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Top 10 lessons for becoming a successful entrepreneur — Naveen Jain

I’ve been an entrepreneur most of my adult life. Recently, on a long business flight, I began thinking about what it takes to become successful as an entrepreneur — and how I would even define the meaning “success” itself. The two ideas became more intertwined in my thinking: success as an entrepreneur, entrepreneurial success. I’ve given a lot of talks over the years on the subject of entrepreneurship. The first thing I find I have to do is to dispel the persistent myth that entrepreneurial success is all about innovative thinking and breakthrough ideas. I’ve found that entrepreneurial success usually comes through great execution, simply by doing a superior job of doing the blocking and tackling.

But what else does it take to succeed as an entrepreneur — and how should an entrepreneur define success?

Bored with the long flight, sinking deeper into my own thoughts, I wrote down my own answers.

Here’s what I came up with, a “Top Ten List” if you will:

10. You must be passionate about what you are trying to achieve. That means you’re willing to sacrifice a large part of your waking hours to the idea you’ve come up with. Passion will ignite the same intensity in the others who join you as you build a team to succeed in this endeavor. And with passion, both your team and your customers are more likely to truly believe in what you are trying to do.

9. Great entrepreneurs focus intensely on an opportunity where others see nothing. This focus and intensity helps to eliminate wasted effort and distractions. Most companies die from indigestion rather than starvation i.e. companies suffer from doing too many things at the same time rather than doing too few things very well. Stay focused on the mission.

8. Success only comes from hard work. We all know that there is no such thing as overnight success. Behind every overnight success lies years of hard work and sweat. People with luck will tell you there’s no easy way to achieve success — and that luck comes to those who work hard. Successful entrepreneurs always give 100% of their efforts to everything they do. If you know you are giving your best effort, you’ll never have any reason for regrets. Focus on things you can control; stay focused on your efforts and let the results be what they will be.

7. The road to success is going to be long, so remember to enjoy the journey. Everyone will teach you to focus on goals, but successful people focus on the journey and celebrate the milestones along the way. Is it worth spending a large part of your life trying to reach the destination if you didn’t enjoy the journey along the way? Won’t the team you attract to join you on your mission also enjoy the journey more as well? Wouldn’t it be better for all of you to have the time of your life during the journey, even if the destination is never reached?

6. Trust your gut instinct more than any spreadsheet. There are too many variables in the real world that you simply can’t put into a spreadsheet. Spreadsheets spit out results from your inexact assumptions and give you a false sense of security. In most cases, your heart and gut are still your best guide. The human brain works as a binary computer and can only analyze the exact information-based zeros and ones (or black and white). Our heart is more like a chemical computer that uses fuzzy logic to analyze information that can’t be easily defined in zeros and ones. We’ve all had experiences in business where our heart told us something was wrong while our brain was still trying to use logic to figure it all out. Sometimes a faint voice based on instinct resonates far more strongly than overpowering logic.

5. Be flexible but persistent — every entrepreneur has to be agile in order to perform. You have to continually learn and adapt as new information becomes available. At the same time you have to remain persistent to the cause and mission of your enterprise. That’s where that faint voice becomes so important, especially when it is giving you early warning signals that things are going off-track. Successful entrepreneurs find the balance between listening to that voice and staying persistent in driving for success — because sometimes success is waiting right across from the transitional bump that’s disguised as failure.

4. Rely on your team — It’s a simple fact: no individual can be good at everything. Everyone needs people around them who have complimentary sets of skills. Entrepreneurs are an optimistic bunch of people and it’s very hard for them to believe that they are not good at certain things. It takes a lot of soul searching to find your own core skills and strengths. After that, find the smartest people you can who compliment your strengths. It’s easy to get attracted to people who are like you; the trick is to find people who are not like you but who are good at what they do — and what you can’t do.

3. Execution, execution, execution — unless you are the smartest person on earth (and who is) it’s likely that many others have thought about doing the same thing you’re trying to do. Success doesn’t necessarily come from breakthrough innovation but from flawless execution. A great strategy alone won’t win a game or a battle; the win comes from basic blocking and tackling. All of us have seen entrepreneurs who waste too much time writing business plans and preparing PowerPoints. I believe that a business plan is too long if it’s more than one page. Besides, things never turn out exactly the way you envisioned them. No matter how much time you spend perfecting the plan, you still have to adapt according to the ground realities. You’re going to learn a lot more useful information from taking action rather than hypothesizing. Remember — stay flexible and adapt as new information becomes available.

2. I can’t imagine anyone ever achieving long-term success without having honesty and integrity. These two qualities need to be at the core of everything we do. Everybody has a conscience — but too many people stop listening to it. There is always that faint voice that warns you when you are not being completely honest or even slightly off track from the path of integrity. Be sure to listen to that voice.

1. Success is a long journey and much more rewarding if you give back. By the time you get to success, lots of people will have helped you along the way. You’ll learn, as I have, that you rarely get a chance to help the people who helped you because in most cases, you don’t even know who they were. The only way to pay back the debts we owe is to help people we can help — and hope they will go on to help more people. When we are successful, we draw so much from the community and society that we live in we should think in terms of how we can help others in return. Sometimes it’s just a matter of being kind to people. Other times, offering a sympathetic ear or a kind word is all that’s needed. It’s our responsibility to do “good” with the resources we have available.

Measuring Success — Hopefully, you have internalized the secrets of becoming a successful entrepreneur. The next question you are likely to ask yourself is: How do we measure success? Success, of course, is very personal; there is no universal way of measuring success. What do successful people like Bill Gates and Mother Teresa have in common? On the surface it’s hard to find anything they share — and yet both are successful. I personally believe the real metric of success isn’t the size of your bank account. It’s the number of lives where you might be able to make a positive difference. This is the measure of success we need to apply while we are on our journey to success.

Naveen Jain is a philanthropist, entrepreneur and technology pioneer. He is a founder and CEO of Intelius, a Seattle-based company that empowers consumers with information to make intelligent decisions about personal safety and security. Prior to Intelius, Naveen Jain founded InfoSpace and took it public in 1998 on NASDAQ. Naveen Jain has been awarded many honors for his entrepreneurial successes and leadership skills including “Ernst & Young Entrepreneur of the Year”, “Albert Einstein Technology Medal” for pioneers in technology, “Top 20 Entrepreneurs” by Red Herring, “Six People Who Will Change the Internet” by Information Week, among other honors.

Rethinking Education to Build Better Learners — Naveen Jain

My generation was the last one to learn to use a slide rule in school. Today that skill is totally obsolete. So is the ability to identify the Soviet Socialist Republics on a map, the ability to write an operation in FORTAN, or how to drive a car with a standard transmission.

We live in a world of instant access to information and where technology is making exponential advances in synthetic biology, nanotechnology, genetics, robotics, neuroscience and artificial intelligence. In this world, we should not be focused on improving the classrooms but should be devoting resources to improving the brains that the students bring to that classroom.

To prepare students for this high-velocity, high-technology world the most valuable skill we can teach them is to be better learners so they can leap from one technological wave to the next. That means education should not be about modifying the core curricula of our schools but should be about building better learners by enhancing each student’s neural capacities and motivation for life-long learning.

Less than two decades ago this concept would have been inconceivable. We used to think that brain anatomy (and hence learning capacity) was fixed at birth. But recent breakthroughs in the neuroscience of learning have demonstrated that this view is fundamentally wrong.

In the past few decades, neuroscience research has demonstrated that, contrary to popular belief, the brain is not static. Rather, it is highly modifiable (“plastic”) throughout life, and this remarkable “neuroplasticity” is primarily experience-dependent. Neuroplasticity research shows that the brain changes its very structure with each different activity it performs, perfecting its circuits so it is better suited to the task at hand. Neurological capacities and competencies are both measurable and significantly consequential to educational outcomes.

This means that the neural capacities that form the building blocks for learning — attention & focus, memory, prediction & modeling, processing speed, spatial skills, and executive functioning — can be improved throughout life through training. Just as physical exercise is a well-known and well-accepted means to improve health for anyone, regardless of age or background, so too can the brain be put “into shape” for optimal learning.

If any of these neural capacities are enhanced, you would see significant improvements in a person’s ability to understand and master new situations.

While these basic neural capacities are well known by scientists and clinicians today, they are rarely used to develop students into better learners by schools, teachers or parents. There is too little awareness and too few tools available for enhancing a student’s capacity and ability to learn. The failure to focus on optimizing each student’s neural capacities for learning is resulting in widespread failure of the educational systems, particularly for the underprivileged.

Gone are the days when you could equip students with slide rules and a core of knowledge and skills and expect them to achieve greatness. Our children already inhabit a world where new game platforms and killer apps appear and are surpassed in dizzying profusion and speed. They are already adapting to the dynamics of the 21st century. But we can help them adapt more methodically and systematically by focusing our attention on improving their capacity to learn throughout their lives.

This far-reaching and potentially revolutionary conclusion is based on recent research breakthroughs and thus may be contrary to the past beliefs of many teachers, administrators, parents and students, who have historically emphasized classroom size and curriculum as the key to improved learning.

Just as new knowledge and understanding is revolutionizing the way we communicate, trade, or practice medicine so too must it transform the way we learn. For students, that revolution is already well under way but it’s happening outside of their schools. We owe it to them to equip them with all the capabilities they’ll need to thrive in the limitless world beyond the classroom.

I believe that while it’s important to leave better country for our children, it’s more important that we leave better children for our country.

Naveen Jain is a philanthropist, entrepreneur and technology pioneer. He is a founder and CEO of Intelius, a Seattle-based company that empowers consumers with information to make intelligent decisions about personal safety and security. Prior to Intelius, Naveen Jain founded InfoSpace and took it public in 1998 on NASDAQ. Naveen Jain has been awarded many honors for his entrepreneurial successes and leadership skills including “Ernst & Young Entrepreneur of the Year”, “Albert Einstein Technology Medal” for pioneers in technology, “Top 20 Entrepreneurs” by Red Herring, “Six People Who Will Change the Internet” by Information Week, among other honors.

What’s Your Dream for the Future of California?

California Dreams Video 1 from IFTF on Vimeo.

INSTITUTE FOR THE FUTURE ANNOUNCES CALIFORNIA DREAMS:
A CALL FOR ENTRIES ON IMAGINING LIFE IN CALIFORNIA IN 2020

Put yourself in the future and show us what a day in your life looks like. Will California keep growing, start conserving, reinvent itself, or collapse? How are you living in this new world? Anyone can enter,anyone can vote; anyone can change the future of California!

California has always been a frontier—a place of change and innovation, reinventing itself time and again. The question is, can California do it again? Today the state is facing some of its toughest challenges. Launching today, IFTF’s California Dreams is a competition with an urgent challenge to recruit citizen visions of the future of California—ideas for what it will be like to live in the state in the next decade—to start creating a new California dream.

California Dreams calls upon the public look 3–10 years into the future and tell a story about a single day in their own life. Videos, graphical entries, and stories will be accepted until January 15, 2011. Up to five winners will be flown to Palo Alto, California in March to present their ideas and be connected to other innovative thinkers to help bring these ideas to life. The grand prize winner will receive the $3,000 IFTF Roy Amara Prize for Participatory Foresight.

“We want to engage Californians in shaping their lives and communities” said Marina Gorbis, Executive Director of IFTF. “The California Dreams contest will outline the kinds of questions and dilemmas we need to be analyzing, and provoke people to ask deep questions.”

Entries may come from anyone anywhere and can include, but are not limited to, the following: Urban farming, online games replacing school, a fast food tax, smaller, sustainable housing, rise in immigrant entrepreneurs, mass migration out of state. Participants are challenged to use IFTF’s California Dreaming map as inspiration, and picture themselves in the next decade, whether it be a future of growth, constraint, transformation, or collapse.

The grand prize, called the Roy Amara Prize, is named for IFTF’s long-time president Roy Amara (1925−2000) and is part of a larger program of social impact projects at IFTF honoring his legacy, known as The Roy Amara Fund for Participatory Foresight, the Fund uses participatory tools to translate foresight research into concrete actions that address future social challenges.

PANEL OF COMPETITION JUDGES

Gina Bianchini, Entrepreneur in Residence, Andreessen Horowitz

Alexandra Carmichael, Research Affiliate, Institute for the Future, Co-Founder, CureTogether, Director, Quantified Self

Bill Cooper, The Urban Water Research Center, UC Irvine

Poppy Davis, Executive Director, EcoFarm

Jesse Dylan, Founder of FreeForm, Founder of Lybba

Marina Gorbis, Executive Director, Institute for the Future

David Hayes-Bautista, Professor of Medicine and Health Services,UCLA School of Public Health

Jessica Jackley, CEO, ProFounder

Xeni Jardin, Partner, Boing Boing, Executive Producer, Boing Boing Video

Jane McGonigal, Director of Game Research and Development, Institute for the Future

Rachel Pike, Clean Tech Analyst, Draper Fisher Jurvetson

Howard Rheingold, Visiting Professor, Stanford / Berkeley, and theInstitute of Creative Technologies

Tiffany Shlain, Founder, The Webby Awards
Co-founder International Academy of Digital Arts and Sciences

Larry Smarr
Founding Director, California Institute for Telecommunications and Information Technology (Calit2), Professor, UC San Diego

DETAILS

WHAT: An online competition for visions of the future of California in the next 10 years, along one of four future paths: growth, constraint, transformation, or collapse. Anyone can enter, anyone can vote, anyone can change the future of California.

WHEN: Launch – October 26, 2010
Deadline for entries — January 15, 2011
Winners announced — February 23, 2011
Winners Celebration — 6 – 9 pm March 11, 2011 — open to the public

WHERE: http://californiadreams.org

For more information on the California Dreaming map or to download the pdf, click here.

Ray Kurzweil to keynote “H+ Summit @ Harvard — The Rise Of The Citizen Scientist”

With our growing resources, the Lifeboat Foundation has teamed with the Singularity Hub as Media Sponsors for the 2010 Humanity+ Summit. If you have suggestions on future events that we should sponsor, please contact [email protected].

The summer 2010 “Humanity+ @ Harvard — The Rise Of The Citizen Scientist” conference is being held, after the inaugural conference in Los Angeles in December 2009, on the East Coast, at Harvard University’s prestigious Science Hall on June 12–13. Futurist, inventor, and author of the NYT bestselling book “The Singularity Is Near”, Ray Kurzweil is going to be keynote speaker of the conference.

Also speaking at the H+ Summit @ Harvard is Aubrey de Grey, a biomedical gerontologist based in Cambridge, UK, and is the Chief Science Officer of SENS Foundation, a California-based charity dedicated to combating the aging process. His talk, “Hype and anti-hype in academic biogerontology research: a call to action”, will analyze the interplay of over-pessimistic and over-optimistic positions with regards of research and development of cures, and propose solutions to alleviate the negative effects of both.

The theme is “The Rise Of The Citizen Scientist”, as illustrated in his talk by Alex Lightman, Executive Director of Humanity+:

“Knowledge may be expanding exponentially, but the current rate of civilizational learning and institutional upgrading is still far too slow in the century of peak oil, peak uranium, and ‘peak everything’. Humanity needs to gather vastly more data as part of ever larger and more widespread scientific experiments, and make science and technology flourish in streets, fields, and homes as well as in university and corporate laboratories.”

Humanity+ Summit @ Harvard is an unmissable event for everyone who is interested in the evolution of the rapidly changing human condition, and the impact of accelerating technological change on the daily lives of individuals, and on our society as a whole. Tickets start at only $150, with an additional 50% discount for students registering with the coupon STUDENTDISCOUNT (valid student ID required at the time of admission).

With over 40 speakers, and 50 sessions in two jam packed days, the attendees, and the speakers will have many opportunities to interact, and discuss, complementing the conference with the necessary networking component.

Other speakers already listed on the H+ Summit program page include:

  • David Orban, Chairman of Humanity+: “Intelligence Augmentation, Decision Power, And The Emerging Data Sphere”
  • Heather Knight, CTO of Humanity+: “Why Robots Need to Spend More Time in the Limelight”
  • Andrew Hessel, Co-Chair at Singularity University: “Altered Carbon: The Emerging Biological Diamond Age”
  • M. A. Greenstein, Art Center College of Design: “Sparking our Neural Humanity with Neurotech!”
  • Michael Smolens, CEO of dotSUB: “Removing language as a barrier to cross cultural communication”

New speakers will be announced in rapid succession, rounding out a schedule that is guaranteed to inform, intrigue, stimulate and provoke, in moving ahead our planetary understanding of the evolution of the human condition!

H+ Summit @ Harvard — The Rise Of The Citizen Scientist
June 12–13, Harvard University
Cambridge, MA

You can register at http://www.eventbrite.com/event/648806598/friendsofhplus/4141206940.

Risk intelligence

A few months ago, my friend Benjamin Jakobus and I created an online “risk intelligence” test at http://www.projectionpoint.com/. It consists of fifty statements about science, history, geography, and so on, and your task is to say how likely you think it is that each of these statements is true. We calculate your risk intelligence quotient (RQ) on the basis of your estimates. So far, over 30,000 people have taken our test, and we’re currently writing up the results for some peer-reviewed journals.

Now we want to take things a step further, and see whether our measure correlates with the ability to make accurate estimates of future events. To this end we’ve created a “prediction game” at http://www.projectionpoint.com/prediction_game.php. The basic idea is the same; we provide you with a bunch of statements, and your task is to say how likely you think it is that each one is true. The difference is that these statements refer not to known facts, but to future events. Unlike the first test, nobody knows whether these statements are true or false yet. For most of them, we won’t know until the end of the year 2010.

For example, how likely do you think it is that this year will be the hottest on record? If you think this is very unlikely you might select the 10% category. If you think it is quite likely, but not very likely, you might put the chances at 60% or 70%. Selecting the 50% category would mean that you had no idea how likely it is.

This is ongoing research, so please feel free to comment, criticise or make suggestions.

Stanford MediaX: Semantic Integration, New Media, Data Visualization

MediaX at Stanford University is a collaboration between the university’s top technology researchers and companies innovating in today’s leading industries.

Starting next week, MediaX is putting on an exciting series of courses in The Summer Institute at Wallenberg Hall, on Stanford’s campus.

Course titles that are still open are listed below, and you can register and see the full list here. See you there!

————–

July 20: Social Connectedness in Ambient Intelligent Environments, Clifford Nass and Boris deRuyter

July 23: Semantic Integration, Carl Hewitt

August 3–4: Social Media Collaboratory, Howard Rheingold

August 5–6: New Metrics for New Media: Analytics for Social Media and Virtual Worlds, Martha Russell and Marc Smith

August 7: Media and Management Bridges Between Heart and Head for Impact, Neerja Raman

August 10–11: Data Visualization: Theory and Practice, Jeff Heer, David Kasik and John Gerth

August 12: Technology Transfer for Silicon Valley Outposts, Jean Marc Frangos, Chuck House

August 12–14: Collaborative Visualization for Collective, Connective and Distributed Intelligence, Jeff Heer, Bonnie deVarco, Katy Borner

————-

The Lifeboat Conversation

Many years ago, in December 1993 to be approximate, I noticed a space-related poster on the wall of Eric Klien’s office in the headquarters of the Atlantis Project. We chatted for a bit about the possibilities for colonies in space. Later, Eric mentioned that this conversation was one of the formative moments in his conception of the Lifeboat Foundation.

Another friend, filmmaker Meg McLain has noticed that orbital hotels and space cruise liners are all vapor ware. Indeed, we’ve had few better depictions of realistic “how it would feel” space resorts since 1968’s Kubrick classic “2001: A Space Odyssey.” Remember the Pan Am flight to orbit, the huge hotel and mall complex, and the transfer to a lunar shuttle? To this day I know people who bought reservation certificates for whenever Pan Am would begin to fly to the Moon.

In 2004, after the X Prize victory, Richard Branson announced that Virgin Galactic would be flying tourists by 2007. So far, none.

A little later, Bigelow announced a fifty million dollar prize if only tourists could be launched to orbit by January 2010. I expect the prize money won’t be claimed in time.

Why? Could it be that the government is standing in the way? And if tourism in space can’t be “permitted” what of a lifeboat colony?

Meg has set out to make a documentary film about how the human race has arrived four decades after the Moon landing and still no tourist stuff. Two decades after Kitty Hawk, a person could fly across the country; three decades, across any ocean.

Where are the missing resorts?

Here is the link to her film project:
http://www.freewebs.com/11at40/

Gulches — freedom lifeboats

Jim Davies of Strike the Root writes about Galt’s Gulch and some gulch-like projects. These appeal to him because of the exponential trends in government power and abuse of power. He writes, in part,

“We have the serious opportunity in our hands right now of terminating the era of government absolutely, and so of removing from the human race the threat of ever more brutal tyranny ending only with WMD annihilation–while opening up vistas of peaceful prosperity and technological progress which even a realist like myself cannot find words to describe. ”

http://www.strike-the-root.com/91/davies/davies11.html

Avoiding those terrible events is what building our Lifeboat is all about. Got Lifeboat?

DIYbio.org

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DIYbio is an organization that aims to help make biology a worthwhile pursuit for citizen scientists, amateur biologists, and DIY biological engineers who value openness and safety. This will require mechanisms for amateurs to increase their knowledge and skills, access to a community of experts, the development of a code of ethics, responsible oversight, and leadership on issues that are unique to doing biology outside of traditional professional settings.

What is DIYbio in 4 minutes?

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Get in contact or get involved through discussions on our mailing list, or by attending or hosting a local DIYbio meetup.

The mailing list is the best way to find out what’s happening with DIYbio right now. There is also a low-traffic announce list.

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