Sunday, February 24, 2013
Muhammad Yunus' TEDxTalk
Muhammad Yunus created a whole new financial sector when he decided to create a rural bank for women and the poor. Yunus brought design thinking to his endeavor by looking at the existing industry and aim his enterprise at the available demographics and sociographics. Big banks of Bangladesh aim their business toward wealthy urban men, so Yunus created a bank aimed at the opposite. When Yunus does give loans to the poor, he believes everyone is an entrepreneur. His loans gave beggars opportunities to become shoppers for households, able to give up begging for their own businesses. Yunus continually creates new businesses to solve problems he finds. However one of his keys to success is giving himself the ability to fail. He shrugs off failure and moves on. Failure is inevitable so by accepting it from the beginning of creating businesses, he will make decisions not based in hesitation and fear of failure.
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