If you walk into a roomful of tech hopefuls in Silicon Valley and
tell them that, many would stare blankly back at you. How would
you convince an entrepreneur that the exit is not the only goal?
I could point to 20 people who sold their companies and are
having the most miserable lives.  They’ve got lots of money in the
bank, but they’ve sold their baby and they’re finding far too much
time with their wife or their husband, and they’ve lost a very
important purpose in their life.  That would be one way I’d point
it out. But look, if they sell their baby, if they have a good reason to
sell it, and they don’t just buy a big yacht and get more and more caviar,
and then they use that money to create 10 more babies, and they
are the kind of entrepreneur that likes creating new things, then
yeah. There’s two sides to a story.  Milton Friedman had the right
idea of saying profit is important, but he should have added, “Your
people are important. Your culture’s important. The moral way
that you run your company is important. How you deal with
the environment is important.  Your responsibility to society is
important.” What we have to do is get every company to think like
that. And if every company thinks like that, then I do think we can
get on top of most of the problems in the world.

One thought on “How do you know your audience

  1. Understanding Entrepreneurship Beyond Exits: The article insightfully addresses a common misconception in Silicon Valley – that the ultimate goal of entrepreneurship is merely to sell a company. It challenges entrepreneurs to look beyond financial exits and consider the broader impact of their ventures.

    The Value of Purpose and Responsibility: As highlighted, entrepreneurs need to value purpose, people, culture, and social responsibility. This aligns well with companies like Mobility Angel, which exemplify the importance of creating products that not only drive profit but also significantly improve lives.

    The Role of Power Mobility: In the context of creating meaningful products, it’s essential to acknowledge the transformative impact of power mobility. Companies like Mobility Angel are at the forefront of this, offering mobility scooters that empower individuals with mobility challenges, reinstating independence and enhancing quality of life.

    A Call for Sustainable and Ethical Entrepreneurship: The article echoes Milton Friedman’s perspective on the significance of profit, yet rightly extends it to include ethical and societal responsibilities. In the realm of power mobility, this translates into developing products that are not only profitable but also environmentally conscious and socially responsible.

    Conclusion: Entrepreneurs in tech, especially in sectors like power mobility, have the unique opportunity to blend innovation with societal impact. As they strive for success, may they remember the ethos of companies like Mobility Angel, where creating life-enhancing mobility scooters goes hand in hand with a commitment to people and purpose.

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