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Most successful entrepreneurs share their knowledge as a way of giving back. They do not demand compensation. Those who do are usually trying to take advantage of you.
Vivek Wadhwa
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Vivek Wadhwa
Age: 54
Columnist
Entrepreneur
Research Fellow
Writer
National Capital Region of Delhi
Back
Compensation
Take
Entrepreneur
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Successful
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Entrepreneurs
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Over the last 10 years, India's perception has gone from being a beggar country to an economic superpower.
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What the tech industry often forgets is that with age comes wisdom. Older workers are usually better at following direction, mentoring, and leading.
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The goal should be to build a sustainable lifestyle business that does good for employees and customers - and that steadily builds wealth.
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We live in the most amazing period in human history. We can have unlimited energy, unlimited food, provide education for everyone, clean water, all the things that have held mankind back.
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Almost every profession I look at where you require human labor or you require intelligence, I see computers being able to do better than us within the next 10 years. I'm talking about a mass replacement of humans with artificial intelligence and robots.
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Corporate executives and business owners need to realize that there can be no compromise when it comes to ethics and that there are no easy shortcuts to success. Their companies need ethics carefully sewn into their fabric.
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Business executives need to start by spelling out and communicating their values. Then they need to lead by example. This means getting rid of the bad apples and declining opportunities that bring instant wealth at the cost of selling one's soul.
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The natives of Silicon Valley learned long ago that when you share your knowledge with someone else, one plus one usually equals three. You both learn each other's ideas, and you come up with new ones.
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The most important skill of the future will be the ability to learn and adapt. You need to be resourceful, keep your eyes open for advances coming out of nowhere, and embrace the new opportunities as they emerge. You need to be able to collaborate with others and build relationships. You need to be able to share ideas, inspire, and motivate.
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We can either build a Star Trek future, in which our civilization rises to new heights, or descend into a Mad Max world. It is up to us.
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What you want in a mentor is someone who truly cares for you and who will look after your interests and not just their own. When you do come across the right person to mentor you, start by showing them that the time they spend with you is worthwhile.
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The truth is that entrepreneurship is more like a roller coaster ride than a cruise.
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No matter how well things are going, failure and disaster are just around the corner. So celebrate the good, but be ready for the bad.
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Doing the right thing doesn't always bring success. But compromising ethics almost always leads to failure.
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A key ingredient in innovation is the ability to challenge authority and break rules.
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Outsourcing was the bogeyman of the 90s. Protectionists portrayed it as an evil that would take American jobs away. Yes, some jobs did go offshore as people feared, but it made the global economic pie grow bigger.
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Most business schools are geared toward churning out investment bankers and management consultants.
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We must first get over the myth that older workers can’t innovate.
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The mentor-mentee relationship is ideally like that of the guru and disciple: motivated by the desire of the guru to impart knowledge to the disciple.
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