Aspiring entrepreneurs can learn a lot from successful business moguls like Eric Lefkofsky, co-founder of Groupon and CEO of Tempus. In this blog post, we’ll delve into some of the key lessons that Lefkofsky has learned throughout his career and how applying those lessons can help up-and-coming entrepreneurs achieve their own success. From recognizing the importance of timing to embracing failure as an opportunity to learn and grow, these insights can provide essential guidance for anyone seeking to make their mark in the business world.
Tempus And Groupon’s Eric Lefkofsky: Key Lessons Entrepreneurs Must Know
In today’s world, entrepreneurship is more than just starting a business. It requires a combination of skills, knowledge, and the right mindset to succeed. One of the most successful entrepreneurs in the world today is Eric Lefkofsky. He is the CEO of Tempus, a technology company that uses data to help personalize cancer treatment. In this article, we will dive into an interview with Eric Lefkofsky on Forbes Leadership, where he shares his key lessons for entrepreneurs.
Lesson 1: Embrace data and analytics
Eric Lefkofsky believes that data is the modern-day oil. According to him, businesses need to use data and analytics to make informed decisions. In his company, Tempus, they use data to personalize cancer treatment by analyzing patients’ genetic information. By embracing data, they have been able to improve patient outcomes and make the treatment process more efficient.
Lesson 2: Focus on solving real problems
Many entrepreneurs make the mistake of starting a business just for the sake of it. Eric Lefkofsky’s advice is to focus on solving real problems. In his interview with Forbes, he mentioned that Tempus started as a way to solve the problem of limited access to cancer data. They realized that by using data, they could personalize cancer treatment and improve patient outcomes. By focusing on solving real problems, entrepreneurs can create businesses that truly make a difference.
Lesson 3: Build a great team
Eric Lefkofsky believes that success in business is only possible with a great team. In his interview with Forbes, he mentions that he focuses on hiring people who are smarter than him in specific areas. By doing so, he can build a team that is capable of achieving great things. He also believes in fostering a culture of collaboration and diversity within his teams.
Lesson 4: Be resilient
Entrepreneurship is a journey that is full of ups and downs. Eric Lefkofsky’s advice to entrepreneurs is to be resilient. In his interview with Forbes, he mentions that he has faced numerous obstacles throughout his career, but he never gives up. Resilience is an essential trait that entrepreneurs must have because it helps them overcome setbacks and stay focused on their goals.
Lesson 5: Learn from failures
Eric Lefkofsky believes that failures are an essential part of the entrepreneurial journey. In his interview with Forbes, he mentions that he has failed many times throughout his career. However, he has always used these failures as an opportunity to learn and grow. According to him, failures are valuable because they provide entrepreneurs with valuable lessons that they can use to improve their businesses.
- What is Tempus, and what does it do?
Tempus is a technology company that uses data to personalize cancer treatment. They analyze patients’ genetic information to create treatment plans that are customized to their unique genetic makeup.
- What are Eric Lefkofsky’s key lessons for entrepreneurs?
Eric Lefkofsky’s key lessons for entrepreneurs are to embrace data and analytics, focus on solving real problems, build a great team, be resilient, and learn from failures.
- Why is resilience important for entrepreneurs?
Resilience is important for entrepreneurs because it helps them overcome setbacks and stay focused on their goals. It allows them to keep pushing forward even when faced with obstacles.
- How does Eric Lefkofsky foster a culture of collaboration and diversity within his teams?
Eric Lefkofsky fosters a culture of collaboration and diversity within his teams by hiring people who are smarter than him in specific areas. He also encourages open communication and values diversity of thought.
- What is the interview with Eric Lefkofsky available for viewing?
The interview with Eric Lefkofsky is available for viewing on YouTube.