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