Whenever we post a blog, we view it as an opportunity to take a step back and consider what we have learned about designing and manufacturing point of purchase displays. We also seek to share the knowledge we gain with others who continually strive to improve our industry. We are big fans of a weekly technology blog produced by Peter Diamandis.
Peter recently interviewed Bill Gross, CEO and Founder of Idealab, about the lessons he learned over the last 25 years during which he started 150 companies. Bill’s success as an incredible entrepreneur and business incubator has been well documented. Forty-five of the 150 companies have gone public or been acquired, while 60 of the companies failed. The key lessons learned come from both his successes and failures. We think the 9 lessons that Bill shares are very insightful and can help anyone who seeks to be successful in business.
Among the lessons learned Bill discusses the importance of solving a problem you deeply understand, the benefits of testing ideas quickly and cheaply, as well as structuring trial periods for potential new employees to test “Talent Fit.” Bill emphasizes the importance of passion, the criticality of timing, the magic of distributing equity to create an ownership mentality, the necessity of creating a culture that kills as well as nurtures ideas, and adaptability and flexibility as the most important attributes in CEOs.
These lessons learned are timeless and hugely relevant to entrepreneurs in any industry today. Check out Peter’s short but powerful interview with Bill Gross here.