GIKI Career 2010 Talk
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The document provides advice for pursuing entrepreneurship over the traditional career path of job after college. It discusses that entrepreneurs change the world by taking risks to innovate and create new businesses and jobs, though there is a risk of failure. It notes that many successful entrepreneurs and companies failed multiple times before succeeding, and encourages not being afraid of failure but instead learning from mistakes. The document recommends starting a startup in college to gain experience while reducing pressure, and provides several book recommendations for learning more about entrepreneurship.
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GIKI Career 2010 Talk
- 1. Hello!
- 2. I’m Muhammed Nasrullah aka Nash Batch 10, FCSE
- 4. I am founder and CTO of
- 5. Who I was: President ACM, Webmaster 2003-2005, FCSE Automation, Author of GIKI Yearbook
- 7. What other alternatives are there?
- 9. Entrepreneur: A person who organizes, operates and assumes risks for a business venture
- 10. That Means: They change the world
- 11. Entrepreneur: High risk, high innovation
- 12. Instability (aka No monthly paycheck ) High Risks:
- 13. Risk of Failure High Risks:
- 14. The Rewards:
- 15. Change the world Rewards:
- 18. Get rich doing it Rewards:
- 19. Why aren't there enough Entrepreneurs?
- 20. Failure.
- 21. Fear of Failure.
- 22. Innovation is tricky
- 23. The fairy tale: All successful companies you hear about never failed
- 24. The Road to Success is paved with Failure
- 25. “ I have not failed. I've just found 10,000 ways that won't work.” Thomas Edison
- 26. Took 50,000 tests to develop the nickel-iron alkaline battery still used 90 years later today
- 27. It took more than 2,000 tests to find the right filament for the light bulb.
- 28. Traf-O-Data
- 29. Bill Gates first company (it failed)
- 30. “ 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
- 31. Paypal was Max Levchin's 3rd company
- 32. The Facebook was not Mark Zuckerberg's first website
- 33. “ 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
- 34. Have you ever given a speech?
- 35. In order to succeed, learn to deal with failure
- 36. Be prepared to be disappointed by the market response Dealing with Failure:
- 37. Support system: family, spouse, friends Dealing with Failure:
- 38. Plan B (a job) Dealing with Failure:
- 39. Analyze what caused the failure Dealing with Failure:
- 40. It's only a failure if we fail to get the learning Dealing with Failure:
- 41. Great (free) ebook on dealing with Failure: Blue Screen of Death (Jawwad Farid – CEO Alchemya) http://bluescreen.alchemya.com/
- 42. My advice
- 43. Start your startup in your 3rd or 4th year
- 44. Pick a problem/area you are passionate about
- 45. Google started in Stanford's dorm room
- 46. Facebook did so in Harvard's
- 47. You can find great people to help you with it
- 48. Reduced pressure: can be done along with your studies
- 49. No financial obligation , you're just a student
- 50. Make your startup idea, your FYP
- 51. You will still benefit with the grade
- 52. Even if it fails, you will be successful (wiser, course grade)
- 53. Work Hard, Very Hard
- 54. The Harder You Work, The Luckier You Get
- 55. Stop satisficing
- 56. Never Miss an Opportunity to be Awesome
- 57. Have Faith: Believe in yourself
- 58. Do A lot with little The Bootstrapper’s Bible (Free) Seth Godin http://changethis.com/8.BootstrappersBible
- 59. Study Hard
- 60. If you don't read good books, there's no advantage over the illiterate
- 61. The Art of the Start by Guy Kawasaki http://bit.ly/cgFcRp
- 62. Do a startup
- 63. Don’t be afraid of failure
- 64. Change the world
Editor's Notes
- I’m here to talk about entrepreneurship and I’m going to talk about why it can be a viable alternative for you to consider when you graduate. I understand there is a lot of alumni here but my main focus was GIKI students. So if this seems irrelevant to you, apologies in advance. But maybe there are a few things here which you could learn from. So, without further ado, here we go
- ByteSense does custom software development and telecommunication software development
- How we are all bought up. The order of the last three might be changed but the items are more or less the same
- Things that haven’t been done before: TVs, mobiles, internet etc
- The main reason why most of us get a higher education is so that we can land a good job secure future.
- Huge come backs
- The most significant thing you can do
- The biggest reason
- But it would be better worded as “Fear of Failure”. I can bet that of all the people in this hall right now, a vast majority has not given public speeches. The reason is because we are afraid of going on stage, fumbling and looking like an idiot. Essentially, we are fear of failing publicly. But what if you were the world’s best speaker? If you knew that, you would step up and give a speech without any problem. But Because you are so afraid to try and find out, you will never know how good you actually are. So, if you’re not failing a lot in life, you’re either not very hardworking or you’re not putting yourself out there.
- Because there is no prior precedent, its very hard to say what will and will not work
- One of the reasons why we all believe that we can’t fail is that we’ve been told these fairy tales by the media about how companies make it big without a scratch. You hear about people in their early twenties who get rich quick and you might imagine you are not one of those folks.
- That’s the fact. The number of failures in the industry are astounding but we never get to hear about them. So, I’m going to talk about failure, something I believe I am very well versed with.
- One of the most famous people of all time, had the highest number of patents to his name.
- The idea is that you fail, learn and try the next thing
- Have you heard of this company
- Other examples
- To give you an idea, the world’s most successful startup hubs: the Silicon valley has a failure rate of 9 out of 10.
- Emotional and financial support. Be sure to have a “soul mate”
- You can kick and cry but not for more than a day. Ask a neutral third person about why you failed. Entreprenurs are very emotionally vested and it is hard for them to see clearly at times as to what is going wrong.
- The risks I talked about are very real but you can minimize them if you are at your university. If you have a startup idea, start while you are at GIKI.
- Mom and dad send the monthly paycheck
- FYP: Final Year Project
- You might think that with all the successful twenty year olds got it easy, but they all have worked 20 hour days and have been pushed to the braking point. If you are not the kind of person who believes in working hard, this is not for you.
- We do the minimal amount required to pass or to complete that degree and we don’t do the best we possibly can. This is real life and not a dress rehearsal. If you are not planning to give your best now, when are you?
- Don’t Repeat Your Self (DRY), Keep It Simple, Stupid (KISS)