Then Ms. Parveen got a $70 loan from Kashf and started a jewelry and cosmetics business, buying in bulk and selling to local shops. Ms. Parveen couldn’t read the labels, but she memorized which bottle was which. As her business thrived, she began to struggle to learn reading and arithmetic — and proved herself an ace student. I fired math problems at her, and she dazzled me with her quick responses.
Ms. Parveen began to start new businesses, even building a laundry that she put her husband in charge of to keep him busy. He no longer beats her, she says, and when I interviewed him separately he seemed a little awed by her.
Eventually, Ms. Parveen started a restaurant and catering business that now has eight employees, including some of her daughters. She bought a home and has put some of her children through high school — and a son, the brightest student, through college. She has just paid $5,800 for a permit for him to move to London to take a health sector job.
Ms. Parveen tried to look modest as she told me this, but she failed. She was beaming and shaking her head in wonder as she watched her son speak English with me, dazzled at the thought that she was dispatching her university-educated son to Europe. “Microfinance has changed my life,” she said simply.
That’s an unusual success story. But the larger message is universal: helping people start businesses, create jobs and support education is a potent way to undermine extremism.
”—Here’s a Woman Fighting Terrorism. With Microloans. - NYTimes.com
This article requires a mind-shift after following discussions on over-funding like that on Fred Wilson’s blog “But we are also seeing large deals ($5mm to $15mm) getting done in a few days with little or no due diligence.” Worlds apart but the $5M investments in tech to the $50 investments in people like Ms. Parveen matter.
Development and investment in the future are key. These investments now are going to change the world looks in 20 years.
6 things I wish I knew the day I started Berklee | Derek Sivers (via Instapaper)
“Do not accept their speed limit. Blow away expectations.”
The 11 Harsh Realities Of Being An Entrepreneur
Just over a week away from launching gtrot version 2.0 - this is a great article. Psyched for the launch but I know it’s just the beginning all over again.
4. Naughtiness
Though the most successful founders are usually good people, they tend to have a piratical gleam in their eye. They’re not Goody Two-Shoes type good. Morally, they care about getting the big questions right, but not about observing proprieties. That’s why I’d use the word naughty rather than evil. They delight in breaking rules, but not rules that matter. This quality may be redundant though; it may be implied by imagination.
Sam Altman of Loopt is one of the most successful alumni, so we asked him what question we could put on the Y Combinator application that would help us discover more people like him. He said to ask about a time when they’d hacked something to their advantage—hacked in the sense of beating the system, not breaking into computers. It has become one of the questions we pay most attention to when judging applications.
”—What We Look for in Founders: 5 Characteristics
Cheers to the misfits!
“After we realized that we just went onto the site and deleted that field - overnight there was a step function [change], resulting in $12m of profit a year, simply by deleting a field.
"We have found 50 or 60 of these kinds of things by using analytics and paying attention to the customer.”
”—Expedia on how one extra data field can cost $12m | Sales & Marketing | silicon.com
Have you checked in with your customers lately?
Excerpt from “Do More Faster” - Avoid Co-Founder Conflict by Dharmesh Shah
Great read for those just getting started with partners. Putting everything in writing makes it easier down the line.