Chairman of the Board of Directors and Founder of the world-famous company in IT sphere – ABBYY Software House, David Yang held a master class in Yerevan today, during which he presented the story of his success in business.
The master class was organized by “Ayb” Educational Foundation. David Yang is the Chairman of ABBYY Board of Founders.
3 magic crystals
David Yang has his formula of success which he calls “3 magic crystals”
“First you should know the issue you are solving. For instance if we speak about a disease we should know that this disease exists. The second step is creation of a medicine for it and the third is to deliver this medicine to the patient. If a startup team has special skills, knowledge, the success is guaranteed.”
Business success depends on your team
Yang said while creating Lingvo they did not have these 3 crystals, instead they had a great team. The success of the business is in the team.
Risk is very important
Entrepreneurship is people’s ability to move forward being surrounded by uncertainties, to bring ideas to the people and take the people after you. “These are the qualities which help to move forward. We took the risk and now our company is one of the leading ones among those dealing with artificial intellect.”
Imitate then build
While starting a business you cannot get closed in a room and create an ideal product. Such working style is a right way to failure. “If you want to create something new the mistake you can make is trying to create an ideal product in a closed room. You can create it, improve it but after a year when you enter a market you will understand that no one needs your ideal product. This is the mistake you should avoid,” he said.
How to build a team
Who can you trust and with who you better don’t start business? “If there were common formulas everything would have been quite easy. It is important to form a team with course mates because if people choose the same profession, appear in a same place they are already united. Though it does not mean that this team will reach success but statistics shows that the majority of succeeded startups has been created by students of the same college,” he said.
As to what gives him strength to continue moving forward in case of failures, Yang said – family and friends. “Situations when you do not succeed are more than you think. The only thing that encourages me is my family and my friends. ”
By Razmik Martirosyan, 168.am
