“Take many risks, but be conservative in spending funding. That’s the advice that I would not only give to myself, but to today’s budding entrepreneurs.” Vinod Gupta.
Vinod Gupta is an exemplary success story. Born in India in 1946 he turned a $100 bank loan into a 680 million dollar company. Seeing a void in the B2B information space Gupta founded the list-compiling company InfoUSA.
In his role as the CEO of InfoUSA, which morphed into InfoGROUP, Gupta acquired other companies and created a juggernaut in the industry. Currently, Gupta’s investment firm Everest Group, provides venture capital to struggling entities and database startups using technology to maximize efficiency.
Ten keys to Gupta’s success:
1. Spend more time on planning and company longevity than day to day operations.
2. Market testing is critical. Any idea needs an audience.
3. On emerging technology:
The growth of AI and it’s use for managing databases will redefining data mining.
4. One habit for successful entrepreneurs?
Find ways to solve problems and leverage the productivity and longevity of
solutions already extant.
5. Always be doing cost-benefit analysis to keep track of investments.
6. Take advantage of new and existing technology.
7. Everybody makes mistakes, be sure to learn from yours.
8. One idea for a new business?
Automobile or driving simulators? Imagine the savings on instruction and
improvements in testing.
8. Read newspapers, stay informed.
9. Read “Managing” by Ed Geneen.
10. Favorite quote: ( from book above )
“take focus on the business, and if you are a businessman, don’t try to be a social activist”.
For details: gazetteday.com/2018/05/vinod-gupta-lessons-business/