What brings success? Is it hard graft or can you short circuit the years of work by just being a bit lucky?
That was the topic of a recent CfEL Enterprise Tuesday, where entrepreneurs Rahul Vohra and Shamus Husheer discussed what makes some businesses succeed when others fail. For the lazy amongst us, the unfortunate conclusion was that you need hard work as well as opportunity if you’re going to make it big. But you do need both – as Shamus pointed out, if hard work led to success, every woman in Africa would be a millionaire, and unfortunately they’re not.
Essentially you need to put yourself in the position to be lucky – so make sure that you are in the right place at the right time, and then grab the opportunity. For me the perfect example is Mark Zuckerberg and Facebook. He took an existing idea (a paper directory of students) and wrote an initially simple computer program to put it online solely for Harvard University students. As any programmer will tell you, Facebook itself isn’t the world’s most complicated piece of code, but it attracted users and the rest is history.
But look a bit deeper and there’s more hard work involved – Facemash, the first version of Facebook, was closed down by university authorities for breaching security, copyright and individual privacy and Zuckerberg was lucky not to be expelled. So he persisted, refined his idea and tried again. From Rahul and Shamus’s experience iteration is a key part of success – things aren’t necessarily going to work first time, but that doesn’t mean your idea is worthless. Other people came up with Facebook-like services but through hard work Zuckerberg’s got the users it needed to take off.
So, while it is an easy response to describe someone successful as ‘lucky’ you make your own luck in this world. Aspiring entrepreneurs need to make sure they are looking for opportunities, making intelligent guesses about what might be a success and then working hard to develop a product or service that customers actually want. Like a swan, ‘lucky’ people may look calm, but underneath the surface their legs are paddling very hard………
An unashamed plug this week for Idea Transform, an event I’m helping organise between 20-22 April 2012 (so just a week’s time, depending on when you read this).
Essentially Idea Transform aims to support people with bright ideas that use technology to benefit society in general – whether in the fields of healthcare, education, environment or the community.
While technology has lowered the barriers to turning ideas into reality, the majority of potential projects still come unstuck along the way – either because they are missing a crucial skillset or lack the mentoring support to help overcome inevitable hurdles.
Idea Transform will help these ideas through a combination of events and ongoing mentoring. The first weekend bootcamp event (20-22 April, Cambridge Judge Business School, tickets at www.ideatransform.org) will bring together those with ideas and people with business, development, marketing and creative skills to help them. People pitch their ideas on Friday evening, teams form and then work on ideas over the course of the weekend, before a high profile judging session on Sunday evening. Winners get the opportunity to develop their ideas through mentoring, support and the chance to potentially pitch for funding from the Cambridge Angels.
And for anyone worried that it will just be a weekend of hard work, there will be the chance to network, have fun, listen to high profile speakers and get advice from a team of experienced mentors. We’ve already heard about a whole range of ideas, from mobile health tracking using biometric technology to mobile and experimental maths learning to mapping the disused rail network so we can put it to better use, and there are bound to be many more pitched on the evening itself.
It promises to be an exhilarating, exciting and enjoyable experience – take a look at www.ideatransform.org and I hope to see you there.
- Owlstone, Raspberry Pi and Pneumacare join keynote speaker line-up! (ideatransform.org)
I had the privilege of being involved with helping to organise last weekend’s Cambridge Startup Weekend. Essentially a Startup Weekend brings together people with ideas and skills to create a new application in just 54 hours. People first pitch ideas and teams then form to work on the most popular ones. The idea is that some of these teams and applications then go onto become real, viable businesses.
Sound exhausting? It was. But what amazed me was the energy and enthusiasm amongst the 90+ delegates. Everyone was incredibly committed to the projects they worked on, despite the fact that they had only just met their team mates or come across the ideas. People were happy to work non-stop through Friday and Saturday night to achieve some pretty incredible things, learn loads and make lasting friendships.
This all made me think – just imagine if you could replicate this energy and teamwork within larger organisations. Innovation would skyrocket, as would morale as everyone worked towards the same goal, rather than in individual silos. Rather than going away on team building retreats/jollies, I believe innovation weekends are something every company should look at – or risk people with ideas just walking out the door.
- Cambridge Startup Weekend unearths new generation of talent (cambridge.startupweekend.org)
- Cambridge Startup Weekend set to find next generation of tech success stories (cambridge.startupweekend.org)