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Desh Deshpande urges entrepreneurs to get in the ring
7/31/2009

You have been a successful entrepreneur and are an avid coach of young entrepreneurs. What would you say to young, aspiring entrepreneurs who are considering launching a business right now?

This is a moment of great opportunity

Desh DeshpandeThe world has fundamentally changed in the last 5-10 years because of technology and connectivity. 10-15 yrs ago, all economies were local economies, but connectivity has opened up the potential to touch all 6 billion people around the world.

Over the next 30-40 years, we are going to see very significant changes – whether they are in technology, medicine, environment or other fields, and every change will be created by one or more entrepreneurs. Entrepreneurs have the opportunity to tackle really big problems in the world and change the world. This is a great time to be an entrepreneur.

Get in the ring

If you want to be an entrepreneur and harness this opportunity, you cannot sit on the sidelines. Entrepreneurship is like boxing. You have to get in the ring and get your nose bloodied, you have to react quickly while you are in the ring and adjust your tactics as you go along. You cannot sit on the sidelines and just learn from watching other boxers. Take the plunge.

Get Milestone Focused

Every great entrepreneur needs to be very focused. The entrepreneurial journey is like driving a car across the desert. Every moment you need to be focused on getting to the next gas station without running out of gas.

An entrepreneur should set deadlines – it gives them a sense of urgency and if things are not working out, then they should have the ability to change course quickly.

Build the right team

Entrepreneurs know their areas of core competence and hire around their weaknesses. Some people are good at creating the technical vision, others at building great products, while others thrive in sales and marketing, but rarely is an entrepreneur good at everything. You have to resist the temptation to do everything.

One of the most important aspects of building your team is the role of mentors – people who have done it before, people who can help you think through critical decisions and people who are invested in your success.

So choose your teams and mentors carefully!

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The Sleeper Must Awaken
7/25/2009


For too long, we have let innovations grow stale in our universities.
For too long, we have treated innovation as an academic exercise.
For too long, we have allowed others to commercialize our insights.

No longer.

We have become too complacent; too content with good to seek great. We have become too conservative to invest our time and capital into our dreams and innovations. As a result, we have the 3rd worst job creation record in the country since 2001.

“A person needs new experiences. They jar something deep inside, allowing him to grow. Without change something sleeps inside us, and seldom awakens. The sleeper must awaken.”

 

-Duke Leto Atreides, Dune, 1984

We are in the midst of a major economic inflection, in which innovators have an opportunity to transform whole industries and define the next generation of economic growth engines.

The current economic “crisis” is an enormous opportunity in disguise. Massachusetts has the strongest innovation and startup potential of any state in the country, and the country is in desperate need of new jobs and businesses.

This inflection represents an opportunity to regain and expand upon the glory of the “Massachusetts Miracle”. This is an opportunity to show the country and the world how to innovate and how to commercialize high-value ideas. This is an opportunity to use our expertise to spark the next wave of growth and optimism in America.

This is our opportunity. This is your opportunity.

How will you lead?

What will you create?

A revolution is coming. The sleeper must awaken.

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