Tuesday, January 10, 2006

Desh Deshpande

Today in class, entrepreneur Desh Deshpande shared some insights on what made him successful. Below are the main bullet points I took away from the discussion:

* Need to stop saying, "There are so many problems," and instead say, "There are so many opportunities."
* Each time you fail, you increase the chance of success in your next endeavor.
* VC's look for uniqueness, not for the "best."
* As an entrepreneur, you must force the issue of money with VC's.
* When asked for 4-5 keys to success, Desh gave these:
1. Always work with great people.
- They set a new benchmark for you and push you harder
- Look for working with the best people over earning more money
2. Have fun in what you do.
- Never do anything like say you will work really hard for a number of years so the rest of your life is great. Make it great now.
3. Have the guts to quit if you are in a position in which neither of the two prior keys are present.
4. Maintain the financial freedom to quit.
- Either have a lot of money
- Or need less money
- Save money to create an entrepreneurial nest egg

The last point reminded me of the "Sex and the City" episode in which Carrie wants to buy an apartment and finds she has no savings, just hundreds of pairs of expensive shoes. Note to self: regardless of eventual career goals, STOP BUYING SHOES. And purses. And clothes. And the latest gadgets. And shiny objects. However, keep buying ridiculous toys for Scully. Those are totally worth it.


the write mom said...

You always make me smile. Thanks for the smile of the day.
And by the way.....it sounds like you were at a fantastic lecture.

Raja Ram said...

Well Noted. :) Your effort was useful.