Florida News
VC AND ENTREPRENEUR KANWAL REKHI FLOORS TiE MEMBERS, GUESTS IN GAINESVILLE, TAMPA
To say that he came, he spoke and he conquered them all would be an understatement. During networking events in Gainesville and Tampa in January, venture capitalist and entrepreneur Kanwal Rekhi left a lasting impression on members and guests of TiE Tampabay.
Here are a few snippets of the 69-year-old sage’s wisdom for entrepreneurs (in no particular order and paraphrased, of course) during the networking event in Tampa at Patel Center for Global Solutions at USF. Moderator was Tampa Bay Business Journal Editor Alexis Mueller.
Alfred Goldberg-TiE Charter Member, from left, Kunal Jain-TiE Tampa Founding President,
Kanwal Rekhi, Kamlesh Darji-TiE Executive Director, Ashok Kartham-TiE President,
and Ramesh Sambasivan-TiE Board Member.
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My approach to life … learn by associating myself with young entrepreneurs, listening to what they are thinking of doing. Then I apply my own knowledge. My perspective is I learn 10 times more than I teach. Since 1995, I’ve talked to 4,000 entrepreneurs and I travel 30 to 40 times a year, visiting different towns.
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There seem to be a lot of elements in place for entrepreneurs in the Tampa Bay area. All you need is for someone to light a fuse. Yes, stuff happens in Silicon Valley but something should happen here (Tampa) soon. You need a person who leverages.
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The Internet has led to job losses in several fields. Look at newspapers. Music business. Net is hurting industry after industry. Also, globalization has resulted in jobs shipped overseas. United States has been forced to become more productive. Net and globalization are making people entrepreneurs. Location is irrelevant since you can hire people anywhere.
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Only 2 percent of the population succeeds at entrepreneurship. Ninety percent of people don’t take that first step, show reluctance. But if you succeed, you are set for life. Also, only 11 percent of entrepreneurs ever raise money. Money helps but it’s not a crucial factor. You should be happy to get the dough to execute your idea. How fast you create value is what matters. Aim low and you are reaching for the moon, not the stars.
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Never bet on a business plan as an end. Always bet on a person – is he or she entrepreneurial? Technology and business plans always change. But a person doesn’t change. It’s about execution and the person making it happen.
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You can’t sit back and whine and blame others. Prove yourself, step forward. A person who blames others will never succeed.
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Entrepreneurship is a lonely journey. Friends abandon you, your odds of success are very poor. The entrepreneur gene is unevenly distributed. The fire should come from within.