There is heavy pressure in our industry for everyone to get on the train of entrepreneurship or startup, startup mode is on, Govt is supporting this, communities are on it, and now even banks are starting fund startup. This is all great news.
But should everyone having a entrepreneurial spirit, become an Entrepreneur?
Not necessarily. Many prefer to be, but different circumstances in career, money , family and culture make them not venture into that. So whats the option for them.
Here is where I would like to introduce my Kamal and Rajini analogy. I am sure most of you know about these cinema stalwarts from south india. They both had a completely different style and both were successful in their own way
Kamal , the startup guy – Entrepreneur : Kamal Hassan always tried like a startup guy, tried new things, ventured into unexplored territories, ahead of times, reinvested most of earnings in his movies, and his movies (product) appealed to a certain set of audience (market). Lot of his movies were commercial failures when they were made , but when you go back and watch them after several years, they are gems. He is like Jeff Bezos, not caring about short term, about profits, but only the long term impact his movies creates.
Rajini, the commercial superstar – Intrepreneur : Rajinikanth on the other hand mostly went for the trusted entertainers, big banner , big investment movies, he built his unique differentiation with punch dialogues, style and tricks, and many movie themes were already successful themes elsewhere. He partnered with big cinema houses who would bank on him for delivering what the audience wants, a mass market. Most of his movies were commercial hits.
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Showing posts with label entrepreneurs. Show all posts
Showing posts with label entrepreneurs. Show all posts
Wednesday, 10 February 2016
Friday, 5 February 2016
6 successful women entrepreneurs who rock the Indian startup scene
The first woman entrepreneur I knew was my neighbour who started a papad manufacturing business in the early 90s. I remember my mother being in awe of her and did her best to help out the budding entrepreneur.
But that was the 90s and these entrepreneurs were never glorified or talked about in the media. Even the choices for women in India were limited - most enterprising women built home-based businesses.
Over the turn of the millennium, a lot of businesses based on the distribution model were popularized, and empowered women too. Every other person you met was either an Amway or Oriflame distributor.
Fast forward a few years and we have women rocking the proverbial boat by trying their hands on so-called "male-dominated" businesses.
Let me introduce here six phenomenal ladies who rule the Indian startup scene with their disruptive ideas. From software developer to recruiter, from a woman who travelled alone for days on end surveying small city hotels to one whose mission is to pamper other Indian women, they have been there, done that and aren't slowing down anytime soon.
Of course, we'll talk about their work (and companies), which speaks for itself.
Read the post
But that was the 90s and these entrepreneurs were never glorified or talked about in the media. Even the choices for women in India were limited - most enterprising women built home-based businesses.
Over the turn of the millennium, a lot of businesses based on the distribution model were popularized, and empowered women too. Every other person you met was either an Amway or Oriflame distributor.
Fast forward a few years and we have women rocking the proverbial boat by trying their hands on so-called "male-dominated" businesses.
Let me introduce here six phenomenal ladies who rule the Indian startup scene with their disruptive ideas. From software developer to recruiter, from a woman who travelled alone for days on end surveying small city hotels to one whose mission is to pamper other Indian women, they have been there, done that and aren't slowing down anytime soon.
Of course, we'll talk about their work (and companies), which speaks for itself.
Read the post
Wednesday, 3 February 2016
How should you tap into Silicon Valley?
The roughly 1,800-square-mile area commonly known as Silicon Valley, southeast of San Francisco Bay, is home to just three million people—slightly less than 1 percent of the US population. Yet the Valley, seat of several world-class universities and numerous cutting-edge enterprises, has become an economic and innovation powerhouse whose importance is hugely disproportionate to its small physical size. If it were a country, it would rank among the world’s 50 largest economies, larger than those of Hungary, Vietnam, and New Zealand, among others. In 2013, Silicon Valley generated over 12 percent of US patent registrations and produced about 11 percent of new US-company IPOs, and the greater Bay Area attracted almost 40 percent of US venture-capital (VC) investment.1 More than a few ideas hatched in the Bay Area have paid off handsomely. Thirty-two of the 50 private start-ups with valuations at or exceeding $1 billion are based there. This is not a new phenomenon, of course. Bay Area enterprises have been creating new markets and disrupting a wide swath of industries for decades.
As companies everywhere strive to stay ahead of the digital revolution, the payoff from engaging with Silicon Valley can be substantial. BMW, which first arrived there almost 20 years ago, linked up with Apple to become the first carmaker to integrate the iPod into its vehicles—an initiative that likely would not have been possible without a physical presence in the area. BMW’s development of its i3 electric vehicle also benefited from collaboration with other Valley companies.
As companies everywhere strive to stay ahead of the digital revolution, the payoff from engaging with Silicon Valley can be substantial. BMW, which first arrived there almost 20 years ago, linked up with Apple to become the first carmaker to integrate the iPod into its vehicles—an initiative that likely would not have been possible without a physical presence in the area. BMW’s development of its i3 electric vehicle also benefited from collaboration with other Valley companies.
No silver bullet
But for every success, companies launch many haphazard “Valley initiatives” that yield little and end in disappointment. Consider, for example, the Bay Area networking offices beloved of many outsiders. These attempts to get a foot in the door typically involve establishing a small outpost charged with responsibility for networking with VC funds, leading area businesses, and promising Valley start-ups. Many companies find it difficult to make this model work. Even if employees in these offices can identify winning ideas—no sure thing, of course—their potential tends to get watered down or lost as the news is passed back to corporate headquarters and up the chain of command. Often, opportunities are squandered, and frustrated employees at the satellite office leave to join some fast-growing Valley employer.
Companies that set up their own venture-capital funds or corporate investment arms often report disappointing results, too. In the Bay Area, after all, money is generally less important than good connections; well-established entrepreneurs and VCs there tend to stick together and pick winners cooperatively. Even corporate-backed entities flush with money struggle to embed themselves in the local network. Intel Capital—launched by one of the Valley’s original corporate pillars—is a notable exception, but many more fail to make meaningful contributions to their corporate parents or don’t follow a coherent corporate strategy in training their sights on target companies. For many big businesses looking in from the outside, creating a venture fund is a difficult way to channel the Valley’s entrepreneurial spirit and generate fresh ideas.
But for every success, companies launch many haphazard “Valley initiatives” that yield little and end in disappointment. Consider, for example, the Bay Area networking offices beloved of many outsiders. These attempts to get a foot in the door typically involve establishing a small outpost charged with responsibility for networking with VC funds, leading area businesses, and promising Valley start-ups. Many companies find it difficult to make this model work. Even if employees in these offices can identify winning ideas—no sure thing, of course—their potential tends to get watered down or lost as the news is passed back to corporate headquarters and up the chain of command. Often, opportunities are squandered, and frustrated employees at the satellite office leave to join some fast-growing Valley employer.
Companies that set up their own venture-capital funds or corporate investment arms often report disappointing results, too. In the Bay Area, after all, money is generally less important than good connections; well-established entrepreneurs and VCs there tend to stick together and pick winners cooperatively. Even corporate-backed entities flush with money struggle to embed themselves in the local network. Intel Capital—launched by one of the Valley’s original corporate pillars—is a notable exception, but many more fail to make meaningful contributions to their corporate parents or don’t follow a coherent corporate strategy in training their sights on target companies. For many big businesses looking in from the outside, creating a venture fund is a difficult way to channel the Valley’s entrepreneurial spirit and generate fresh ideas.
A practical playbook
In our experience, there are three proven ways to engage with Silicon Valley and tap into its zeitgeist.
In our experience, there are three proven ways to engage with Silicon Valley and tap into its zeitgeist.
Friday, 29 January 2016
Top entrepreneurs react to India's new startup policy
Prime Minister Narendra Modi unveiled his government's Start-up India policy at an event held in Vigyan Bhawan, New Delhi on January 16, 2016. The 19-point Action Plan aims to take forward the startup culture, making it easier for young, aspiring Indians to build on their business ideas.
While the jury is still out on the fine print of the policy, here are some quick reactions from some of India's top entrepreneurial minds:
Mohandas Pai, chairman, Manipal Education:
I think they have done everything that they could have through notification without amending the law, because amending of law will have to go to Parliament (that) is disrupted and not working. The disruption of Parliament has happened for political reasons. What is enthusiastic is that PM came; he spoke and announced many policies, which means that he cares. I think there is a bright future for technology, startups and employment in this country. The government is listening. There were 11 secretaries sitting on the dais and answering questions and telling us that ‘we are here for you’. I haven’t heard that in 20 years. The Revenue Secretary saying that ‘I will look into tax matters’, I haven’t heard that at all.
I think in Modi’s reign, everything is too good to be true but it is actually happening on the ground because we see it. We have been engaged with them for the last three-four months. The only thing that is lacking in a big way is the Reserve Bank of India (RBI). We have been engaged with Governor Raghuram Rajan (and) he has promised to do things. I think we will (now) see some action from the RBI side.
Read more views
While the jury is still out on the fine print of the policy, here are some quick reactions from some of India's top entrepreneurial minds:
Mohandas Pai, chairman, Manipal Education:
I think they have done everything that they could have through notification without amending the law, because amending of law will have to go to Parliament (that) is disrupted and not working. The disruption of Parliament has happened for political reasons. What is enthusiastic is that PM came; he spoke and announced many policies, which means that he cares. I think there is a bright future for technology, startups and employment in this country. The government is listening. There were 11 secretaries sitting on the dais and answering questions and telling us that ‘we are here for you’. I haven’t heard that in 20 years. The Revenue Secretary saying that ‘I will look into tax matters’, I haven’t heard that at all.
I think in Modi’s reign, everything is too good to be true but it is actually happening on the ground because we see it. We have been engaged with them for the last three-four months. The only thing that is lacking in a big way is the Reserve Bank of India (RBI). We have been engaged with Governor Raghuram Rajan (and) he has promised to do things. I think we will (now) see some action from the RBI side.
Read more views
Funding your startup: Crowdfunding vs. angel investment vs. VC
Raising capital for a startup has traditionally been one of the most difficult parts of getting your idea off the ground, but new technologies and platforms have given entrepreneurs a plethora of new ways to make that happen. Nowadays, there are more options than ever to get a new company funded.
"One of the really cool things that's happening right now is this massive proliferation of ways to start a company and ways to get your company funded," said Aaron Harris, a partner at Y Combinator.
New enterprises were once only birthed by born-wealthy proprietors, or business leaders who could roll capital over from another successful venture. As the venture capital industry began to grow, capital became available to innovators who wouldn't have had access to it before. Then, as angel investors grew in popularity, founders had a new way to get capital at an early stage where some VCs wouldn't tread. Now, consumer crowdfunding has added another layer to the investment equation for entrepreneurs.
As funding becomes more and more democratized, we are seeing what Harris calls, "the progressive elimination of gatekeepers." But, the process can still be difficult to navigate, especially if you are a first-time founder.
"Entrepreneurs, whatever they're doing and whatever company they're trying to start, they're so different," said Bobby Franklin, NVCA President and CEO. "Clearly, some of the funding routes that one might go would be better suited for one type of entrepreneur, or one type of idea, than another."
As Franklin noted, certain funding options will work best for specific types of companies. Here are the three most popular forms of funding and how to better understand them.
Read the post
"One of the really cool things that's happening right now is this massive proliferation of ways to start a company and ways to get your company funded," said Aaron Harris, a partner at Y Combinator.
New enterprises were once only birthed by born-wealthy proprietors, or business leaders who could roll capital over from another successful venture. As the venture capital industry began to grow, capital became available to innovators who wouldn't have had access to it before. Then, as angel investors grew in popularity, founders had a new way to get capital at an early stage where some VCs wouldn't tread. Now, consumer crowdfunding has added another layer to the investment equation for entrepreneurs.
As funding becomes more and more democratized, we are seeing what Harris calls, "the progressive elimination of gatekeepers." But, the process can still be difficult to navigate, especially if you are a first-time founder.
"Entrepreneurs, whatever they're doing and whatever company they're trying to start, they're so different," said Bobby Franklin, NVCA President and CEO. "Clearly, some of the funding routes that one might go would be better suited for one type of entrepreneur, or one type of idea, than another."
As Franklin noted, certain funding options will work best for specific types of companies. Here are the three most popular forms of funding and how to better understand them.
Read the post
Wednesday, 20 January 2016
The 50 Most Powerful People In Enterprise Tech
By now it's obvious that enterprise is one of the hottest areas in tech these days.
Enterprise tech is undergoing a major transformation with new apps, cloud computing, mobile devices, and many, many changes to the way networks and data centers are built and managed.
Plus, enterprise tech is enriching investors. So far this year we've seen investors gobbling up IPOs from companies like Tableau Software, Marketo, Gigamon, and numerous billion-dollar acquisitions.
So it's time again to shine a spotlight on the people in enterprise tech who are transforming your world.
Know them
Enterprise tech is undergoing a major transformation with new apps, cloud computing, mobile devices, and many, many changes to the way networks and data centers are built and managed.
Plus, enterprise tech is enriching investors. So far this year we've seen investors gobbling up IPOs from companies like Tableau Software, Marketo, Gigamon, and numerous billion-dollar acquisitions.
So it's time again to shine a spotlight on the people in enterprise tech who are transforming your world.
Know them
Monday, 19 October 2015
50 Habits That Prove You Were Born to Be an Entrepreneur
Most aspiring entrepreneurs feel it in their bones -- they were born to be an entrepreneur, to the point where nothing else in life could satisfy them. They’re dissatisfied as employees, followers or consumers. They want to create, build and grow their own enterprises, and they’re filled with the passion of their own ingenuity.
Here are 50 habits that born-to-be entrepreneurs can’t help but show. How many do you possess?
1. You can’t sit still. You’re always itching to come up with something, and do something great.
2. You’re always coming up with ideas. Good or bad, the flow of ideas never stops.
3. You can pinpoint flaws in other ideas. It comes naturally to you.
4. You marvel at successful business owners. Steve Jobs, Richard Branson, Mark Zuckerberg and Bill Gates are just a few of your heroes.
5. You get excited when you see a successful business in action.Whether it’s a local bar or a supermarket franchise, you can’t help but smile when you see a good business.
6. You constantly think of ways to improve your employer’s business.When you’re at work, you only think about how it could be better.
7. You hate being told what to do. You’re resentful of taking orders.
8. You love to learn new things. How tos and tutorials are what you’re all about.
9. You take things apart to see how they work. Remotes, toasters, phones -- you love to see the inner workings.
10. You dream of wealth. Money isn’t everything, but you can’t help but have it on your mind.
For the rest 40 habits and full post please visit
Here are 50 habits that born-to-be entrepreneurs can’t help but show. How many do you possess?
1. You can’t sit still. You’re always itching to come up with something, and do something great.
2. You’re always coming up with ideas. Good or bad, the flow of ideas never stops.
3. You can pinpoint flaws in other ideas. It comes naturally to you.
4. You marvel at successful business owners. Steve Jobs, Richard Branson, Mark Zuckerberg and Bill Gates are just a few of your heroes.
5. You get excited when you see a successful business in action.Whether it’s a local bar or a supermarket franchise, you can’t help but smile when you see a good business.
6. You constantly think of ways to improve your employer’s business.When you’re at work, you only think about how it could be better.
7. You hate being told what to do. You’re resentful of taking orders.
8. You love to learn new things. How tos and tutorials are what you’re all about.
9. You take things apart to see how they work. Remotes, toasters, phones -- you love to see the inner workings.
10. You dream of wealth. Money isn’t everything, but you can’t help but have it on your mind.
For the rest 40 habits and full post please visit
50 Quotes on Leadership Every Entrepreneur Should Follow
Every entrepreneur knows that the success of their business ultimately rests on their shoulders. Yes, the product you build and the team you hire are important, but your ability to lead is what carries your company. With that kind of pressure, it’s easy to feel stressed, lonely and overwhelmed at times. Every great leader has faced a challenge that defined their greatness, which is why we often turn to their advice when needed. Whether you’re an entrepreneur, business owner, or team leader, here are 50 inspirational quotes on leadership for when you need a little pep talk.
1. "A leader takes people where they want to go. A great leader takes people where they don't necessarily want to go, but ought to be." – Rosalynn Carter
2. “A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves.” - Lao Tzu
3. "It's hard to lead a cavalry charge if you think you look funny on a horse." - Adlai E. Stevenson II
4. "Great leaders are almost always great simplifiers, who can cut through argument, debate, and doubt to offer a solution everybody can understand." – Colin Powell
5. “The first responsibility of a leader is to define reality. The last is to say thank you. In between, the leader is a servant.” - Max DePree
6. "If your actions inspire others to dream more, learn more, do more and become more, you are a leader." – John Quincy Adams
7. “A leader is a dealer in hope.” - Napoleon Bonaparte
8. "A leader...is like a shepherd. He stays behind the flock, letting the most nimble go out ahead, whereupon the others follow, not realizing that all along they are being directed from behind." - Nelson Mandela
9. “He who has never learned to obey cannot be a good commander.” - Aristotle
10. "Leadership is the art of getting someone else to do something you want done because he wants to do it." - Dwight D. Eisenhower
For the rest 11 to 50 please visit
1. "A leader takes people where they want to go. A great leader takes people where they don't necessarily want to go, but ought to be." – Rosalynn Carter
2. “A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves.” - Lao Tzu
3. "It's hard to lead a cavalry charge if you think you look funny on a horse." - Adlai E. Stevenson II
4. "Great leaders are almost always great simplifiers, who can cut through argument, debate, and doubt to offer a solution everybody can understand." – Colin Powell
5. “The first responsibility of a leader is to define reality. The last is to say thank you. In between, the leader is a servant.” - Max DePree
6. "If your actions inspire others to dream more, learn more, do more and become more, you are a leader." – John Quincy Adams
7. “A leader is a dealer in hope.” - Napoleon Bonaparte
8. "A leader...is like a shepherd. He stays behind the flock, letting the most nimble go out ahead, whereupon the others follow, not realizing that all along they are being directed from behind." - Nelson Mandela
9. “He who has never learned to obey cannot be a good commander.” - Aristotle
10. "Leadership is the art of getting someone else to do something you want done because he wants to do it." - Dwight D. Eisenhower
For the rest 11 to 50 please visit
Monday, 13 July 2015
Invention Is a Flower, Innovation Is a Weed
The inventor of Ethernet and founder of 3Com shares some lessons with young innovators.
Bob Metcalfe’s career traces the trajectory of innovation. He started in the academy, as an undergraduate at MIT and a graduate student at Harvard. In his doctoral dissertation he laid the theoretical foundations for a novel method of boosting the power of personal computers: network them. At Xerox PARC, he turned that theory into something called Ethernet. Xerox wasn’t particularly successful at exploiting Ethernet commercially, so Metcalfe decided to try himself, founding 3Com to do the job. After many incarnations at 3Com, he cashed in his chips and became, in his words, a “technology pundit,” who writes a column for InfoWorld, organizes some of the information world’s best conferences, and sits on the board of Technology Review. TR asked Metcalfe to tell us what he learned as he followed the trajectory of innovation from the lab bench to the boardroom and beyond.
Bob Metcalfe’s career traces the trajectory of innovation. He started in the academy, as an undergraduate at MIT and a graduate student at Harvard. In his doctoral dissertation he laid the theoretical foundations for a novel method of boosting the power of personal computers: network them. At Xerox PARC, he turned that theory into something called Ethernet. Xerox wasn’t particularly successful at exploiting Ethernet commercially, so Metcalfe decided to try himself, founding 3Com to do the job. After many incarnations at 3Com, he cashed in his chips and became, in his words, a “technology pundit,” who writes a column for InfoWorld, organizes some of the information world’s best conferences, and sits on the board of Technology Review. TR asked Metcalfe to tell us what he learned as he followed the trajectory of innovation from the lab bench to the boardroom and beyond.
Monday, 6 July 2015
Indiaplaza.com: How an Indian e-commerce firm ran out of cash
Kothandaraman Vaitheeswaran and Indiaplaza.com, among the first e-commerce firms in India, survived the dotcom boom and bust but failed later due to lack of funds.
He had been contemplating it for a while.
After all, there is only so much a man can take.
The office rent was overdue. For three months. Almost Rs.6 lakh. The landlord had run out of patience. So had the 10-month deposit money for the lease. There was money due to suppliers as well—some 50 of them. Almost Rs.60 lakh. The suppliers had waited long enough. And now their pestering calls had taken a slightly demanding turn. Customers were complaining—on social media, review websites and to whoever cared to listen. They had ordered things and paid online, but they had not been delivered.
Suppliers wouldn’t ship incoming orders unless their dues were cleared. But customers didn’t care; they wanted to know why the products hadn’t arrived. They kept calling customer support, the office landline. Relentlessly. And they wanted their money back. But nobody would answer.
Over the last 18 months, almost 95% of the staff at Indiaplaza.com had quit. Taking up whatever assignment came their way, leaving behind a sinking ship where they were tired of delayed salaries, and for some months, no salary at all.
Kothandaraman Vaitheeswaran, the founder and chief executive officer of Indiaplaza, had nowhere to go. Nothing left. Except a modicum of dignity.
Read the story published in livemint.com on 3rd Jul 2015
He had been contemplating it for a while.
After all, there is only so much a man can take.
The office rent was overdue. For three months. Almost Rs.6 lakh. The landlord had run out of patience. So had the 10-month deposit money for the lease. There was money due to suppliers as well—some 50 of them. Almost Rs.60 lakh. The suppliers had waited long enough. And now their pestering calls had taken a slightly demanding turn. Customers were complaining—on social media, review websites and to whoever cared to listen. They had ordered things and paid online, but they had not been delivered.
Suppliers wouldn’t ship incoming orders unless their dues were cleared. But customers didn’t care; they wanted to know why the products hadn’t arrived. They kept calling customer support, the office landline. Relentlessly. And they wanted their money back. But nobody would answer.
Over the last 18 months, almost 95% of the staff at Indiaplaza.com had quit. Taking up whatever assignment came their way, leaving behind a sinking ship where they were tired of delayed salaries, and for some months, no salary at all.
Kothandaraman Vaitheeswaran, the founder and chief executive officer of Indiaplaza, had nowhere to go. Nothing left. Except a modicum of dignity.
Read the story published in livemint.com on 3rd Jul 2015
Wednesday, 1 July 2015
10 startups which are getting funds from Ratan Tata
Since stepping down from day-to-day responsibilities at the Tata Group, Ratan Tata has notched up 10 investments in startups.
Like the conglomerate, Tata's personal investment portfolio is also spread across India's hottest dotcoms, affordable healthcare and clean energy. The investments are typically between Rs 1-5 crore and made through RNT Associates.
Watch the Slide Show -- ET dt 5th Jun 2015
Like the conglomerate, Tata's personal investment portfolio is also spread across India's hottest dotcoms, affordable healthcare and clean energy. The investments are typically between Rs 1-5 crore and made through RNT Associates.
Watch the Slide Show -- ET dt 5th Jun 2015
15 hot start-ups for 2015
The year 2014 marked one of the greatest technological achievements for the country when the premier space agency Indian Space Research Organisation (ISRO) successfully landed a spacecraft on planet Mars.
Hailed and applauded for doing it at a fraction of a cost and in its first attempt, ISRO's Mars Orbiter has produced a huge fillip to technology in the country. What has remained largely under the radar is that a significant part of the technology has in fact come from our small and medium technology companies from across the country.
As the year draws to a close and we set our sights on 2015, we feature 15 startups that hold great promise. From a startup wanting to land on the moon to a startup providing fully compostable sanitary pads, India's new breed of entrepreneurs aim to reach for the stars and at the same time stay grounded by solving various problems in our society.
Watch Slide Show -- ET dt. 29th Dec 2014
Hailed and applauded for doing it at a fraction of a cost and in its first attempt, ISRO's Mars Orbiter has produced a huge fillip to technology in the country. What has remained largely under the radar is that a significant part of the technology has in fact come from our small and medium technology companies from across the country.
As the year draws to a close and we set our sights on 2015, we feature 15 startups that hold great promise. From a startup wanting to land on the moon to a startup providing fully compostable sanitary pads, India's new breed of entrepreneurs aim to reach for the stars and at the same time stay grounded by solving various problems in our society.
Watch Slide Show -- ET dt. 29th Dec 2014
Tuesday, 24 March 2015
8 energizing tips from marathon runners to get your mojo back
"If you want to run, run a mile. If you want to experience a different life, run a marathon" , said three-time gold medal Olympics winner Emil Zatopek.
An entrepreneur in many ways is like a marathon runner. By choosing entrepreneurship, you have opted for a different life. You know you have a long distance to run, but it is important that you realise it is not speed but stamina and endurance that will carry you through. The most important fact to remember is you are in this alone. It is your own race.
Full Post
An entrepreneur in many ways is like a marathon runner. By choosing entrepreneurship, you have opted for a different life. You know you have a long distance to run, but it is important that you realise it is not speed but stamina and endurance that will carry you through. The most important fact to remember is you are in this alone. It is your own race.
Full Post
Tuesday, 23 December 2014
What Self-Made Billionaires Do Best
What Self-Made Billionaires Do Best.
They don’t just generate results. They produce breakthroughs.
Post by John Sviokla and Mitch Cohen
Lynda Rae Harris was in her 20s and the owner of a Los Angeles–based ad agency when she met her second husband, Stewart Resnick. He was an entrepreneur who had built a successful janitorial business from scratch after his father won an industrial floor scrubber in a contest. Together, the couple made their first joint acquisition—of the floral wire service company Teleflora—in 1979. They followed it with acquisitions of agricultural land in California, and of the Franklin Mint, all chosen because of Stewart’s penchant for service businesses with repeat customers.
But even the most loyal customers need a reason to keep coming back, and Lynda was always looking for new ways to draw them—seeing and creating what they needed long before they knew they needed it. For example, she came up with the “gift within a gift” concept of packaging Teleflora flower deliveries in a reusable planter or vase. Lynda also redesigned the Franklin Mint’s traditional product set of commemorative coins and stamps to include collectible dolls, including porcelain Scarlett O’Hara and Princess Diana dolls that earned millions.
To make the most of their agricultural assets, Lynda sold the masses on the virtually unknown pomegranate fruit by packaging it as an antioxidant-rich juice drink now known as POM Wonderful. She also rebranded clementines—a sweet orange–mandarin orange hybrid fruit—as “Cuties” and marketed them to time-strapped parents with the slogan “Peel It Yourself.”
Stewart has an eye for purchasing viable businesses with high financial potential. He knows how to make them perform. Lynda can transcend their perceived limits with innovative product ideas and focused marketing. She knows how to produce entirely new business lines, time and again. Together, their ability to perform and produce has made the Resnicks billionaire.
Self-made billionaires are distinguished from the average business leader in one respect. It’s the way they look at the world. Their unusual perspective allows them to turn good ideas into great businesses. We found that most self-made billionaires practice five habits of mind as they apply to ideas, time, action, risk, and leadership. These five habits can be summed up with the word produce. To produce, in our lexicon, is to look beyond an existing business or market to envision something new, develop the often divergent resources necessary to make it real, and sell it to customers who didn’t even know they wanted it. Producers see unmet demand or potential for disruption and meet it head-on. They do this not once or twice, but throughout their careers. If they suffer professionally, it’s because producing is difficult to measure, and sometimes it’s difficult to spot.
Full Post
They don’t just generate results. They produce breakthroughs.
Post by John Sviokla and Mitch Cohen
Lynda Rae Harris was in her 20s and the owner of a Los Angeles–based ad agency when she met her second husband, Stewart Resnick. He was an entrepreneur who had built a successful janitorial business from scratch after his father won an industrial floor scrubber in a contest. Together, the couple made their first joint acquisition—of the floral wire service company Teleflora—in 1979. They followed it with acquisitions of agricultural land in California, and of the Franklin Mint, all chosen because of Stewart’s penchant for service businesses with repeat customers.
But even the most loyal customers need a reason to keep coming back, and Lynda was always looking for new ways to draw them—seeing and creating what they needed long before they knew they needed it. For example, she came up with the “gift within a gift” concept of packaging Teleflora flower deliveries in a reusable planter or vase. Lynda also redesigned the Franklin Mint’s traditional product set of commemorative coins and stamps to include collectible dolls, including porcelain Scarlett O’Hara and Princess Diana dolls that earned millions.
To make the most of their agricultural assets, Lynda sold the masses on the virtually unknown pomegranate fruit by packaging it as an antioxidant-rich juice drink now known as POM Wonderful. She also rebranded clementines—a sweet orange–mandarin orange hybrid fruit—as “Cuties” and marketed them to time-strapped parents with the slogan “Peel It Yourself.”
Stewart has an eye for purchasing viable businesses with high financial potential. He knows how to make them perform. Lynda can transcend their perceived limits with innovative product ideas and focused marketing. She knows how to produce entirely new business lines, time and again. Together, their ability to perform and produce has made the Resnicks billionaire.
Self-made billionaires are distinguished from the average business leader in one respect. It’s the way they look at the world. Their unusual perspective allows them to turn good ideas into great businesses. We found that most self-made billionaires practice five habits of mind as they apply to ideas, time, action, risk, and leadership. These five habits can be summed up with the word produce. To produce, in our lexicon, is to look beyond an existing business or market to envision something new, develop the often divergent resources necessary to make it real, and sell it to customers who didn’t even know they wanted it. Producers see unmet demand or potential for disruption and meet it head-on. They do this not once or twice, but throughout their careers. If they suffer professionally, it’s because producing is difficult to measure, and sometimes it’s difficult to spot.
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