Episode DescriptionIn this episode of Entrepreneur in Residence (EIR) Live, hosts Ilya Tabakh and Terrance Orr talk with MK (Musaddeq Khan), a serial entrepreneur and experienced EIR. MK shares insights into his journey from founding startups to coaching entrepreneurs in programs like the Georgia State Mainstreet Fund and the ATDC. He discusses how his experiences in multiple countries have shaped his resilience, why adaptability is essential in entrepreneurship, and the significance of a customer-focused approach in product development. The conversation explores MK's role at Nokia Ventures, his perspective on regulated industries, and the transformative mindset needed to thrive as an EIR.Key Points from This Episode:[00:00:00] MK (Musaddeq Khan) shares his early experiences growing up in Iraq, Kuwait, and the U.S., describing how constant relocation shaped his resilience.[00:01:12] Ilya introduces the purpose and goals of EIR Live, aiming to explore the entrepreneurial mindset and experience.[00:02:35] Terrance introduces MK, noting his extensive entrepreneurial journey and achievements.[00:03:45] MK discusses his international upbringing and the cultural adjustments that influenced his adaptability.[00:07:17] MK reflects on his transition to startups after early corporate experiences, highlighting lessons learned.[00:10:20] How founding his first startup during the Great Recession taught him the importance of seizing opportunities in challenging times.[00:13:43] MK explains strategies for entering and innovating in regulated industries, such as utilities.[00:16:50] Importance of a customer-centered, outcome-driven approach in product development and management.[00:19:10] MK describes the “carrot and stick” regulatory dynamic that influences product development in utilities.[00:22:56] MK talks about his transition to EIR roles and the impact of mentorship on his growth as an entrepreneur.[00:26:30] Reflections on how company culture can enable or hinder an EIR’s ability to innovate.[00:30:45] MK discusses his role at Georgia State’s Mainstreet Fund, supporting entrepreneurs from diverse backgrounds.[00:36:20] Insights into coaching growth-stage companies at ATDC and guiding product development.[00:40:09] MK explains the importance of patient, long-term investment in innovation and entrepreneurship.[00:47:10] Emphasis on the need for an EIR to align with a company’s strategy and contribute to meaningful, sustainable growth.[00:52:37] MK describes Nokia Ventures’ approach to commercializing Bell Labs’ legacy technology for new uses.[01:00:40] How mentoring and supporting emerging entrepreneurs gives Khan a deep sense of purpose.[01:06:25] Advice for founders on prioritizing coachability and a problem-solving mindset.[01:13:59] MK reflects on the importance of embracing ambiguity and unpredictability as an entrepreneur.[01:18:15] Final thoughts from Khan on resilience, adaptability, and the pursuit of meaningful challenges in entrepreneurship.Links:MK (Musaddeq Khan) on LinkedIn: https://www.linkedin.com/in/mkhanGeorgia State Mainstreet Fund: https://eni.gsu.edu/category/main-street-seed-fund/ Terrance Orr on LinkedIn: https://www.linkedin.com/in/terranceorr/ Ilya Tabakh on LinkedIn: https://www.linkedin.com/in/ilyatabakh/Learn more about the podcast at https://eir.live🎥 watch at https://youtu.be/x0Irnq11Xa0 (00:00) - Early experiences (01:12) - Show introduction (02:35) - MK’s background (03:45) - Cultural adaptability (07:17) - Corporate to startups (10:20) - Founding during recession (13:43) - Regulated industries (16:50) - Customer-focused development (19:10) - Regulatory dynamics (22:56) - EIR transition (26:30) - Culture’s impact (30:45) - Mainstreet Fund role (36:20) - Coaching at ATDC (40:09) - Long-term investment (47:10) - Strategic alignment (52:37) - Nokia Ventures (00:40) - Mentorship purpose (06:25) - Founders’ coachability (13:59) - Embracing ambiguity (18:15) - Final thoughts
