From 600+ conversations with the world’s leading thinkers.
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.
The reality is that most consumers aren't excited by incremental changes. To capture consumers' attention and make the market take notice, you need meaningful innovation—something genuinely new.
So many people say, 'Jacqueline, I would love to change the world- but I don't know my purpose yet…' Purpose doesn't come to people sitting at the starting blocks and thinking about purpose. You have to live it.
To be an entrepreneur, you need a love for process and to be comfortable with adversity. If you love process and you're comfortable with adversity, and if you love the journey over the fruits and riches of that journey- then you have what it takes to be a successful entrepreneur. Entrepreneurship is on a pedestal; everyone wants to be one. Here's the truth, it sucks. Entrepreneurship is hard and almost everyone loses.
Impact investing starts from the other end. It starts with an issue… this could be a problem, a social issue or so on. Impact investors start with an issue and then try to build a viable, sustainable financial model around that.
I learned zooming from Steve Jobs, it was something he practices all the time. Steve zoomed out to look beyond how industries are defined presently to see what the possibilities might be... You need to go beyond the defined description of an industry today, and look at it from all angles, and all contexts. Don't forget... entrepreneurship is about finding a better way.
I got into boxing promotion by accident. One of my cousins was a boxer, so I used to go watch him fight as an amateur and then when he turned pro. He had a fight, I went to watch it… he got beat and had a return match… he beat the guy… they had another match, but they wanted to pay them crap money. I went to the meeting, turned around and said, '…I don't need you, we'll promote it…' I don't know why I even said that! The next minute, I was in the promotion business and helping to get this thing together; I got bitten by the bug, and it went from there.
The fascinating part is how we've witnessed an industry sprout from virtually nothing, and now, the upcoming generation is impressively adept at understanding the true potential of being an influencer. For many Gen Z individuals, it's seen as a springboard for launching their own businesses.
My mother's unbelievable parenting in deploying enormous self-esteem and confidence meant I believed in myself in a way that was blind. The best entrepreneurs are the most optimistic and completely out of tune with reality right? Why would you do it otherwise. My father made me a word-is-bond, word-is-everything, shake a hand and stick to it kinda' guy. That combined with blind faith and belief has become an amazing concoction and something I live-off even today.
I've worked with many entrepreneurs and billionaires and I see the same trend over and over again. What they want is someone to manage the liquid side of their portfolio, and they want to take a huge chunk out and use it as their risk capital on things they know and can control. The money didn't just drop-in… it arrived through creation and building! These individuals are always going to be about growth….
The ability to bake your business over a longer period of time and become a stronger public company is therefore critical and is a driver for why they list with us.
Delegation is about giving the right people in your organisation the ability to excel at what they do, and in turn- to help you (as a company leader) to achieve the objectives of your enterprise.