Seriously…success is this simple?

Reid Hoffman is Co-Founder and Chairman at LinkedIn and a partner at Greylock Partners. He is a member of the founding team at PayPal and has been an angel investor and adviser to dozens of organizations including Facebook, Zynga, Flickr and Last.FM. He currently serves on the boards of LinkedIn, Zynga, Shopkick, Kiva.org and Mozilla. His complete profile can be found at www.linkedin.com/in/reidhoffman

Even if you don’t have aspirations to create the next big idea…this advice from Reid Hoffman, cofounder of LinkedIn will make today a MOTIVATION Monday! Here are his ten rules for building a being a successful entrepreneur – click on the link for the entire article -it’s worth the eight minutes: we promise!

Read, absorb, move on;)

Rule #1: Look for disruptive change. If you’re about to start on a new venture, ask yourself: What is becoming possible or necessary that wasn’t possible before?

Rule #2: Aim big. Regardless of whether a start-up is targeting a big idea or a small one, it will still require the same amount of blood, sweat and tears—so aim big!

Rule #3: Build a network to magnify your company. The most successful entrepreneurs bring in advisors, investors, collaborators and early customer relationships.

Rule #4: Plan for good luck and bad luck. (We LOVE this one) Good luck is when you discover a great opportunity and can quickly shift to go after it. Bad luck is what happens when your first idea doesn’t work. It doesn’t mean failure; it means you need to pursue plan B.

Rule #5: Maintain flexible persistence. The challenge is to know which advice is most appropriate for which situation.

Rule #6: Launch early enough that you are embarrassed by your first product release. From that I learned, if you are not embarrassed by your first release, you’ve launched too late!

Rule #7: Aspire, but don’t drink your own Kool-Aid. Maintain your aspiration but always look for good perspective on how you are doing. It is very easy for creative innovators to get caught up in their own story rather than learning where they should be headed.

Rule #8: Having a great product is important but having great product distribution is more important. What a lot of people fail to realize is that without great distribution, the product dies.

Rule #9: Pay close attention to culture and hires from the very beginning. Your first hires set your culture, so make them good ones. What you really need are people who can learn fast.

Rule #10: Rules of entrepreneurship are guidelines, not laws of nature. Entrepreneurs sometimes just make new rules.

Read the whole article here:  Ten Entrepreneurship Rules for Building Massive Companies « Greylock VC.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: