IQ EQ How about AQ
when you invest in companies
you have to decide where to invest how
do you take this decision
there are several elements the most
important element is peeping
and now the question is what is the most
important attribute for evaluating
managers or entrepreneurs
is it iq i used to ask this question
students at universities and i asked
them
what do you think iq important or not
important
now they are smart so they say hey if
you ask
probably the answer is that this is not
important
and i tell them you’re totally hungry
iq is important we want to see an ichan
at the team
now do we want to see everybody as an
einstein is a company where all the
employees or all the management are
einsteins with their creative success
you know the answer so iq is important
is important but clearly not enough eq
actually is much more important
what is eq eq is the emotional cruciate
this is the way you talk to people you
understand people you feel people
this is what really what will lead
people to go after you to come with you
into a way with many many uncertainties
this is your capabilities to talk with
investors to talk with them
with the customers and of course this is
very very important
so eq is essential but there is
something which is
even more important than eq and this is
eq eq
adversity quotient what is it exactly
let’s look at the life of a heightened
company
hide the company is functioning working
living as a roller coaster you are up
or down you are going to as entrepreneur
to go through very
difficult situations you’re going to see
many many disappointments
you might team with someone that is your
best friend you went together to the
kindergarten and to school
and to the army and to university you
you set
hours nights evenings days
weeks months and talked about how you’re
going to establish this company
and now comes the bedtime and one day
comes to you and say
hey jack i gave up this is too tough for
me
i’m going to work for facebook or
whatever it is this is tough
you’re going to see many other problems
other disadvantages many difficulties
many many knows
i’ll give an example of no you will
raise money raising money is going to
many many
potential investors and now comes this
meeting with investor which is the most
important one and you believe that
you’re going to get the money from him
you prepare the presentation
and you go over it and you fix it and
ask your friends what’s their opinion
and they tell you change everything you
change everything you go show it to you
friends you you present it to your wife
i then come today and you go to the
investor
and hey he’s late by 20 minutes and when
he gets into the room
he’s actually busy with his phone and
then after
25 minutes he stops the meeting and
saying you know it is interesting but
come to us back when you have revenues
i still remember the day that i went to
present one of my companies to investor
and he said come back to me when you
have profits
and you know what i wanted to tell him
if whenever i leave i’ll have profits i
don’t need to come to you
maybe you come to me at the inside
you’re going to see uh
situations when you need to fire
employees
and these are employees you worked very
hard to bring
this might be somebody that was loyal to
the company and came
every day the first one and you know his
maybe his wife gave birth three months
ago
how can you find but you will need to
fire such employees
and this is painful this is
heartbreaking
you will see customers complaints you
will see
legal suits you’ll see competitors
coming from the nowhere
with ideas directions requirements
surprises not the best surprises the
worst one
this is life of entrepreneur and the
question
is will you pass it or not
and i’ll bring a statement from the
great michael jordan
he said 26 times i’ve been
trusted to take the game-winning shot
and i missed i failed over and over and
over
again in my life and that’s why i became
successful
so to summarize we are looking for guys
who have aq who have the capability to
fail
because the question is not who is
failing the question
is who has the capability to fail
and get up on his feet
we are going we are looking actually
for entrepreneurs which are
the michael jordans of the high tech the
guys who are going to fail who are going
to face
very tough difficulties
but finally after all the difficulties
and the failures
to create a great success
thank you very much