Ina speech delivered at The Reed and Christine Halladay Lecture Series,Mr. Todd Pedersen (the founder of Vivint.Inc) gave a lecture onentrepreneurship. The American entrepreneur who broke out from schoolto start his own business highlighted some important business aspectsto consider for a successful venture. Vivint has grown to be thesecond-largest Security and Energy Company in America. With Consumerbase of more than half a million and more than five thousandemployees, the CEO had a lot to narrate. Here are the mainentrepreneurial highlights which can be taken from the speech.
Thereare lots of hardships that faces the initiation and the running ofbusiness. According to Todd, family and friends are the biggestproblem one encounters in the bid to establish an investment venture.More challenges are to the management of employees, resources andtime. To succeed, one must learn on the best formula for managing theelements.
Theworst mistake investors make is establishing a business with enormousprofit expectations. However, Todd stresses the importance of beingsatisfaction-oriented and not money oriented. The customer’ssuccess as well as personal satisfaction are critical as they are theultimate goals of success.
Todeliver, one must work hard enough and avoid the cocoon ofcomplacency. He stressed the importance of ensuring the efforts whichboost one’s ability to compete with the greats. Additional, onemust cope with time and technological advances. It is the adaptationto changes and hunger for success which makes his two billion dollarscompany going. Finally, the CEO emphasized the importance ofconsultancy. Through his consultancy with his father, it is then thathe realized the value of workers and hard-work.