Entrepreneurship Speech to Montgomery College

I would like to sincerely thank Steve Lang and Elana Lippa for inviting me to speak to you to-day. Topic of my speech is “Entrepreneurship and Leadership”.

What is Entrepreneurship?

Entrepreneurship is a way of life.  It’s a powerful force deep down inside, driving you to achieve your dreams, despite dubious odds and the doubts of others. 

I’m sure many of you here today have the desire, the drive and the dreams to become entrepreneurs.  Dreams give us the strength that carries us through.  Indeed, I’ve often thought that perhaps it is not we who carry the dream, butthe dream that carries us.

I love entrepreneurship.  There is nothing like the excitement, glory, fun and sheer thrill of starting something from scratch and watching it grow into a large enterprise of astonishing proportions.  If you have the opportunity to be an entrepreneur, grab it.  Find passionate and driven people and lead them.  Give them all the necessary resources, and then give them some oxygen to breathe.

I can’t stress strongly enough how determined you must be, for the road to success is neither short nor easy, as the following statistics so starkly reveal:

1. Only 1 in 6 million high-tech business ideas become an IPO
   
   
2. Venture capitalists fund fewer than 1% of the business plans they receive
   
   
3. Founding CEOs of high-tech firms typically own less than 4% after an IPO
   
   
4. 60% of high-tech companies funded by VCs eventually go bankrupt
   
   
5. It takes 3-5 years after their IPO for most high-tech companies to finally succeed1

Clearly, it’s not easy to be a successful technology entrepreneur.  Many will fail at some point, and you must learn to overcome heavy doses of frustration, burnout and disappointment along the way.

So Why Become an Entrepreneur?

For the true entrepreneur, this is a rhetorical question.  For the emerging entrepreneur, there are at least three major motivations:

The FIRST motivation is a yearning to create something novel and useful.  “To be on the cutting edge” is a necessary mantra.  The technology entrepreneur strives to fill a need in the marketplace and then develop a solution -- perhaps a better communication tool, an improved optical switch or a faster bioinformatics system. 

Too many people confuse this creative problem-solving by genuine entrepreneurs with the process of merely finding hot technology companies in the market and building new companies that mimic them.  Remember, the hot technology companies are hot because they seek to solve a problem.  The copiers have neither identified a problem nor created a solution.  They simply jumped on the latest bandwagon coming down the road.

The SECOND motivation of the technology entrepreneur is build something that will last forever.  The entrepreneur must always keep ahead of the competition to sustain the enterprise as a profitable concern. 
Risk-taking is absolutely crucial because it yields the innovation that sustains your competitive edge, in a world where competitors constantly catch up to and overtake stagnant firms.  That’s why being on the cutting edge is paramount.  We have to get out of our comfort zone, venture into new horizons and experience new environments.  We must not be afraid of taking chances.  If we fail, we must simply get up and try again.  Perhaps we will fail further… but nevertheless, we must try yet again.  Success teaches you how to move forward, but failure teaches you to never go backwards.  Thus, failure is the first step to success.

The THIRD motivation of the entrepreneur is to have freedom.  Being your own boss has definite appeal.  Glass ceilings cease to exist and achievement is limited only by imagination.  Entrepreneurs are motivated by having control over their work and the flexibility to pursue their dreams.  But freedom always has a price.  With greater personal freedom, comes greater uncertainty about the future, particularly in relation to finances.  Greater personal freedom also means a less structured environment, in which greater self-discipline is required in order to thrive.  Entrepreneurs are willing to accept these risks, however, because of their absolute conviction that they have what it takes to overcome any odds.

If these three ideals do not motivate you, then the very thought of becoming an entrepreneur should be extinguished.  If a big personal cash payout seems to be glaringly missing from the list of major objectives, it is because it is not a primary motivating factor.  These three major goals are not shared by all and are inappropriate for many.  Only those that find these objectives to be self-evident should embrace entrepreneurship.

What Characteristics Make an Entrepreneur Special?

Passion is what entrepreneurs must have, first, and foremost.  They must live and breathe for their business enterprise.  They are zealots about their business models and evangels for their products or services.  They have to be.  If they weren’t, the stress and financial pressures of running a fledgling business would completely wipe them out.  The sheer magnitude of the odds that are stacked against entrepreneurs requires a special kind of irrational exuberance to overcome.  Without passion, resources will never be enough and they will quickly dissipate into thin air.  But your passion will always find a way, even when probabilities conspire against your dream.  Entrepreneurs have unshakable confidence in and enthusiasm for their business ventures that contagiously spreads to their business team.

Laser focus is another hallmark of entrepreneurs.  Many people are creative, but lack discipline.  Entrepreneurs, however, have both qualities.  When a company does not focus, it is planting seeds for future problems. An entrepreneur identifies a path towards a solution and follows that path, notwithstanding the frequent temptation to take sideroads leading to seemingly newer, more exciting destinations.  The entrepreneur knows that most of the journey down the chosen path is checkered with drudgery, yet continues down the path unswervingly, confident that there will be a reward at the end.  The entrepreneur also knows that the side roads along the way may appear appealing at first glance, but will quickly become as checkered with drudgery as the originally chosen path and likely lead to a dead end. 
Focus is power. It creates a powerful perception of resolve in the minds of your customers, employees and competitors. 

Courage is a defining trait of entrepreneurs.  To understand the odds against success and still forge ahead, knowing many battles will be lost en route, requires a certain amount of fearlessness.  Entrepreneurs are purposeful in their tactics and can think on their feet.  Yet they regularly face daunting challenges whose failure to overcome will spell certain disaster for their business ventures.  Their ability to face these challenges without fear enables entrepreneurs to succeed where others cannot.

Entrepreneurs also are leaders.  Contrary to the popular belief that entrepreneurs are mavericks who prefer to be lone wolves, entrepreneurs are visionaries that can inspire and lead their colleagues.  There are few things more compelling than people who are passionate about their work, have the discipline to achieve success, and are fearless in their outlook.  An entrepreneur builds teams and instills confidence in others.

And, of course, an entrepreneur always is thinking ahead, perpetually in motion towards well-defined goals.  Diligent pursuit of progress is a hallmark.

How Can a Student Get on The Path of Entrepreneurship?

As discussed, the fundamentals of entrepreneurship can be learned.  But like anything else, it takes discipline and practice.  That means training your mind to consider the various problems you face as a student and instead of focusing on the downside, identify the opportunity that lies within. 

For example, if predicting test questions accurately is a problem, consider developing a system that makes this easier.  Perhaps a database of all prior test questions with the best answers could be developed, with a subscription fee business model.  Perhaps the database could be expanded to all colleges so that it will be more comprehensive and can appeal to a large subscriber base. 

Chances are, the problems you face will also be faced by others and the more people impacted, the greater the opportunity. This is how new entrepreneurial businesses are formed -- by searching for pandemic problems that currently lack solutions.  Keep in mind that Google was founded by students; Facebook was founded by a student; and even Microsoft was formed by Bill Gates as a student.  The opportunities to be an entrepreneur are all around you right now, if you take time to examine the challenges you face and filter them through the prism of business. 

Leadership

Once you have established a business and grabbed the available opportunities by the horns, naturally, you have to manage it effectively.  And that means drawing upon your capabilities to lead – a defining characteristic of an entrepreneur, as already discussed.  So, what does it take to be a good leader, besides the obvious traits of being passionate, disciplined and courageous?  In today’s world, it also means being compassionate, transparent, objective, and humble. 

It used to be that companies were evaluated solely on two metrics: (1) their ability to produce cash flow; and (ii) their ability to innovate.  But now, companies are also evaluated on how they perform as corporate citizens.  A company’s willingness to do things for the public good and be socially responsible is a core element of performance.  Compassion is important.  As an example, ExxonMobil is producing record profits and is churning out new technologies as fast as ever.  Yet they are being vilified in the marketplace because of a perception that they are being greedy and failing to have compassion for the middle class’s predicament of having a difficult time paying for fill-ups at the gas station.   Certainly, this is not good for sustaining corporate value.  Young entrepreneurs need to consider the need to be socially responsible if they are to lead the way to the future.

Transparency is also critically important.  Both investors and the market make their decisions related to your business partly because of trust.  People are always willing to pay a premium for peace of mind and integrity.  To build trust, an entrepreneur needs to be transparent.  Anything hidden from view will cause suspicion and undermine trust.  That means that corporate decision-making, financing, and operations need to be visible to key stakeholders.  Sometimes it’s hard to be transparent, as this can make you feel vulnerable.  But good leaders are straightforward and willing to be placed under the microscope as needed.

A corollary to transparency is objectivity.  A good leader makes decisions based on facts and a well-thought out and plainly articulated strategy.  The rationale for all decisions must be clear to viewers and fully defensible based on objective criteria.  Trust isn’t just based on being able to see everything that happens – it is ultimately based on the objectivity of decisions.

Of course, if you do get things right and are able to grow an excellent business by being a true leader, humility is important to maintain your following.  Customers, investors and employees stick with you not just out of respect for your accomplishments, but because they have become loyal friends.  Your ability to share credit with others, provide a helping hand, and support others is what creates your personal and corporate brand.  It is not a coincidence that most of the most revered business leaders are also philanthropists.  Warren Buffet, despite being the richest man in the world, is quick to give credit to others and still lives in the same middle-class house that he purchased decades ago.  Humility, rather than taking away from your accomplishments, helps build them.

Before you can become a leader, you must first focus on growing yourself.  After becoming a leader, success is all about growing others.  Here are some of the other elements of a successful leader:

*	Leaders have a clear vision and ensure that others not only see the vision, but also live and breathe it.
*	Leaders create environments where people can be truly committed.
*	Leaders relentlessly upgrade their team, using every encounter as an opportunity to evaluate, coach, and build self-confidence.
*	Leaders exude positive energy and optimism that gets under everyone’s skin.
*	Leaders have respect for all people.
*	Leaders give credit to others…. and often take the blame when something goes wrong.
*	Leaders establish trust with candor, transparency and credit-giving
*	Leaders act with integrity in spite of the difficulty.
*	Leaders have the courage to make unpopular decisions and gut calls.
*	Leaders probe and push with a curiosity that borders on skepticism, making sure their questions are answered with action.
*	Leaders balance risk and reward.
*	Leaders see mistakes as learning opportunities.
*	Leaders are firm but fair.
*	Leaders are enthusiastic.
*	Leaders get everyone involved.
*	Leaders are tough…yet tender.
*	Leaders inspire learning by setting the example.
*	Leaders celebrate.

My Experiences

I’d like to say a few words about my own experience as a CEO.  I cultivated a very vision-driven organization into a tightly-focused company whose employees all knew precisely what was expected of them, and always delivered exactly what they promised.  I gave people at all levels specific tools and metrics, and enforced fact-based decision-making.  Managers at all levels in my company honored these commitments, engaged in disciplined meetings, focused on decisions and measured progress against stated objectives.  I surrounded myself with some great performers who delivered results.

Thank you for giving me the opportunity to speak with you today. Thank you for your time, and for your commitment to make a difference in the lives of others through entrepreneurship.  I wish all of you continued success in the future, and look forward to when our paths cross again.  I am confident you will achieve your goals.  I am sure you will rise to the challenge, and transform you passion into profits. 

Always remember, that no matter how steep the pass, or how discouraging the pace, I implore you to never give up on your goals.

So there are many facets of leadership that you must embrace as a young entrepreneur, in addition to the hard work of living the life of an entrepreneur.  This is not an easy path, but almost anything worth having is worth fighting for.  I encourage all of you to consider entrepreneurship and show that Montgomery College can continue producing the great companies of tomorrow.  I hope for some of you, the path begins today.

 

Challenges of American Democracy
2008 AMU Federation Speech by Frank F. Islam

 

Ladies and Gentlemen:

I would like to welcome all of you to this occasion and thank my host for giving me an opportunity to address you today on the subject of “Challenges of American Democracy”.

At 30,000 feet, American Democracy appears to be functioning well. We have had more than 225 years to develop this bold concept of government; And, undeniably, democracy is a valuable form of government as it recognizes the self-determinative rights of people to create their own trajectory in life.

However, American Democracy, like any form of government, is not perfect. It is an ever-evolving, organic model that is grounded on proven principles, but periodically encounters challenges that impacts its development. Its evolution is a direct outcome of meeting obstacles, which brings about the impetus for change. At present, American democracy appears to be facing numerous challenges, which will determine the path of government in the future.

Simply put, America in the twenty-first century is faced with questions about how a democratic government should work. These include recurrent debates about the excessive influence of "special interests" and the inequality of political power and influence, which have challenged the democratically oriented pluralist theory in the United States. Recent events and circumstances have made questions about the meaning of democracy ever more pressing. The election of 2000, the terrorist attacks on September 11th, 2001, the wars in Afghanistan and Iraq and the 2004 election have raised issues concerning the central normative requirements of democracy in America.
Democracy requires more than effective institutions that hold leaders accountable and prevent them from abusing their powers. It is also essential that the rights and liberties of individuals be protected from possible abusive actions of the government, its leaders, or majorities of the citizenry. These protections are provided for in the Constitution and its amendments, and American democracy requires that such rights and liberties be defended and upheld.
Today, American Democracy faces several challenges (1) radical influences by those who try and steer government away from the will of the people; (2) population growth -- when you have so many voices, from multiple ethnicities, races, cultures, it is difficult to reach consensus; and (3) the widening gap between the rich and the poor. Whenever you have these gaps, it is difficult to find a common ground that is necessary for democratic governance.

I would like to speak about each of these issues in greater detail:

(1) Radical Influences:

Certainly, there are extreme positions on most of the major issues that we face today. As an example, there are those that believe in no government authority and those that believe government can solve everything. The correct answer almost always lies in between. The majority of people tend to be pragmatic and centrist on many things. But, because our society has so many outlets for voices to be heard, those who are on the fringes of issues can often elevate their voices above others simply by taking advantage of all of these outlets. For example, podcasting, blogging, and the hundreds of TV channels provide these radicals with plenty of opportunities to exploit issues. Plus, the passion is almost always with the radicals, so they tend to actually exploit them.

Of course, the very purpose of democracy is to allow people to let their voices be heard – so this is all consistent with the good things about democracy. However, if policy makers hear only the loudest voices, then the true will of the people gets lost. This is a real tension in democracy – not erecting barriers against free speech, yet trying to ensure that the majority opinion floats to the top. So, the very nature of democracy creates challenges.

Also, this issue is exacerbated by the fact that individuality is so strongly embedded into our current culture – at the sacrifice of a deep sense of civic duty. In other words, people tend to place more importance on their own concerns than that of the majority. This is what motivates people to attempt to force their will on the majority, even when the majority clearly dissents. While democracy is designed to allow the expression of individualism, sometimes civic responsibility can be forgotten and the will of the majority can be lost.

(2) Population Growth:

As I stated earlier, democracy in America is a representative form of government. To be effective, the elected representatives must be able to ascertain the needs of their people and then pursue public policy accordingly. However, as we all know, the more voices that are spoken, the harder it is to reach a consensus. On the one hand, a flourishing democracy always attracts people and America has traditionally welcomed people with open arms. But, as more and more people constitute the fabric of America, the harder it is to discern any clear patterns from the fabric. As our population grows, so does our diversity – which is itself a good thing. However, with the benefits of diversity, comes the challenge of finding consensus.

American democracy is now challenged by the very nature of its success. We are achieving our goal of being the proverbial melting pot. We now have raging debates over whether we should have a common language – English – or not. We have expressions of concern over whether people of a particular religion or race can be effective representatives for the majority, as evidenced by the campaigns of Mitt Romney and Barack Obama. We have racially motivated acts of terror in our own country – as evidenced by the Jenna 6 and the recent slaughter of a Mexican immigrant in Pennsylvania. And of course, we have continual debates over religion in government and whether America should be a Christian-guided nation. So, we have our challenges, but it is only because our experiment to create a diverse country has succeeded.

(3) Widening Gap between Rich and Poor:

American Democracy is rooted in the principal that there should be equal opportunity for all. Without that, democracy begins to fail because it can’t enable its participants to realize their goals. Much talk has been made about the current widening of the gap between the richest Americans and the majority of the working class. John Edwards famously called this the existence of “two Americas” in his populist speeches. The truth is that the richest ten percent of Americans now is farther distanced from the poorest ten percent than ever before in our history. This creates a lack of interaction among various economic segments of the population and thus results in a divergence of interest and lack of understanding. The disenfranchised begin to lose faith in government’s effectiveness and democracy begins to unhinge. As this gap widens, the challenge is to bridge the gap in understanding and to ensure that the mandates of government are respected. Further, as the poor become poorer, the effectiveness of law becomes diminished when people are forced into choices between sustenance and compliance. So, the uncommon success that American Democracy has enabled also has created new challenges that we must overcome.
The new millennium finds the American Democracy in trouble. Symptoms include the excessive power of corporations, excessive power of the Presidency, narrowing of admissible issues and choices to the public, contested elections, erosion of civil liberties, corruption in high places, troubled domestic and foreign programs, and widespread public dissatisfaction and disengagement. Why has the system stopped responding to open debate? What has thrown relationships between power centers out of balance? What has narrowed the boundaries of acceptable debate? Since elections are where it all begins and since America's claim to a government by the people rests squarely on fair and meaningful elections, that is where the origins of problems can reasonably be found.
The so-called bottom line of this political process is that American Democracy is faltering and at risk of drifting into a deeper crisis in which the potential abuse of power could dash the hopes of the American people. The leading question asks how can that situation be turned around. Many have looked to "public interest groups" like Common Cause and The Environmental Defense Fund, but, overall, they have not significantly influenced elections or public policy.
Certainly, the challenges of American Democracy are important for any other democratic nation to consider. America is the world’s oldest democracy and continues to be the great laboratory for democratic experimentation. We have enjoyed great successes and many obstacles along the way as well. How we have handled these obstacles and our successes has been telling – from the passage of civil rights laws to our role in helping develop the United Nations to our exercise of authority as a superpower.

In many ways, India is faced with the same challenges as America, with its own form of democracy. The radical left and right in India are equally extreme; the population growth and diversity is far greater than in the United States; the gap between the rich and poor is even wider; partisan politics more entrenched; and corruption very common and extreme. Yet, India also seems to have a greater tradition of public interest democracy, which appears to be the path that America is heading towards. So, the way American Democracy handles the challenges that have been discussed will be of direct relevance to India. This presents yet another opportunity for information exchange and knowledge transfer between these two great democracies, even if the ultimate paths chosen by these two great nations diverge.

Now I would like to speak to you about why should we participate in the political process? When I say “we” I mean as an Indian American and as a Muslim. However, before I continue I would like to stress the importance of the upcoming election. Election 2008 is very important because we are concerned about the dismal state of our economy, high gas prices, stagnant wages, the increasing health care costs, job insecurity, the credit crunch and the war in Iraq. As we have all been affected by these issues in one way or another, I feel that if we stand up together we will be able to help elect a government that will be able to resolve these issues.

I would like to share with you some questions and answers posed by the community about why we should participate in the political process:

Q: Why should anyone contribute money to candidates? How important is it to give money?
A: We contribute because we believe it is part of our civic duty. This is a democracy and we are lucky to be able to have our voices heard. And one of the best ways to ensure that our voices are heard is to provide candidates with the financing necessary to run their campaigns, interface with citizens and then carry their message back to Washington.

Q: Do we get anything in return?
A: Yes. The knowledge that we participated in this democracy and exercised our right to express our opinion. Again, it is our civic duty as citizens to participate in democracy.

Q: How strong and active is the Indian community in the presidential elections and What role are they playing?
A; The Indian community has recently become more active in the presidential elections. There are a lot issues that impact us, so we should be involved. Immigration, taxes, global warming, and health care, to name a few. But, Indian Americans still participate much less than other communities. For example, the Jewish community is far stronger politically by proportion. We have a good start, but there is a lot of work to do. Early on, very few Indian Americans participated. Now, with the rise of the second generation, the global importance of India, and the incredible economic success of the Indian American community, there is some positive change: more participation, more activism, more contributions, and even Indian Americans being elected.

Q: Do Indian Americans play any role in shaping the Indo-U.S. relations?
A; Yes. We are increasingly involved in this process. Indian Americans are helping politicians understand the dynamics of both countries and find a common ground. Bicultural status of Indian Americans places them in a unique position to broaden understanding between the countries. This is evidenced by the progress in international trade and in the nuclear 123 deal.

Now I would like to speak to you about why it is important for the Muslim community to be heavily engaged and participate in the political process.

As I said earlier, civic engagement is one of the fundamental ways of taking ownership of our future as controlled by the politics in America. Various Laws and Ordinances which are passed at local, state and national levels impact our lives directly and regularly. They define the extent of our opportunities and limits of our rights and liberties in all aspects of civic life. Given our low level of political engagement preceding the 911 terrorist attacks, we found very few friends in the government in the aftermath of the 911, the legacy of which is still felt today. Aside from the practical reasons, there is a religious obligation for us as well.

First, it is the duty of American Muslims to participate constructively in the political process, if only to protect their rights and support the views and causes they favor. Their participation may also improve the quality of information disseminated about Islam. We call this participation a “duty” because we do not consider it merely a “right” that can be abandoned or a “permission” which can be ignored. It falls into the category of safeguarding of necessities and ensuring the betterment of the Muslim community in this country.

Second, every legitimate means or tool that helps to achieve these noble goals is similarly judged. This includes:

1. The nomination of any competent American Muslim for election to any post where his or her presence may ensure either bringing benefits to American Muslims and other citizens or preventing harm to them. These posts range from those of mayor, state governor, and membership in educational and municipal councils, all the way up to membership in the U.S. Senate and House of Representatives.

2. Self-candidacy by an American Muslim, if the initiative for his/her nomination is not undertaken by the community, or if election laws require this form of candidacy.

3. Adopting a non-Muslim candidate if he/she would be either more beneficial or less harmful to the American Muslim community and the rest of the country.

4. Providing financial support to a non-Muslim candidate.

5. Obtaining American citizenship. Such citizenship emphasizes the true diversity of this country and is a necessary condition for participation in the political process.

6. Both registering to vote and participation in elections and voting are means to a goal.

7. Protection of Muslim civil rights in this country and the enjoyment of positive interaction with other Americans require American Muslims to engage in acts of deliberation to reach consensus on general principles, and to tolerate disagreement on disputed matters.

8. The Muslim minority must have a fair opportunity to practice their faith (as guaranteed by the Constitution of the United States).

9. Both the art of persuasion and the science of public relations have an important role that should not be ignored.

Every credible Muslim American organization needs to step up to the plate for the purpose of our community empowerment within the scope of its legal framework. Community empowerment is successful only when the whole community becomes involved. Take for example, the civil rights movement. It was successful because all African Americans were united in their demand for constitutional rights.

Most of the issues directly impacting us are indeed decided at the local levels. However, we should also note the importance of domestic and foreign policy issues as Muslim Americans - which is largely an immigrant community – and those issues fall under the purview of the federal government and national politics.

If we don’t participate in politics of those arenas, we would deprive ourselves from having a voice in issues like the US foreign policy toward Muslim countries, laws impacting immigrants and immigration, policies governing civil liberties and profiling, judiciary appointments, etc. Therefore, we have to keep in mind that although it is important to focus on the local politics, we simply cannot neglect the politics at the national level.

There are many more compelling reasons one can come up with to make a case for the importance of local political engagements. However, as we move forward, let us not forget the possibility of developing Muslim candidates. Like the development of any candidate, it must start at the local level. As they mature, we should also be mobilized to support their aspiration for national offices.

We should establish a network of active state PACs and coordinate these with a federal PAC, we can indeed have a very powerful political engine with far-reaching impact in upholding the constitutional rights and promoting the fair interests of the Muslim American community.

I know I have taxed your patience. Thank you once again for giving me the opportunity to speak with you today. I wish all of you continued success in the future and look forward to when our paths cross again.

Thank you for your time.
God bless you.

The Vice Chancellor Introduction:

 

Distinguished guests, friends, ladies and gentlemen:

I would like to sincerely thank all of you for coming. Before I introduce our distinguished guest I would like to say few words. All of us would not be here today if we would not have made the journey from Aligarh to America. All of us are linked by common goals and all of us are bonded by common bonds and all of us threaded by common threads. All of us share common destiny. All of us owe a sense of gratitude to Aligarh.

All of us love Aligarh and care deeply about this great institution. To me Aligarh is a shinning city on the hill, beckoning brightly to all who thirst for knowledge and progress. Aligarh remains the beacon of light around the globe.

I would like to thank Qamar Khan and The Federation of Aligarh Alumni Association for giving me opportunity to introduce our distinguished guest, the Vice Chancellor of Aligarh Muslim University, Prof. P.K. Abdul Azis. I want to thank the Vice Chancellor for coming here. We appreciated it very much. I want to thank the Vice Chancellor for his services to Aligarh Muslim University. Indeed it is my privilege and honor to introduce the Vice Chancellor.

I went to Aligarh this year in February after 20 years. I met the Vice Chancellor on several occasions. I was touched by his grace, his strength, his compassion, his courage, and his love of Aligarh. He is the true voice of Aligarh. He is an extraordinary man with extraordinary talent. I admire his vision and his values.

The Vice Chancellor has the experience, and wisdom to lead the Aligarh Muslim University. He is a source of inspiration to all of us. Because of his leadership we face the future of Aligarh with hope and optimism. He is passionate and committed to the Aligarh cause. I know under his leadership the cause of Aligarh will endure and the dream of Sir Syed shall never die.

The dream and aspiration of our young people rests upon him. I know he is committed to preserve and protect and promote Aligarh culture and Aligarh movement. I know he will carry the torch forward.
The Vice Chancellor has brought positive changes to Aligarh .He has brought much needed breadth of fresh air and source of motivation. He has launched a most ambitious, practical, and grassroots effort to transform AMU into a university of international reputation. Let us extend our support to the Vice Chancellor. We have responsibility to lend a helping hand to the Vice Chancellor and his team to restore excellence and to restore Aligarh Muslim University to its glory. We should stand shoulder to shoulder with the Vice Chancellor for the ideals we share and the values we cherish.

In January 2007 Aligarh Muslim University went through tough and turbulent time. The campus was mired in serious indiscipline and violence. The Vice Chancellor suffered and struggled during those difficult and dreadful and dark days of Aligarh. But the Vice chancellor remained calm like an island of calmness in a violent sea.

Ladies and gentlemen the Vice Chancellor is a true leader who believes in his mission and who believes that challenges can be converted into opportunity and impossible can be made possible and unbelievable can be made believable and unacceptable can be made acceptable.

Ladies and gentlemen let us give a warm welcome to the Vice Chancellor of Aligarh Muslim University.

Watch the speech

A speech delivered by Mr. Frank F. Islam introducing the Aligarh vice-Chancellor in Cleveland, Ohio.

 

Leadership and Entrepreneurship

Aligarh University Speech by Frank F. Islam

Mr. Vice Chancellor, Faculty Members, Students, Distinguished Guests, Ladies and Gentlemen:

Before I begin my speech, I’d like to recognize some people who have traveled with me from the United States.  [Acknowledge].   Please give them a warm welcome. 
Thank you very much for inviting me to speak to you today. I’d like to sincerely thank all of you for coming and for your hospitality.  I appreciate it from the bottom of my heart.  I want to sincerely thank Dr. Saleemuddin for providing me with this opportunity.  I am deeply touched by his spirit.
As you can tell, I am honored, thrilled and excited to be here. I am proud to be an alumnus of the Aligarh Muslim University.  To me, Aligarh will always be a shining “City on the Hill” -- beckoning brightly to all who thirst for knowledge and progress.
Let me begin by saying a few words about your Vice Chancellor, Professor Abdul Azis. I admire his leadership.  People like him give us strength, hope and courage. He is a source of comfort, pride and joy to everyone who meets him.  He is passionate, committed and determined. The spirit of this extraordinarily talented man has deeply touched me.
The memory of Aligarh still lingers on my mind and has never faded from my memory.  It is still as fresh in my memory and in my thoughts as it was so many years ago.  My days at A.M.U. have had a profound effect on me.  I still remember riding my bike from V.M. Hall to all over campus.  It was an exciting time of my life, though I must admit… sometimes it was chaotic.  But nevertheless, it was filled with charms, cheers, changes, and challenges.
It was inspiring and the memories remain endearing.  Aligarh provided me with the basic building blocks to become a successful entrepreneur, to assume serious responsibilities, and most importantly, to become a passionate leader.
For me, personally, it’s been a remarkable journey from Aligarh to the United States of America. I came to the U.S. in pursuit of hope, happiness and dreams.  I am a living example of someone realizing the American dream.  I am fortunate.  I am blessed.  My dream has come true.  And I know your dreams will come true too. 
Let me briefly outline what I want to talk to you about today:

Aligarh’s Values

I’ve always depended upon the values Aligarh instilled in me, especially:

I still cherish all these values, and am indebted to AMU for my success as an entrepreneur.

Education

We know many men and women from Aligarh who have made significant contributions in all walks of life -- from educators to politicians, poets, scientists and engineers. They have made their mark on the world and in so doing, stand as role models encouraging those who have yet to achieve their highest aspirations and dreams. We should do what we can to ensure Aligarh remains a premier center of knowledge. We should do our part to give back to our community, to strengthen our families and to educate our children. I am deeply committed to educating our children. We must create an environment that allows our children to excel. 
I cherish the hopes, dreams and aspirations of our future generations. It is our children who are the hope of tomorrow. As Prime Minister Nehru once said:  “We should build the noble mansion where all of our children can dwell, where all our children can prosper and where all our children can have a bright future. It is the future that beckons to us.” 
The supreme interest of Sir Syed’s life was education.  Now more than ever, education is the key ingredient of success.  Education empowers people and strengthens nations.  Education opens doors so anyone can lift himself or herself out of poverty.  It enhances the dignity of human beings, and increases his or her self-respect.  
Let’s do our part to ensure that Sir Syed’s dream never dies.  Let’s fulfill his vision and mission.  Let’s keep his memory alive by doing our part to preserve, protect and promote the Aligarh culture.  Let’s pledge anew our dedication to expanding and propagating the Aligarh movement.
As part of my commitment to education, I’ve created a charitable foundation. The main mission of this foundation is education.  We provide scholarship programs to those students who want to go to school but cannot afford it because of financial hardship.

India’s Promise

You know, people like me -- Non-Resident Aligarians -- are the global representatives of Aligarh and its peoples, languages, religions, values, cultures and history.  Non-Resident Aligarians should look at ways in which we can become catalysts in the growth of AMU.  I urge the Vice Chancellor to convene a meeting of Non-Resident Aligarians at AMU so we can play an important role in Aligarh’s journey towards becoming an even stronger and more vibrant institution.
India is now a major engine of the global economy. India is attracting foreign investment and fostering a business climate that has created a vibrant new generation of business leaders. A new class of entrepreneurs is emerging in India, adding momentum to the country’s economic boom. 
Unfortunately, the enormity of the poverty problem still plagues India. India is only shining for a small minority.  For all too many, India is getting darker.  What we have in India is an island of prosperity in an ocean of poverty.  The lack of basic access to sanitation, education, nutrition and healthcare represents a broken base that precludes our fellow citizens from advancing up the pyramid of success. 
Poverty drains institutions of good governance, depletes scarce resources, weakens leadership and crushes hope. Poverty fuels frustration and Poverty fuels desperation. Poverty does not belong in a civilized society.  Its proper place is in museum.
It has been shown that poor people trying to break out of poverty would much rather be given an opportunity to improve their condition via their own work, rather than simply receiving a hand-out. We should focus on helping people realize their potential to succeed, rather than merely applauding the end result of success itself. 
You and I, working together, need to dismantle the barriers of India’s caste system.  We should provide equal opportunities in education and jobs to all citizens of India, regardless of color, caste, creed or religion.  Discrimination based on caste or minority status can shatter people’s ambitions and dreams.  It does not close the gap between rich and poor, but rather causes social unrest and holds back India’s ambition to become a major economic, cultural and diplomatic power. 
Let us do what we can to eradicate poverty. We must be united in our fight against disease, ignorance, poverty, tyranny and terrorism. Only when we are united will we have the strength to triumph.
The best way to eradicate poverty is through education and entrepreneurship.  Entrepreneurship and leadership can deliver on the dreams we all have, turning hope into reality!

Entrepreneurship and Leadership

Now, this leads me to my topic for today, which is “Entrepreneurship and Leadership.”  I’m sure many of you here today have the desire, the drive and the dreams of becoming entrepreneurs. Dreams give us the strength that carries us through.  It is not we who carry the dream… Perhaps the dream carries us.
As an entrepreneur, I look at India and see the potential for free enterprise and creativity to unlock many of the intractable problems that we face today. 
I love entrepreneurship. There is nothing like the excitement, glory, fun and sheer thrill of starting something from scratch and watching it grow into a large enterprise of astonishing proportions. If you have the opportunity to be an entrepreneur, grab it.  Find passionate and driven people and lead them.  Give them all the necessary resources, and then give them some oxygen to breathe.
We should help our young men and women to become entrepreneurs.  We must provide them with business mentoring and seed funding to start-up. These young entrepreneurs will learn how to build a business, develop a credit history and ultimately become employers themselves.  As each new enterprise takes a firm root, we can be proud that we helped transform a young person into a LEADER. 
In order for an entrepreneur to succeed, capital is needed to convert the vision into reality. Governments and banks have an obligation to provide loans to entrepreneurs. 
I am a strong believer that everyone deserves a chance – a chance to get a decent education; a chance to get a good job; a chance to grow a successful business; a chance to raise a healthy and happy family, and a chance to prosper.  We should provide opportunity to all people -- not just a fortunate few.

Taking Risks

Entrepreneurship is all about taking risks, being focused and committed. It is about confronting uncertainty with optimism, ingenuity and creativity.
We have to get out of our comfort zone, venture into new horizons and experience new environments.  We must not be afraid of taking chances.  If we fail, we must simply get up and try again.  Perhaps we will fail further… but nevertheless, we must try yet again.  Success teaches you how to move forward, but failure teaches you to never go backwards.  Thus, failure is the first step to success.

Passion

Another important element of entrepreneurship is passion. Without passion you cannot succeed, for it is passion that keeps you striving when times are difficult, as all endeavors will be at some point. Without passion, resources will never be enough and they will quickly dissipate into thin air.  But your passion will always find a way, even when probabilities conspire against your dream.

Focus

One of the most important ingredients of entrepreneurship for me is Focus. When a company does not focus, it is planting seeds for future problems. When a company becomes one mile long and one inch deep, it loses its power. But, when a company focuses like a laser, it can convert a few kilowatts of energy into coherent and powerful energy. When a company focuses like a laser, it can drill hole in a diamond, and can even cure cancer! 
A lack of focus is like the sun that dissipates its vast energy by shining its light in all directions. Focus is power. It creates a powerful perception of resolve in the minds of your customers, employees and competitors.  Maintaining a laser-like focus is effective in the long term.  It doesn’t reap rewards overnight. You have to have patience. It takes a long time to turn around a corporate battleship in the river.  I can’t emphasize enough how extremely important Focus has been in the success of my own company. 
There are many opportunities for entrepreneurship in India. You have to identify and exploit the openings in such industries as energy, infrastructure, education, communication, transportation and information technology. 
Entrepreneurship is not primarily about maximizing profits, but rather engaging all the stakeholders – that is, the communities and people who are affected by the nature of your business.  To be a good entrepreneur is to treat people with the utmost respect and dignity.

Customer Satisfaction

Before I speak to you about leadership, I would like to say few words about customer satisfaction and the role customers play in making a company successful.  You should treat customer the way we all want to be treated ourselves.  To better relate to customers, I’ve developed the following values and practices to live by:

What is Leadership?

Now, I would like to speak to you about effective and efficient leadership. The long-term success of entrepreneurship rests upon training a generation of people with the skills to excel as leaders in business.
Before you can become a leader, you must first focus on growing yourself.  After becoming a leader, success is all about growing others.  Here are some of the other elements of a successful leader:

I would like to say more regarding several of these leadership qualities that I just mentioned:
First, winning companies embrace risk-taking and learning. You should create a culture that welcomes risk-taking.  But to take prudent risks, you must freely admit when mistakes happen, and why.  That way, risky decisions in the future will benefit from the lessons learned from past mistakes. If you want to change, set the example yourself. You will love the exciting culture you create and the results you get – and so will your team.
The second leadership quality to emphasize is that Leaders Celebrate.  Celebrating make people feel like winners and creates an atmosphere of recognition and positive energy. Work is too big a part of life not to recognize the moments of achievement. Grab as many as you can. There is no easy formula for being a leader. Leadership is challenging – all those balancing acts, all those responsibilities, and all that pressure. Leaders care passionately about their people.  Indeed, leadership is really all about helping other people succeed and grow. 
We did not talk about employees, which is an important element of successful leadership.  Leaders should listen to the people who actually do the work.  Develop trust among employees.  Empower employees.  Enable employees to speak out freely.  Respect their dignity and recognize their contributions. 
Let me say a few words about the decision-making process.  Remember you are not a leader to win a popularity contest – you are a leader to LEAD!  When making difficult decisions, leaders must balance short term risk with long term rewards.  It takes courage to balance risk and reward.  Leaders should be aware of the strengths and weaknesses, motivations and biases in order to manage the risk-reward balancing most effectively.
A leader has to articulate how to achieve maximum performance with clarity and forthrightness.  There are no secret formulas for succeeding in business.  But you should craft a tightly woven, carefully scripted business philosophy that provides crisp guidelines for every aspect of business.

Leadership is about vision and values – knowing what you believe and then knowing when and how to act according to those beliefs.  This means making decisions that entail some risk -- based on instinct, intuition and belief – rather than decisions based exclusively on data.

My Experiences

I’d like to say a few words about my own experience as a CEO.  I cultivated a very vision-driven organization into a tightly-focused company whose employees all knew precisely what was expected of them, and always delivered exactly what they promised.  I gave people at all levels specific tools and metrics, and enforced fact-based decision-making.  Managers at all levels in my company honored these commitments, engaged in disciplined meetings, focused on decisions and measured progress against stated objectives.  I surrounded myself with some great performers who delivered results.

Ladies and Gentlemen, a sense of humility brings us together as Aligarians linked by a common goal to do what we can to benefit humanity. All of you deserve an opportunity to experience prosperity. Entrepreneurship can help you break out of the vicious cycle of poverty. I do not want to sugarcoat the challenges that you will face as an entrepreneur. However, you should be able to conquer these challenges and convert them into opportunities. Initially, you may experience disappointment, despair, and darkness, but always remember that there will be a bright light at the end of the tunnel.

I hope and pray that one day that the glow of light from this great institution will penetrate deep into the darkness, and light up the whole world.  As Alexander Smith once said, “A man does not plant a tree for himself.  He plants it for posterity.”Let us continue to plant and our children shall reap the harvest.

Closing

I’d like to close my speech with Sir Syed’s words:
“You have reached a particular stage and remember one thing, that when I undertook the task, there was criticism all around against me, abuses were hurled upon me, life had become so difficult for me that I aged before my age, I lost my hair, my eyesight, but not my vision. My vision never dimmed, my determination never failed, I built this institution for you and I am sure, you will carry the light of this institution far and wide, darkness will disappear from all around.”
Thank you for giving me the opportunity to speak with you today. Thank you for your time, and for your commitment to make a difference in the lives of others.  I wish all of you continued success in the future, and look forward to when our paths cross again.  I am confident you will achieve your goals.  I am sure you will rise to the challenge, and transform you passion into profits. 
Always remember, that no matter how steep the pass, or how discouraging the pace, I implore you to never give up on your goals.

If you need a copy of my speech you can visit my website www.ffislam.com.

Thank you and God bless you.                

 

watch the speech

A keynote speech delivered by Mr. Frank F. Islam at the Aligarh University in India. In this speech Mr. Islam addresses the concept of Leadership and Entrepreneurship based on his own Entrepreneurial and leadership exprience.

 

Leadership and Entrepreneurship

Jamia Millia University Speech by Frank F. Islam

 

Faculty Members, Students, Distinguished Guests, Ladies and Gentlemen:
Before I begin my speech, I’d like to recognize some people who have traveled with me from the United States.  [Acknowledge].   Please give them a warm welcome. 
Thank you very much for inviting me to speak to you today. I’d like to sincerely thank all of you for coming and for your hospitality.  I appreciate it from the bottom of my heart. As you can tell, I am honored, thrilled and excited to be here.
I am the alumnus of the Aligarh Muslim University. My stay at Aligarh was inspiring and the memories remain endearing.  Aligarh provided me with the basic building blocks to become a successful entrepreneur, to assume serious responsibilities, and most importantly, to become a passionate leader.

For me, personally, it’s been a remarkable journey from Aligarh to the United States of America. I came to the U.S. in pursuit of hope, happiness and dreams.  I am a living example of someone realizing the American dream.  I am fortunate.  I am blessed.  My dream has come true.  And I know your dreams will come true too. 
Let me briefly outline what I want to talk to you about today:

Values

I’ve always depended upon the values my parents instilled in me, especially:

I still cherish all these values.

Education

We know many men and women from this great institution who have made significant contributions in all walks of life -- from educators to politicians, poets, scientists and engineers. They have made their mark on the world and in so doing, stand as role models encouraging those who have yet to achieve their highest aspirations and dreams. We should do what we can to ensure Jamia Millia remains a premier center of knowledge. We should do our part to give back to our community, to strengthen our families and to educate our children. I am deeply committed to educating our children. We must create an environment that allows our children to excel. 
I cherish the hopes, dreams and aspirations of our future generations. It is our children who are the hope of tomorrow. As Prime Minister Nehru once said:  “We should build the noble mansion where all of our children can dwell, where all our children can prosper and where all our children can have a bright future. It is the future that beckons to us.” Remember past is history not destiny. It reminds me song of Fleetwood Mac - Do not stop thinking about tomorrow, Yesterday is gone. 
Education is the key ingredient of success. Education empowers people and strengthens nations.  Education opens doors so anyone can lift himself or herself out of poverty.  It enhances the dignity of human beings, and increases his or her self-respect.  
Let’s do our part to preserve, protect and promote the Jamia Millia’s culture.  Let’s pledge anew our dedication to expanding and propagating the movement of this great institution.
As part of my commitment to education, I’ve created a charitable foundation. The main mission of this foundation is education.  We provide scholarship programs to those students who want to go to school but cannot afford it because of financial hardship.

India’s Promise

You know, people like me -- Non-Resident Indians -- are the global representatives of India and its peoples, languages, religions, values, cultures and history.  Non-Resident Indians should look at ways in which we can become catalysts in the growth of India. 
India is now a major engine of the global economy. India is attracting foreign investment and fostering a business climate that has created a vibrant new generation of business leaders. A new class of entrepreneurs is emerging in India, adding momentum to the country’s economic boom. 

Unfortunately, the enormity of the poverty problem still plagues India. India is only shining for a small minority.  For all too many, India is getting darker.  What we have in India is an island of prosperity in an ocean of poverty.  The lack of basic access to sanitation, education, nutrition and healthcare represents a broken base that precludes our fellow citizens from advancing up the pyramid of success. 

Poverty drains institutions of good governance, depletes scarce resources, weakens leadership and crushes hope. Poverty fuels frustration and Poverty fuels desperation. Poverty does not belong in a civilized society.  Its proper place is in museum.
It has been shown that poor people trying to break out of poverty would much rather be given an opportunity to improve their condition via their own work, rather than simply receiving a hand-out. We should focus on helping people realize their potential to succeed, rather than merely applauding the end result of success itself. 

You and I, working together, need to dismantle the barriers of India’s caste system.  We should provide equal opportunities in education and jobs to all citizens of India, regardless of color, caste, creed or religion. Remember we all are God’s children.  Discrimination based on caste or minority status can shatter people’s ambitions and dreams.  It does not close the gap between rich and poor, but rather causes social unrest and holds back India’s ambition to become a major economic, cultural and diplomatic power. 
Let us do what we can to eradicate poverty. We must be united in our fight against disease, ignorance, poverty, tyranny and terrorism. Only when we are united will we have the strength to triumph.

The best way to eradicate poverty is through education and entrepreneurship.  Entrepreneurship and leadership can deliver on the dreams we all have, turning hope into reality!

Entrepreneurship and Leadership

Now, this leads me to my topic for today, which is “Entrepreneurship and Leadership.”  I’m sure many of you here today have the desire, the drive and the dreams of becoming entrepreneurs. Dreams give us the strength that carries us through.  It is not we who carry the dream… Perhaps the dream carries us.

As an entrepreneur, I look at India and see the potential for free enterprise and creativity to unlock many of the intractable problems that we face today. 

I love entrepreneurship. There is nothing like the excitement, glory, fun and sheer thrill of starting something from scratch and watching it grow into a large enterprise of astonishing proportions. If you have the opportunity to be an entrepreneur, grab it.  Find passionate and driven people and lead them.  Give them all the necessary resources, and then give them some oxygen to breathe.

We should help our young men and women to become entrepreneurs.  We must provide them with business mentoring and seed funding to start-up. These young entrepreneurs will learn how to build a business, develop a credit history and ultimately become employers themselves.  As each new enterprise takes a firm root, we can be proud that we helped transform a young person into a LEADER. 

In order for an entrepreneur to succeed, capital is needed to convert the vision into reality. Governments and banks have an obligation to provide loans to entrepreneurs. 
I am a strong believer that everyone deserves a chance – a chance to get a decent education; a chance to get a good job; a chance to grow a successful business; a chance to raise a healthy and happy family, and a chance to prosper.  We should provide opportunity to all people -- not just a fortunate few.

Taking Risks

Entrepreneurship is all about taking risks, being focused and committed. It is about confronting uncertainty with optimism, ingenuity and creativity.
We have to get out of our comfort zone, venture into new horizons and experience new environments.  We must not be afraid of taking chances.  If we fail, we must simply get up and try again.  Perhaps we will fail further… but nevertheless, we must try yet again.  Success teaches you how to move forward, but failure teaches you to never go backwards.  Thus, failure is the first step to success.

Passion

Another important element of entrepreneurship is passion. Without passion you cannot succeed, for it is passion that keeps you striving when times are difficult, as all endeavors will be at some point. Without passion, resources will never be enough and they will quickly dissipate into thin air.  But your passion will always find a way, even when probabilities conspire against your dream.

Focus

One of the most important ingredients of entrepreneurship for me is Focus. When a company does not focus, it is planting seeds for future problems. When a company becomes one mile long and one inch deep, it loses its power. But, when a company focuses like a laser, it can convert a few kilowatts of energy into coherent and powerful energy. When a company focuses like a laser, it can drill hole in a diamond, and can even cure cancer! 
A lack of focus is like the sun that dissipates its vast energy by shining its light in all directions. Focus is power. It creates a powerful perception of resolve in the minds of your customers, employees and competitors.  Maintaining a laser-like focus is effective in the long term.  It doesn’t reap rewards overnight. You have to have patience. It takes a long time to turn around a corporate battleship in the river.  I can’t emphasize enough how extremely important Focus has been in the success of my own company. 

There are many opportunities for entrepreneurship in India. You have to identify and exploit the openings in such industries as energy, infrastructure, education, communication, transportation and information technology. 

Entrepreneurship is not primarily about maximizing profits, but rather engaging all the stakeholders – that is, the communities and people who are affected by the nature of your business.  To be a good entrepreneur is to treat people with the utmost respect and dignity.

Customer Satisfaction

Before I speak to you about leadership, I would like to say few words about customer satisfaction and the role customers play in making a company successful.  You should treat customer the way we all want to be treated ourselves.  To better relate to customers, I’ve developed the following values and practices to live by:

What is Leadership?

Now, I would like to speak to you about effective and efficient leadership. The long-term success of entrepreneurship rests upon training a generation of people with the skills to excel as leaders in business.
Before you can become a leader, you must first focus on growing yourself.  After becoming a leader, success is all about growing others.  Here are some of the other elements of a successful leader:

I would like to say more regarding several of these leadership qualities that I just mentioned:
First, winning companies embrace risk-taking and learning. You should create a culture that welcomes risk-taking.  But to take prudent risks, you must freely admit when mistakes happen, and why.  That way, risky decisions in the future will benefit from the lessons learned from past mistakes. If you want to change, set the example yourself. You will love the exciting culture you create and the results you get – and so will your team.

The second leadership quality to emphasize is that Leaders Celebrate.  Celebrating make people feel like winners and creates an atmosphere of recognition and positive energy. Work is too big a part of life not to recognize the moments of achievement. Grab as many as you can. There is no easy formula for being a leader. Leadership is challenging – all those balancing acts, all those responsibilities, and all that pressure. Leaders care passionately about their people.  Indeed, leadership is really all about helping other people succeed and grow. 

We did not talk about employees, which is an important element of successful leadership.  Leaders should listen to the people who actually do the work.  Develop trust among employees.  Empower employees.  Enable employees to speak out freely.  Respect their dignity and recognize their contributions. 

Let me say a few words about the decision-making process.  Remember you are not a leader to win a popularity contest – you are a leader to LEAD!  When making difficult decisions, leaders must balance short term risk with long term rewards.  It takes courage to balance risk and reward.  Leaders should be aware of the strengths and weaknesses, motivations and biases in order to manage the risk-reward balancing most effectively.
A leader has to articulate how to achieve maximum performance with clarity and forthrightness.  There are no secret formulas for succeeding in business.  But you should craft a tightly woven, carefully scripted business philosophy that provides crisp guidelines for every aspect of business.

Leadership is about vision and values – knowing what you believe and then knowing when and how to act according to those beliefs.  This means making decisions that entail some risk -- based on instinct, intuition and belief – rather than decisions based exclusively on data.

My Experiences

I’d like to say a few words about my own experience as a CEO.  I cultivated a very vision-driven organization into a tightly-focused company whose employees all knew precisely what was expected of them, and always delivered exactly what they promised.  I gave people at all levels specific tools and metrics, and enforced fact-based decision-making.  Managers at all levels in my company honored these commitments, engaged in disciplined meetings, focused on decisions and measured progress against stated objectives.  I surrounded myself with some great performers who delivered results.

Ladies and Gentlemen, a sense of humility brings us together as fellow citizens linked by a common goal to do what we can to benefit humanity. All of you deserve an opportunity to experience prosperity. Entrepreneurship can help you break out of the vicious cycle of poverty. I do not want to sugarcoat the challenges that you will face as an entrepreneur. However, you should be able to conquer these challenges and convert them into opportunities. Initially, you may experience disappointment, despair, and darkness, but always remember that there will be a bright light at the end of the tunnel.

I hope and pray that one day that the glow of light from this great institution will penetrate deep into the darkness, and light up the whole world.  As Alexander Smith once said, “A man does not plant a tree for himself.  He plants it for posterity.”Let us continue to plant and our children shall reap the harvest.

Closing

I’d like to close my speech with Sir Syed’s words:

“You have reached a particular stage and remember one thing, that when I undertook the task, there was criticism all around against me, abuses were hurled upon me, life had become so difficult for me that I aged before my age, I lost my hair, my eyesight, but not my vision. My vision never dimmed, my determination never failed, I built this institution for you and I am sure, you will carry the light of this institution far and wide, darkness will disappear from all around.”

Thank you for giving me the opportunity to speak with you today. Thank you for your time, and for your commitment to make a difference in the lives of others.  I wish all of you continued success in the future, and look forward to when our paths cross again.  I am confident you will achieve your goals.  I am sure you will rise to the challenge, and transform you passion into profits. 

Always remember, that no matter how steep the pass, or how discouraging the pace, I implore you to never give up on your goals.

If you need a copy of my speech you can visit my website www.ffislam.com.

Thank you and God bless you.                

watch the speech

A keynote speech delevered by Mr. Frank F. Islam at the Jamia Millia Universtiy in India in 2008. In this speech Mr. Islam addresses the issue of Leadership and Entrepreneurship based on his own experience and leadership.

 

Remarks by Frank Islam to
The Muslim Social Uplift Societies

Ladies and Gentleman:

I want to sincerely thank my host, Professor Khwaja Mubin Ahmad, for inviting us here. I see a lot of energy, optimism and hope. All of you are doing a great job. Please continue your efforts.

One day you will be a successful alumnus, just like me. After you graduate, remember it’s your responsibility to serve your community. You need to nurture and develop your brothers and sisters so they too can cultivate the harvest of prosperity. Your vision and mission should be to help India’s Muslims to breakout of the vicious cycle of poverty.
India’s 140 million Muslims are falling behind in some very critical areas, including education. In some states, education and poverty indications show that Muslims have fallen behind even low-caste Hindus!

Poverty crushes one’s hope for self-improvement. Poverty fuels frustration. Poverty fuels desperation. The best way to eradicate poverty is through education. We need to train a generation of Muslims with the skills to excel as leaders. All of you -- our future leaders -- are the hope of tomorrow. You stand as role models for those yet to achieve their aspirations and dreams.

I am a generous contributor to the Aligarh Scholarship Program. I am deeply committed to education, especially for Muslims. Education empowers people and uplifts them from poverty. Education enhances the dignity of a human being, and increases his or her self esteem. Education, especially in today’s world, is a key ingredient for success, and it provides upward mobility economically, socially and culturally.

Thank you again for coming today. It is very gratifying to see how this scholarship program is helping you. You are an inspiration to all of us. I cherish the hope, dreams and aspirations of our young generation. Your success story resonates well with my commitment to the Aligarh Scholarship Program.

Let us fulfill Sid Syed’s vision and his mission. Let us keep his memory alive. Let us do our part to ensure that the dreams of future generations of Muslims shall never die.

If you wish to know more about me and my company, please visit my webpage at www.fiig.net .

God bless you.

watch the speech

A keynote speech delivered by Mr. Frank F. Islam at the Muslim Social Uplift Society, Aligarh, India. In this speech, Mr. Islam addresses the issue of poverty in India and proposes one of the most effective ways to eradicate it based on his own experience and leadership.

 

Distinguished guests, friends, ladies and gentlemen,

I would like to welcome honored guests and friends to this occasion and thank my hosts for giving me an opportunity to address you today on the subject of “Empowerment of Indian Minorities through Business Entrepreneurship”. I congratulate the Federation of Aligarh Alumni for its continued success in honoring the legacy of Sir Syed Ahmed Khan and remembering our commitment to the principles upon which Aligarh Muslim University was founded – service to humanity.
At the turn of the century the richest nations in the world gathered to discuss an agenda for alleviating poverty in developing countries. They published a list of Millennium Development Goals, the most ambitious of which was to reduce by halve the number of people in the world living in poverty by 2015. At the halfway point, however, it is clear that none of these goals will be achieved in time. In a few years we’ll probably be cutting and pasting the same list of goals into bold pronouncements for the 2020 or the 2050 plan, but with little to show for our efforts.

There are countries that have made substantial gains in economic growth, harnessing the opportunities presented by globalization—both in the form of economic and political reform. In this respect India deserves credit for attracting foreign investment and fostering a business climate that has created a vibrant new generation of business leaders, activist, and reformers.   India is becoming a major power.

I am going to speak about poverty in India.
By some measures, poverty in India has declined in the last decade. Youth literacy rates and childhood school enrollment has improved while infant mortality is down and life expectancy has increased. Yet those of us who have been to India know that countrywide statistics do little justice in conveying the enormity of the problem of poverty that still plagues India, and in particular, Muslim India, in which vast numbers of people have completely missed the globalization train.  What we have in India is an island of prosperity in an ocean of poverty.

Poverty of this magnitude has far reaching implications for state and for citizen. The abject poverty in which so many millions of Indians live is a drain on the economy.  Poor people struggle to survive on the barest of essentials and are scarcely in a position to contribute to national growth and development. Poverty drains institutions of governance, depletes resources, weakens leaders and crushes hope.

Poverty fuels a dangerous mix of desperation and instability that has been ignited numerous times in outbursts of communal violence.  This was never more apparent to us than during the riots in Gujarat.

There will be no single magic solution to eliminating poverty nor can we expect a single entity, be it the government or the World Bank or other aid-giving organizations to shoulder the entire burden.

It is a multifaceted problem that cannot be reduced to mere statistical measurements.  And poverty will not easily disappear by increasing the number of jobs or classrooms accessible to poor people. Nobel Laureate Amartya Sen’s pioneering work in this field has shown that our analysis of poverty should focus on an individual’s potential to function rather than the results the individual obtains from functioning. Individuals working to uplift themselves is critical element of the process, but without building a complete infrastructure of social support mechanisms and providing social freedom and mobility

THE SACHAR REPORT FINDINGS on EDUCATION

The Rajindar Sachar report, published in November of last year proved what we already knew anecdotally that “while there is considerable variation in the conditions of Muslims across states, the [Muslim] Community exhibits deficits and deprivation in practically all dimensions of development.”

India’s 140 million Muslims are falling behind in many key categories, including education, access to credit, and incidence of crime.  In some states, education and poverty indicators show that Muslims have fallen behind even low-caste Hindus, a controversial finding that many have had difficulty in accepting.  The disparities are most striking when it comes to education. Consider these findings:

Among Muslims, the literacy rate is about 59 per cent, compared with more than 65 per cent among Indians as a whole;

On average, a Muslim child attends school for three years and four months, compared with a national average of four years; 

Less than four per cent of Muslims graduate from school, compared with six per cent of the total population;

Less than two per cent of the students at the elite Indian Institutes of Technology are Muslim;

About 55 percent of Muslims in villages and 60 per cent in urban areas have never been to school. The national average is 41 per cent in rural areas and 20 per cent in urban areas. In rural areas, less than 1 per cent of Muslims graduate, while in urban areas only about three per cent graduate.

The Sachar report has deepened our understanding of how entrenched poverty in the Indian Muslim community has become. Basic access to sanitation, education, adequate nutrition and health care are just the base of a pyramid that prohibits our community from advancing. The majority of workers in the Muslim community are unskilled wage earners and Muslims are disproportionately underrepresented in regular salaried or civil service positions.

Higher up the value chain the situation remains bleak. The Sachar report states that “the flow of credit to Muslims is quite limited [and the ] non-availability of credit can [has] far-reaching implications for the socio-economic and educational status of the Community.”   Lack of access to education, higher wages, creates a vicious cycle that crushes a man’s hope for improvement. 

Now I am going to speak to you on social entrepreneurship:
A politician would stand before you and preach pious platitudes about the progress made in combating poverty in India and the potential for future success. An economist would delve deeply into a discussion of the market forces which drive poverty.  I am neither. I stand before you as a businessman and an entrepreneur and so I can only speak about the problem as I see it and practical ways that I think we can resolve it.

 

As an entrepreneur, I look at India and see the potential for free enterprise and creativity to unlock some of the intractable problems the Muslim community faces today.  This entrepreneurial spirit must not be fueled by greed or the relentless pursuit of profit maximization. On the contrary I believe there is an approach to business and entrepreneurship that can uplift all Indians and improve the condition of those mired in abject poverty without conceding competitiveness and sacrificing the bottom line. 

The enormous success of Nobel Laureate Mohammed Yunus’ microcredit finance project that began in Bangladesh in 1974 spawned an entire discipline and new methodology for combating the root causes of poverty around the world. His experiment is living proof that corporations and businesses can find ways to act responsibly without sacrificing profits and that markets can reward good stewardship with increased revenues.  In India the entrepreneurship that will benefit society is that which considers how business is done, and not just how much business is done.

If private enterprise is to thrive then it must be adept at responding to change. Dynamism – that ability to face up risk and uncertainty with ingenuity and creativity – is precisely what drives developing economies to the forefront, the opposite of which is laziness and complacency. Organizations – be they public or private – must constantly reinvent themselves or else they become obsolete and useless to those who consume their products and services.

Ideas must be, as they say, incubated – nurtured with the creative energy of not just one or two people but often entire teams of strategists and planners. Herein lies a great strategic opportunity for minority communities in India – a long-term vision that combines human resource development with technological literacy to provide a solid foundation for promoting free enterprise and entrepreneurial activity.

We must also recognize where the good opportunities lie and focus our energy on those opportunities. While building my business in the United States for the last 15 years I have learned that entrepreneurs in the West function at the fringes – looking for breakthrough technologies and innovations that will change the way people do business.

In places like India the entrepreneurial space is much closer to the center.  The greatest opportunities often lie in providing the most basic services that the government has failed to or is incapable of delivering. Identifying and exploiting these openings – in energy production and distribution, education, transportation, communication – will be essential for the long-term success and development of the Muslim community.

For any of this to happen we must train a generation of Muslims with the skills to excel as leaders in business, in the civil service, and in the creation of culture and arts which create pride and honor in the contributions that we as Muslims living in a pluralistic society are able to m