Showing posts with label Apple. Show all posts
Showing posts with label Apple. Show all posts

Saturday, 27 August 2016

Stay Hungry, Stay Foolish


The greatest entrepreneur speech ever:

“Today I want to tell you three stories from my life. That’s it. No big deal. Just three stories.

The first story is about connecting the dots.

I dropped out of Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?

It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl.

So my parents, who were on a waiting list, got a call in the middle of the night asking: “We have an unexpected baby boy; do you want him?” They said: “Of course.” My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.

And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents’ savings were being spent on my college tuition.

After six months, I couldn’t see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life.

So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn’t interest me, and begin dropping in on the ones that looked interesting.

It wasn’t all romantic. I didn’t have a dorm room, so I slept on the floor in friends’ rooms, I returned Coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example:

Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn’t have to take the normal classes,

I decided to take a calligraphy class to learn how to do this. I learned about serif and sans serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can’t capture, and I found it fascinating.

None of this had even a hope of any practical application in my life. But 10 years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts.

And since Windows just copied the Mac, it’s likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backward 10 years later.

Again, you can’t connect the dots looking forward; you can only connect them looking backward. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.

My second story is about love and loss.

I was lucky — I found what I loved to do early in life. Woz and I started Apple in my parents’ garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4,000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired.

How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him.

So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.

I really didn’t know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down — that I had dropped the baton as it was being passed to me. I met with David Packard and Bob Noyce and tried to apologize for screwing up so badly.

I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.

I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.

During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the world’s first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple’s current renaissance. And Laurene and I have a wonderful family together.

I’m pretty sure none of this would have happened if I hadn’t been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don’t lose faith. I’m convinced that the only thing that kept me going was that I loved what I did. You’ve got to find what you love. And that is as true for your work as it is for your lovers.

Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don’t settle.

My third story is about death.

When I was 17, I read a quote that went something like: “If you live each day as if it was your last, someday you’ll most certainly be right.” It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: “If today were the last day of my life, would I want to do what I am about to do today?” And whenever the answer has been “No” for too many days in a row, I know I need to change something.

Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure — these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.

About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn’t even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months.

My doctor advised me to go home and get my affairs in order, which is doctor’s code for prepare to die. It means to try to tell your kids everything you thought you’d have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes.

I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor. I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. I had the surgery and I’m fine now.

This was the closest I’ve been to facing death, and I hope it’s the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept:

No one wants to die. Even people who want to go to heaven don’t want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.

Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.

When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand not far from here in Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960s, before personal computers and desktop publishing, so it was all made with typewriters, scissors and Polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: It was idealistic, and overflowing with neat tools and great notions.

Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970s, and I was your age. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: “Stay Hungry. Stay Foolish.” It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you.

Stay Hungry. Stay Foolish.”

Steve Jobs,
Stanford University Commencement address,
June 2005


Steve Jobs’ Top 10 rules of thumb

Great entrepreneurs don’t use rule books, but they do use rules of thumb:

Rule books are fixed. Rules of thumb are flexible.
Rule books put you in a box. Rules of thumb point you on a path.
Rule books instruct you. Rules of thumb inspire you.

All the ingredients of fast-growing companies - Creativity, culture, talent, team and trust - grow with the guidance of the right rules of thumb.

Here’s Steve Jobs’ Top 10:

Rule 1 - “Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.”

Rule 2 - “Design is not just what it looks like and feels like. Design is how it works.”

Rule 3 - “One of my mantras - focus and simplicity. Simple can be harder than complex.”

Rule 4 - “My model for business is The Beatles. They were four guys who kept each other’s kind of negative tendencies in check. They balanced each other and the total was greater than the sum of the parts. That’s how I see business: great things in business are never done by one person, they’re done by a team of people.”

Rule 5 - “Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.”

Rule 6 - “The only way to do great work is to love what you do. If you haven’t found it yet, keep looking.”

Rule 7 - “For the past 33 years, I have looked in the mirror every morning and asked myself: ‘If today were the last day of my life, would I want to do what I am about to do today?’ And whenever the answer has been ‘No’ for too many days in a row, I know I need to change something.”

Rule 8 - “Your time is limited, so don’t waste it living someone else’s life.”

Rule 9 - “Overthinking leads to negative thoughts”

Rule 10 - “Stay hungry, stay foolish.”

When you throw away the rule book, and write down your rules of thumb, you’re writing down your guiding principles. They give you a simple compass to follow instead of a complex map to remember. What are yours?

Proof that entrepreneurship doesn’t depend on your company size, but on your mindset

Proof that entrepreneurship doesn’t depend on your company size, but on your mindset: Here are the top five company comebacks - each from the jaws of billion dollar failures.

STARBUCKS

In 2008, Starbucks' over expansion into music, movies and too many loss-making stores led to an exodus of customers as quality fell. 977 stores closed and its stock price plummeted 80% from $40 to $7.83. In the midst of the crisis, founder, Howard Schultz returned as the CEO, saying Starbucks had “forgotten what we stand for.”

He refocused 100% on the coffee, closed all stores for a day to retrain the baristas, brought all 10,000 store managers to New Orleans to rediscover their sense of mission and purpose. As he says, “If we hadn’t had New Orleans, we wouldn’t have turned things around.” Since then, Starbucks has doubled in size and profitability, growing to over 23,000 stores, $16 billion in revenue and $3 billion in profit. Howard remains as both Chairman and CEO today.

NETFLIX

In 2011, Netflix announced: "We will no longer offer a plan that includes both unlimited streaming and DVDs by mail." forcing subscribers to join two separate services and pay $16 a month instead of $10. The massive backlash led to more than 800,000 customers quitting Netflix in a single quarter. Netflix’s stock plunging fell 77% in 4 months from $300 a share to around $65.

Founder, Reed Hastings, took personal responsibility for the miss-step and apologized, saying “I messed up. I slid into arrogance based upon past success. Inside Netflix I say ‘Actions speak louder than words,’ and we should just keep improving our service.” He reversed the changes, refocused the company on quality and the customer, launching original content like “House of Cards”, and over the next few years the company has recovered to be the fastest growing video streaming company with over $6 billion in revenue.

LEGO

In the late 1990’s, Lego lost money for the first time in its history, with its traditional blocks struggling against the rise of video games and other toy makers. Jørgen Vig Knudstorp stepped in as CEO in 2004, and says “When I became CEO, things had gone awfully wrong at Lego.” He began by refocusing the entire staff of 14,000: “We had to ask, ‘Why does Lego Group exist?’ Ultimately, we determined the answer: to offer our core products, whose unique design lets children learn systematic, creative problem solving - a crucial twenty-first-century skill. We also decided we want to compete not by being the biggest but by being the best.”

He began involving Lego fans in product development and rewarding ‘Super users’. The Lego brand was reignited, and Lego has now become the most profitable toy company in the world. As Jørgen says, “We used to be seen as a bit of a basket case. Our competitors were ten years ahead of us. Now we’ve passed them.”

APPLE

In 1997 Apple had lost its way, was in disarray and just a few months away from bankruptcy when Steve Jobs returned as Interim CEO. His first step shocked the Apple faithful: A $150 million deal with arch-rival Bill Gates to put Microsoft products on all Apple computers. The move sent a message to the market that Apple had to be a serious business that made smart commercial decisions, and rebranded Steve from being a dreamer and visionary to also a serious business leader.

He refocused the team, brought on Tim Cook from Compaq (who now leads Apple), and then began the chain of innovative product launches from the iMac, to iPod, to iPhone. Apple’s market cap grew from $3 billion when Steve Jobs returned to the company, to more than $740 billion today. It’s cash went from deficit to over $200 billion today: The biggest corporate turnaround in history.

TESLA & SpaceX

In 2008, both of Elon Musk’s companies, Tesla and SpaceX, were out of money and he was broke. As he says "I could either pick SpaceX or Tesla or split the money I had left between them. If I split the money, maybe both of them would die. If I gave the money to just one company, the probability of it surviving was greater, but then it would mean certain death for the other company. I debated that over and over.”

That was on top of his personal challenges: "You have these huge doubts that your life is not working, your car is not working, you’re going through a divorce, and all of those things. I felt like a pile of sh_t. I didn't think we would overcome it. I thought things were probably f*@king doomed.”

He went knocking on all the doors he could, getting Sergey Brin to put up $500,000 and Bill Lee to put up $2 million. Elon managed to pull together all the parts for a $40 million round of funding, but wasn’t able to close. Then, on Christmas Eve, SpaceX announced a $1.6 billion contract to SpaceX, and the Tesla deal closed hours before Tesla would have gone bankrupt.

Elon broke down in tears and said “I hadn’t had an opportunity to buy a Christmas present for Talulah or anything. I went running down the f*@king street in Boulder, and the only place that was open sold these sh%*y trinkets, and they were about to close. The best thing I could find were these plastic monkeys with coconuts—those ‘see no evil, hear no evil’ monkeys.”

He bought the monkeys, turned both companies around, and eight years later - in the last month -has reached new records with the sea landing of his Falcon 9 rocket and the largest product launch in history with the Tesla Model 3.

Each of these five comeback stories show that any company of any size can be turned around when approached with an entrepreneurial mindset. What would Steve Jobs do if he were in your shoes? What would Elon Musk do if he owned your company?

Shift your mindset, and set your mind free.

You’re never too small to start, never too big to fail, and it’s never too late to start again.

“I don’t measure a man’s success by how high he climbs, but how he he bounces when he hits bottom.” ~ George S Patton Jr.

Remember You network is your net worth

How valuable is your network? The Paypal Mafia is an extreme example of the phrase “your network is your net worth”.


When eBay bought Paypal in 2002, the founders of Paypal had an average age of 30. With the opportunity to go out and start again, they decided to stay in touch and share their strategies, experiences and connections as they launched their next businesses.

The result?

Elon Musk launched Space X and Tesla (Now worth $30 billion+)
Reid Hoffman founded LinkedIn (Now worth $25 billion+)
Peter Thiel launched Palantir (Now worth $20 billion+)
Steve Chen and Chad Hurley founded Youtube (Sold to Google for $1.65 billion)
David Sacks launched Yammer (Sold to Microsoft for $1.2 billion)
Russel Simmons and Max Levchin launched Yelp (Now worth $1.6 billion+)
Dave McClure founded 500 Startups (Invested in 1,300+ companies)
Premal Shah became president of Kiva (Crowdfunded 1 million+ microloans)

The founders sold Paypal for $1.5 billion 13 years ago, but as a result of sharing their journeys after that, they now have a combined net worth of over $20 billion.

Between them, they have created 7 billion dollar companies and invested in many more, generating over $100 billion in market value.

Supporting each other was the intention from the beginning. As Peter Thiel recalls, “When we started PayPal, I remember one of the early conversations I had with Max was that I wanted to build a company where everybody would be really great friends and, no matter what happened with the company, the friendships would survive.”

Your success will be determined not by how much you want to be successful, but by how many of the right people you connect around you who want you to be successful.

Your network is your net worth.

What can you do today to improve your network?
What can you do to add more value to the one you’re in?
How can you grow network value everywhere you go?

Today we live in a networked world. So thinking about growing network value is more important than ever. As Reid Hoffman says, “In the Networked Age, we’re all like the little kid from The Sixth Sense. If you’re not seeing networks when you enter a room, you might want to check your pulse.”

Mark Zuckerberg tells the story of when he asked Steve Jobs for advice

Mark Zuckerberg tells the story of when he asked Steve Jobs for advice:

"Early on in our history when things weren't really going well. We had hit a tough patch and a lot of people wanted to buy Facebook.”

“I went and I met with Steve Jobs, and he said that to reconnect with what I believed was the mission of the company, I should go visit this temple in India that he had gone to early in the evolution of Apple, when he was thinking about what he wanted his vision of the future to be.”

"So I went and I travelled for almost a month.”

Mark travelled to Kainchi Dham Ashram, in Nanital, Uttarakhand. The same place Steve had visited, and where he got clarity on his life purpose. For a month, Mark meditated in the temple and travelled through India.

“Seeing how people connected, and having the opportunity to feel how much better the world could be if everyone has a strong ability to connect reinforced for me the importance of what we were doing and that is something I've always remembered over the last 10 years as we've built Facebook.”

Mark returned from the trip, rejected all the offers for the company and committed to push on with his mission to “connect the world”.

That one piece of advice from Steve Jobs, that one decision to take action on it by Mark Zuckerberg - and leave his company and country for a month to follow it - has proven to be worth over $35 Billion as Facebook has grown to connect over one billion people today.

Today, who can you learn from?

Today, what action are you willing to take?

Earning always follows learning.

“I realized my mission in life was to learn more, not earn more.” ~ Surya Das

Apple just invested a billion dollars for one CEO in China, 33 year old Cheng Wei

This week Apple just invested a billion dollars in the youngest billion-dollar CEO in China, 33 year old Cheng Wei.

Cheng Wei started his car-riding company (now known as “Didi Chuxing”) in June 2012 when he was 29 years old. Today, at only 33 years old, his four-year-old company is worth $20 billion after Apple’s investment, eclipsing the size of Uber in China.

How does a young 30-something grow a business that fast in four years? Here’s 3 steps out of the many Cheng Wei took that you can follow today:

STEP ONE - START BY EARNING WHILE YOU’RE LEARNING

Before his new start-up, Cheng Wei worked for 7 years through his 20s at Alibaba. First in sales, and then with Alipay, the ‘Paypal’ of Alibaba. Without that experience, he wouldn’t have had the expertise and insight to create a Chinese car-sharing site at the same time Uber was starting in the US.

Unbelievably, despite starting a company that today enables over one billion car rides each year, Cheng Wei still hasn’t learned how to drive. But instead of seeing this being a handicap, he says it makes him his company’s ideal customer, as he needs to get rides everywhere he goes. So every day, he's learning as he takes rides with his company's customers.

STEP TWO - BE THE CONNECTOR OF GIANTS

Cheng Wei says the early days were anything but easy: “When the company was founded, we didn’t expect to face the cruelest competition, the strictest regulation, the most complicated games among giants and capitals, and the highest frequency of media exposure in history as an internet company.”

After struggling in the early years against many competitors and government regulations, Cheng Wei made a genius move a year ago, merging his company (then called Didi Dache) with his biggest competitor, Kuaidi Dache, in a $6 billion merger. This brought together the two company’s backers - the two biggest tech giants in China, Baidu and Alibaba, in one massive joint venture. By turning all his potential competition into allies, he eliminated his competition.

“Keep your friends close and your enemies closer.”

STEP THREE - STAY FOCUSED!

Today, Cheng Wei’s company has 99% share of China’s taxi-hailing market and 87% of the private-car hailing market. Didi Chuxing operates in 400 cities compared to Uber which is only in 45 cities.

How has Cheng Wei achieved this incredible domination? By staying focused (He only operates in China) and being mission focused: To help China to be more mobile. That’s what has attracted Apple to invest $1 billion this week, their biggest investment this year.

As Cheng Wei says ““The endorsement from Apple is an enormous encouragement and inspiration for our four-year-old company. Didi will work hard with our drivers, riders and global partners, to make available to every citizen flexible and reliable mobility choices, and help cities solve transportation, environmental and employment challenges.”

That single focus gives Didi a big mission riding on the big technological disruptions coming in the next decade: to help solve the pollution in Chinese cities.

As Cheng Wei said at the Global Mobile Internet Conference in Beijing last month: “Didi intends to build out an open platform with leading machine learning capabilities where ride share solutions, electric vehicles and self-driving technologies link up riders and drivers with different needs in a sustainable and inclusive urban ecology.

(As Didi’s official registered name is “Xiaojo” which means “Little Orange”, Didi later joked on Weibo that the real reason Apple invested was both companies were the names of fruit).

What lesson can you take from Cheng Wei? How can you earn while you learn? Who should you collaborate with today? And how can you have one, purposeful, focus so you can delete the rest?

Whether you are just getting started, in the early days of your business, or facing both external and internal growing pains, Cheng Wei’s 4-year, $20-billion, turbo-charged story has one underlying message:

Stay in the right gear at the right speed at the right time, and you can always accelerate out of trouble.

"There are no speed limits on the road to success." ~ David W. Johnson

UPDATE - AUG 1st: Cheng Wei has just made his biggest alliance to date - with his arch-rival, Uber. On 1st Aug Didi & Uber China announced a merger.

In the deal, Didi gets all of Uber's China operations and Uber gets 20% of Didi at a $35 billion valuation - which is a 75% increase in the $20 billion valuation when Apple invested $1 billion just 10 weeks ago (when I wrote the post above). Didi is also investing $1 billion in Uber at a $68 billion valuation.

The result will be that Uber will become the largest shareholder in Didi, and Didi will become one of the largest shareholders in Uber.

In the new economic paradigm, competition erodes value and collaboration adds value. What big competitor could you partner with today?

Sunday, 7 August 2016

3 Steps to $30 millions, Yahoo bought 17 year old Nick D’Aloisio’s iPhone app

This week Yahoo bought 17 year old Nick D’Aloisio’s iPhone app, Summly, for $30 million. When Yahoo was founded in 1994, Nick wasn’t even born yet.


What’s he doing with $30 million? As Nick says, "I can't even buy a car because I don't have a licence yet." So he’s going to buy a new bag. Why? “Mine is broken; it’s old and the strap’s not working.”


3 STEPS TO $30 MILLION


Nick’s app has delivered over 90 million news summaries in the four short months since he launched it on his 17th birthday in November. But Nick isn’t even old enough to be a Director of his company, so his mum is the Director while he sits in as Company Secretary.


What has gotten Nick to success so quickly in 15 months when so many of us are still struggling after 15 years? Here’s 3 steps his journey has in common with most super-success stories:


PROBLEM + PASSION = $300K SOLUTION


Nick’s Summly App was the solution to a real world problem that no one else was solving well. As Nick relates, “I was 15 years old and I was revising for some kind of history exam. The problem was I was trying to find information that was useful to me.”


Searching Google on his phone didn’t give him enough detail to know what was or wasn’t a useful link. So he put his own iPhone app together. The app quickly rose up the download ranks and Apple featured it in their store.


Then came a fateful email: “About a month later, the private fund of the Hong Kong billionaire Li-Kashing cold emailed me and expressed an interest to invest, but they didn’t realize I was 15...It turned out that they actually liked my age because it demonstrated I was net-native, so I’d only grown up with the Internet. They flew to London about a month later and invested $300,000. That kick-started this whole journey.”


$300K FUNDING + EXPERTISE = $1.3M REPUTATION


Nick used the money to bring in world experts to help relaunch the app. At 16 years old, he teamed up with the leaders in Natural Language Processing, Stanford Research Institute (Who create Apple’s SIRI - named after the company’s initials, SRI).


In between high school classes in London, Nick worked with SRI in the US by phone and text messages to build the new app. SRI’s solid reputation and Nick’s focus on approaching well known celebrities to help him attracted high profile investors Stephen Fry, Ashton Kutcher and Yoko Ono who invested $1.3 million. Nick made the most of his investors, with Stephen Fry starring in the launch video for Summly.


$1.3M REPUTATION + SINGLE-MINDED FOCUS = $30M STORY


With world class partners and world class investors, Nick gave up full-time school at the end of 2011, with his parent’s blessing: ““I talked about it with them and my headmaster and we decided it was a once-in-a-lifetime opportunity and it would be silly not to run with it. Now, looking back, I can say it was a massive gamble. But it was a good gamble.”


From a standing start to $30 million, Nick has taken the age old 1-2-3 formula of solving a problem in a smart way, then using the resources he attracts to bring in the best talent, and leveraging that to attract the most influential partners.


What made him think he could just go and knock on the door of the best companies and most well known people in the world? As he says "I was naive. I didn't know I couldn't."


Nick is now reflecting on this week’s news: “Numbing is probably the best word to describe it. It’s a shock to be honest. The only thing I can take from this is that I’m genuinely kind of proud that I’ve been getting a lot of tweets where young people are commenting and saying, “This is really inspirational, I want to go and start my own thing.”


How many of these 3 steps in the 1-2-3 formula have you taken in your business? What can you do to upgrade your product, your talent or your partners?


Or maybe it’s time to be a kid again, be naive again, when you didn't know you couldn't. And start something entirely new.

Winners never quit and quitters never win

In my 20's I would ask mentors what they thought the most important key to success was. They all had different opinions. Then one gave me the very best answer. He said "All the most successful people have many differences, but they only have one thing in common. They never gave up. The ones who gave up you don't see. You only see the ones who never gave up. So as long as you never give up, no matter what, you'll be fine."


"Winners never quit and quitters never win." - Vince Lombardi

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