The notion of entrepreneurism has gotten far away from helping people becoming business owners, according to Professor Lidow. We are all excited to reading about new companies that create enormous wealth in a short period of time. But, these are not the role models we need to have to help people understand what their real career choices are, and whether entrepreneurism is a good thing for them or not. Actually, all the conversation about startup unicorns has scared people away from considering becoming entrepreneurs.
“Slow and steady progress, keep on with experimentation and keep your eyes on the customer and their reaction. That is a very powerful formula.”
In this podcast we speak with Derek Lidow, speaker, entrepreneur, former CEO of iSuppli. Our conversation revolves around entrepreneurism, and Derek's new book Building on Bedrock: What Sam Walton, Walt Disney, and Other Great Self-Made Entrepreneurs Can Teach Us About Building Valuable Companies.
Why people create and set up companies? What is the definition of success?
"Success is achieving personal satisfaction through delivering solutions and happiness to customers, and asking for money in return."
Is it still possible to build giant, global businesses today?
"Yes, it is still possible. There are still many people today who build their companies the right way - using bedrock principles and values. The greatest chance for you to becoming a successful entrepreneur is in your late 30s, not in your early 20s."
Also, in this podcast:
- What is the most dominant way of creating businesses, economic growth and job creation?
- What are the fundamental principles of entrepreneurism?
- How to build sustainable companies, and businesses?
- What entrepreneurs need in terms of institutional support?
- Building on Bedrock details the stories of "bedrock" entrepreneurs. What is the favourite story of Dereck from his book?
- What is the top advice of Derek Lidow to someone thinking about becoming an entrepreneur?
To find out more about the work of Derek Lidow click here.