Founder of Priceline.com & Ubid.com Discusses the Art of innovation with Entrepreneurs’ Organization
Entrepreneurs’ Organization (EO) hosted Jeff Hoffman at the Emirates Golf Club in Dubai on the occasion of its monthly key leadership event for its members and their children. The session focused on the art of science and innovation and taught liked-minded entrepreneurs techniques for greater success in business and life.
Jeff Hoffman is a world-renowned, successful entrepreneur behind multiple start-ups such as priceline.com, ubid.com, a motivational speaker, published author, Hollywood film producer, and a producer of a Grammy-winning jazz album. Five years ago, Jeff started an entrepreneurship world tour, taking him on a new journey during which he studied the most successful people and innovators worldwide to understand what they do to stay at the top. He was recently on a tour across the GCC where he visited four countries in five days to meet people and entrepreneurs to help them make the world a better place.
Some people and companies continually achieve excellence but what are they doing that everyone else isn’t? Why is there always someone who’s the best in each field? These are some of the questions that Jeff asked the EO audience and attempted to answer from lessons he learned from innovators and some of the most successful personalities. EO entrepreneurs were also introduced to techniques/concepts such as ‘Info-Sponging’ and ‘Blue Sky Sessions’. ‘Info-Sponging’ consists of cultivating curiosity and taking ten minutes every day to learn something new. A ‘Blue Sky Session’ invites business owners to reinvent themselves with no rules to grow their business, and this is done by not only looking at their business and making alterations, but rather working on their company as if they were starting from scratch.
Key takeaways from the session were that there is no one secret to success. Building and growing a business requires you giving your business the best, to be the best, and keep practicing. Jeff’s definition of innovation is that it is a process, not an accident. Constantly innovating will help entrepreneurs and companies stay ahead of competition – this will increase one’s ability to innovate.
Sanjay Narang, President Entrepreneurs Organisation, commented: “Jeff’s thoughtful observations and discussions with our members were important at a time where the entrepreneurship scene is growing rapidly in the UAE, the region and globally. EO’s theme this year is ‘Make a Mark’, and this session allowed us to understand that the world’s best innovators and entrepreneurs harvest ideas; they observe a broader world than just their own.
At EO, we pride ourselves for having some of the most successful and promising entrepreneurs globally who are problem solvers and envision the future. They strive to positively impact people’s lives and leave a legacy. In that sense, Jeff’s presence and wise words were in line with EO’s mission which is to engage leading entrepreneurs to learn and grow. To use Jeff’s words, entrepreneurship is not about making money, it’s a shovel. It’s not a job, it’s a privilege.”
EO members left the event with exercises Jeff invited them to do with their business with the idea that they need to open their mind and try to look at the same things differently.
Jeff Hoffman said: “A successful business continuously asks things like a five year old child. You have to take time to wonder again, to stop and see everything as if it were the first time.”