Being An Entrepreneur Is Never A Bad Time.

　　 Economics It affects all of us, but if you have a really great idea and believe it, it's a good time to set up a business.

A friend once said to me, "if you tell me something is impossible, my working hours will increase by 20 hours per week, and my IQ will increase by 20 points. In other words, I like good challenges.

This is what we live in. times It is full of challenges to entrepreneurs. The recession has caused many victims. But that doesn't mean you shouldn't think about starting a new business. It doesn't mean that you are doomed to fail.

　 Economics It affects all of us, but if you have a really great idea and believe it, it's a good time to set up a business. Remember, when you start an enterprise, especially a technology enterprise, it may take several years to really bring the product to market. So once your business starts, worrying about the current economic climate may not be meaningful.

No matter what the economic environment is, many people think that I should not set up my two companies. When I set up my first enterprise, Amati communication company (AmatiCommunications), the mainstream view was that telephone lines could never transmit video. Although most people think I'm crazy, I believe that high-speed and high volume transmission can be achieved by telephone copper wire.

Eventually, the technology of copper wire DSL (digitalsubscriberline, DSL) really came true, and Amati communications company finally sold it to TI (TexasInstruments) at a price of 440 million US dollars.

As for my current business ASSIA, people also think I'm crazy, though some people should be more mindful rather than skeptical. The usual criticism of ASSIA is that optical fiber is taking over the world now. DSL is a waste of time.

My response: people have talked about fiber entry for 30 years, and this idea is far from being realized. By contrast, DSL is a global market of $120 billion, which accounts for 70% of global broadband, beating the sum of cables and optical fibers. ASSIA's software helps DSL service providers make more efficient use of their DSL network.

As a successful entrepreneur, people often ask me how I know my thoughts are good. How do I know that they are strong enough to support a profitable enterprise? My conviction is that many good ideas have never been realized because they do not have the right economic motivation. What I mean by this is that you don't know if anyone really wants what you sell, or is willing to spend money on it. If this is the case, no matter how hot the market is, no matter how cool you think it is, do not start the business.

Another important consideration is time. Timing is very important, but entrepreneurs often ignore it. Is your idea right, but it appears at the wrong time? What skills do you need to turn your thoughts into products? Are these skills available? How long do you need runway to let your thoughts take off?

Even the best technicians and the brightest entrepreneurs tend to underestimate the time needed to turn their vision into a profitable business. As an old saying goes, it is known who is the forerunner after counting the arrows behind them.

One of the most important lessons I learned as an entrepreneur is that there is no fixed formula for starting a business. No degree in business or technology can make you an enterprise leader. But that does not mean that I am opposed to the formal education of entrepreneurs. Quite the contrary.

I have been teaching electronic engineering at Stanford University for many years.

I told students that as an entrepreneur, I used everything I learned in school. In fact, I hope I can learn more, so that I can use more. Truly good engineers, really good entrepreneurs, will take advantage of everything, because they know how to apply what they have learned in school.

Another thing that entrepreneurs need to learn is to trust their instincts. Never let others tell you that you are wrong, especially if you do not believe it yourself. If you believe that what you are doing is of technological and commercial significance, don't stop pursuing it. Do not doubt yourself just because the economic situation is bad or if someone else says you have gone wrong. According to my experience, people often listen too much to traditional wisdom, and these views are often incorrect. You can only stop when you think your idea is not working.

I have plenty of time to get along with engineers - active members within the company and as an association of electrical and electronic engineers. Engineers are especially good at knowing what is possible and what is impossible -- what works and what will not work. But as a group, we are not so good at some other things that outstanding entrepreneurs have. For example, engineers are usually control freaks. They like precision and preciseness. They like to accomplish things in a specific way. This is probably why engineers are so good at mathematics. But the need to keep control of the situation can not be well transformed into entrepreneurship.

The best entrepreneurs can let go and trust others. They knew they could not finish their own ideas by themselves. They are able to articulate their goals clearly and let them engage in efforts and execution without intervening. In my opinion, being able to use their own technical skills and having a high degree of creativity and openness, such engineers are some of the best entrepreneurs in the world. Look at David Packard (David Packard), Bill Gate and Steve Jobs. They have created some of the greatest enterprises in the world.

Another question is often asked: does the experience of entrepreneurs make me a better Engineer? Yes, it forces me to think ahead about how best to make use of my time and focus on those problems that are most likely to contribute to society. Nothing is more important than that.