The False Side of Entrepreneurship | Nevien Magdy | TEDxEUI

Nevien Magdy's Education and Early Career

• Nevien Magdy is a graduate of the British University in Egypt, where she earned a degree in Computer Science.
• She was part of the second graduating class, which she describes as a unique experience.
• Her first job was at the 57357 Hospital in Cairo, Egypt, where she worked for six months as part of a training program.
• Magdy's experience at the hospital was unique, as she was a software engineer working in a medical setting.
• The hospital was ahead of its time in terms of digital transformation, particularly in its research center.
• The research center at the hospital was focused on automation and used software to track cancer records.
• Magdy was fortunate to be involved in this project.

Magdy's Early Entrepreneurial Journey

• Around 2016, Magdy was inspired to pursue entrepreneurship after encountering a colleague who had a vision for creating digital products.
• The speaker and the colleague collaborated on a project with a large company, aiming to develop a digital product that would address a market need.
• The speaker and their team initially faced challenges securing a project due to the lack of a legal entity.
• They established a company to address this requirement and successfully completed the project.
• The project gained significant popularity, leading to collaborations with top names in the field.
• The speaker and their team were selected for a program in America that provided training and mentorship from leading companies.
• The speaker participated in the program, gaining experience in digital transformation at companies like Twitter, LinkedIn, Instagram, and Facebook.
• Through LinkedIn Learning, the speaker contributed to the development of the QR code feature.
• The speaker's involvement in the program led to an opportunity to work with the LinkedIn Learning team.
• The speaker is the first Egyptian and Arab to have courses on LinkedIn Learn.

Magdy's Companies and Entrepreneurial Philosophy

• Magdy has a software company called Origin Technology Solutions.
• Her company's motto is "We are making a difference."
• Magdy's first company, which she worked on many projects with, is now closed.
• Magdy believes that the initial excitement and success of a venture can be misleading.
• She compares the initial excitement of a new relationship to the initial excitement of a new business venture.
• Magdy's first company faced challenges due to their young age and lack of experience.
• Magdy's first company was successful despite their lack of experience.
• Magdy discusses the reality of entrepreneurship, highlighting the challenges faced by many startups, including limited resources and lack of experience.
• Magdy shares her personal experience with the failure of her company, "Origin," which she founded in 2018.
• Magdy emphasizes the importance of embracing failure as a learning opportunity, stating that individuals learn more from failures than successes.
• Magdy suggests that failure can be a catalyst for growth and resilience, ultimately leading to greater success.
• Magdy experienced a significant failure in her entrepreneurial journey, which led to introspection and a desire for improvement.
• Magdy was not initially drawn to entrepreneurship, as she did not envision herself as an entrepreneur.
• Magdy's company, Origin Software House, was founded in 2018 and specializes in custom digital solutions for various industries.
• Magdy discovered a significant need for software solutions in a specific area, which she was fortunate to have studied in the United States.
• Magdy, Nevien Magdy, started a company called UX with two friends, specializing in user experience for digital products.
• They later established a third company, focusing on digital customer experience.
• Magdy acknowledges that some might question the value of creating multiple companies instead of focusing on one.
• She emphasizes that these ventures, despite not being financially successful, provided valuable lessons and experiences.
• These experiences helped her build a network, connections, and knowledge that she believes will be beneficial in the future.
• Magdy mentions that the three companies primarily focused on personal branding.

The Importance of Networking and Building a Reputation

• Magdy emphasizes the importance of networking and building relationships in achieving success.
• Magdy's father instilled the value of networking, believing that it is crucial for individuals to have a presence, connections, and genuine friendships.
• Magdy argues that even with exceptional skills and a great product, success requires visibility and relationships.
• Magdy uses the example of a flower shop to illustrate this point, stating that to stand out among numerous competitors, a unique selling proposition is essential.
• Magdy emphasizes the importance of being skilled and distinctive in one's field, highlighting that this requires observation, learning, and engagement with the world.
• Magdy acknowledges that mistakes are inevitable but emphasizes the importance of learning from them.
• Magdy credits her father's advice for her approach to success, which involves actively participating in her environment and gaining knowledge from her surroundings.
• Magdy emphasizes the importance of being indispensable in one's work. She argues that if someone can take a vacation without impacting their work, it indicates a lack of importance.
• Magdy highlights the value of building a strong reputation and network. She mentions that she has a good reputation in her field, which has led to opportunities and referrals.
• Magdy emphasizes the importance of building relationships and networking, even from a young age. She suggests that this can lead to opportunities and a strong network of contacts.
• Magdy mentions that she has never had to go through a formal interview process due to her strong network and reputation. She has always received referrals from people who know and appreciate her work.
• Magdy suggests that building a strong brand and network is a process that starts early in life, even during childhood interactions and play.
• It is important to build a reputation that is specific and focused.
• A software company should not hire someone who claims to be proficient in all programming languages.
• Instead, the company should hire someone who specializes in a particular area, such as front-end development, back-end development, or security.
• A personal brand should be built on specialization and a good reputation.

The Reality of Entrepreneurship

• An entrepreneur is not just someone who starts a business.
• An entrepreneur can also be a student who has a new idea and wants to present it to their class.
• Magdy is discussing the false promises of entrepreneurship.
• Magdy believes that many people are motivated by the idea of becoming rich and famous through entrepreneurship.
• Magdy argues that this is a false promise and that entrepreneurship is not about becoming rich or famous.
• Magdy believes that entrepreneurship is about creating something new and innovative.
• Magdy believes that entrepreneurship is about having a vision and being able to execute it.
• Magdy believes that entrepreneurship is about being able to work hard and be persistent.
• Magdy believes that entrepreneurship is about being able to take risks and be willing to fail.
• Magdy believes that entrepreneurship is about being able to learn from your mistakes and grow.
• Magdy believes that entrepreneurship is about being able to build a team and work together.
• Magdy believes that entrepreneurship is about making a difference in the world.
• Magdy believes that entrepreneurship is about being able to create something that is valuable to others.
• Magdy believes that entrepreneurship is about being able to make a positive impact on the world.
• Magdy believes that entrepreneurship is about being able to live a life of purpose and meaning.
• Magdy emphasizes that she is not on stage because she owns a company. She believes she would have been a valuable employee if she had remained one.
• Magdy suggests that a successful employee would be highly valued and recognized for their contributions.
• Magdy asserts that entrepreneurship requires significant effort and dedication to achieve success.
• Magdy states that entrepreneurs rarely earn money easily and often reinvest their earnings into further ventures.

Gender and Entrepreneurship

• Magdy expresses her opinion that the differences between men and women in entrepreneurship are not significant.
• Magdy emphasizes that oppression and freedom are created by individuals.
• She asserts that people choose to be oppressed or free, and that her own experiences have not been defined by gender.
• Magdy highlights the importance of building a reputation and earning a place in the world.
• She acknowledges that both men and women can be helpful or unhelpful, and that success requires hard work and learning from others.

Advice for Aspiring Entrepreneurs

• Magdy stresses the need for experience and knowledge before starting a business.
• She recommends working for established companies to gain experience and understand the market.
• Magdy emphasizes the importance of quality in all aspects of life.
• Many people believe that freelancing is a quick way to make money, regardless of quality or reputation.
• Magdy emphasizes the importance of ambition and being a beginner.
• She believes that simply starting is enough.