Q. Good afternoon Verne and a warm welcome to Bangladesh, can you share the inspiration behind founding EO and your vision for its impact on the entrepreneurial world? While looking back, how do you see the journey? 

The enthusiastic journey of founding EO took a remarkable turn when I had the opportunity to host Steve Jobs for his first couple of speeches. As a visionary leader, he steered his endeavors to create a nearly 3 billion-dollar company. However, in the turbulent year of 1985, he was unceremoniously ousted. In 1986, I had the privilege of hosting an event attended by around 1200 young entrepreneurs. During that extraordinary gathering, Steve Jobs delivered a speech that was nothing short of inspiring, sharing the arduous journey of nurturing his brainchild, only to see it torn from his grasp.

One pivotal moment during that event resonated deeply with me—Steve’s remark that while it’s perfectly fine to be independent, there’s no compelling reason to tread the path alone. This profound statement fueled a passionate commitment within me. It was at that very instant that I resolved to establish an organization dedicated to serving not only Steve Jobs but also countless other entrepreneurs.

The journey towards the realization of this dream was nothing short of exhilarating. It took approximately a year to secure the necessary funding, assemble a founding board of exceptional individuals, navigate the bureaucratic paperwork, and finally launch our endeavor in 1987. Over the span of 37 years, this organization has blossomed into a global force, bringing together nearly 19,000 entrepreneurs from diverse corners of the world. They are already independent in their pursuits, but through EO, they are never alone in their entrepreneurial odyssey.

Q. Your effort has centered on helping companies scale. How does the Growth Institute cater to the development of budding entrepreneurs all around the world?

It’s a fascinating fact that roughly 11,000 startups spring to life every hour worldwide. This statistic underscores the abundance of new companies constantly emerging. I obtained an MBA, which equipped me with the knowledge needed to run large corporations. However, it became evident that there was a glaring gap in resources—much like a missing parenting manual—that could guide entrepreneurs in the art of growing and scaling their ventures.

Over a span of 15 years, I embarked on a journey at MIT within the framework of EO. This period was marked by intensive exploration, during which we sifted through a wealth of ideas, tools, and techniques. The aim was to streamline this challenging entrepreneurial voyage, making it more navigable and less daunting. In essence, our mission was to simplify the process of scaling up, surmounting various learning curves, and ultimately nurturing these businesses into maturity. It’s noteworthy that in the United States, only a mere 6% of companies manage to break through the million-dollar revenue milestone, underscoring the importance of the support and guidance EO provides.

Q. From your experience, what do you consider the most essential habits, practices or leadership that distinguish successful entrepreneurs from others, and how can aspiring entrepreneurs develop these qualities?

It all begins with a deep dive into the works of luminaries like Steve Jobs and Elon Musk. What stands out is their unwavering and almost unbelievable focus. Their approach is all about tackling one task at a time, ensuring its completion before venturing into the next. This philosophy is rooted in the profound research of Jim Collins, who famously outlined the path from being good to becoming great. His insights emphasize the critical trio of people, strategy, and execution. It’s this combination that propels a venture towards success.

However, the entrepreneurial journey is no walk in the park. It’s akin to keeping four plates spinning while simultaneously juggling four balls in the air. One must master the art of balancing and nurturing these critical elements, all while safeguarding against the looming threat of running out of financial resources. This ability to seamlessly manage and maintain these facets is, in essence, the magic of being an entrepreneur.

Q. In your view what are the unique values EO provides to entrepreneurs in Bangladesh? What role does EO play in fostering networking and knowledge exchange among Bangladeshi entrepreneurs and how does it impact their business growth considering the country’s specific challenges and opportunities?

Education is the cornerstone when it comes to empowering individuals and elevating them from their circumstances. An intriguing testament to the significance of education lies in Steve Jobs’ final decision before his passing—not to launch a new product, but to initiate Apple University. It was a powerful indicator that the company’s essence transcended his presence.

When Steve Jobs left us, it seemed like the end of an era. However, it was precisely in this context that EO’s essence came to the fore. It reinforced the idea that entrepreneurs are never alone, offering the vital training, development, and support necessary for scaling up businesses. EO provides a platform for like-minded individuals to convene and share their experiences, placing training and development at the forefront of our growth strategy. Additionally, we’ve evolved to offer an online and virtual university, extending our reach to companies that lack direct access to world-class leaders.

In the world of business, success hinges on people and networks. When embarking on a new venture, it’s imperative to identify the key individuals who can drive your goals. EO’s strength lies in its membership, which includes influential figures like Steve Jobs. We are a conduit for connecting entrepreneurs to the right people, irrespective of their location, be it in a city, a country, or across the globe. The core of our mission is the amalgamation of relationships, training, and development, ensuring that entrepreneurs worldwide never feel isolated.

Speaking specifically about Bangladesh, it’s inspiring to witness the remarkable growth in countries like Bangladesh, Vietnam, and Poland, which are among the fastest-growing economies globally. These regions are pivotal in manufacturing, and Bangladesh, in particular, has a rich history in this sector. The synergy of location, skilled labor, and a strong manufacturing legacy positions Bangladesh to harness a multitude of opportunities. This is why I am thrilled to be here, as I see a promising future unfolding.

Q. How do you see the future of entrepreneurship evolving in Bangladesh, and how does EO plan to adapt to these changes and continue supporting entrepreneurs in Bangladesh?

Absolutely, the beauty of our network lies in the diversity of our chapters spanning cities and countries. This localized presence allows us to truly understand the unique needs and dynamics of each region. EO members, being a part of their respective communities, are ideally positioned to grasp the intricacies of what’s required better than an outsider ever could.

What sets EO apart is our extensive and well-connected membership base. This means that for anyone looking to explore business opportunities in a place like Bangladesh, they have ready-made connections and insights at their disposal. Whether it’s seeking distribution channels or finding strategic partners in different countries, EO’s strength lies in facilitating these connections. We provide a vital bridge through our powerful combination of relationships, training, and development, effectively bridging the critical gaps that exist within the entrepreneurial landscape across the globe.

Q. What’s your perspective on the next catalyst for entrepreneurs and businesses across the world? Are there advancement of technologies, strategies, leadership or market shifts that you believe will significantly impact the entrepreneurial landscape?

Indeed, some fundamental aspects of human existence remain constant — the need for sustenance, shelter, and transportation. Yet, when we look at the technological landscape in 2022 and now, in 2023, with the advent of ChatGPT’s launch in February, we stand at the threshold of a remarkable transformation. Unlike other technologies that facilitate our creations, ChatGPT represents a monumental shift, as it possesses the unique ability to generate content autonomously. This signifies a pivotal moment that is poised to unleash a wave of entrepreneurial innovation centered around AI.

The economic potential of AI is awe-inspiring, and while investments in areas like self-driving cars have been substantial, the returns are yet to match the investment. Conversely, with AI that can generate, the landscape changes dramatically. Economists foresee the potential to save an astonishing amount of time, estimated at 3600 lakh hours. The profound impact of this creative technology is poised to permeate across various industries, creating new paradigms and reshaping the technological landscape in unprecedented ways.

For countries like Bangladesh, which are in the early stages of development, there’s a unique opportunity to leapfrog traditional stages of technology adoption. By leveraging this advantage, they can bypass the landline era and embrace cutting-edge technology directly. The application of technology in manufacturing, coupled with a youthful population, positions such countries to not only embrace new ideas but also seize the advantage of these innovations to drive progress and transformation.

Q. What’s your perspective on the next game changer for entrepreneurs and businesses globally? Are there emerging technologies, strategies, or market shifts that you believe will significantly impact the entrepreneurial landscape?

In my perspective, this is an exceptional era to embark on an entrepreneurial journey in our world. Consider the scale of our global economy, which has already reached an impressive 34 trillion dollars and is poised to soar even higher, potentially reaching 100 trillion or more in the coming years. This economic landscape offers ample opportunities for individuals to chart their path toward becoming billionaires or million-dollar success stories.

The exciting aspect is that you don’t have to navigate this journey alone. EO offers a robust network, coupled with comprehensive training and development resources, and unwavering support to help you seize these real opportunities. I’m genuinely thrilled to be here in Bangladesh, and I wish you all the best in your entrepreneurial endeavors. The world is brimming with possibilities, and with the right guidance and network, there’s no limit to what you can achieve.

Q. You do a lot of things besides your work like writing, music so how do you think that such energy comes from what you do?  

One compelling practice to remember is that if you limit your focus solely to your industry, you risk falling into the same patterns as everyone else within that sector. True innovation and creativity thrive when a mosaic of diverse ideas and perspectives from various industries converges. Therefore, engaging in a multitude of different ventures can be immensely beneficial.

As I’ve often witnessed, being involved in a wide array of activities and initiatives can positively impact not only each of those endeavors but also your own personal growth. It’s akin to Ted’s concept in his book, “Business is Happiness,” where he highlights the correlation between participating in different communities and happiness. The process of connecting with various groups provides not only a sense of fulfillment but also inner peace.

For me, each morning brings a fresh canvas filled with diverse entrepreneurial communities and the rich tapestry of relationships I’ve cultivated over time. These relationships, along with the blend of ideas and experiences from various domains, continually drive my journey of growth and innovation.

Q. What’s your perspective on the next game changer in terms of technology and entrepreneurial ecosystem? Is there something that you are excited about coming technologies?

Generated AI undeniably stands as a pioneering technology, a true game-changer in every sense. It possesses a unique capability that sets it apart, as it has the power to create autonomously. This innovation has prompted visionaries like Elon Musk to explore the development of brain-machine interfaces, facilitating direct communication with this AI.

What’s truly fascinating is the convergence of organic and synthetic elements, where the realms of humans and machines seamlessly merge to produce extraordinary advancements. This fusion of carbon and silicon represents a significant step forward, a harmonious relationship where mankind and technology work in tandem to achieve remarkable feats.I find myself devoid of worry because I place my trust in the collective intelligence of our interconnected world. I believe in the inherent drive within humanity, an interconnectedness that we’re only beginning to fathom. This is why I am confident that we are crafting the technologies required not just to survive but to thrive, adapting and evolving as needed. We have the potential to make monumental leaps toward our next destination, guided by the boundless possibilities that technology, especially Generated AI, has to offer.