10 Winning Entrepreneur Insights That May Surprise You

Every aspiring entrepreneur would love to be the next Mark Zuckerberg or Jeff Bezos, but most have no idea what really sets these guys apart from all the rest. Conventional wisdom has them looking for a painful problem, a very large opportunity, and minimal competitive barriers to entry. In reality, most great entrepreneurs find these necessary, but not sufficient for the big win.

They think outside the box, with a sometimes surprising set of strategies, as outlined in a new book, “Think Bigger,” by Michael Sonnenfeldt. He has collected in-the-trenches intelligence and lessons from his TIGER 21 group of over 500 entrepreneurs and executives around the world. Each has amassed $10 million or more in personal assets, and is willing to share their insights with others.

Sonnenfeldt presents a rich array of strategies in his forty lessons from the trenches, including the following paraphrased insights that I find often overlooked or even rejected, based on my years of experience mentoring entrepreneurs:

  1. Experience at a first-rate company is really valuable. Good big companies provide the training, mentoring, and experience managing teams that entrepreneurs need, but can’t afford. In addition, you can learn much about business principles, and your own capabilities, from being surrounded by many intense, ambitious, and super-smart peers.
  2. Entrepreneurship is rarely about just making money. The best entrepreneurs are committed to fixing a problem, or advancing a purpose, and making money is only used as a validation of their insight. Any money made is typically poured back into the cause, rather than relished for a high-class lifestyle or extravagances by the entrepreneur.
  3. Self-control beats passion for long term satisfaction. Passion often leads to a need for instant gratification. Most successful entrepreneurs either learn or are born with the capacity to delay gratification for critical periods in their lives. Even after success, they use self-control to continue to live modestly, and plow their profits back into business.
  4. Think twice before investing with friends and family. Some are so self-centered that they see family and friends as an easy source of capital. Smarter entrepreneurs know that nothing can bring more embarrassment, resentment, and peril to relationships with people you love and respect than losing their money. Don’t jeopardize key relationships.
  5. You are never to smart or too old for a mentor. In case you think mentors are only for “wimps,” you should know that Bill Gates always revered the guidance he received from Warren Buffet on many corporate matters. Most successful business people, whether retired or still active, love to share the wisdom they gained from their own experience.
  6. Entrepreneurial skills can limit investing success. Entrepreneurs and investors are different kinds of people, inside and out. Smart investors diversify their exposure across multiple assets; if any one of these fails, they are still in the game. A true entrepreneur makes one big bet on a new and untested asset, normally against conventional wisdom.
  7. Apply business skills to solve social problems. Social entrepreneurship is on the rise, with the advent of Millennials and a total world view. Companies that pursue socially relevant goals as part of their mission have the potential to generate double-bottom-line results – a financial return as well as a social benefit. One plus one can now equal three.
  8. Skip conservative – be optimistic, even delusional.  The best entrepreneurs just believe they can make it happen – even though conventional logic would peg the risk as being off the charts. Professional investors dismiss founders who give “conservative” financial projections, and usually make less. Shoot for the moon – you may hit it.
  9. Surround yourself with people who are smarter than you. Too many entrepreneurs have a tendency to overrate their personal skills and wisdom, and seek out people who won’t challenge them. The smartest ones acknowledge their weaknesses, and find people who complement their skills, from whom they can learn and delegate authority.
  10. Resilience and determination generally beat IQ. We all know of successful businesses started by entrepreneurs who dropped out of school, while MBAs get no premium with investors. According to most experts, “street smarts” (experience) trump “book smarts” (intelligence) every time, especially if accompanied with a large dose of grit.

Whether you are already a seasoned entrepreneur, or just starting out, I recommend that you regularly strive to think bigger and outside the box, starting with the lessons from others who have been there and done that, and emerged successfully. We need you then to contribute to the next set of winning strategies for the next generation of entrepreneurs.

[“Source-alleywatch”]

Xiaomi Says It Shipped More Than 10 Million Smartphones Last Month

Xiaomi Says It Shipped More Than 10 Million Smartphones Last Month

HIGHLIGHTS

  • Xiaomi sold more than 10 million smartphones in India
  • It’s a record performance for the company
  • The company also reached a milestone in India

September was a big month for Xiaomi. The Chinese smartphone maker shipped more than 10 million smartphones last month across all the markets where it operates, Xiaomi’s chief executive officer Lei Jun said.

A thrilled and happy Jun, who shared the announcement, thanked employees and partners. The company also reached a major milestone in India. Roughly three years after entering the nation, Xiaomi’s vice president and India head Manu Kumar Jain said the company had shipped more than 25 million smartphones in the country.

The big jump in sales comes as people in South Asian countries including India begin to prepare for the festival season. In India, for instance, Amazon India and Flipkart have been cashing in on the festive season, giving customers lucrative discounts with sales past and sales to come. Xiaomi said last month it had sold more than one million handsets in just two days, a major improvement over its performance in the country last year, when it took 18 days to sell one million smartphones.

Even as Xiaomi has always been known as a company which plays very aggressively, offering some of the best hardware at the price point, the company has appeared more focused in the recent months. It recently launched the Mi Mix 2, a bezel-less smartphone, and Mi A1, its first Android One smartphone for markets like India.

The recent development will help the company better compete with Chinese smartphone maker Huawei, which recently posted better sales than Apple. The company shipped north of 73 million smartphones in the first two quarters of this year, averaging more than 12 million handset shipments in a month. According to marketing research firm Strategy Analytics, Huawei shipped 38.4 million handsets in Q2 2017, while Oppo shipped 29.5 million handsets. In comparison, Xiaomi had shipped 23.16 million handsets in the quarter that ended in June.

[“Source-gadgets.ndtv”]

How to Downgrade iOS 11 Beta to iOS 10

How to Downgrade iOS 11 Beta to iOS 10

HIGHLIGHTS

  • You can go back to iOS 10.3 from iOS 11 beta
  • The process is not as easy as installing iOS 11 beta
  • You need to connect your iOS device to a PC or Mac

If you are reading this, it means you probably downloaded and installed iOS 11 beta on your iPhone, iPad, or iPod touch and are regretting the decision. Switching back to an older version of iOS is not as simple as installing iOS 11 beta. We’ve always advised you to take a complete backup of your iOS devicebefore attempting adventurous things like switching to beta versions of iOS. If you did that, you don’t have much to worry about at all.

If you did not take a full back up, you may lose some data while downgrading to iOS 10. There’s a simple reason for this — you can’t restore your iOS 11 backup if your device is on iOS 10. So hopefully, you either backed up your device, or didn’t have any important data on the device you installed iOS 11 on. If you’re ready to revert to iOS 10 from iOS 11 beta, read on.

How to revert to iOS 10 from iOS 11 beta
These steps will help you downgrade to iOS 10 from iOS 11 beta.

  1. Be sure to check you have the latest version of iTunes.
  2. Now you need to download the iOS 10.3.3 beta restore image. This varies based on how you downloaded iOS 11 beta as there are separate links for developer beta, public beta, or Apple customer seeding. Most people – like those who followed our instructions – will have the public beta, so if you are not sure, stick to that version.
  3. You need to enter your Apple ID and password, log in, and download the image file.
  4. Connect your iOS device to your PC or Mac running iTunes.
  5. Now you need to put the iOS device in recovery mode: If you have an iPhone 7 or iPhone 7 Plus, press and hold the volume down and power button on your phone until you see the recovery mode (iTunes logo with lightning cable) show up on the phone. For older iPhones, iPad, or iPod touch, press and hold the power and home button until you enter recovery mode (iTunes logo with lightning cable) show up on the phone.
  6. Once the device is in recovery mode, iTunes on your PC or Mac will show a pop-up asking whether you want to restore to an older version. On Mac, while keeping the Option key on your keyboard pressed click Restore. On Windows, while keeping the Shift key on your keyboard pressed click Restore.
  7. Select the iOS beta restore image you downloaded in step 2.
  8. To remove the iOS 11 beta and return to iOS 10, click Restore.
  9. Now the wait begins. It takes a lot of time for the process to complete. Once the restore is done, you’ll have to enter your Apple ID and password on the iOS device.
  10. After that you can choose to set it up as a new device or restore from a backup to return to the state it was in before you upgraded it to iOS 11 beta.

Do you have any questions on downgrading from iOS 11 to iOS 10? Let us know via the comments.

For more tutorials, visit our How To section.

[“Source-gadgets.ndtv”]

UP Board Class 10 compartment, improvement exam 2017: 99.61% examinees pass

A significant 99.61% examinees of Class 10 of UP Board were declared successful in the improvement and compartment examination, the results for which were declared on Saturday.

A significant 99.61% examinees of Class 10 of UP Board were declared successful in the improvement and compartment examination, the results for which were declared on Saturday.

As per secretary of the Board Neena Srivastava, out of the total 16,465 students who had registered for the Improvement examination, 14,946 appeared and 14,921 cleared the exam, bringing the pass percentage at 99.83%.

Further, in compartment examination, 360 examinees were registered of which 308 appeared and 273 cleared the same pegging the pass percentage at 88.64%.

She further informed that the marksheets and certificates of such students would be made available through respective District Inspector of Schools (DIOS) and the students who cleared their Class 10 examination should not wait for the same but instead take admission in Class 11 by submitting a copy of result downloaded from board’s website.

The compartment examinations were held in Government Inter College (GIC) and Government Girls Inter College in all districts of Uttar Pradesh.

 

 

[source=hindustantimes]