SanDisk co-founder Eli Harari and Carmine
Harari didn’t invent flash memory. The credit goes to Dr. Fujio Masuoka at Toshiba in 1980. Soon after, however, Harari invented a technology (floating gate EEPROM) that enabled data storage in flash memory. The breakthrough fostered the use of flash memory in digital cameras, smartphones, tablets, and other consumer electronic devices. Today flash memory is a $26 billion market and the IEEE, the world’s largest technical professional association, is recognizing Harari’s achievement with a rare and prestigious “Milestone” award, given to those technological achievements that change the world and benefit humanity.
I knew Harari for several years prior to his retirement as SanDisk’s CEO in 2010. As a communications coach, I work closely with top executives to help them tell their brand stories. I enjoyed working with Harari because he had more passion than just about anyone I had ever met in business. His attitude taught me that leaders cannot inspire others unless they are inspired themselves. Remarkably, Harari himself might not have found his passion and changed the world if it hadn’t been for a keen observation from his wife, Britt.
Dabbling in fishing rods. After getting a Ph.D. in solid-state sciences from Princeton, Harari dabbled in inventions, many of which had nothing to do with his passion or skill. He spent much of his time working on a fishing rod that could cast long distances. His wife approached him and asked,
“How many fishermen are there in the U.S?”
“About 26 million,” Harari answered.
“When was the last time you went fishing?” his wife asked.
“Never.”
“Do you even have a fishing rod?”
“No,” said Harari.
“In physics, how many people know what you know?” his wife persisted.
“About three to five,” Harari answered.
Harari got the message. He had to follow his passion and use the skills that set him apart. From then on he played to his strengths. He eventually earned more than 100 patents and created the technology that enabled thousands of applications and consumer devices. Today SanDisk ships two millions units of its products a day and generates $5.6 billion in yearly income.
Three forces that make up your competitive advantage. In The Start-up of You, LinkedIn co-founder Reid Hoffman writes, “The person passionate about what he or she is doing will outwork and outlast the guy motivated solely by making money.” But Hoffman is quick to point out that passion alone is not enough. Hoffman says your competitive advantage is formed by three forces: your assets (skills, experiences), aspirations (passion), and market realities (will people pay for what you have to offer)? “The best direction has you pursuing worthy aspirations, using your assets, while navigating the market realities.
So there you have it. The secret to success is matching your passion with your unique skills to reach a market of customers who need what you sell.
Harari had each of the three success factors that Hoffman outlined in his book. He had a passion for physics, engineering, and solving big problems. He had skills (assets) shared by just five other people in the world, and he entered a market (the nascent digital camera market) that needed his product.
Harari once said that ideas are a dime a dozen. Taking an idea, implementing it to serve a market need, and actually changing the world is what a great entrepreneur strives to accomplish.