Marc Randolph, Co-founder, Netfilix$ 1.75 to $ 8 billion business! Marc Randolph, co-founder of the world-famous video streaming platform Netflix. He wrote the story of the founding of Netflix “That Will Never Work”. There are some interesting experiences in the book about raising investment. OPM. A very common word in Silicon Valley. It can be heard in the mouths of all small and big entrepreneurs. You may be curious, you may think – what does it mean! OPM is ‘Ginger People’s Money’. That means ‘other people’s money’. When you hear the word ‘OPM’ in the face of a Silicon Valley entrepreneur, you will understand that they are trying to say even if the dream is to own a new venture, the investment will be someone else’s. Because being an entrepreneur is not easy, it is very risky. So keep in mind that you are risking your own hard work, perseverance and dreams.
So it is possible to try to put the pressure of investment on at least one other person. And investors are not the only ones providing money. Responsibilities, dreams and risks are all areas to be shared. The biggest hurdle before getting an investment is finding an investor. Because, getting money out of someone else’s pocket is one of the most difficult tasks in the world. When you start a startup, when you go to someone for an investment and when you have nothing but an idea in return, asking for money is not a trivial matter. Imagine for a second you were transposed into the karmic driven world of Earl. Why sacrifice your hard work behind your dreams? Why take a risk on yourself? While in college, I participated in a six-month wilderness program at the National Outdoor Leadership School. That program contributed a lot to my success as an entrepreneur. As part of the training program, blindfolded people were taken to an unfamiliar city and released for three days. The challenge is to survive in that unfamiliar city for three days on your own. At first I thought, ‘What the heck!’ But in those three days of training, I realized how difficult it is to ask someone for money. I was blindfolded and taken to a place called Charter Oak. It was five o’clock in the afternoon. Moneybags, watches and other valuables were taken down the street from me. Only one phone number was written on the back of the hand. If there is a danger, or if I do not want to do this adventure, I can only call that number. Since childhood, I have been able to remember the roads better by walking in the mountains and forests. So in a short time, I found out which side of Charter Oak is the market, which side is the food shop and which side is the park. It was fun at first. There was no urge to eat at night as I ate lunch a little later. As the night progressed, the cold began to increase. I went to a park in the area and lay down on the grass with some leaves and fallen branches of the tree.
After waking up in the morning, there is no more adventure. The stomach starts rolling with hunger. I stood outside a food store in the area. The aroma of hot bread and steaming coffee made the pain worse. But he has no money in his pocket, he doesn’t know anyone in the city, and since he is the son of a well-to-do family, he has never touched anyone. So I started looking for another way to curb hunger. I saw a busy gentleman rushing out, leaving half a loaf of bread and two sips of coffee on the restaurant table. I ate the head of public shame and jumped on that half-eaten food. It seemed that this day could be spent with this much food. So I went around the city all day happily and started to fill my bag with new experiences. But at night again that hunger pangs. This time no one will fill their stomachs with sticky food. I realized that if I wanted to survive, I would have to buy something to fill my stomach. But who will pay me in an unknown city? I found a bowl in the roadside dustbin. After that I decided to stand at the corner of the road and ask for money from whoever came.
A gentleman came to the corner, just as I was about to ask for money, his mouth became numb. Couldn’t ask! Asking for money in this way without exchanging anything with anyone is a very difficult task, I realized first. Then a few came a few times, each time I failed. Finally a lady came in front of me. My eyes became dirty with hunger then. And not being able to bear it, I said, ‘Will you have retail money? I am very hungry. ‘ With this word I broke my stupor. Although the woman did not give me anything. But after that I started asking people for money very fluently. I understood how to look into one’s eyes, at what stage of exchange of words one has to throw words, how much humility and how much longing in one’s voice. In this way I collected 1 dollar 75 cents that night. I ate on my stomach. The intensity of hunger that taught me, I still do not forget. Now I don’t hesitate to go to any investor and ask for two and a half crore dollars. Because, I know how much I need. An entrepreneur realizes his need and enters the field to raise investment. And when one person works with another’s hard-earned investment, the responsibility of another’s dreams and beliefs falls on one’s shoulders along with one’s own dreams. That’s when a plan, an initiative comes true.
Source: Prothom Alo