From 600+ conversations with the world’s leading thinkers.
As soon as such actions are taken, I think a lot of entrepreneurs will see Greece as being the right place to invest.
I saw something in the world that was done poorly and thought it could be done better. The difference between a miserable, crank grump and an entrepreneur? Both are unhappy- but the entrepreneur says they can make it better… that they can fix it… and they follow the spark.
What motivates great entrepreneurs is fear of failure; and here's the thing – most entrepreneurs fail several times before they achieve success, and the more you fail, the more fear you have.
Most of the time, startup ideas don't work. Most of the time, the world stays as it is. The status quo has an advantage; it has a built-in upper hand. For a startup to win, it has to be not merely better than what's there; it has to propose something radically different, something that never could have existed before.
We characterise our ideal 'Substacker' in affectionate terms – we call them outsider nerds – they're outsiders insofar as they don't fit comfortably in the dominant media structure for whatever reason – perhaps they feel they can do better work outside of it.
If there's one thing that thematically aligns all startups: a tolerance for innovation in how the companies are run. This means there's a little bit more risk taking and attacking problems in a way that hasn't been done before.
One of the ideas you hear often is that in America there is a culture where not only is it ok to fail, but it's almost expected – like a badge of honor. This is true to a point but that implies a cut-throat culture that is more legend than reality and is actually bad for innovation.
How many times have we all heard someone say, 'I had a really good business idea, but then I found somebody else had already done it—so I gave up'? I'd say the opposite: fantastic! If someone's done it, is still in business, and it's working, that's proof you're onto a solid idea.
If you are a VC or into angel investing, you can come here and literally just set up a stand in a coffee shop with a sign saying 'looking for start-ups' and you would have a string of people coming in all day long... you could literally sit in that coffee shop from now until next year and you wouldn't get close to touching the sides.
As an entrepreneur, you're often doing things that haven't been done before, or doing them in ways that break the mould. All sorts of people are telling you, 'No, that's not how it's done,' and you're constantly running into obstacles. Without a lot of self-confidence, you can't even get started.
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.
In business, you get incredible highs and lows… and it can take a decade of work before you start to see the story, and so having peer networks around you helps you realise other people have been through this.