Top 50 Entrepreneurs Share Priceless Advice To Success

The best advice from the Top 50 Entrepreneurs Share the insider

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0:00 do something your fairy passionate about
0:03 and don’t traded chase
0:07 what is kinda the hot passion of the day
0:11 people say you have to have a lot of passion for what you’re doing
0:15 and its totally true and the reason is a
0:18 is because it’s so hard that if you don’t
0:21 any rational person would give up it’s really hard
0:25 and you have to do it over a sustained period of time so if you don’t love it
0:29 if you’re having fun doing it you don’t really love it a
0:32 you’re gonna give up so just going to do it try
0:35 learned from it you know you’ll fail at some things that’s a learning experience
0:39 you need to that you can
0:41 taken on to the next experience and don’t let people
0:45 who you may respect and who you believe know what they’re talking about don’t
0:51 let them tell you can’t be done
0:53 because often they will tell you can be done
0:56 and it’s just cuz you don’t have the courage to try
1:00 thing people that look for greed i years
1:03 to make money I no are
1:06 merely as successful as those who say
1:10 okay what I really love to do what am I excited about what I knew something
1:14 about
1:15 you know was kinda interesting and compelling its
1:18 are very rewarding when you work on something you think is gonna make big
1:21 difference
1:22 and our yeah it’s a little bit harder
1:26 but I think a I think that passion that one might bring with it
1:29 are brings so much more energy to that %uh
1:33 you’re more likely to succeed you have to have an emotional investment
1:38 in what you doing if you don’t love what you doing
1:41 a failures pretty much guaranteed success is not
1:46 guaranteed by any means but failures much more likely if you don’t love what
1:51 you doing
1:51 if you know exactly what you wanna be you need to spend as much time
1:55 with people that are actually that already you know what are the things
1:59 that ideas
2:00 I question a lot of things and you can do that in a good way in a bad way but
2:04 hopefully
2:05 if you try to get people to
2:07 motivate why they’re doing something and the way of thinking
2:11 know the worst thing you can end up with it’s a situation where
2:15 on you get all well this is the way it’s always been.
2:19 that’s the worst ever that’s a non-answer instead ask yourself
2:23 you know given everything we have today
2:27 is there a way we can make this better its in so when we’re coming up with
2:31 ideas
2:32 he know we always ask ourselves a
2:35 what kind of new market is is creating
2:39 in then also what what part of my day in in what problem is that solving
2:44 in so I’ve gone as far as taking an entire catalog
2:47 my day from the moment I like open my eyes
2:50 in writing down every single thing ideal and then asking myself like
2:54 is there something here if you’re not coming up with 10 ideas a day
2:58 that’s why I have this thing I’m not coming up not gone up this page
3:02 every single day in my idea muscle well atrophy
3:05 and I started this in 2001 and I still do it every single day like you have to
3:09 come up with ideas every single day
3:11 or the idea muscle atrophy is the good news is after about six months doing
3:15 that
3:16 you like a machine like you’ll get surprised at how many
3:19 ideas you could just have anywhere but others
3:23 there naturally nobody’s features
3:26 the world care us you have
3:29 persuader and you have to show you
3:32 one hers there that do when it comes to changing the world what I learned from
3:37 Steve Jobs’s
3:38 if you believe in a macintosh if you believe in iphone/ipod/ipad
3:42 if you believe enough then you will see it
3:46 because other people will believe in it other people create software
3:49 other people create products so you need to foster the belief
3:53 in what you are dreaming so that it becomes a reality
3:57 which is very different than saying I don’t expect anybody to believe it until
4:01 I see it you need people to believe it before
4:04 they can see it don’t necessarily think that you have to
4:08 have the home run in the huge apple computer on your first part
4:12 I spent a long time in my life with skills just building little devices for
4:15 fun
4:16 for fun is one of the key things is that drives you thinkin thinkin thinkin make
4:19 it better and better and better
4:21 than you ever will if you’re doing it for a company build things it first for
4:24 yourself the
4:25 you would want for somebody aspiring to
4:28 you take things to the next level or two even surpassed the wildest dreams
4:33 is always have to be an element of luck but I think more important is
4:38 putting yourself in a business
4:41 that can be ubiquitous that that Kim
4:44 that really doesn’t have limits because otherwise
4:48 there’s always gonna be a crime to it but if the business
4:52 at if if you can’t be something that you can visualize every business using
4:55 or every consumer using it’s gonna be tough to scale to be big enough for two
5:01 have the perceived value
5:02 you one idea about you can say I know it sounds like a bad idea
5:05 but here specifically why it’s actually a great one you wanna some crazy
5:10 but you can actually be right because when you’re trying to differentiate
5:13 when you’re trying to do something different there’s going to be that got
5:16 moment that got sent
5:18 is this right is this not right if you’re not
5:22 if you’re not having doubts you’re not pushing the boundaries far enough
5:26 don’t think about how I get really
5:29 how I get big fast that will happen
5:33 if you actually build something super meaningful
5:35 and super important I don’t think about you know
5:39 what is the quickest way to success think about what is the best way to
5:43 building something important at the world really needs
5:46 this little idea explains why some organizations and some leaders
5:50 are able to inspire where others aren’t let me define
5:53 the terms really quickly every single person every single organization on the
5:57 planet
5:58 knows what they do 100 percent some
6:02 know how they do it would you call it your difference in value proposition
6:05 know your proprietary processor USP
6:08 but very very few people organizations
6:11 know why they do what they do and by wire don’t mean to make a profit
6:15 that’s a result its always a result by why I mean what’s your purpose
6:19 with your cause what you believe why does your organization
6:23 exist only see it came with a lemonade stand it
6:27 different then we see a vending machine selling lemonade even if it’s exactly
6:31 the same product
6:32 because the story around it is what people are paying for so when I meet
6:36 small businesspeople all I ask them is not what their balance sheet but what
6:40 their story
6:41 why should I pick you why do I care about what you’re doing
6:44 and you start giving me I was inside baseball statistics about why you’re 2
6:48 percent better than some other
6:49 competitor amor de glazed-over could set up on the way I see the water
6:53 I have to want this to exist in the world after not
6:56 so it’s a similar rule just say if this
7:00 was successful and I had not been and I got no
7:03 and I was not involved I got no money officer was in
7:07 what I want it to do well not the great Jack
7:10 I think to know if you really feel good about the idea and to be passionate
7:13 about
7:14 10 things advise on turner’s to do is when you have an idea
7:18 so the a class above ground pools is to hold the idea close to not tell because
7:22 all the idea so special
7:23 Brad that’s almost always mystic go talk to was that a mistake
7:26 yeah it’s a mistake because your actual real competitive advantage
7:30 is not that you have this idea that you have locked away in your closet
7:33 which may or may not be accurate you have no idea which it is
7:37 hi your your actual committed advantages if you’re assembling the intelligence
7:40 around does this idea work
7:42 what is the right team was the right learn
7:43 things and we’re essentially emotional the hardest thing to do is start
7:47 I am you have all these ideas and everyone has an idea
7:50 it’s really about executing an idea and building the idea and attracting
7:54 other people to help you work on the idea that is the biggest challenge but
7:58 the
7:59 the way to begin is to get the idea in your head draw it out
8:03 you know talk about it program in
8:06 if you’re a programmer or make it if you’re building something but you don’t
8:09 have to be the best
8:11 but you have to be dangerous right you have to learn just enough to be
8:15 dangerous to build an idea
8:17 concept it and show it to the world and then it turns out there are lots of
8:20 other people including all 170 employees that work against RAM are much better at
8:24 doing all that stuff than I am
8:26 but you’d need to find people who can you know
8:29 be drawn to the idea that you build and and then they end up taking it and I’m
8:34 and make an even better you know one way to conceptualize what makes a good
8:37 product is
8:38 you know good engineering is part of it good design is part of it but really
8:41 it’s
8:42 on well I think about is at least
8:45 is a maximizing the probability that someone shows up at the front door
8:49 you know your story website ur or whatever it is and and ends up with us
8:53 all problem and oftentimes the best methodology is to start with the perfect
8:57 expensive just one person
8:59 get that right and then perhaps kill something great and that scares me. not
9:03 so great and then try and improve it that’s really hard to do
9:05 and so I think when you are starting a new business you up
9:09 you don’t wanna go out to join markets 1 go after small markets
9:12 and you want to take over those markets quickly constantly seek criticism
9:17 a
9:21 a well well for
9:25 out critique whatever you’re doing is as Bible School
9:29 I’m and you should seek that
9:32 from everyone you can be particularly your friends
9:36 if you’re not utilizing an online community dinner at a disadvantage to do
9:40 to our
9:41 you can be asking online communities what they think about radius
9:45 or for heavy advice with what you’re working on not only will you hear from
9:49 people who are passionate about the subject
9:51 but you’ll be hearing from people all around the world each with their own
9:54 experiences and
9:55 or if I can help you and they’re a lot of people from home we can learn a lot
9:58 and I think like
10:00 you note the one piece of advice but don’t underestimate anyone you come
10:03 across
10:04 at right like whether they’re you know a yeah
10:07 a blue collar worker waiting for the bus other you know helping you at your their
10:10 the server bartender at the restaurant or they’re a lower-ranking employees
10:14 have been the smartest leaders I’ve ever seen
10:17 have always gone around the room and after everybody’s opinion most startups
10:20 that fail do it
10:21 ultimately because they did not make something that people wanted
10:25 they need something that him you know that they thought people would want but
10:30 they were
10:31 either in denial about it about you know
10:34 weather was actually any good or somebody else came along
10:38 and made something that people want it even more the best piece of advice
10:42 that we’ve figured out is with him was quite is not good
10:46 not to let other people distract you there’s always a hater
10:49 say your idea stupid this idea is never going to work
10:52 don’t even bother doing active someone else is going to do before you
10:55 and if we listen to all the all that be back
10:58 negative you never built never prototype not I’ll
11:02 really got to me of course of those who want a bill as well doctor
11:06 turns out he built up that you like you I’m
11:09 the Chanticleers thousands of people want to use it and so
11:13 it’s not just about doing focus groups it’s not just about your double checking
11:16 your vision really is about
11:17 integrating is concept up testing our ideas rigorously
11:21 through out the product development process out the marketing process even
11:24 as we scale
11:25 below you really need to do. is think about what is this
11:29 smallest possible task but I can rock
11:32 for this idea for this concept for this theory get it out there
11:37 and get customers using because your customers are going to be the ones to
11:41 tell you
11:42 if it’s really working or not late like this %uh missus expectations
11:47 the you have to have in your mind this disorder I’m gonna change the world
11:51 sorta
11:51 make a dent in the universe kinda kinda ambitious right but it’s actually okay
11:57 early on to just kinda ed solve small problems in layers until you actually
12:02 get to apply we have capacities
12:04 what this all comes down to is doing something exceptional for users
12:08 whether it’s in community whether it’s in connection or whether it’s in design
12:12 this he’s our big advantage
12:15 as a star is that we can actually get away with doing this we can make this
12:19 the core part of why we’re doing business
12:22 I think you should be spending your money on on teaching
12:26 in and sharing into that might mean hiring a writer
12:29 to perhaps said marketing you know and start writing answer getting people to
12:33 listen to what you’re saying you can’t talk about yourself all the time
12:36 zones in a comeback ap talk about things relevant your industry
12:39 right you have answer to build an audience
12:43 I do think that one thing that’s important is especially if you’re
12:46 a founder a technical founder is to realize that you can’t do everything
12:50 and even if you can you shouldn’t you should find a great partner
12:54 no matter what it is that you’re doing and you should look for someone who is
12:58 very high intelligence
12:59 very high energy in very high integrity you need all three of those we can
13:03 compromise in any one of them
13:04 otherwise you end up with a either so not smart which it does you no good
13:08 are signs that hard working with also doesn’t have it or the worst cases you
13:11 know
13:11 smart hard-working crook when that working against the interests and
13:15 integrity something it takes a lot of time spent with someone to figure out
13:19 the most important thing when you’re working for lease you guys lined up on
13:23 what your goals are thats that’s really that sounds really basic
13:27 you can totally to be fine
13:31 wanna does office Obama makes money
13:34 and you have to go to an office every day
13:37 are you gonna build a huge company
13:41 wanna build but I think it here illegally allied
13:44 when a lotta corporations have them I called on core values are guiding
13:48 principles are so on but the problem is usually
13:50 they’re very lofty sounding the kinda read like a press release the marketing
13:54 department put out
13:55 at the San just like their competitors and maybe learn about an on day one
13:59 other job but then
14:00 becomes this meaningless plaque on the lobby wall
14:03 what we wanted to come up with commendable core values by committal
14:07 meaning are willing to hire or fire people based on those values
14:11 I completely independent the actual job performance
14:15 the definition of values is there the behaviors are principles that you
14:20 religiously adhere to within your company NYC religious
14:23 I mean that no amount of data will sway you in
14:26 for from I’m from those principles and
14:30 the degree to which that you have the courage to om
14:34 maintain your conviction around those ideas is the degree to which you’re
14:37 going to be successful over the long term
14:40 company is simply a group of people and and
14:43 as a leader at people you have to be a great listener
14:47 and you have to be a great motivator you have to
14:51 I be very good praising and looking for the best in people
14:55 the people are no different from from flies if you
14:59 water flowers they flourish view praise people late flourish and
15:04 and that’s the critical attributed
15:07 up and the leader am so
15:10 I kinda like how jokingly with the with a lot of people so that you know
15:14 my job is basically like to be to be the assistant for the rest of the company
15:19 like
15:19 my job is to make sure that like you have what you need
15:22 and that its and and busy you have everything you need to kick ass like
15:27 that’s my job if you don’t have that and let me know cuz I’m not doing my job
15:30 you know there are a lot of things are outside your control a lot of external
15:34 circumstances will the pet like determine the
15:37 successive your idea whether you know the market timing is right for this new
15:40 kind of service
15:41 I or whether people you know whether customer
15:45 but the economy’s right for for for your kind of service right
15:48 their own we’ll be there by people who will finance our company
15:52 all many many external circumstances are like
15:55 outside your control unlike but war fact a comment you have to like be okay with
15:59 that another
16:01 quality
16:02 important is be home flexible
16:05 mine open-minded I’m not saying you shouldn’t have
16:09 your vision for around here but
16:13 usually open to changes so many things go wrong
16:17 when you’re starting a company in often I think people ask you know what
16:20 mistakes
16:21 should you avoid making and you know my answer the question is do even bother
16:25 trying to avoid mistakes because you can make tons of mistakes
16:28 right and the beyond the important things actually learning quickly
16:32 from whatever mistakes you make and not giving up right and
16:35 I mean the other things every single year Facebook’s existence that could
16:39 have killed us are made it so that
16:41 it just seems like moving forward to making a lot of progress just seemed
16:43 intractable
16:44 but you just gonna bounce back and you learn in I’m nothing is impossible you
16:49 just have to kinda
16:50 keep running through the walls the two things we really zero in on people
16:54 arm you know two things they sound simple way cannot be very difficult I’m
16:57 courage ingenious
16:58 arm courage is the one we talk about a lot because it’s the one that people can
17:02 learn
17:03 arm know you know courage courage which is to say not giving up in the face
17:06 River City
17:07 object just being absolute determined to succeed
17:10 you know is something that you can you can like force yourself to do it to be
17:13 very painful you can force yourself to do it
17:14 the genius part as a little bit hard to force yourself to do I am
17:18 you know courage without genius might not get you ready to go but she is with
17:21 her courage almost certainly won’t
17:22 and I think the reality AR is just you know
17:25 not quite so glamorous they’re sorta but there’s not we side to out being an
17:29 entrepreneur
17:29 I also just more importantly at what we’re actually spend your time on is
17:33 just a lot of hard work routes and mention that speaker basically just
17:36 sitting at your desk heads down focused oMG answering custer’s
17:40 customer support emails doing sales figuring out hard engineering problems
17:44 onto through important that you kind of like going with with eyes wide open
17:48 optimism has a place I think
17:51 even more so for the
17:53 first how much better you need to me pragmatically
17:56 pessimistic what I mean by that is you need to define all the worse case
18:00 scenarios
18:01 in terms of financial loss time loss Center
18:04 look at what you will learn: if that happens
18:08 and accept will come to terms with that before you ever stop
18:12 if you don’t do that and you go
18:15 straight into battling the world trying to conquer the world with rose-colored
18:19 glasses on
18:20 the first time you hit major pick up you can become really demoralized New York
18:24 with if you don’t love it you won’t make it through
18:28 the long period of pain that is inevitable Sao
18:32 are make sure that you take care of herself during the process make sure you
18:35 take care of
18:35 are your mental health your physical health wire doing a piece on long road



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