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LinkedIn’s Co-Founder Reid Hoffman – 10 Rules for Entrepreneurs
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As a fan of LinkedIn and the way they continually look for ways to leverage the data within their database, I was happy to see co-founder Reid Hoffman’s Ten Rules for Entrepreneurs as part of a recent posting by Fast Company. Understanding Reid’s background as an angel investor and his product management roles Apple, PayPal and Fujitsu, the list does show his encouragement for entrepreneurs to “understand the nuances of data in the information age.”
Seek To Create Disruptive Change. Is this massive and different? Example: Skype
Aim Big. It’s the same amount of blood, sweat and tears to build a small company to flip as a big one to change the world.
Build A Network to Amplify Your Company. Your network is a store of distributed intelligence that can enable you. It’s important at the board and investor level and the rank and file.
Plan for Both Good and Bad Luck. Opportunity will cross your path and you’ll have to pivot to reach it. Plan Bs are intuitively easier to plan for.
Maintain Flexible Persistence. Know when to be persistent, when to be flexible and when to be a combination of both.
Launch Early Enough To Be Embarrassed By Your Creation. You’ll probably be wrong about most of your thesis, and you might as well get the feedback. Perfection is a myth. Get it into the mix. Don’t undervalue the importance of time.
Aim High But Don’t Drink Your Own Kool-Aid. Find friends who will tell you when your baby is ugly.
A Great Idea for a Product is Important. But a great idea for product distribution is more important.
Pay Attention to Your Culture. Worry about getting hiring right from the very beginning.
These Rules are Not Laws of Nature. You can break them. |
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