The Dream by Gurbaksh Chahal

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February 2010 February 2010 “The Dream - Key Lessons from the world’s youngest self-made millionaire
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The presentation contains key lessons from the book "The Dream" written by Gurbaksh Chahal. This guy is really awesome and his thought process is very clear...keep things simple !!!

Transcript of The Dream by Gurbaksh Chahal

Page 1: The Dream by Gurbaksh Chahal

February 2010February 2010

“The Dream - Key Lessons

from the world’s youngest self-

made millionaire”

Page 2: The Dream by Gurbaksh Chahal

Personal Details – “G”$ Name: Gurbaksh Singh Chahal

$ Known as: “G”

$ DOB: July 17, 1982

$ Profession: American entrepreneur, author, TV personality, motivational speaker, and self made multi-millionaire

$ Education Qualification: High School (drop out)

$ First Company: Started his first venture, ClickAgents (On December 15, 1998 at the age of 16). Sold the company for $40 Million at the age of 17.

$ Second Venture: Started BlueLithium (on January 12, 2004 at the age of 22). Sold the company $300 million in cash to yahoo on October 15, 2007.

$ Third Venture: formed gWallet, a virtual currency platform for social media, in September 2009.

$ Website: www.chahal.com

Page 3: The Dream by Gurbaksh Chahal

The Dream

• This is the most interesting book on management lessons and an biography, I have ever read.

• I have already recommended this book to everyone in my network.

• In order to spread the key lessons from the book, I tried to put them into this presentation.

Hope you will enjoy them, but still recommend you to read

the book too!!!

Page 4: The Dream by Gurbaksh Chahal

Always surround yourself with people who want you to succeed. That seems simple on surface, but when you get out there, in the real world, you will discover that

most people are rooting for you to fail. STAY AWAY FROM THEM”

Lesson 1

Source: www.stmarksonthemesa.org

Page 5: The Dream by Gurbaksh Chahal

Lesson 2

Whatever you do, wherever you are, never forget that GOD IS WATCHING.

Source: Flickr

Page 6: The Dream by Gurbaksh Chahal

Lesson 3

People tend to think that in order to start a new business they have to come up with something new

and dazzling, but that’s a myth – and it’s often propagated by venture capitalists.

A company can be similar to the competition as long as it has the right people and right leadership, as long as IT IS COMMITTED TO BEING BETTER THAN ALL THE

OTHER PLAYERS.

Page 7: The Dream by Gurbaksh Chahal

• One don’t need to start a company with a new idea. In fact, if you start with something that‘s too different, people might have doubts about your untested model. It might be a brilliant idea, and you model could very well be ahead of its time, but if the investors can’t relate to it there’s a good chance you‘re not going to get funded.

• It is advisable to work with something they understand, then turn it into the model you envisioned in the first place.

Lesson 4

• It’s a mistake to try to REINVENT THE WHEEL when you’re coming out of the gate. Start slow and steady, get to parity, then innovate.

Page 8: The Dream by Gurbaksh Chahal

Lesson 5

Never do anything for money – or, at least, solely for money. Of course, one want to make money, but if

that’s the only goal, it will adversely affect all of your decisions. They will be colored by greed.

SO DON’T LET MONEY DEFINE THE BEGINNING OF THE JOURNEY; MAKE MONEY THE RAINBOW THAT COMES

AT THE END.

Page 9: The Dream by Gurbaksh Chahal

Lesson 6

If you genuinely want something, don’t wait for it – teach yourself to be impatient.

PATIENCE MAY WELL BE A VIRTUE, BUT IMPATIENCE HAS ALWAYS WORKED BETTER FOR PEOPLE.

Page 10: The Dream by Gurbaksh Chahal

The biggest lessons come from the biggest mistakes. Never put

yourself in a position of vulnerability.

ALWAYS OWN YOUR MISTAKES

Lesson 7

Page 11: The Dream by Gurbaksh Chahal

Don’t tell people what they ask you, tell them what they need to hear to FALL IN LOVE WITH YOU.

Lesson 8

Page 12: The Dream by Gurbaksh Chahal

Don’t chase the money. Chase substance. If you have substance, the MONEY WILL FOLLOW.

Lesson 9

Page 13: The Dream by Gurbaksh Chahal

FIX THING BEFORE IT BREAKS,

rather than don’t fix it if it’s not broken.

Lesson 10

Page 14: The Dream by Gurbaksh Chahal

DON’T BE JEALOUS. Jealousy is one of the most useless emotions on the

planet.

Lesson 11

Page 15: The Dream by Gurbaksh Chahal

Some people are like crabs. If they can’t get over the wall, they will PULL YOU DOWN TO KEEP YOU FROM

CLIMBING OVER.

Lesson 12

Page 16: The Dream by Gurbaksh Chahal

• Most people think that they need to know exactly what they want to do when they start a business, but they’re wrong. If you go into something with a very specific plan. You might be so focused on your goal that you would not see the PROMISING OPPORTUNITIES that present themselves as you make your way along.

Lesson 13

•Take the blinders off. Look around. Don’t be afraid to go off on all sorts of unusual directions, since that’s where you might just find the MOST INTERESTING – AND PROMISING – OPPORTUNITIES.

Page 17: The Dream by Gurbaksh Chahal

Being cheap is good for the company and for the

stakeholders, but don’t be too cheap.

NEVER BE CHEAP WITH YOUR EMPLOYEES. If one of them is a rock star, pay him or her a rock

star salary.

Lesson 14

Page 18: The Dream by Gurbaksh Chahal

• Failure is not an option. Anyone who even enterains the idea of failure is already doomed. Whenever you set out to do something, large or small, you have to believe in your heart that it’s going to happen, and you have to keep moving toward the goal.

Lesson 15

• It’s really all about forward movement – like riding a bicycle. If you’re standing still, it’s not easy to keep your balance, but if you’re moving forward, there’s nothing to it. That holds true for business and for life. So KEEP MOVING FORWARD.

Page 19: The Dream by Gurbaksh Chahal

Learn to move on when it’s time to move on. Bite the

bullet. Let go. START FRESH. Don’t look back. It’s not as easy as it sounds, but make

the effort – it’s worth it.

Lesson 16

Page 20: The Dream by Gurbaksh Chahal

DON’T LOSE YOUR MORAL BAROMETER.

•Lies and obfuscation might give you short-term success, but they make for very unstable relationships. •Never compromise your morality. We all need to live by a moral code.

Lesson 17

Page 21: The Dream by Gurbaksh Chahal

CRITICISM is the best form of discipline because it makes you

look at yourself.

Lesson 18

Page 22: The Dream by Gurbaksh Chahal

If you’ve got nothing to hide – and you should never have anything to hide – DON’T SWEAT

THE PROCESS.

Lesson 19

Page 23: The Dream by Gurbaksh Chahal

He who knows when HE CAN FIGHT AND WHEN HE CAN NOT,

will be victorious.

Lesson 20

Page 24: The Dream by Gurbaksh Chahal

• If the company had $200 million in the bank, money it could have been investing in manpower, products and technology – but everyone was so risk-averse that they refused to touch it. When you have $200 million in cash available, you should be doing something with it, not simply enjoying the interest you’re collecting.

• The interest on that chunk of change for the company’s operation, and then some, of course but it wasn’t growing the company. Instead, the company was stagnating.

Lesson 21

SITTING ON YOUR MONEY IS NOT A STRATEGY; IT’S AN ABSENCE OF

STRATEGY.

Page 25: The Dream by Gurbaksh Chahal

LISTEN TO YOUR HEART. We tend to do well at things we love, so find

something you love – or learn to love what you’re

doing.

Lesson 22

Page 26: The Dream by Gurbaksh Chahal

Forget noble motivations. Success comes from wanting to win, so you’ve got to want it bad – you really need

that killer instinct. At the end of the day, no matter what they say, it’s not about how you play the game,

but about winning. WINNING IS NOT EVERYTHING. IT’S THE ONLY THING.

(Vince Lombardi, American football coach)

Lesson 23

Page 27: The Dream by Gurbaksh Chahal

ADJUST YOUR ATTITUDE. Without the right attitude, you’ll

never succeed. You have to believe in yourself, often to the point of madness, because until

you prove yourself the only people who believe in you are your parent. If you have any

doubts, get out now.

Source: www.koodoolounge.co.uk

Lesson 24

Page 28: The Dream by Gurbaksh Chahal

FIGURE OUT WHAT YOU’RE GOOD AT. Very few of us are gifted, so we need to work with the gifts we have. If you’re five-foot-two and you love basketball, let me

be the first to tell you. Its’ probably not going to happen (but don’t let me to stop you.)

Lesson 25

Page 29: The Dream by Gurbaksh Chahal

TRUST YOUR GUT. We are complicated creatures.

That inexplicable feeling you get sometimes – well, it tends to be right a lot more often then it is

wrong. Try not to over analyse it. Some mysterious inner you is

trying to help by pointing you in the right direction.

Lesson 26

Yes Yes Yes

NO

Page 30: The Dream by Gurbaksh Chahal

DO YOUR HOMEWORK. BEFORE YOU START ANYTHING, make sure you know exactly what you’re getting into. Ignorance is dangerous. What you don’t

know can and will hurt you.

Lesson 27

Source: www.mrsfredashistory.com

Page 31: The Dream by Gurbaksh Chahal

Be frugal. The only person YOU NEED TO IMPRESS IS YOURSELF, and you’ll be impressed by success.

When it comes to staffing your company, however, don’t be frugal. Find the right people for the right jobs,

and pay them what they’re worth. We all love and need rock stars.

Lesson 28

Page 32: The Dream by Gurbaksh Chahal

DON’T EXPECT PERFECTION from yourself or others, but never stop striving for it, and try to inspire others

to strive for it too.

Lesson 29

Page 33: The Dream by Gurbaksh Chahal

LEARN TO LISTEN. Everyone has an opinion, and everyone is entitled to an opinion, and even wrong-headed opinions can open your eyes to things you

might otherwise have missed. So listen, even to people you disagree with – and may

be to them more than others. Then process what you’ve heard and have the courage of your convictions.

Lesson 30

Source: www.zazzle.com

Page 34: The Dream by Gurbaksh Chahal

Own your mistakes. At the end of the day, every decision you make, even if it was inspired by misguided

advice, is your decision.

Lesson 31

NOBODY WINS WHEN YOU START LOOKING FOR

SOMEONE TO BLAME. Let it go. Keep moving. Forward movement is

everything.

Page 35: The Dream by Gurbaksh Chahal

Never lose sight of the competition. While you’re playing, someone else is working and catching up, so learn to

play with one eye on the competition.

YOU’RE NOT GOING TO BE ON TOP FOREVER.

Lesson 32

Source: www.rblewis.net

Page 36: The Dream by Gurbaksh Chahal

DON’T PROCRASTINATE. Procrastination is just

another work for wanting to fail. If you’re not hungry

enough, if you’re too lazy to move forward, you’re never

going to get anywhere.

Lesson 33

Page 37: The Dream by Gurbaksh Chahal

Don’t’ do anything by half measures. Remember: MEDIOCRITY IS FOR LOSERS.

Lesson 34

Page 38: The Dream by Gurbaksh Chahal

ALWAYS NEGOTIATE FROM A POSITION OF STRENGTH. If you need something from the other guy, you’ve already lost. People want what they can’t have.;

become the thing people want.

Lesson 35

Source: www.salestrainingelearning.co.uk

Page 39: The Dream by Gurbaksh Chahal

EXPECT THE UNEXPECTED. If you’re ready for anything, you’ll still be unpleasantly surprised – but at least you’ll get through it.

Lesson 36

Page 40: The Dream by Gurbaksh Chahal

PERCEPTION IS REALITY. What they see is more important than what is, so show them what

they want to see and tell them what they want to hear.

Lesson 37

Page 41: The Dream by Gurbaksh Chahal

Don’t get emotional. LOGIC AND EMOTIONAL

DON’T MIX.

Lesson 38

Source: mountcope.wordpress.com

Page 42: The Dream by Gurbaksh Chahal

BE FEARLESS. The road to success is paved with failures. If you’re afraid to fail, you’ll never succeed.

Lesson 39

Source: schoolnet.gov.mt

Page 43: The Dream by Gurbaksh Chahal

PICK YOUR BATTLES. The fighting never really

ends. Don’t let the meaningless skirmishes sap

your strength; you are in this to win the war.

Lesson 40

Page 44: The Dream by Gurbaksh Chahal

Grow a thick skin – a very thick skin. People will question your ability to succeed and the loudest among them might make you doubt your own talents, so you’ll

need a thick skin to drown out the noise. THE SILENCE WILL HELP YOU FOCUS ON YOUR

OBJECTIVE, AND YOU WILL PREVAIL.

Lesson 41

Page 45: The Dream by Gurbaksh Chahal

TAKE CHANCES. Without risk, there is no reward. But make sure it’s intelligent risk.

Only a fool bets against Tiger Woods (until it is time to bet against Tiger Woods)

Lesson 42

Page 46: The Dream by Gurbaksh Chahal

When you commit, you really have to commit. BECOME UNSTOPPABLE AND DON’T QUIT.

Lesson 43

Page 47: The Dream by Gurbaksh Chahal

There is no need to reinvent the wheel.

You simply need to find out that CAPTURED YOUR IMAGINATION, and then you figured out how to

do it better than the next guy.

Lesson 44

Source: http://www.flickr.com/photos/terva/2072247720/

Page 48: The Dream by Gurbaksh Chahal

SUCCESS IS REALLY ABOUT MAKING IT HAPPEN. It’s about dreaming. It’s about finding that one thing

you love above all others and then figuring out how to do it better than anyone else.

Lesson 45

Page 49: The Dream by Gurbaksh Chahal

Reference

• ‘The Dream’ by Gurbaksh S. Chahal (Palgrave Macmillan © 2008)

• www.chahal.com• Pictures source– Google Images– Flickr