Ann Winblad

Cofounder, Open Systems, Hummer Winblad

            Ann Winblad started Open systems, an accounting software company with help the of $500 she borrowed from her brother. During her college, she was given an extraordinary opportunity. The school picked students with the top SAT scores and top grades as experimental students. As a result Ann did not have to take any prerequisites, so it allowed her to take a lot more focused courseware than most students. She could do whatever she wanted. She was able to double her major in Mathematics and Business Administration and also fill in a whole bunch of other classes, like computer science and acting that most students wouldn’t have.

            In early ‘70s big era of affirmative action and companies were forced to go hire women. Ann Winblad was interviewed for some really interesting jobs, and one that she thought sounded really great was the job at the Federal Reserved Bank. She’d never been in a corporation, and it felt so glamorous to have cubicle. But it just wasn’t inspiring. No one was chomping at the bit. She actually can’t remember, she knew she was going to quit, but she can’t remember the moment where she thought” ill quit and start a company”.

            The advent of the microprocessor and the first affordable PC’s created a new opportunity for programmers. Winblad was one of the first generation of entrepreneurs who figured out by trial and error what a software startup was. Six years later, she and her cofounder sold the company for over $ 15 million. In 1989, she co founded Hummer Winblad Venture Partners, the first venture firm to focus exclusively on software. In the years since 45 of its portfolio companies have been acquired or gone public. Now Winblad is probably the most powerful woman in venture Capital.

            Three things I learn from Ann Winblad are: first I was really impressed and inspired with Ann Winblad because only few woman have the courage to start a startup for starting a startup is really a risk. If you weren’t really a competent young woman, you would fail. Second is learning how to optimize time, and you get really a good at that. You do it wrong and most entrepreneurs do this,” let’s get up earlier and stay up later.” Another is the biggest challenge of moving from being business investor: your job is not to tell, but to teach.” And lastly think like a big dog and then figure out how you find leverage to get there. You have to have tactics to get to strategies, but you have to put your strategy up here and then see “where’s my gap” to get to this aspirational goal.