Entrepreneur combines qualities of inventors and athletes
Ruslan Kogan
Business entrepreneurs don’t normally identify with the attributes of inventors and athletes but then Monash graduate Ruslan Kogan isn’t your average entrepreneur.
Mr Kogan, listed by BRW magazine in 2011 as the wealthiest Australian under 30, told an audience of 200 that entrepreneurs must have the qualities of both these groups.
“Inventors must look at a market and discover what can be changed to create extra value. Athletes, on the other hand, have the ability to ‘work their arses off’ to make the change happen.”
In his presentation at Caulfield campus, Mr Kogan described the creation and emergence of his business Kogan.com, a manufacturer and distributor of consumer electronic goods. It is expected to achieve $200 million in revenue this year.
He explained some of the lessons he had learnt while expanding the business.
He has developed his own Kogan’s mantra: always create win-win relationships that benefit both parties and create lasting ventures. This approach was demonstrated by his refusal to buy from suppliers who claimed to be selling below cost, because of his belief that such claims were either false or stupid, providing an unstable basis for a sustainable working relationship.
A Monash University alumnus (BBusSys 2004), Mr Kogan credited the University with teaching him how to think, rather than telling him what to think. He also supported the belief that there are no bad teachers, only bad students.
Mr Kogan often works 100-hour weeks but says he loves what he does and believes his approach naturally leads to happiness and success.
Professor Michael Vitale, Office of the Deputy Vice-Chancellor (Research), invited Mr Kogan to speak at the University.
The audio of Mr Kogan’s talk is available online by entering your authcate username and password.