Vivek Wadhwa
Vivek Wadhwa
Vivek Wadhwa is an American technology entrepreneur and academic. He is a fellow at the Rock Center for Corporate Governance; the Director of Research at the Center for Entrepreneurship and Research Commercialization at the Pratt School of Engineering, Duke University; and the author of the 2014 book Innovating Women: The Changing Face of Technology...
NationalityIndian
ProfessionBusinessman
CountryIndia
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Despite what some investors say, older age is an advantage in the startup world. You know more about industries and markets, and have ideas for products that the world actually needs and a better ability to motivate and manage than a kid out of school does.
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In the technology world, you have to execute fast or you're out of business.
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You may not believe in anything called a work-life balance, but your body certainly does. You need to monitor and nurture your body.
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One of the biggest problems that software developers face is that technology changes rapidly. It is very hard to stay current.
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Hiring foreigners is more expensive and more difficult than hiring locals, because of the visa fees and long lead times for visa processing. And companies face a backlash by anti-immigrant groups for hiring foreigners. So they do it only because they have to.
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Building a company isn't that different from climbing a big mountain. You need people helping you traverse treacherous paths and to lift you up when you fall.
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I advise all of the entrepreneurs that I know to attend at least one entrepreneurship event every week. The worst thing an entrepreneur can do is to confine his or herself to a cubby hole.
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The lesson is, because there will be many lemons in life, to learn to make the proverbial lemonade - and be open and honest. That's the best way of doing damage control and positioning yourself for success.
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I realized that, after tasting entrepreneurship, I had become unfit for the corporate world. There was no turning back. The only regret I had was having wasted my life in the corporate world for so long.
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Recruiting talent is no different than any other challenge a startup faces. It's all about selling.
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Entrepreneurship is like a computer game in which you have to master every level before achieving success. Startups repeatedly stumble and have to go back to the drawing board. The best way to skip some levels and to increase the odds of survival is to learn from others who have already played the game.
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The harsh reality is that if you are middle-aged, write computer code for a living, and earn a six-figure salary, you're headed for the unemployment lines. Your market value declines as you age, and it becomes harder and harder to get a job.
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An open-minded and diverse population that readily shares information, encourages experimentation, accepts failure and dispenses with formality and hierarchy is what makes Silicon Valley the successful hub that it is.
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When I start getting embroiled in heated debates and feeling stressed, I just turn everything off and disconnect from the world. I simply tell my colleagues and friends that I am not well and need to cancel all meetings for a day or more. I take it easy - go for a long hike, take a vacation somewhere, or just stay at home and read.