A. Richard Newton Lecture (Gurbaksh Chahal) - SCET Berkeley
Sometimes we forget that businesses are started with relationships, and the desire to succeed, it comes from passion. "Entrepreneurship is like a roller coaster. it has its ups and downs. But it's your choice to scream or enjoy the ride." It takes a lot of guts and emotions to succeed in the business world. If you're passionate about something if you want to do it, you have every opportunity to have more of the good days to take on the next ride. "We create, we learn, we grow, we do, and we believe it's never too late to start a dream." "We take risks, we are focused, we hustle, we know that nothing is unrealistic." You cannot create a business just for the reason of selling the company. Fear is your worst enemy. Risk is your best friend. Insomnia will become your best friend.
Hierarchy of Success
3) Purpose - Make a Difference. Make a Dent
You have the ability to create your own reality. "It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change" - Charles Darwin. You and your company have to adapt to the change. Create -> Improve -> Evolve -> Innovate.
The idea vs the myth. The idea vs the action.
The idea is 1% of the journey, but the action actually composes the result of it. 99% is all pure EXECUTION. Be open to change and don't be afraid to go off in all sorts of unusual directions.
Quantity over Quality. Don't be frugal. Find the right people for the right jobs, and pay them what they're worth, whatever they deserve. Never keep yourself vulnerable, never make someone have control of something in your business that can make you vulnerable. Don't expect help from others until you realize you can give them something. The business world is primitive and it's about what you can do for them. If you don't bring anything to the party - don't expect any charity from someone to do a favor. There's growing pain you have to do the first time around as an entrepreneur. You own your stripes by going through the painful process of doing a lot of these things on your own until you can prove you can add value to others. Understand the difference between need and necessity. People will ONLY be impressed by your performance, absolutely nothing else. What matters most is how you see yourself. The #1 characteristic any entrepreneur will need to have is confidence. Confidence is key.
A real successful business is not run by algorithms but by relationships. Relationships are everything in life and most importantly the business world. Never burn a bridge. You never want to react in that way because you never know when you're going to meet that person in your life. Surround yourself around people that want to see you successful and hungry, If you learn this early on, success will repeat itself. Surround yourself with people who will go all out when you need to connect the dots. Culture is everything! Hire the right DNA for the company culture you're trying to create. Everything happens for a reason. Learn to accept rejection and embrace it. It will only make you stronger. I let the negative energy become positive energy. It means you have to try again if you failed. Always negotiate from a position of strength. If you need something from the other guy, you've already lost. People want what they can't have. Become the thing people want. Show people what they want to see and what they want to hear. Believe in yourself and SELL THE DREAM. No product is perfect - no sales pitch is perfect. Only opportunity is.