Dear Entrepreneurs, last week we talked about GRE tests and MBA specializations. In today’s MBA Mondays, we are going to talk about something very interesting: entrepreneurship coupled with innovation.

It is a matter of great fortune and honor for students of MBA from University of California Berkeley’s Haas School to get valuable learning on entrepreneurship and innovation, as now they will have a chance to talk to one of the social media platform’s founders. 

Twitter Inc. co-founder has been elected as fourth new executive fellow at school after IDEO general manager Tom Kelley. Mr. Stone will share his experiences on entrepreneurship with faculty and students. As you all are here to become budding business leaders you all should have long term perspective on creating value. A business leader should take larger view of his business and his role. Mr. Stone is one of them. Innovation is the key to a successful business.

Here are some nuggets of advice:-

• It is a pride to be a self-made man. We are not always right. At times, our decisions and thinking could be wrong. We learn from our mistakes.
• As someone has rightly said, “Yesterday’s failures are today’s seeds. That must be diligently planted to be able to abundantly harvest Tomorrow’s success.”
• There is no perfect solution to any problem. You have to think innovatively every time.
• Learning is a never-ending process. Change is the only constant thing in life. There should be continual stimulation for ideas.
• Be creative and develop empathy. Step into the shoes of someone less fortunate. It will unlock passion and purpose you never knew you had.
• In absence of communication, the mind is left to speculate. Speculation is the mother of mistrust. A good communicator anticipates how their message will be received. A good listener sees what they hear in the light most favorable to the speaker.
• Therefore, the idea is to extend trust, in order to get the trust back. Be honest, open and truthful.
• Do not let your ego hold you back. Get your ego out of the way.
• Visualize your goals, define your goals clearly.
• Have proper approach to problems- If you want to be creative in finding solution to the problem, sit down, relax, and think.

Here are two things you can do to stimulate your creativity.

• Be clear about your goal. Write it down and make a plan to achieve it. Think of different ways you could accomplish it.
• Define your problems clearly and then make a list of all the possible solutions to your problem. Take action on at least one idea immediately.

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