Entrepreneurship : The road least taken

I’m Muhammed Nasrullah aka Nash Batch 10, FCSE I manage Gikipedia.net

I am CEO of ByteSense

Who I was: President ACM, Webmaster 2003-2005, FCSE Automation, Author of GIKI Yearbook

About Me: Who I am not

I am not a role model

I am not a success story

I am not a success story …yet

The Default Path Nursery School College University Job at Multinational Marriage Higher Education/Academics

Nursery

School

College

University

Job at Multinational

Marriage

Higher Education/Academics

What other alternatives are there?

Entrepreneurship

Entrepreneur: Creates a new business, process and technology for business

That Means: They change the world

Entrepreneur: High risk, high innovation

High Risk :

Instability

Risk of Failure

No monthly paycheck

The Rewards:

Change the world

Create jobs

Solve problems

Get rich doing it

Why aren't there enough Entrepreneurs?

Failure.

Fear of Failure.

Innovation is tricky

The fairy tale: All successful companies you hear about never failed

The Road to Success is paved with Failure

“ I have not failed. I've just found 10,000 ways that won't work.” Thomas Edison

Took 50,000 tests to develop the nickel-iron alkaline battery that became an industry standard and is still used today-more than 90 years later

It took more than 2,000 tests to find the right filament for the light bulb.

Traf-O-Data

Bill Gates first company (it failed)

“ Before Paul and I started the company, we had been involved in some large-scale software projects that were real disasters. They just kept pouring people in, and nobody knew how they were going to stabilize the project. We swore to ourselves that we would do better” Bill Gates

Paypal was Max Levchin's 3rd company

The Facebook was not Mark Zuckerberg's first website

“ Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking.” Steve Jobs

In order to succeed, learn to deal with failure

Be prepared to be disappointed by the market response

Plan for a backup

Support system: family, spouse, friends

Plan B (a job)

Analyze what caused the failure

It's only a failure if we fail to get the learning

My advice

Start your startup in your 3rd or 4th year

Google started in Stanford's dorm room

Facebook did so in Harvard's

You can find great people to help you with it

Reduced pressure: can be done along with your studies

No financial obligation , you're just a student

Make your startup idea, your FYP

You will still benefit with the grade

You will have worked on a Real project (used in the wild)

Even if it fails, you will be successful (wiser, course grade)

Work Hard

Very hard

Work Smart

Stop satisficing

Have Faith: Believe in yourself

Study Hard

If you don't read good books, there's no advantage over the illiterate

The Road Least Taken

Take the alternate path

Do a startup

Don’t be afraid of failure

Change the world