Entrepreneurship

Consider a significant issue, something genuinely worth addressing, a problem whose solution would make the world a better place. The subsequent step is to identify who has this problem. If you find yourself to be the sole bearer of this issue, consulting a therapist might be a quicker and less expensive option than launching a startup.

Co-founder of Waze, GPS navigation app acquired by Google

I owned a US$500 million hedge fund when I decided to retire from Wall Street. On paper, I was on top of the world. Inside, though, something was missing. All of the money and material things in the world could never fill that void. It was painful to admit, but I had climbed up to the top of the wrong mountain.

Founder and Chairman of ONE Championship, premier Asian MMA organization

I do not approach challenges with the sole aim of targeting the largest customers in established markets to replace current players. Instead, I focus on the overlooked, marginalized customers who often find the products of big players unaffordable. By catering to them, that is how we initially found our foothold.

Founder and CEO of Zoho Corporation, cloud computing company

When you choose not to raise funds... think of it in terms of stages or ladders. These years give you knowledge capital, valuable relationships both within and outside the company, and other vital assets. From there, think of bootstrapping like a multi-stage booster rocket, where each stage propels and prepares you for the next, and the momentum continues building.

Founder and CEO of Zoho Corporation, cloud computing company

With a dedicated salesforce, stellar customer support, and solid products, you could capture a staggering 70% market share. The core philosophy? Deliver tangible outcomes for your customers.

Former CEO of Cisco Systems, led company through internet boom era

When it comes to acquisitions, many people jump straight to analyzing the financial returns. I approach it differently. I start by asking: How will our customers benefit from this acquisition?

Former CEO of Cisco Systems, led company through internet boom era

I believe the traditional perception, which posits that success is merely an accumulation of advantages while failure is an accumulation of disadvantages, is overly simplistic. It's the disadvantages that offer a more fertile ground for learning, albeit for a smaller cohort. The depth of learning and engagement derived from tackling difficulties is substantially richer compared to that gleaned from facing advantages.

Author of "The Tipping Point" & Popular Cultural Theorist

If you're aiming to compete for the same clientele as major banks like JP Morgan Chase, you're entering a highly competitive arena with slim profit margins. However, targeting a segment that such banks deem too risky or uninteresting presents a lucrative opportunity. We considered focusing on demographics or small-medium enterprises that were essentially deemed un-fundable by mainstream financial institutions. The idea was to make these groups profitable and easier for any entity, including banks, to underwrite.

Early customers are animated by belief, not utility. They buy for aesthetic reasons, not practical ones. There's an aesthetically superior future they co-create with the founders. You only want to talk to people who are primed to move to that different future with you.

Venture capitalist and early-stage investor, founder of Founders Fund

My favourite question when evaluating a startup idea is, 'Is this from the future?' I'm not interested in your ideas about the future; I want to understand why you are living in it today. Why are you living in a different future right now than other people are?

Venture capitalist and early-stage investor, founder of Founders Fund

Many great startup ideas fall into the 'sounds like a bad idea, is a good idea' category. In fact, most of them do. These are the most dangerous ideas—the ones that sound plausibly good but aren't. There was nobody desperate for a social network for sports fans, so it failed.

Venture capitalist and early-stage investor, founder of Founders Fund

If you want to have a great startup idea, don't try to think of a startup. If you focus on creating a startup, you'll be grounding yourself in the present, studying customers living in the present, their problems in the present, and their unmet needs in the present. You want to define a future market by living in the future.

Venture capitalist and early-stage investor, founder of Founders Fund

Most of the time, startup ideas don't work. Most of the time, the world stays as it is. The status quo has an advantage; it has a built-in upper hand. For a startup to win, it has to be not merely better than what's there; it has to propose something radically different, something that never could have existed before, something that can't be compared to anything that's happened.

Venture capitalist and early-stage investor, founder of Founders Fund

So, without thinking it through, I got a tourist visa and flew to Moscow. I didn't consider the repercussions or how risky it could be—I just did it. If Stein could go to Moscow, so could I. Others had gone there, and I knew tourists were allowed. So I went as a tourist, and we'd figure things out from there.

Tetris video game rights holder & Blue Planet Project founder

One of the most powerful business skills is the ability to listen, not just act. As entrepreneurs and business leaders, if we're going to focus on what truly matters, it starts with understanding what matters.

Founder and former CEO of Panera Bread Company

If you don't love the act of doing, you'll never find happiness. If your motivation is glory or money, you're bound to be disappointed. If you're more excited about lunch with investment bankers or the Harvard Club than dealing with the day-to-day realities—like working with bakers or being deeply involved in the entity—you'll end up unhappy.

Founder and former CEO of Panera Bread Company