- Be able to fire your mother
- Fire non-fits (cultural, attitude, public perception) in your company. Different from non performers
- Be able to explain your idea SIMPLY in 60-90 seconds
- Invest in teams that solve for the leader's weaknesses
- - Great entrepreneurs know their weakness
- - If the head of sales knows more about the company/customer than the CEO, the CEO is getting fired
- - Sales always highest paid person, without a cap
- Don't BS your business behind a cause. "For every X widget you buy, I'll donate Y to charity"
- - Create a sustainable growth and scalable machine that provides jobs first.
- The longer you're in the game, the more your gut feeling is right (subconscious decisions from cumulative experience. That 6th sense)
- He loves failure in people he invests
- Passion is not mutually exclusive from entrepreneurship. Most of the people he meets are passionate about what they do.
- - Execution trumps all
- - Stop daydreaming vision all day (He's equating vision to ideas. Everyone has ideas)
- - Set realistic goals you can actually meet, on top of the vision
- KNOW YOUR CUSTOMER ACQUISITION COST (CAC) AND LIFETIME VALUE (LV), regardless of how long you've been operating
- - Market size doesn't matter - sustainability does