Think Out of the Box
Date: Tuesday , May 03, 2011
I always admire when I talk to entrepreneurs with innovative ideas. A while back, I read a short story about how a businessman engaged a bank to secure his luxury car and it in a way stayed with me for long time in terms of how entrepreneurs think out of the box. The story goes like this.
A businessman walks into a bank in San Francisco and asks for the loan officer. He tells the officer that he is going to Europe on business for two weeks and needs to borrow $7,000. The bank officer tells him that the bank will need some kind of security for such a loan. So the businessman hands over the keys to his Rolls Royce as collateral for the loan. Two weeks later, the businessman returns, repays the loan and the interest, which comes to $19.67. The loan officer says to him, “We are very happy to have had your business, and this transaction has worked out very nicely, but we are a little confused. While you were away, we did a little background check on you and found that you are a multimillionaire. What confuses us is why would you bother to borrow $7,000?” The businessman cooly replied, “Where else in San Francisco can I safely park my car for two weeks for just $20 bucks?”
This is exactly how entrepreneurs who aspire to become bears in the industry with innovative ideas think to solve the issues, through their solutions or products, which they daily witness. Like Ajit Gupta, CEO of Aryaka Networks, after having built a successful company earlier and now trying to solve the WAN optimization challenges of global companies, candidly says he would love to see a solution for one his personal everyday challenges — a way to be able to put a cover for a car single handedly in hassle-free manner.
This issue we present to you 10 most promising technology companies in U.S. We could not have found a better time to list 10 companies which are creating a buzz in the CIO circles and also moving ahead in the market. They are not only great in technology, but also dynamic to bring in business value. So next time perhaps you will not hear from your CIO “Boss our IT is horrible”, if technology from these startups’ is engaged.