Socrates – Greek Philosopher. Socrates and young man walking towards the river. Socrates ducked him into water and boy is struggling to get out. But he kept him in water till be turned blue. Young man gasp and takes a deep breath of Air .
him into water
and boy is
struggling to get out. But he kept
him in water till
be turned blue
Boy – “Air”
Socrates – that is the secret to success. “When you want success as badly as you wanted air, then only you will get it”
There is no other secret.A burning desire is the starting point of all accomplishment.
Just like a small fire cannot give much heat, a weak desire cannot produce great results.
Eg: Software program 1-2-3 designed by Mitch Kapor, a student and offered to IBM but they missed the opportunity & Paid 15000 times more
Eg: William Orton rejected an offer to buy Alexander Graham Bell’s telephone patent for $100,000 and described the invention as a “scientific curiosity” that would never have practical use.
Entrepreneurial behavior succeeds more often when performed by teams of complementary skills
A 30 year study found success increases dramatically with team size 4-5 entrepreneur founding the company
He observed that first-rate managers hire first- rate team but second-rate managers hire third-rate
Eg: Southwest Airlines – pilot, copilot & flight attendant clean the plane as they don’t want to waste money by hiring cleaning crew.
Eg: Sanjeev Bikhchandani, CEO of Naukri.com gave 5% to his brother while he wanted to buy server, 7% to programmer to develop a web-site and 9% to his friend for working with him
1. The quality of investors and the pace at which money flows
2.Venture capitalists and whether they can provide adequate access to more money downstream.
[ radical innovation ]
[ incremental innovation ]