Question

Stanford's Entrepreneurship Corner Tom Kelley, IDEO Do What You Love

3. Answer the following questions:

A. Explain Jim Collins' personal formula which was presented on the video.

B. Identify, define and explain the meaning of each of the circles and the square presented on this video.

C. How would you apply Jim Collins' personal formula to you?

Answer 1

A. The Jim Collins' personal formula is that DO WHAT YOU LOVE not because you love it but because you will be better at it. The idea is that if you are interested in something then you will be putting effort to work on it.

B. There are three circles that Jim Collins' formula is explained with. The first circle is 'what you good at' i.e. what do you find most unique and useful in yourself. But this is not enough. What if you are good at something you don't wish to pursue.

The second circle is 'born to do' i.e. what interests you most. Among the things, you are good at what is most close to your heart.

The third circle is 'pay you to do' i.e. Among those things which you are good at and are close to your heart, what are the things for which people will pay you to do. The feasibility of doing them with a perspective of livelihood.

All these three circles are under a square which is 'who' i.e. who you would be working under. For the thing that you love should be under a person you love as well.

C. The application would be simple. I will see each circle in order of their explanation and try to find out what am I good at, what am I born to do, will it be payable, and who will be my prospective payer.