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Larry Ellison: You won't be successful doing the same thing everyone else is doing “My standard advice to entrepreneurs is you can’t be successful as a small company doing the same thing everyone else is doing… If you’re an entrepreneur, you have to find errors in conventional wisdom.” When...

131,177 Aufrufe • vor 4 Monaten •via X (Twitter)

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a16z co-founder Ben Horowitz: “Don’t follow your passion” Ben gives this advice to the Columbia University class of 2015: “Don’t follow your passion. Now I know you’re probably thinking: ‘That’s a really dumb idea because if you poll 1,000 people who are successful, they’ll all say they love what they do. And so the broad conclusion of the world is that if you do what you love, then you’ll be successful.’ But we’re engineers, so we know that might be true. It also might be the case that if you’re successful, you love what you do — you just love being successful, everybody loves you, it’s awesome. So which one is it?” He continues: “The first tricky thing about passions is they’re hard to prioritize. Are you more passionate about math or engineering? Are you more passionate about history or literature? Are you more passionate about video games or K-pop? These are tough decisions. How do you even know? On the other hand, what are you good at? Are you better at math or writing? That’s a much easier thing to figure out. The second thing that’s tricky if you’re going forward in time with this ‘follow your passion’ idea is that what you’re passionate about at 21 is not necessarily what you’re going to be passionate about at 40. Now this is true for boyfriends, as well as career choices. The third issue with following your passion is that you’re not necessarily good at your passion. Has anybody ever watched American Idol? So you know what I’m talking about. Just because you love singing doesn’t mean you should be a professional singer. And then finally, and most importantly, following your passion is a very ‘me-centered’ view of the world. And when you go through life, what you’ll find is that what you take out of the world — money, cars, stuff, accolades — is much less important than what you put into the world. And so my recommendation would be to follow your contribution. Find the thing that you’re great at, put that into the world, contribute to others, help the world be better. That is the thing to follow.” Video source: a16z (2015)

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Snowflake CEO Frank Slootman explains why your company priorities are wrong “I found out early on that if you can whittle things down to just one thing, you become unstoppable. Unfortunately, people resist whittling things down to one thing because it’s really hard to decide what that one thing is.” The former Snowflake and ServiceNow CEO continues: “People have a very easy time telling you what their top 3-5 things are because hopefully the right things are in there somewhere… I can’t tell you how many board meetings I’ve been in where the CEO puts a PowerPoint up and it’s one bullet after another listing all of the things that are their priorities. You just know that they’re going to be a mile wide and an inch deep, swimming in glue, moving like molasses. The energy is leaving my body already just watching a long list of priorities… You’ve basically devalued what you should be doing because you’re time-sharing now with all of these other things.” Mr. Slootman urges founders to think really hard about the one thing that matters most to your business and focusing entirely on that. If you can’t decide, just pick one: “I like to do things in sequence. Even if you’re not sure, do it anyways. Because in the process of doing, you’re going to find out whether you’re right, wrong, or somewhere in between, and you can adjust.” When you prioritize just one thing, things move much faster: “Things are going to go much quicker because have a narrower plan of attack. It’s energizing. The pace picks up.” Video source: This Week in Startups @jason (2022)

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Peter Thiel on how to build the next billion-dollar startup: "Every moment in the history of business happens only once. The next Mark Zuckerberg won't be starting a social networking site. The next Bill Gates won't start an operating system. The next Elon Musk won't start a Tesla electric car company." Peter's entire thesis rejects the idea of formulas in business. As he puts it: "Science starts with things that are experimentally repeatable, but great businesses are zero to one; they're always one-of-a-kind. There is always this anti-formulaic quality." So what's the one theme he keeps coming back to? "This need for differentiation. What are you doing that nobody else is doing? What ideas do you have that nobody else has? What great business are you working on that no one else is working on?" He continues: "If you're a founder or an entrepreneur, you should always aim to build a monopoly where you're the only person in the world doing what you're doing. There really are only two kinds of businesses in this world: businesses that are in crazy competition and one-of-a-kind businesses that are monopolies." On why you shouldn't just iterate your way to success: "The core thing is to have a great product, and then you can always improve and iterate on that. If you're just trying to optimize and you don't have a great product, that rarely works." His advice? Think 5 to 10 years ahead: "Why will this be a really valuable business in 5 to 10 years? How's the competitive landscape going to develop? These are hard questions to answer, but the great entrepreneurs I know always have some perspective on it. When I was playing chess, one of the early lessons I learned was, a bad plan is still always better than no plan at all." On what makes work meaningful: "It's great to be working on problems where if you weren't working on them, nobody else would do them. If we weren't doing this, this problem would absolutely not be tackled. That's what's meaningful. Whereas when you're competing, you're already, by definition, number two at least in a category." Build something only you can build.

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77,758 Aufrufe • vor 6 Monaten