From 600+ conversations with the world’s leading thinkers.
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.
In the early days it was controversy… I remember, back then, thinking that there was something good about not being acceptable to everyone… it made us stand out from the crowd, and courted press attention.
When I started out, there weren't many women in jewellery, and I hope that by creating a more open-minded approach to creativity and design, that I have been able to make a change on what was a very male dominated world.
Entrepreneurs that do it for greed of money fail. Entrepreneurship isn't about greed, it has nothing to do with that; what matters is personal freedom.
There are two different types of founders. A wartime founder – when things are tough, they act and a poor peacetime founder – it is really fun or nice to work for.
For the creator economy, NFTs represent a way for creators and producers of content to directly engage with the people who support them. It's a completely different model… a way for artists and creators to monetise much more effectively than incumbent platforms.
You need to hire people who are smart, ideally smarter than you. There's a reason Google, Apple and their peers are filled with PhD's. The smarter your team (whether academically, or in experience) the more they will deliver.
Never was wealth the driver for me. – it was always hey, there's a cool idea here, let's make something of it. It was nice to be well rewarded, but the interesting part was working the problem, thinking about new things and how to bring them forward from being ideas to being products or new ways of doing things.
A lot of entrepreneurs don't make that switch. They cling to that brand identity of 'I'm an innovator,' still tinkering with the product while everyone else is saying, 'Hey, it's good enough — let's hire our first salesperson.' So when you're not really thinking about the alignment between your role and your identity, that's when problems can start.
80% of self-made billionaires we studied made their mark in mature, competitive markets. They weren't all 'exactly' new products that came out – they were maybe a variation of a business model or existing product that pleased the customer in a different way. Think of Howard Schulz with Starbucks, or Sara Blakeley with Spanx for example.
By 2025, we're going to see 40-50% of all tech entrepreneurs being women, and that's good news.
In line with most highly-tuned talents, I absolutely believe that entrepreneurship is a genetic gift that you're born with. What you do with that gift depends on your upbringing, opportunities and inspirations; you either make them massively better or neglect them. That combination of genetics and sheer hard work is the 'secret' of getting to the top.