited funds and investments experienced in management more time for deal participation
Present - lots of funds and investments limited to no management experience.
Startups sail into stiff winds leaking in high seas with limited food and water
$5 million dollar investment is good for vc interest as they want to invest a large amount of capital into each deal.
Lead vc want 40% of deal at this stage seed
$12.5 million post money - 5 million investments = 7.5 million pre money
Silicon Valley operates on momentum
Don't take the highest valuation
Get the right valuation and investors most important
Credibility experience networks
Peg round at highest value necessary to get the funds from the right investors. Range with a minimum no max
1 year burn rate/ net loss + 6 months take anything reasonably above that never seen customers fail for too much money
Don’t gauge investors over perform set right expectations
Valuation based on risk and reward
Dilution is nominal running out of money is terminal. If concerned about it don’t take that much money initially.
Is that your personal exit strategy? If you don’t get the big money will trying be a failure?
Angels invest early pay to help the company
When no rocket science pump it with money and grow fast
There is going to be an opening and you must fill it quickly.
Questions that cannot be answered until launch.
Will people obtain services online?
What market segment will respond and what services do they want?
What is the best way to attract customers? How to partner with financial partners?
Most ideas do not find funding
Passion pulls your sense of connection
When Work you do expresses who you are
What things would do today if it was your last. Only passion will get you through tough times. Need something n business to inspire you and people around you to prevail no matter what challenges arise.
Drive pushes you forward duty obligation
Self knowledge teaches you what your passion is
Romance not finance that makes business worth pursuing
Define business by what its becoming
CEO lead inspire motivate
February 4, 2020
The Monk and the Riddle is a business leadership book by American entrepreneur Randy Komisar. Drawing its arguments from Komisar’s (often humorous) lived experience, rather than didactic lists and frameworks, the book seeks to teach its audience how high-stakes business dealings, particularly those of Silicon Valley, actually go down. The book is structured as a series of dialogues between Komisar and two aspiring entrepreneurs whom he names Allison and Lenny. The dialogue touches on many topics in the startup life cycle and Silicon Valley’s dynamic, often problematic, social world. Komisar also imparts knowledge from the perspective of a venture capitalist at the top of the startup food chain, showing how startup plans are pitched, and often fail. The book is a departure from many business leadership texts, promoting a philosophy of work-life balance in which the self-proclaimed entrepreneur must perpetually ask the question of whether his work brings joy.
Short essays break up The Monk and the Riddle’s dialogue in Komisar’s distinctly reflective voice, as he looks back on his career. Without much explicit criticism of Silicon Valley, he weaves it into his descriptions of its culture. He also provides a number of tips for wannabe startup owners to navigate the tech space. These range from insights into the emotions of higher-ups, such as the fact that venture capitalists are usually reluctant to reject funding requests, to helpful tweaks for startups’ business models. He calls one of his favorite business leader archetypes the “Virtual CEO.” He argues that countless managers and C-level executives forego having a mentor or advisor, following a misguided belief that business is best learned by throwing oneself into the fray and sorting it out from there. He argues that managers are essential to running an effective business, especially when the business owners in question are young novices in their target industries. Startups, in particular, Komisar observes, are rife with inexperienced youngsters.
Komisar also argues that pitches about potential profits are not the most effective kind of pitches. The ones that stand out in the end manage to get potential investors excited about their core ideas, rather than their profit models. Komisar exhorts his readers to look for that flicker of genius in each of their business proposals. The converse business model consists of clever individuals who only want to get rich, and ironically, forego any chance of actually succeeding.
In his conclusion, Komisar concedes that his business strategy is more philosophical than practical. He asserts that the technical components of business models are better found in textbooks and business school lectures. At the same time, he makes a case for seeing the existential in the commercial. Most “laws” about business, if there are any, can be derived from empirical study, and need not be found in trite airport literature. Given that business success is more about personality and creativity than the rote memorization of academic content, Komisar concludes that business leaders should invest in individuals whom they find interesting and dynamic, rather than inert forms of capital. The Monk and the Riddle casts “success” in the business world as a metric that can only be evaluated by asking oneself whether he or she is happy doing his or her job.
Short essays break up The Monk and the Riddle’s dialogue in Komisar’s distinctly reflective voice, as he looks back on his career. Without much explicit criticism of Silicon Valley, he weaves it into his descriptions of its culture. He also provides a number of tips for wannabe startup owners to navigate the tech space. These range from insights into the emotions of higher-ups, such as the fact that venture capitalists are usually reluctant to reject funding requests, to helpful tweaks for startups’ business models. He calls one of his favorite business leader archetypes the “Virtual CEO.” He argues that countless managers and C-level executives forego having a mentor or advisor, following a misguided belief that business is best learned by throwing oneself into the fray and sorting it out from there. He argues that managers are essential to running an effective business, especially when the business owners in question are young novices in their target industries. Startups, in particular, Komisar observes, are rife with inexperienced youngsters.
Komisar also argues that pitches about potential profits are not the most effective kind of pitches. The ones that stand out in the end manage to get potential investors excited about their core ideas, rather than their profit models. Komisar exhorts his readers to look for that flicker of genius in each of their business proposals. The converse business model consists of clever individuals who only want to get rich, and ironically, forego any chance of actually succeeding.
In his conclusion, Komisar concedes that his business strategy is more philosophical than practical. He asserts that the technical components of business models are better found in textbooks and business school lectures. At the same time, he makes a case for seeing the existential in the commercial. Most “laws” about business, if there are any, can be derived from empirical study, and need not be found in trite airport literature. Given that business success is more about personality and creativity than the rote memorization of academic content, Komisar concludes that business leaders should invest in individuals whom they find interesting and dynamic, rather than inert forms of capital. The Monk and the Riddle casts “success” in the business world as a metric that can only be evaluated by asking oneself whether he or she is happy doing his or her job.
May 25, 2023
This book was fitting to close out the semester with -- lying on the quiet green on a sunny day playing jazz through my headphones and reading this in sunglasses provided the perfect backdrop to think about the bigger questions of passion, value, and life's pathways through the lens of Lenny's venture story. This book made me think about the two ends to the 'work/passion' spectrum: one champions pursuing whatever feels 'right' in all cases - this is the 'you'll never have to work a day in your life if your work is your passion' camp; the other reassures me that 'work can just be a means to a satisfactory personal life - a way to make enough money to start a family or pursue your passion projects'. I still don't know where I lie along that spectrum. But what are the personal risks I am willing to take for a professional one? How long should I tolerate taking a detour for more 'stability' before doing what I truly want to do? Do I even know what I want to do? How can I find out?
This paragraph really resonated with me, and made me really reflect upon what I had started to think about when I read Ikigai:
"But when I drill down, I inevitably find personal risks that need to be considered along with the business risks. Personal risks include the risk of working with people you don't respect; the risk of working for a company whose values are inconsistent with your own; the risk of compromising what's important; the risk of doing something you don't care about; and the risk of doing something that fails to express - or even contradicts - who you are. And then there is the most dangerous risk of all - the risk of spending your life not doing what you want on the bet you can buy yourself the freedom to do it later."
Other ideas the book left me pondering (many of which echo what I learnt in ENGN this semester):
- momentum, and how it plays into the eager entrepreneur's journey
- the product is not the company
- first mover is well positioned, but that's not everything
- business is a creative institution
- "the decision to fund or move on is a matter of instinct"
- don't fall trap to the deferred life plan
- managing is not the same as leading
- don't limit your vision too early. Visionary leadership > management acumen
- Silicon Valley's forgiving attitude towards failure
- personal risks vs professional risks.
- don't subordinate creativity to become a specialist
- your most precious asset is time --> apply it to what is most meaningful to you!
- inevitability of change
- 'peripheral people and passions'
This paragraph really resonated with me, and made me really reflect upon what I had started to think about when I read Ikigai:
"But when I drill down, I inevitably find personal risks that need to be considered along with the business risks. Personal risks include the risk of working with people you don't respect; the risk of working for a company whose values are inconsistent with your own; the risk of compromising what's important; the risk of doing something you don't care about; and the risk of doing something that fails to express - or even contradicts - who you are. And then there is the most dangerous risk of all - the risk of spending your life not doing what you want on the bet you can buy yourself the freedom to do it later."
Other ideas the book left me pondering (many of which echo what I learnt in ENGN this semester):
- momentum, and how it plays into the eager entrepreneur's journey
- the product is not the company
- first mover is well positioned, but that's not everything
- business is a creative institution
- "the decision to fund or move on is a matter of instinct"
- don't fall trap to the deferred life plan
- managing is not the same as leading
- don't limit your vision too early. Visionary leadership > management acumen
- Silicon Valley's forgiving attitude towards failure
- personal risks vs professional risks.
- don't subordinate creativity to become a specialist
- your most precious asset is time --> apply it to what is most meaningful to you!
- inevitability of change
- 'peripheral people and passions'
June 15, 2023
Uh oh. The book starts out with a rich guy from Silicon Valley on bike trip to Myanmar. I'm thinking "Is this going to be one of those preachy this-is-how-I-got-rich-and-you-can-too books? Gag! I am so glad I read beyond the first chapter, because that kind of book this is not.
(Oh, and there is a monk and a riddle. The riddle is how can you drop an egg so that it does not break. The riddle is not answered directly but is implied in the narrative.)
To my delighted surprise, I found The Monk and The Riddle a value-based insider look into the rough world of a startup. As I breezed easily through the pages I recognised many characteristics in Randy's serendipitous protégé from other recent readings: cognitive dissonance, Dunning-Kruger Effect, and Selfish Gene squared with Not Giving a F*ck.
What made the read so enjoyable is how Komisar introduced the near forgotten baseline traits of humanity into his advice to Lenny Frank. I'm not sure if Lenny is his real name or a pseudonym. I am reminded of the oafish simpleton Lennie from Of Mice and Men but with a pitch, briefcase, and a salesman's determination for making a desparate sale.
Komisar seems to genuinely care for the outcome for Lenny, his partner Allison, and their sometimes contentious business idea. If the values espoused by Randy Komisar are genuine qualities that angels and venture capitalists embrace, then I think there is hope for the world.
On the other hand, this book is now 23 years old. Does the tech industry still hold to a humanity-based ideology toward investment and new product development? Or is it a facade for the 1% to create more wealth and disparity? It would be interesting to listen to hear pitches at The Konditorei, or its contemporary equivalent. Perhaps these conversations have moved into closed rooms and are now conducted with lawyers present. I don't know.
What made me appreciate Randy's writing is his whole person approach to the start up process. He provided insight that what is of most value is not whether you can make a bunch of money, sell off or IPO, or convince someone that your idea is the next Bezos. Instead that at the core of anything meaningful '...business at it's heart has the potential for creative expression and positive change' (p56) and that 'The Valley recognises that failure is an unavoidable part of the search for success.' (p 150)
If I had to recommend one book for someone seeking to start a business, this is the book I'd recommend. Dated? Perhaps. But at the core is a timeless values-based wisdom that should stimulate the seeker to ask the better questions
(Oh, and there is a monk and a riddle. The riddle is how can you drop an egg so that it does not break. The riddle is not answered directly but is implied in the narrative.)
To my delighted surprise, I found The Monk and The Riddle a value-based insider look into the rough world of a startup. As I breezed easily through the pages I recognised many characteristics in Randy's serendipitous protégé from other recent readings: cognitive dissonance, Dunning-Kruger Effect, and Selfish Gene squared with Not Giving a F*ck.
What made the read so enjoyable is how Komisar introduced the near forgotten baseline traits of humanity into his advice to Lenny Frank. I'm not sure if Lenny is his real name or a pseudonym. I am reminded of the oafish simpleton Lennie from Of Mice and Men but with a pitch, briefcase, and a salesman's determination for making a desparate sale.
Komisar seems to genuinely care for the outcome for Lenny, his partner Allison, and their sometimes contentious business idea. If the values espoused by Randy Komisar are genuine qualities that angels and venture capitalists embrace, then I think there is hope for the world.
On the other hand, this book is now 23 years old. Does the tech industry still hold to a humanity-based ideology toward investment and new product development? Or is it a facade for the 1% to create more wealth and disparity? It would be interesting to listen to hear pitches at The Konditorei, or its contemporary equivalent. Perhaps these conversations have moved into closed rooms and are now conducted with lawyers present. I don't know.
What made me appreciate Randy's writing is his whole person approach to the start up process. He provided insight that what is of most value is not whether you can make a bunch of money, sell off or IPO, or convince someone that your idea is the next Bezos. Instead that at the core of anything meaningful '...business at it's heart has the potential for creative expression and positive change' (p56) and that 'The Valley recognises that failure is an unavoidable part of the search for success.' (p 150)
If I had to recommend one book for someone seeking to start a business, this is the book I'd recommend. Dated? Perhaps. But at the core is a timeless values-based wisdom that should stimulate the seeker to ask the better questions
October 31, 2019
What would you be willing to do for the rest of your life...? It's a question most of us consider only hypothetically-opting instead to "do what we have to do" to earn a living. But in the critically acclaimed bestseller "The Monk and the Riddle", entrepreneurial sage Randy Komisar asks us to answer it for real. The book's timeless advice - to make work pay not just in cash, but in experience, satisfaction, and joy - will be embraced by anyone who wants success to come not just from what they do, but from who they are.At once a fictional tale of Komisar's encounters with a would-be entrepreneur and a personal account of how Komisar found meaning not in work's rewards but in work itself, the book illustrates what's wrong with the mainstream thinking that we should sacrifice our lives to make a living. Described by Fortune.com as "part personal essay, part fictional narrative and part meditation on the nature of work and life," "The Monk and the Riddle" is essential reading on the art of creating a life while making a living. 'Belongs in a category by itself...The best thing I've read all year' - "San Francisco Examiner". 'A timely book' - "USA Today". 'A self-help manual and business fable rolled into one' - "The Times, London".
https://www.fahasa.com/
https://www.fahasa.com/
June 28, 2023
10 lições do livro "O Monge e o Enigma" de Randy Komisar
1. A vida é uma jornada, e se você se apaixonar pela jornada, você estará apaixonado para sempre.
2. O sucesso vem de melhorar e inventar persistentemente, não de fazer persistentemente o que não está funcionando.
3. Não há escapatória da pergunta que todo empresário deve responder: Como faço a diferença no mundo com o meu trabalho?
4. As maiores perguntas da vida muitas vezes não respondem, mas é a busca por essas respostas que dá sentido às nossas vidas.
5. A dura realidade é que a maioria das startups falham, por isso é importante ter uma paixão pela tarefa em mãos, não apenas pelo resultado potencial.
6. Os empresários vivem pelas suas visões, não pelos seus salários.
7. Empreendedorismo é abraçar a incerteza, correr riscos calculados e ter a coragem de transformar fracassos em oportunidades.
8. Os empresários mais bem sucedidos têm a capacidade de ver as coisas de forma diferente e criar novas soluções para problemas antigos.
9. Quando você persegue suas paixões e faz o que ama, o resto se encaixa.
10. Empreendedorismo não é apenas um trabalho, é um modo de vida. Exige perseverança, dedicação e vontade de seguir seu próprio caminho.
Obrigado por ler
1. A vida é uma jornada, e se você se apaixonar pela jornada, você estará apaixonado para sempre.
2. O sucesso vem de melhorar e inventar persistentemente, não de fazer persistentemente o que não está funcionando.
3. Não há escapatória da pergunta que todo empresário deve responder: Como faço a diferença no mundo com o meu trabalho?
4. As maiores perguntas da vida muitas vezes não respondem, mas é a busca por essas respostas que dá sentido às nossas vidas.
5. A dura realidade é que a maioria das startups falham, por isso é importante ter uma paixão pela tarefa em mãos, não apenas pelo resultado potencial.
6. Os empresários vivem pelas suas visões, não pelos seus salários.
7. Empreendedorismo é abraçar a incerteza, correr riscos calculados e ter a coragem de transformar fracassos em oportunidades.
8. Os empresários mais bem sucedidos têm a capacidade de ver as coisas de forma diferente e criar novas soluções para problemas antigos.
9. Quando você persegue suas paixões e faz o que ama, o resto se encaixa.
10. Empreendedorismo não é apenas um trabalho, é um modo de vida. Exige perseverança, dedicação e vontade de seguir seu próprio caminho.
Obrigado por ler
January 16, 2018
“Don’t confuse drive and passion. Drive pushes you forward. It’s a duty, an obligation. Passion pulls you. It’s the sense of connection you feel when the work you do expresses who you are. Only passion will get you through the tough times.”
Bought this book years ago for Danny Warshay’s Entrepreneurship class and finally got a chance to read it. And wow, it could of have been at a better time!
The big picture advice, like the difference between leadership + management or drive + passion, made me rethink the way I look at shaping my career going forwards. The more tactical advice, like needing three CEO’s - the retriever, the bloodhound + the husky, made me reconsider the ways I evaluate other businesses.
A quick, yet powerful read. Would recommend to anyone, both early and late in their career.
Bought this book years ago for Danny Warshay’s Entrepreneurship class and finally got a chance to read it. And wow, it could of have been at a better time!
The big picture advice, like the difference between leadership + management or drive + passion, made me rethink the way I look at shaping my career going forwards. The more tactical advice, like needing three CEO’s - the retriever, the bloodhound + the husky, made me reconsider the ways I evaluate other businesses.
A quick, yet powerful read. Would recommend to anyone, both early and late in their career.
February 6, 2021
I heard of this book from one of the Harvard Business Review Ideacast episodes. I tracked it down and began to read it..at first it paints Silicon Valley as this place of Milk and Honey. Where only the strong (and extremely smart) survive and the cast of characters are VC’s with pleated pants investing in tomorrow’s technology (TiVo). I grew weary of his storytelling midway through the book. But towards the end one page (As he stands atop a mountain while riding his bike) Randy Komisar puts everything into perspective. “Failure is inevitable if you’re trying to reinvent the future” my mind was blown! A few other gems came about that made the book worth reading. Komisar’s theory on success is also amazing. Please pick up this book and give it a spin.
September 25, 2017
What an outstanding book, well worth revisiting and deserving of sufficient time to digest its contents. It took me some time to be swept up by the main parable, the central pillar around which Komisar crafted his narrative, but once that had happened, I found myself relating it - as well as the highly pertinent asides selected from Komisar's own life - to other readings (e.g. The ideas of the stoics, as well as some that were later echoed by Cal Newport). This book isn't just about what's needed to succeed in business; it provides a wholistic perspective of how one can lead a satisfying life made exceptional through the type of work you choose to undertake.
February 24, 2018
A solid, easy read with some great ideas and questions to make you think. This book was read by the author of Traction many years ago and it inspired him to becoming a business coach and doing what he does now.
Big takeaway idea:
“What are you willing to do for the rest of your life? It does not mean, literally, what will you do for the rest of your life? ...that would be absurd...what it really asks is, if your life were to end suddenly and unexpectedly tomorrow, would you truly be able to say you’ve been doing what you truly care about today? What would you be willing to do for the rest of your life? What would it take to do that right now?”
Big takeaway idea:
“What are you willing to do for the rest of your life? It does not mean, literally, what will you do for the rest of your life? ...that would be absurd...what it really asks is, if your life were to end suddenly and unexpectedly tomorrow, would you truly be able to say you’ve been doing what you truly care about today? What would you be willing to do for the rest of your life? What would it take to do that right now?”
March 19, 2022
Of value to me is the ability to understand the VC world not necessarily as first person participant, but as an insight into the different kinds of founders, CEOs and entrepreneurs that are building their startups. Speaking their language requires specific terminology and perspective.
As a CISO for a security startup, I interact with the entire spectrum of driven individuals. What I took away from this book was the insight that I can best ignore some of that drive and instead focus on identifying the passion. And the wisdom to know when someone does not know the difference between drive and passion.
As a CISO for a security startup, I interact with the entire spectrum of driven individuals. What I took away from this book was the insight that I can best ignore some of that drive and instead focus on identifying the passion. And the wisdom to know when someone does not know the difference between drive and passion.
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