The end of classes at Kellogg

This week is the last week of the quarter at Kellogg. Perhaps poetically, my last class was Prof Steven Roger's Entrepreneurial Finance. In this last class, Rogers recalled his life stories leading up to joining Kellogg's faculty.

Rogers left us with four lessons in particular:

• A good idea is not enough. It comes down to you: the jockey. If you are successful once, future opportunities come to you.
• Passion is not enough; you need skills - can you execute on the plan?
• The entrepreneurial route can be travelled in many ways, e.g. franchising, acquisition, startup.
• Valuation can and should be as simple as we make it.