A Quote by Vivek Wadhwa
The fastest way to get kicked out of a venture capitalist's office is to say that you want to build a business that grows steadily, focuses on employees, and creates wealth over the long term. Entrepreneurs with such ambitions are considered pariahs.
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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.
China's economy became more complex. By now there is a large number of small- and medium-sized companies that work quite differently from big, state-owned enterprises. They don't follow any long-term business plan and don't rent office space for years to come. They start out and need an office right away, for a week, a month or half a year, and they want to be among other entrepreneurs like themselves.
I'm a venture capitalist. I like to say my job is to help and support entrepreneurs. I can play a leadership role, but my organization can't be the leader.
Networking is all about connecting with people. But then again, isn't that what life is about? The more time you can find to get out of the office and build true friendships, the farther your startup will go. Entrepreneurs need to remember to spend as much time working on their business as they do in their business.
I don't think that Mitt Romney can legitimately say that he learned anything about how to create jobs in the LBO (leveraged buyout) business. The LBO business is about how to strip cash out of old, long-in-the-tooth companies and how to make short-term profits. All the jobs that he talks about came from Staples. That was a very early venture stage deal. That, you know they got out of long before it got to its current size.
The way we get past capitalism is by building on the healthy non-capitalist aspects of our world while we also do pitched battle with the capitalist ones that we have a fair chance of winning against. In that way we build a better world and shrink the destructive capitalist practices that are part of the social fabric.
At Venture for ,we've worked with hundreds of aspiring young entrepreneurs who want to build businesses and change things for the better.
You can build a filter app get people really excited, but the way to keep them is to provide long-term value. Long-term value is, in fact, being its own network.
The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.
Amazon deliberately provides cafeteria space for only a third of its employees, which encourages people to venture out of the office.
What I'm trying to do is to create excitement. So people looking at the Bloomberg's office building say, "My goodness, what's going on here? There's something different about this company." You want the employees to get psyched. And it's a chance to meet each other. My job is to get people to work together. With free food and no offices, even for Bloomberg, this might be considered one of the world's great corporate headquarters.
Some good employers provide people benefits. Many do not. The ones that do not tend to be the low end of the pay scale. This program will give those employers a way to support their employees. The employees will get this benefit, making it more likely that their employee will come back to them - that's a benefit for the employer over the long term and a benefit for the employee and all the while supporting families in their time of need.
Crowdpac is what I'm passionate about. I want to see it develop and grow, and I'm not really thinking anything except a long-term future for this business - but more importantly, for what this business can do for the long-term future of America.
Generally speaking, experience counts for something. So you'd expect entrepreneurs who've been through the ups and downs of a tech startup to have an advantage over the newcomers. Or at least have an equal chance at success. But in fact the opposite may be true. A number of venture capitalists I've spoken with have said that too many "old guard" entrepreneurs are not being bold enough in their business decisions, and it's hurting their startups.
Do more and understand that all wealth came from poor people either as the entrepreneurs or the consumers who buy the product that keeps the entrepreneurs in business.
When President Obama speaks about raising taxes on the rich, he speaks about high-income employees and small business owners, not entrepreneurs who build big businesses.
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