Let's dive into the remarkable journey of billionaire Naveen Jain, an Indian-American entrepreneur and the former CEO of InfoSpace. Discover how Naveen Jain has seamlessly merged entrepreneurship and philanthropy, making a lasting impact on the world. Join Jon on this episode and learn how you too can make a difference.
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Additional Voice: Charles The Voice
Music: Have a Smoke by Crowander (CC BY 4.0)
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Welcome to Jon Michail’s Personal Branding Masterclass. Jon is the founder and CEO of image group international, an award-winning image consulting and personal branding pioneer established in 1989. This podcast will bring you old-school wisdom, inspiring ideas, strategies and hacks for the new tech world. Here you will learn everything about personal branding: the system, the techniques and the right mindset to have a successful personal brand, image and reputation.
Hello, everybody, it's great to be here again with you. Today's episode will explore the synergy between a philanthropy and entrepreneurship. Our focus today is following an interview conducted on Entrepreneur magazine on a captivating journey of billionaire Naveen Jain, founder and former CEO of InfoSpace. Since the beginning of his career giant has always led with one question, how does what I'm doing, or what I want to do? How the most amount of people possible. And he believes there's a misconception about two separate spheres, one for philanthropy, where you do good. And for another entrepreneurship where you focus on profits. In other words, you do well. And he doesn't believe that is convinced that companies that thrive in the long run liberal ones that combined both, and somehow, I sort of agree with him, because I think the two are not mutually separate. And that can certainly be very, very well integrated. Because that's my experience in our own business and other businesses that we work with. So Jain's business mantra boils down to this, when your company's all about just making a positive impact on as many people as possible, then success becomes a natural outcome. And it's very hard to sort of argue with that. But here's the real kicker, there's a big difference between going after quick, shortly growth, and investing something that gradually gains momentum over time. And this is very important, especially with all the tech startups. Because, you know, at times, you'll see a lot of major failures that have gone followed shortly growth, as opposed to long term and the ones that have gone long term, of course, have become multi billion dollar corporations. So it's all about you know, how many lines your product idea, or service touches, and transforms. And this, my friends, is the secret sauce that separates the shortlist companies from the ones that thrive. Because what we've discovered clearly, especially in the last 15 years with a lot of the tech transformations. And of course, now, the year 2023, where a lot of tip, money has dried up, again, that long term is definitely the way to go. As opposed to quick short term profits. I'm not saying that there's no place for that. I'm just saying if you want sustainability, you gotta be thinking long term. And in the case of Jain, he was driven to help people due to a personal challenge that hit close to him. So there was an emotional trigger there. That got him to stay on track. And that was he was losing his Baba, to pancreatic cancer. So he said, Look, this is the prom, I'll put the next 10 to 15 years of my life towards this.
And I will get as much money as I need to rise that guy. And then of course put into good use regarding solving this current Promil. In his case, cancer. He then invested in Bowie, the company was born out of the idea of empowering people about the bodies aiming to prevent a reverse chronic diseases for providing them with the information and tools they need. So if you gone to the websites, you'll see it's a simple tool. You know, you send the I believe your blood, your bloods in a stool test, and they come back to you with a whole bunch of ideas and reports on what you have to do for longevity, and of course they unhealthy, et cetera. So, you know, the interesting thing here was that Jain had made previously a lot of money with Microsoft, he worked for Bill Gates. So you know It's not like he was short, on a quid. However, he decided, why should I donate all my life savings to this cancer research. And instead, or redirect my thinking and resources to ward solving this problem. And doing it, of course by raising money like a smart entrepreneur would. And of course, what he did was he raised recently $86.5 million. And that was on top of the 67 million he raised last year. So total 253 million that is used for research development for this particular product by Supreme, you like giving money away for the sake of giving money was a cop out. He believes that if you care about something, you give it your time, because that's the most valuable thing you have. And you know, in reflection on this, in my experience, time, of course, is your most valuable asset. We all know that. Because it doesn't matter what you do, once it's gone, it can't be replaced. Therefore, best in time, when a cause is what will be regarded as the ultimate gift back that you can contribute to society. Because remember, you can find all the money in the world, okay, but time cannot be given back. Now, of course, I'm not saying that you can't do both. And in the Jewish custom, it's known this zit DACA, a form of social justice, in which everyone benefits donors, and recipients, and at times with donors might even benefit more than the recipients because it's beyond the financial contribution. It's about trust, building relationships, and winning from contributing your time, your effort, and of course, your insight. And then you have it like the captivating journey of remain Jain. All a testament to the harmonious blend of philanthropy and entrepreneurship. So as we wrap up on this episode, remember, in the nexus of philanthropy and entrepreneurship lies the possibility the potential to shape a brand, personal and business that stands the test of time just like living Jain, as exemplified. So my friends, as you continue on your personal branding journey, consider how you too, can integrate doing good with doing well to craft a brand that leaves a positive mark on the world. In my experience, the greatest work I've been involved with has always incorporate philanthropy with leadership and entrepreneurship, because it gives you a greater purpose when it's all integrated. Certainly, that's been my experience. So thank you again for joining me tonight. We will continue with next week's episode on more insights from being Jain's entrepreneur interview. If you need help on your business journey, you can send me an email you can find the email address in the description of this episode. He had also contact me on my social media, but Twitter is Jon_Michail, my LinkedIn is Jon Michail and you can find me as image Group International on Facebook. Thank you again and Cheerio.
Jon Michail’s Personal Branding Masterclass Podcast is sponsored by Image Group International, a global team of practical, digitally savvy personal brand and image strategists based in Australia, committed to maximizing your impact, influence and authority in the business world. To learn more and apply for your personal coaching, seminars and group workshops, please visit imagegroup.com.au or call 1800 631 311.