When Samwer was not Samwer yet but was writing a book – way before Rocket Internet and its clones

I did not know much of the background of the Samwer brothers beyond the names associated with them: Alando, Jamba, the European Founders Fund, Zalando and Rocket Internet. So I was surprised to be mentioned (thanks Kevin!) a book by Oliver, one of three brothers, America’s Most Successful Startups.

America's Most Successful Startups: a thesis by Oliver Samwer and Max Finger (1998)

Even if now more than 15 years old, it is a good book at least from the first 30 pages I have read so far. It reminds me the advice from Steve Blank. Just one example about founders: “The first thing you have to make sure when you put tagether a team of founders is that all founders share the same vision and the same values. The group can be heterogeneous, but the founders cannot have a different vision or a different set of values, because they will probably be partners for many, many years. You absolutely need to make sure that the goals of the founders are all aligned. Each of the founder has to be very sensitive what each of the other founders’ objectives are. You have to recognize these and try to incorporate them, because otherwise you will have people from day one heading in fundamentally different directions. Only if you get a team of really great people together, who share the same vision, and work together well as a team, you will create a very strong foundation for the company. Because everything in the company originates from the founding team and will grow out of that”. [Page 30]

Additionnally, concerning their roles: “Fourthly, depending on the business model, a high-tech company should typically have at least three key people: It should have a market visionary, someone who understands the market, the customer and the problem the customer has. It also has to have a product or technology visionary, who understands the product and technology and how it might be applied, but does not necessarily understand all the problems that the market has. And it needs a business execution person, because the idea itself if worth zero. It is the execution of the idea.” [Page 31]

Another interesting comment about Equity sharing: “Last but not least, the founders should hold equal stakes in the company so that they are in every respect equal partners. No matter who the idea bad and who contributed what in the founding process, the founders should split the company equally among them. Otherwise some founders will feellike second-rate founders, which produces a flaw from the very beginning and which might have a strong negative effect on the way.” [Page 31]

Samwer
Marc, Oliver and Alexander Samwer

Finally, I also liked their point of view on what you should do when at school: “Also, you need to try actively to get an educational background and experience that supports the venture. This really has to be an active approach. You have to put yourself in a position where you get involved in startups, you have to go to the places where entrepreneurs are, you have to go to places where you can get inspired, you have to meet people of similar spirits and build a network. In school you might participate in the business plan competition, take the classes where you will write a business plan, and take the entrepreneurial track at business school. That is where the people who want to do it are. […] Through such activities you will be meeting partners and ideas incidentally.”

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