Wednesday, July 16, 2008

Entrepreneurship = Defiance of Conventional Wisdom

Just came across a wonderful video of one of my favorites business man – Sunil Bharti Mittal.He brought digital telephones to India in early 1980s and then he started mobile revolution in 1990s. In this video, he shares his experiences as an entrepreneur and how he started his first company with $1500.

According to him, entrepreneurship is defiance of conventional wisdom. Small companies can take on big companies if they go for speed as compared to perfection. I truly agree with him on this point. Nobody can reach perfection on day 1. One has to get launch a ‘decent’ version of the production as soon as possible and then customize the product based on the feedback of the users. I am going through this experience currently. I release an ‘imperfect version’ (in my opinion) of the product yesterday and I hope to improve the product daily for the next few months till it reach perfection!

No comments: