Clyde Prestowitz is the founder and president of The Economic Strategy Institute. This is a global think tank that deals with issues of global trade, investment, and security. Previously he was Counselor to the U.S. Secretary of Commerce, Chairman of President Clinton’s Commission on Trade and Investment in Asia, a member Intel’s Advisory Board, and an advisor to many leading CEOs and governments. He is the author of seven best selling books and speaks six languages.
Entrepreneur Interview Q & A
1.What is the name of your business? What does your business do?
The Economic Strategy Institute. It does research and writing on global economic, technological, and security issues. It also organizes seminars with national leaders and advises global business organizations.
2. Why did you get into this field? What opportunities did you see?
I got into it by accident. A CEO friend once said to me: “Clyde, have you ever thought of using your vast knowledge and understanding of international business and economics to advise companies like mine?” I never had, but thought he might have a good idea. So I started.
3. What have been your biggest challenges?
The biggest challenge has always been to find outstanding people to work for and with me.
4. What has been your greatest reward?
The greatest reward has been to see some of our ideas actually adopted in global policies in ways that have changed or will change the global economic system. One example, is the halting of most currency manipulation. We campaigned long and hard against that and have largely achieved our goal.
5. If you could change something, what would it be?
I would start with a bigger financial backing than we had. I had no idea how expensive it is to run a non-profit organization. The needs are enormous and always growing, while the funds available are always relatively small.
6. What advice would you give to a new entrepreneur?
Never give up.
7. Social Media. Yay or Nay?
I’m afraid I see social media as the Great Satan. I also believe the whole concept is dishonest. The organizers of social media want you to give them enormous amounts of information free while they then go and sell it for fortunes to advertisers. Its a scam with which no honest person would engage him or herself.
8. How do you market your products or services?
Our reports and statements speak for themselves. Beyond that, it is word of mouth.
9. If your business sells products, how do you handle production?
We outsource production of books.
10. What is unique about your business?
Maybe not unique, but it requires the intersection of keen knowledge of international business, international economics, international politics, and assessment of the leaders in those fields. One must know a lot of key people and have key insights into what makes the global world operate without too many hiccups.
11. Sell me your product/service.
I don’t sell. I produce what I think is the best work in my field. I hope you will buy it, but I never directly sell or ask you to buy it. You must find it, look at it, and decide whether or not to buy.
12. How can people get in touch with you? What’s your website url and contact information?
Website: The Economic Strategy Institute