Hey EV readers 👋 

I hope you've had an amazing week so far! I've got something special for you - a delightful mix of insights that will quench your thirst for knowledge and help you power through another week of hustle and bustle. Enjoy!

The Last Interview of An Icon - Lessons From Steve Jobs 2010 D8 Interview

Once upon a time, Apple Inc was the Underdog, battling tech giants like Microsoft, Google, etc. So it wasn’t so surprising when the press made a big deal of the fact that Apple had surpassed Microsoft in Market cap. After he was introduced at the conference, Steve Jobs was immediately questioned on the matter. A little context here, at the time, Microsoft and Apple were engaged in a heated competition.

So yes, it was a big deal. But rather than give the press what they needed, Jobs turned the focus away from the Microsoft vs Apple debate with a few words “It doesn’t matter”. He began by saying Apple’s achievement was “surreal”, but it is not why customers buy Apple products, therefore it is not important.

What Jobs was saying is that Apple’s focus was on its customers and not its rivals. Jobs’ response proved why he was considered a marketing genius. Turning the focus back to Apple and its goal to satisfy its customers while belittling its rivalry with Microsoft gave Apple the “cool factor”.

But the interviewers weren’t going to give up. Why would they? After all the media thrives on controversies and rivalries. So it was unsurprising that the next question was about another tug of war. This time, it was Apple vs Adobe.

Context - Apple refused to integrate the Flash plugin in its iPad for various reasons including security, reliability, performance, and impact on battery life.

Being that this was a big deal then, one could see how it could impact sales of the iPad. But Jobs didn’t seem to bother about that. According to him;

The statement proves Apple chooses what cards to play carefully. If the company didn’t think a feature was very important, then it wouldn’t put its resources into trying to integrate it into its products. So it wasn’t about trends but importance. This has become an integral part of Apple even after it became a Trillion-dollar company.

Apple remains one of the few companies whose products follow a practical design point of view. They are not in a hurry to embrace trends or push out a product that is not market-ready in a bid to “Be the first out there”, as we’ve seen with many other tech companies.

It takes courage to take a stand like this, especially knowing you are going to face the heat from both rival companies and customers. Jobs knew this and he expertly spun the narrative, taking the focus away from Apple and focusing on its customers by saying;

Throughout the interview, Steve Jobs’ responses to sensitive questions were so accurate it almost seemed he had rehearsed them before the interview. But that self-assurance and confidence coupled with his aptitude for public speaking and smart thinking made it possible for him to cleverly avoid the well-laid traps of his interviewers. This is something every entrepreneur should emulate. Especially if you consider yourself a terrible public speaker.

Watch the full interview below

From High-paying Jobs To Co-founders of a 100 million-dollar Business - Here Is How They Did It

In an interview with The Entrepreneur, Whang and Erkel shared the story of their journey from the light bulb moment to the many challenges they faced and overcame along the way. Here is WHY they did it and 5 TIPS for those who want to follow in their footsteps.

100 million dollars later, the sisters shared tips that would help anyone who wants to follow in their footsteps.

#1. Don't quit your day job until you have some data or traction

If you want to go from a side hustle to a full-time founder, then you must know when to make the jump. This can be tricky. Too early and you risk being out on the street looking for a job, too late and your business may have to pay the price of your indecision. Whang’s advice is to wait until you see some traction in your business. By looking at the business’s KPI (sales, turnover, customer conversion rate, etc). You would know when the time is right. 

#2. Do build out a business model with your data and make an informed decision to take the leap 

With the data you have gathered, you can decide if you still have to hold on to your job for a while. Or if it is time to send in your resignation letter. You have the privilege of playing around with different business models and choosing the best one for your business, while you still have a job.

#3. Don't obsess about hyper growth anymore, but DO build a profitable business — it's still a business

It is normal to want to see your business grow, but what you shouldn’t do is become obsessed about it. The idea of overnight success is one most entrepreneurs relish. However, even overnight successes don’t happen overnight. There is work to be done and it is likely going to take some time before you see exceptional growth. This is why your focus should be on ensuring the business is profitable even if the growth is just incremental. 

#4. Don't kick yourself for failing

Treat failure as a guide and not a stop in your entrepreneurial journey. If every entrepreneur gave up once they encountered failure, then most businesses would not exist today. So you stumbled at some point, that is perfectly normal, learn from your mistake and move on. Don’t kick yourself or get discouraged. 

#5. Do learn from your mistakes and quickly pivot. 

If you want to succeed as a business owner, then you must make learning a priority. The plot twist is that some of these lessons will come from your own mistakes. Another advantage to making mistakes early on in your entrepreneurial journey is that you can quickly change the direction of your business. LePrix started as a B2C company before changing focus to sourcing instead of selling, and serving businesses instead of customers. So make mistakes, learn, and adapt as quickly as possible.

That’s all for now folks.

Until next time, stay inspired and keep chasing your dreams!

Cheers,

Alex