From 600+ conversations with the world’s leading thinkers.
Much jitteriness in this recent crisis has come down to 'flying blind' – where investors and risk managers have been caught somewhat unaware, and do not have the visibility to make decisions with support.
Inventors shouldn't be afraid to take risks. They should embrace failure and learn from their mistakes. I created 5,127 prototypes of the first Dyson bag-less vacuum cleaner and only the last one was right! Not being afraid to fail is something I think all successful entrepreneurs have in common.
When I entered the telecom scene in India, in the early nineteen eighties, we had two million telephones for seven hundred and fifty million people. It used to take fifteen years to get a telephone connection. In a very short space of time, just twenty five years, we have seven hundred and fifty million telephones. We are adding ten million every month, month after month, and for the first time in the history of India- we are a connected nation of over a billion people.
The sleep revolution is finally hitting the workplace. It's not in full swing yet, but you can see the evidence all around. But now the business world is waking up to the high cost of sleep deprivation on productivity, health care, and ultimately the bottom line. I expect the nap room to soon become as universal as the conference room.
Everyone on the team strongly believes in the mission. This is the one thing we want to work on in our lives, and multiple people share that same sentiment. We've fallen in love with a very stubborn technical challenge. Convincing others is always hard—it requires conviction on both sides. What we've demonstrated is small-team speed: speed in hiring, speed in getting strong results, and speed in refining our intellectual understanding.
My fun statement is that if I see the same thing, three times in one week, from disparate news or information sources, I have to move quickly as it's a trend that's likely to happen.
I guess that's been my biggest quality – to understand what customer's want, 3 or 4 years ahead of time. That's more or less probably my biggest quality as an entrepreneur.
What's the business hip hop of this post pandemic world? Who's going to be the Rapper's Delight of the post pandemic world?
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.
Being an entrepreneur, an inventor, is about having ideas and having the doggedness to see them through… As an inventor your ideas should be based on creating a solution to a problem – a solution which focuses on function over form. Solving problems has been my life's work.
Being at that altitude though – 100 miles higher than the space station, enables you to see even more of the planet's curvature – it's a different viewpoint, a different experience and perspective – you truly felt like you were interacting with the environment, you felt like a real spaceman – it was extraordinary.
When I came back, it didn't take me and my brother long to see that this was a failing business. It had been making the same product since the 1930s. The business was dying.