You can choose to be NOT ORDINARY
“I think people can choose to be not ordinary.”
Never Give Up
“I don’t ever give up. I would have to be dead or fully incapacitated.”
What will you get from giving up. If you get something better than its okay to give up, otherwise why? If you have got the capacity to go for it then go for it.
Work like hell
“Work like hell. I mean you just have to put in, you know 80 to 100 hour weeks every week.”
Working on something more than others, improve the odds of your success. If other people are putting in 40 hour work weeks and you are putting in 100 hour work weeks, then even if you are doing the same thing, in 4 monthes you will achieve what they will take a year to achieve.
Work hard like every waking hour.
You will have to work hard, particularly if you are starting a company. There is no way around that. Or there may be, who knows.
Have a hign pain threshold
Trying to build a company and have it succeed is like eating glass and staring into the abyss. Its sort of quite exciting for the first several months of starting a company and then reality sets in, things don’t go as well as planned, customers aren’t signing up, technology of the product isn’t working as well as you thought and then, that can sometimes be compounded by a recession, and then it can be very very painful for several years. So while starting a company people should have a hign pain tolerance.
Think in terms of First Principles
People don’t think critically enougn. Critical thinking is a skill in short supply. People assume too many things to be true without a sufficient basis in that belief. So its very important that people closely analyze what is supposed to be true and try to say, lets analyze things from first principles not by analogy or not by convention. If you assume things are true by convention, which is actually what most people do, then its difficult to gain insight into what and how things could be bettered. So in any argument you want to make sure that the underlying premises are valid and applicable and then in reaching a conclusion that the conclusion reaching is necessarily driven by the underlying premises and the interconnection between those premises. This might seem like the most simple thing to say but most people don’t do that. But its really the foundation of rational thought.
Don’t just follow the trend. Rather than reasoning by analogy you boil things down to the most fundamental truths you can imagine and you reason up from there and this is a good way to figure out if something really makes sense or its just what everybody else is doing. If you are trying to do something new its the best way to think.
People tend to overweight risk on a personal level
Lets say you are young and you are just coming out of college or school whatever, what are your risks? You are not going to stop. Its not possible in any kind of modern economy, it’s so easy to earn enough money just to live somewhere and eat food. Thats very easy to do. I don’t know what they are afraid of? They are mostly afraid of failure i think, people should be less risk-averse when there is not much at risk.
You can’t build just slightly better products
You have got to make sure that whatever you are doing is a great product or service. It has to be really great. If you are in a new industry the standards are lower for your product or service but if you are entering anything where there’s an existing market place against large and trenched competitiors, then your product or service needs to be much better. It can’t be a little bit better because then you put yourself in the choose of the consumer. Consumers are always going to buy the trusted brand unless there is a big difference.
A lot of times, entrepreneur will come up with something which is only slightly better and its not going to work. You can’t just be slightly better, its got to be a lot better.
Attract and gather great people in your company
All the company is, a group of people that have gathered together to create a product or service. And so depending upon how talented and hard working that group is, the degree to which they are focused cohesively in a good direction, that will determine the success of the company. So do everything you can to gather great people if you are creating a company.
Constantly seek criticism
You should take th approach that you are wrong. That you as the entrepreneur is wrong. Your goal is to be less wrong.
Critics say you can’t do it, your answer to them is? We have done it.
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