Episode February 7, 2022

Reid Hoffman ON: The Entrepreneur’s Mindset & Why What Got You Here Won’t Get You There

From On Purpose with Jay Shetty Perfect Strangers

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Jay Shetty chats with Reid Hoffman about entrepreneurship. As a known personality in the business world, Reid tells us how business people become successful entrepreneurs, how to identify which ideas are worth cultivating, the art of saying “Not right now”, and the value behind experimentation.

Reid is an internet entrepreneur, venture capitalist, podcaster, and author. Hoffman was the co-founder and executive chairman of LinkedIn, a business-oriented social network used primarily for professional networking. He is currently a partner at the venture capital firm Greylock Partners. He's also the host of the Masters of Scale Podcast, where he shows how companies grow from zero to a gazillion, testing his theories with legendary leaders.

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What to Listen For:

00:00 Intro
03:11 How did you become an entrepreneur?
05:44 The mistake you shouldn’t avoid
08:57 Defining growing and scaling a business
13:28 The ideas that will actually work
17:53 Frequently, you'll say, “Not right now.”
20:27 Every YES involves a leap of faith
23:47 If it’s really important, experiment with it
26:33 The path that got you here isn’t the path that will get you there
30:51 Ask, “What won’t work about this idea?”
38:28 The most critical part of hiring
42:15 Culture should always seek excellence, but specific
46:54 Spend time observing the unguided and unforced interaction with the product or service
50:54 Entrepreneurial journeys are team sport
53:12 Reid on Fast Five

Episode Resources