challapradyumna
Skilled
TNW2012 Key Note
[media]http://www.youtube.com/watch?v=_-8xAUx5Y6s[/media]
First 8:30 about entrepreneurship.
1) Money
A lot of people think that they want to be an entrepreneur because it’s a good way to make money. It just isn’t, that’s just wrong. Depending on how you count, 95% to 99% of companies fail.
If you think starting from scratch is a good way to get a financial return, you’re just bad a math. And you kind of need to be good at it to become an entrepreneur.
If you’re smart enough, if you’re talented enough, if you have the drive, if you have the ability, and you’re motivated by making money, then you should just get a real job instead, like become a banker or an investor or a consultant or something. You’ll be much more likely to make a lot of money over the course of your career than by starting a company.
The second most common wrong reason is:
2) Power
People have this vision of being the CEO of a company they started and being on top of the pyramid. Some people are motivated by that, but that’s not at all what it’s like.
What it’s really like: everyone else is your boss – all of your employees, customers, partners, users, media are your boss. I’ve never had more bosses and needed to account for more people today.
The life of most CEOs is reporting to everyone else, at least that’s what it feels like to me and most CEOs I know. If you want to exercise power and authority over people, join the military or go into politics. Don’t be an entrepreneur.
Wrong reason number 3 is:
3) Boredom
This kind of poorly formed idea that you’re bored from work and want to do something different may be a good start, but it’s not sufficient. If you’re bored at your job, I strongly advice you to stay at your job and keep collecting your paycheck while you figure out what you want to do.
Wrong reason number 4:
4) Flex time
People tell me they want to become entrepreneurs because they want more flexibility in their schedules. They’ll say: “I want more time to spend with my kids, and more time to travel and spend more time with my familyâ€. That’s stupid. It doesn’t work like that at all.
If you’re going to be entrepreneur, you will actually get some flex time to be honest. You’ll be able to work any 24 hours a day you want!
In summary: there’s lots of bad reasons to start a company. But there’s only one good, legitimate reason, and I think you know what it is: it’s to change the world.
[media]http://www.youtube.com/watch?v=_-8xAUx5Y6s[/media]
First 8:30 about entrepreneurship.
1) Money
A lot of people think that they want to be an entrepreneur because it’s a good way to make money. It just isn’t, that’s just wrong. Depending on how you count, 95% to 99% of companies fail.
If you think starting from scratch is a good way to get a financial return, you’re just bad a math. And you kind of need to be good at it to become an entrepreneur.
If you’re smart enough, if you’re talented enough, if you have the drive, if you have the ability, and you’re motivated by making money, then you should just get a real job instead, like become a banker or an investor or a consultant or something. You’ll be much more likely to make a lot of money over the course of your career than by starting a company.
The second most common wrong reason is:
2) Power
People have this vision of being the CEO of a company they started and being on top of the pyramid. Some people are motivated by that, but that’s not at all what it’s like.
What it’s really like: everyone else is your boss – all of your employees, customers, partners, users, media are your boss. I’ve never had more bosses and needed to account for more people today.
The life of most CEOs is reporting to everyone else, at least that’s what it feels like to me and most CEOs I know. If you want to exercise power and authority over people, join the military or go into politics. Don’t be an entrepreneur.
Wrong reason number 3 is:
3) Boredom
This kind of poorly formed idea that you’re bored from work and want to do something different may be a good start, but it’s not sufficient. If you’re bored at your job, I strongly advice you to stay at your job and keep collecting your paycheck while you figure out what you want to do.
Wrong reason number 4:
4) Flex time
People tell me they want to become entrepreneurs because they want more flexibility in their schedules. They’ll say: “I want more time to spend with my kids, and more time to travel and spend more time with my familyâ€. That’s stupid. It doesn’t work like that at all.
If you’re going to be entrepreneur, you will actually get some flex time to be honest. You’ll be able to work any 24 hours a day you want!
In summary: there’s lots of bad reasons to start a company. But there’s only one good, legitimate reason, and I think you know what it is: it’s to change the world.