From 600+ conversations with the world’s leading thinkers.
The skills that get them to one point won't carry them the rest of the way. We talk about the ticking time bomb. The ticking time bomb is these very characteristics — when you're trying to scale, and things are getting more complex, and you have to work through other people — they blow up.
Today, entrepreneurship is fashionable, it's something you can develop in your character and strengthen. I'm not so sure… I believe that entrepreneurship is something you're born with, or not. I've met many highly intelligent, and incredibly bright people who have not been able to develop their ideas into sensible businesses. Entrepreneurship is not related to intelligence, it's something you have or don't have.
A lot of entrepreneurs don't make that switch. They cling to that brand identity of 'I'm an innovator,' still tinkering with the product while everyone else is saying, 'Hey, it's good enough — let's hire our first salesperson.' So when you're not really thinking about the alignment between your role and your identity, that's when problems can start.
I don't believe there's a universal formula for success—I can only share what worked for me, which was driven by enthusiasm for new ideas. What I value most in people is enthusiasm—not passion, which I find overused—but genuine enthusiasm to see opportunities and act upon them.
For every example I could give you of regulations causing problems, I could give you two of regulations creating opportunities. I think this notion that regulation is causing problems is a real red herring.
I believe many of our new generation of entrepreneurs put too much significance on money, and not enough on ideas. If you have a great idea, and the skills to execute that idea, the money will come.
Fear depends on your context, and how much you think you have to lose. You may be young or broke and have nothing to lose. In that case? Either you figure out a way to get something, or you don't get it. Simple.
My fun statement is that if I see the same thing, three times in one week, from disparate news or information sources, I have to move quickly as it's a trend that's likely to happen.
One of the things I'm interested in encouraging people to think about is the whole area of risk. What really is risky?! In many ways I think it's actually much safer to take things into your own hands rather than trusting your destiny to an uncertain jobs market.
Entrepreneurship is the relentless drive to carry-on, no matter what. Entrepreneurship is tolerance, focus and dedication. Entrepreneurship is this 'true north' belief that whatever this 'thing' is that you want to bring to culture, that you will see it through… and that you are the one here to usher it into existence.
If you manage to attain product-market fit, you'll thrive, but if you fail, your venture will falter. It's that simple. Product-market fit boils down to creating value for your customers.
We are first generation entrepreneurs, with middle class values, coming from middle class backgrounds, we never expected to be so wealthy! Our first reaction therefore is to share.