Important learnings at MIT that makes their alumni entrepreneurs and CEOS

Be better than before, than yesterday...

The author became a MULTIMILLIONAIRE.  Do you want to be one.  Just like him ?  (He became CEO of his company.)

I worked under one such grad when I became an EVP of Savings and Loan Assocation.   I used to hate him, but adjusted him and we became a friend in Land Rover club where we now show our own vehicles and as equals.  Learned a lot from him on leadership and management

Learning from MIT (an Ivy League School)

1.  Understand and love the system

 There were many hacks committed at the top of dome of MIT:   cars assembled on top, flags, and many more done by the students.  They beat the system and they had fun.

    You must love the system and then have fun.  You cant beat and hate the system.

(We have people who say we dont have system.

    Be even able to hack the system.  (Many do cross the line and become criminals.or our competitor)

2.  Firehose test.

    Students were exposed to loads of work that they cant seem to finish.   This develops ingenuity of what should          be finished.   You ask the question, how can I cope?

    It develops ingenuity.  

    1.  Time management

    2.  Prioritization

    3.  Cooperation and collaboration

    Effort  is NOT EQUAL TO  PURPOSE.

     Purpose is:

                 1  Impacful

                 2  Important

                 3.  Irreversible

   We have recruits who complain at slightest hint of hard work, and complexity

3.  Find the first principles

     Problems, challenges can be daunting.  Especially innovation.  Find the first principle.   Break down everything into basic parts.    And then it becomes easier.

     Steps:   Find   1.  Facts

                            2.  Aspiration (your goals)

                            3.  Do tests (experiments)

      Elon Musk used this in changing the business/rocket science.   He found out that

      single use rocket launches are very complex and expensive (NASA made it so)  and found out that rocket                  launchis only 2% of what NASA spends.  And from therEM built a multi million Space ex business

 4. Mind and hand approach

     Being practical.  Leave the academic and book part.  Do something practical

     FInd the MVP (Minimum Viable Product and improve on this)  An MVP is better 

     than no product at all.  You can improve a prototype but not on nothing.  Do it now 60% is better than doing it

     105% tomorrow

     Practice

     1    Building the product

     2.   Test

     3.  Go to the first principle

      At MIT they have a one month period where students do this to present to the VC.  And they end up owning new venures, financed by Venture Capital

  5.  You do not graduate alone even if you are the smartest guy in the room.  

      You need a team, you need collaboration. you need a mastermind.  though

     how smart you are.  John Maxmell term it as the Law of the Lid.  All of major

     discoveries and invention now are results of team effort.

     This idea makes you humble  and become less of pain in the ass. of others.    Your group becomes better

     and successful.