entrepreneurship - the road least taken
Post on 17-Oct-2014
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This is a talk I gave at GIKI (www.giki.edu.pk) an engineering university in PakistanTRANSCRIPT
Entrepreneurship: The road least taken
I’m Muhammed Nasrullah aka Nash
Batch 10, FCSEI manage Gikipedia.net
I am CEO of ByteSense
Who I was:President ACM,
Webmaster 2003-2005,FCSE Automation,
Author of GIKI Yearbook
About Me: Who I am not
I am not a role model
I am not a success story
I am not a success story
…yet
The Default Path• Nursery• School• College• University• Job at Multinational• Marriage• Higher Education/Academics
What other alternatives are there?
Entrepreneurship
Entrepreneur: Creates a new business, process
and technology for business
That Means: They change the world
Entrepreneur: High risk, high innovation
High Risk:
Instability
Risk of Failure
No monthly paycheck
The Rewards:
Change the world
Create jobs
Solve problems
Get rich doing it
Why aren't there enough Entrepreneurs?
Failure.
Fear of Failure.
Innovation is tricky
The fairy tale: All successful companies you
hear about never failed
The Road to Success is paved with Failure
“I have not failed. I've just found 10,000 ways
that won't work.” Thomas Edison
Took 50,000 tests to develop the nickel-iron
alkaline battery that became an industry
standard and is still used today-more than 90 years
later
It took more than 2,000 tests to find the right filament for the light
bulb.
Traf-O-Data
Bill Gates first company(it failed)
“Before Paul and I started the company, we had been involved in some large-scale software projects that were real disasters. They just
kept pouring people in, and nobody knew how they were going to
stabilize the project. We swore to ourselves that we would do better”
Bill Gates
Paypal was Max Levchin's 3rd company
The Facebook was not Mark Zuckerberg's first
website
“Your work is going to fill a large part of your life, and the only way to be
truly satisfied is to do what you believe is great work. And the only
way to do great work is to love what you do. If you haven't found it yet,
keep looking.”Steve Jobs
In order to succeed, learn to deal with failure
Be prepared to be disappointed by the
market response
Plan for a backup
Support system: family, spouse, friends
Plan B (a job)
Analyze what caused the failure
It's only a failure if we fail to get the learning
My advice
Start your startup in your 3rd or 4th year
Google started in Stanford's dorm room
Facebook did so in Harvard's
You can find great people to help you with
it
Reduced pressure: can be done along with your
studies
No financial obligation, you're just a student
Make your startup idea, your FYP
You will still benefit with the grade
You will have worked on a Real project (used in
the wild)
Even if it fails, you will be successful (wiser, course
grade)
Work Hard
Very hard
Work Smart
Stop satisficing
Have Faith: Believe in yourself
Study Hard
If you don't read good books, there's no
advantage over the illiterate
The Road Least Taken
Take the alternate path
Do a startup
Don’t be afraid of failure
Change the world