Business Insights for Everyone

Today Rose House hosted a dinner conversation with the entrepreneur and Cornell alumni Michael Belkin, who came to speak to us about his career and his successes in business. Although the majority of the questions and discussion had to do with topics such as start-ups, business school, and app developments, Michael made a few points that I think are very wise and applicable to everyone, regardless of major or intended career path.

1. An insight that is particularly useful to us, as students: classes are more interesting if we take the material we are learning and try to see it through the lens of how we can apply it to the real world. In elementary, middle, and high school I recall asking my teachers (or listening as other students would ask) “When are we ever going to need knowledge of X or Y?” I feel like that question still resonates with students at the university level, and if we endeavor to make the connections between the classroom and the world, our academic pursuits can take on a whole new meaning and significance.

2. It is rare to start with an idea and end with the same one. Michael discussed how he had to adapt his vision, keep what worked, discard what didn’t, and be open to making changes as he developed his app. Having an open mind seems to be essential in all situations in general – our environment is constantly shifting, and to keep up and thrive we must be willing to make adjustments along the way.

3. Examine your assumptions closely. Bringing a concept to life successfully involves making many assumptions about the behavior of others. As shown by the lengthy list of assumptions that must be satisfied for Michael’s original concept to have been successful (i.e. members of the LGBTQ community will check in to a location upon arrival, app users will feel comfortable enough talking to other app users etc…), there are a lot of hypothesis that we must make about human behavior. Perhaps if we were more aware of the assumptions that we make in our daily encounters, we would increase our percentage of successful ones.

As a final thought, Michael mentioned that a “mistake” led to a new market for his app and greatly contributed to its success. I believe that this demonstrates (in addition to being an example of point 2, above) that hard work and good decision making will lead to success, even if it is in an unforeseen direction.

One thought on “Business Insights for Everyone

  1. This is a great summary of the event! I like the three points highlighted. I truly believe that everything happens for a reason and this “mistake” he made just further supports this belief! I strongly agree with point 2; most people start off thinking one thing and usually end up tweaking their original idea. I don’t personally know someone who can come up with an idea and have it be perfect the first time they think about it. It usually requires an alteration and then it becomes perfect.

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