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What is the key to success? (AP photo, file)
Copyright 2018 The Associated Press. All rights reserved.
Why do some people succeed and others fail?
An interesting question in all areas of life, including entrepreneurship and business. Here are the perspectives of two of his successes in business.
Mark Cuban: “Luck is a big part of everyone’s success. Shaq was giving me a hard time: “Oh.? “
Some believe they were “made by themselves” and succeeded (as Frank and Elvis sang beautifully).they did it their way,Minimize the impact of where they were born, the talents they were born with, the skills they were taught, their racial and socioeconomic status, family and caregivers, educational institutions, opportunities available, doors open, and social structures keep it down.
And then there’s the middle ground: a combination of talent, skill, discipline, effort, and luck. This means doing the best you can with the talents you have, the skills you can develop, the opportunities that are open (and some open on your own initiative), never quitting, and good luck.
why is this important? People like Mark Cuban, Shaquille O’Neal, and Warren Buffett didn’t rest on their laurels and qualities. They learned the skill and worked to use it. But they were also given training and opportunities to succeed in their chosen field. A door was open to them, but the same door may be closed to many. And they stood out from those who did test drive them, and from the general public who weren’t given the chance to test drive them.
Here’s the gist: No one could have predicted their genius and accomplishments before they proved it.They didn’t choose greatness based on a three-sentence pitch. selected.
This is also true for 94% of billion dollar entrepreneurs. They weren’t waiting for someone to nominate themselves as the winner and shower VCs, nor were they willing to accept the assumption that he needed VCs to win. They took control of their destiny and didn’t squander opportunities by handing over control to rarely successful venture capitalists. The world is fascinated by VCs, and the business press often raves about mirage VC unicorns (WeWork, Theranos, FTX), but these entrepreneurs have proven that real unicorns matter.
These high achievers have proven their potential as they were allowed to prove it. Would society be better off if everyone were trained to contribute their abilities to society, instead of allocating skills and educational opportunities to a few? Should we focus on a VC model that backs 20/100,000 ventures, or on skills that work for everyone?
My take: Skills-based entrepreneurial education ecosystems can do much more than top-down VC-based ecosystems. When does a business school dean ask the right questions, such as a skills competition or a pitch competition?