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I started Idealab with a dream to make something like a modern version of Thomas Edison’s Lab where we could test ideas under one roof and then spin them off into separate companies. These companies would have their own management teams and their own equity pools, while at the same time benefitting from shared experiences and resources.
With lots of help from so many great people, my dream became a reality. We have come up with more than 5,000 ideas, started more than 150 companies, and had more than 50 successful IPO’s and acquisitions. We are most proud that we created more than 10,000 jobs and thousands of new entrepreneurs.
We learned lots of lessons - some great and some painful - and it’s my honor to share them with you here. If even one tiny bit of one of these lessons can help you be more successful, that would make me so happy. I love entrepreneurship, and hope that our lessons can help more companies and entrepreneurs to be successful and change the world in a positive way.
I am so grateful to all the people who helped me make the Idealab “experiment” work for these 25 years.
Sincerely,
Chairman and Founder,
Idealab
SAY NO.
This is very hard for an entrepreneur to do. And very hard for me to do. So, this is definitely one of those cases of “do as I say, not as I do”. Although I try really, really hard to do this.
It's very important, maybe more important, to say no to things, and pay attention to that, than what you say yes to.
And here is why.
As a start-up, your time is so valuable and you're trying to compete against someone who's doing lots of things usually and has more resources than you. So figure out what you can actually say no to; the opportunities you don't want to pursue, the countries you're not going to do business in, the people you're not going to work with, the opportunities you won't pursue.
Figuring what those, are and having it very clear to everybody in your company so that everybody understands, really can save you a whole bunch of heartache and a whole bunch of time. And really, really is important for entrepreneurial success.
Again, this is very, very hard to do. But very, very valuable.
Bill Gross discusses his entrepreneurial journey to solve climate change
SALT Voices: Bill Gross | Founder & Chairman, Idealab
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I started Idealab with a dream to make something like a modern version of Thomas Edison’s Lab where we could test ideas under one roof and then spin them off into separate companies. These companies would have their own management teams and their own equity pools, while at the same time benefitting from shared experiences and resources.
With lots of help from so many great people, my dream became a reality. We have come up with more than 5,000 ideas, started more than 150 companies, and had more than 50 successful IPO’s and acquisitions. We are most proud that we created more than 10,000 jobs and thousands of new entrepreneurs.
We learned lots of lessons - some great and some painful - and it’s my honor to share them with you here. If even one tiny bit of one of these lessons can help you be more successful, that would make me so happy. I love entrepreneurship, and hope that our lessons can help more companies and entrepreneurs to be successful and change the world in a positive way.
I am so grateful to all the people who helped me make the Idealab “experiment” work for these 25 years.
Sincerely,
Chairman and Founder,
Idealab
