Naveen Jain Ideas Quotations

How important is failure - yes, failure - to the health of a thriving, innovative business? So important that Ratan Tata, chairman of India's largest corporation, gives an annual award to the employee who comes up with the best idea that failed.

There are as many ways to help another human being as there are people in need of help. For some, the urgent need is as basic as food and water. For others, it is an opportunity to develop a talent, realize an idea, and reach one's full potential.

What separates sports from entrepreneurism, however, is that in business we constantly have to overcome undefined and unpredictable challenges. Athletes train for specific events and conditions, whereas entrepreneurs generally have little idea what they will encounter along the way.

Don't wallow in brainstorming. Time spent fiddling with a business plan or filling up whiteboards with ideas is time that you could spend actually launching your business and seeing if the idea floats. Launching gives you real, solid feedback, instead of the imaginary 'what if' scenarios dreamed up in a conference room.

Philanthropy is not about giving money but about solving problems. While well-meaning, the idea of writing a check and calling it 'philanthropy' is extremely short-sighted and, unfortunately, extremely pervasive.