If you aren't committed to diversity of thought, you have no business launching a startup.
Interpretation
Diversity of thought is essential for the success of startups.
Sallie Krawcheck emphasizes that commitment to diverse perspectives and ideas is crucial for startups. Without embracing different thoughts and viewpoints, a startup may lack the innovative edge that comes from varied experiences and insights, ultimately impacting its chance of success in a competitive environment.
In practice
This quote can be used in a startup pitch to highlight the importance of diverse ideas.
What you hear and what the research shows is that gentlemen negotiate for their first job. Women do not negotiate from their first job and on. And I tell women there is no H.R. fairy godmother. There might be, but you better not count on it.
The research indicates that when we women invest, we women do tend to be more patient, take a longer-term perspective and as a result of it, tend to be better investors than men. But the messages we get are that investing is sort of 'the guys' world.'
As an entrepreneur, I've learned how crucial it is to be able to call a spade a spade and avoid falling in love with a particular strategy or product. Instead, you need to let the customer tell you what she needs - and to change her as she changes.
Somehow, there is this feeling that women require remedial financial education, and so everything must be dumbed down. The reality is that we all need a lot more education, but guys just go ahead and invest anyway.
In the old world of business, there was often just one seat at the leadership table for women, two at best. That meant that only so many women could advance. But in a world where women recognize the power that they own - and where technology can upend the traditional rules of engagement - one woman winning doesn't mean another loses.
Your career is not going to go the way you planned. It is impossible at the age of 23 to pick the right industry, the right company, and you can visualize what you're going to be doing in your 40s, 50s, and 60s, but chances are that it's going to be something quite different. So remain open to opportunities and change.
We need to put ourselves in the shoes of our customers. That is my new battle cry. Live and breathe Starbucks the way our customers do.
If advertisers spent the same amount of money on improving their products as they do on advertising then they wouldn't have to advertise them.
Starbucks is not an advertiser; people think we are a great marketing company, but in fact we spend very little money on marketing and more money on training our people than advertising.
The central task for a business is to make a profit. The challenge is to make a profit by doing things which are genuinely good for people and good for societies.
I think any company should compete on the quality of their products, their prices, the novelty they can produce, their services, because that would be fair competition.
When you start a company, it's a singular focus. You have the wind at your back.
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