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Entrepreneurship
Course: Entrepreneurship > Unit 1
Lesson 18: Toby Rush - CEO & Founder of EyeVerifyStaying grounded
Created by Kauffman Foundation.
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- This lesson your talking about at, I understand its probably a life long journey but i have to ask, is there a certain approach you take when dealing with the stress as it happens through the day to day grind? Breathing exercise, yoga or do you think about your family and such? 2:00(3 votes)
- At Approximately 011 how does the farm and subsequent jobs leading up to the entrepreunership lead to it.(2 votes)
- When is the next unit of the Entrepreneurship category going to be available?(2 votes)
- I would like to know if the app distinguish from a photograph and the real eyes?(4 votes)
- It probably requires the user to blink or wink to show they are not a simple photograph(1 vote)
- is there any way to proceed in any bussiness?(0 votes)
- It is a final line between different kind of business ( ideas ...and complete business) how do you separate those without not violating the other ones ?(0 votes)
Video transcript
- My name is Toby Rush, I'm
CEO and founder of EyeVerify. I was fortunate to grow
up in one of the most entrepreneurial environments
anyone can ever dream of, and it's called the farm. I was throwing hay when
I was in junior high. My dad bought me a
couple of pigs and said, "you take care of the
feed and the vet fee" and then I sold those and bought more, and then I bought a couple cows
and then I started doing hay and then I had my own straw business. I didn't think I was
creating my own companies, but that's what I was doing, and I look back at what
my dad and my grandpa did, they're a CEO and CFO and
COO and they ran massive small businesses day in, day out. I don't think I recognized
it until really now what I'm doing, I'm doing a
lot of the same stuff they did. I've been being in entrepreneur spaces CEO and founder for twelve years now. I've always just enjoyed being
out in the front and leading. If you can't trust the
guy leading the company, especially in a field that
you're not familiar with, it's not gonna work. I've pitched to a lot of customers, I've pitched to a lot
of venture capitalists, I've raised a lot of money,
I talked to a lot of people, and one of my downfalls is
I pack an enormous amount of very dense information in
very short periods of time, and as eyes would glaze over I realized that's not very effective,
so I just really learned over time just to pare
back the information, to really use visuals, use
analogies, emotional words that kind of tie it all together. A startup is a crazy,
emotional roller coaster. Lots of ups and downs
and lefts and rights. You're gonna be hearing, "no,
that's not going to work" or "that doesn't make any sense"
or "that's ridiculous". I'm a competitor at heart,
so I love a competition. One of the hardest things I had to learn, how do I separate myself from the company? So if the company succeeds or fails, that doesn't mean I as a
person am less or more. So being able to separate those two, and know I am grounded and
have a foundation that is independent of the company. Now, it's impossible not
to let my company's success or failure impact me,
that's just not human, but at the end of the
day, I've got a family, a set of friends, people
who love me for who I am, not the success or failure of my company. That is one of the hardest
lessons as an entrepreneur you've got to learn, is
to separate your emotions from the ride of the company. And when you ask yourself,
is this really gonna work? Am I really doing the right thing? Should I just shut the
dang thing down now? If you get a number of
really close friends who've been there, done
that, and you all look at it, and you can take the emotions
out of it, and you say, "this doesn't have the legs,
it doesn't have the scale, you know what, we gotta shut this down, we're just wasting money,
we're wasting time and money and resources that it's
simply not gonna scale". So, it's not an easy decision,
but entrepreneurs also have this incredible drive
and tenacity to sometimes push through that and prove them wrong, and then that's the razor's
edge that we live on.