Reid Hoffman Quotes

for many people “twenty years of experience” is really one year of experience repeated twenty times.

This formal philosophy of learning treats knowledge like a fixed asset: learn, then you have it forever! But as a modern professional, you can’t acquire knowledge this way, because the knowledge you need isn’t static — it’s always changing. Stockpiling facts won’t get you anywhere. What will get you somewhere is being able to access the information you need, when you need it.

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As with her previous tours, the process of defining the tour was a collaboration between Gultekin and her manager. “Dan always asks, ‘What do you want to do in five years?’ and we work backwards from there,” Gultekin told us. “I want to be a general manager, so we decided that I needed to add sales to my toolkit. I had never done sales in my life but he knew that my fresh perspective could be useful.” Notice how the mission had to serve the needs of both the employee and the business; Gultekin and LinkedIn have a strong alliance because they have the mutual trust to commit to a mutual investment (shifting to sales) that will provide mutual benefit (a more well-rounded skill set for Gultekin, and a fresh perspective for LinkedIn).

a company’s business model describes how it generates financial returns by producing, selling, and supporting its products.

The ideal, of course, is to hire an executive with past experience at a blitzscaling start-up that has already dealt with the challenges your company currently faces. This is why investors have more confidence in serial entrepreneurs. One of the major advantages that companies in Silicon Valley enjoy is generations of rapidly scaling companies that have produced a rich supply of executives with blitzscaling experience. Yet even if you can’t land an ideal candidate, second best is to hire a manager who has previously worked with successful executives in a very rapidly growing company, or an executive who earned her executive experience at a larger or more traditional business but who also worked at a blitzscaling start-up at another time in her career.

In addition to seeking help on an ad hoc basis, I believe it’s a good idea to be systematic about learning from others. I advise entrepreneurs to have a personal board of advisers or “board of directors” who can proffer advice and help you fill the gaps in your knowledge. For example, I have a set of informal advisers who help me learn about the areas that matter to me, including very specific topics like virality or people management. If you’re serious about someday blitzscaling a company, you should think of your mentors as a board of directors. Regularly report to them on your progress, and ask them how you can do better.

Peter doesn’t believe in beating the competition, he believes in escaping it altogether — either by entering an emerging field with no natural competitors or by moving so quickly and decisively that competitors have no hope of catching up.

Blitzscaling requires you to move at a pace that is almost certainly uncomfortable for your team. You will definitely make many mistakes as you navigate an environment full of uncertainty; the art lies in developing the skill to learn quickly from those mistakes and return to a relentlessly rapid advance.

Weak cultures are diffuse; people act differently, and don’t understand each other, and it becomes political.

Watch what they do, not what they say Watching what your customers are doing — or trying to do — with your product can light the way forward. But you have to be careful to pay attention to what they do and not just what they say. Expect to have your theories of human behavior tested Your theory about how individuals and groups behave should underlie your strategy, your product design, your incentive program — every decision you make. But be open and alert to when your customers show you a different theory or direction. That could become your product’s point of differentiation. Follow the leaders: Your customers To grow your business, you may have to give up control. Look for instances when your customers hack or hijack your product, and then go along for the ride. Get Mr. Spock and Dr. McCoy working together Customer data is your Mr. Spock, detached and logical. Customer emotion is your Dr. McCoy, passionate and all too human. Think of yourself as Captain Kirk, responsible for making the two work together to get the best out of each.

Twitter came close to melting down in the same way, but managed to recover in time to build a massive business. When Twitter began its rise in the late 2000s, it became infamous for its “Fail Whale,” a whimsical error message that appeared whenever its servers couldn’t handle the load. Unfortunately for Twitter, the Fail Whale made fairly regular appearances, especially when big news hit, such as the death of the recording artist Michael Jackson in 2009 (to be fair, Twitter was hardly the only website that had these issues when the King of Pop passed away) or the 2010 World Cup. Twitter invested serious resources into rearchitecting both its systems and its engineering processes to be more efficient. Even with this strenuous effort, it took several years to “tame” the Fail Whale; it wasn’t until after Twitter made it through the 2012 US presidential election night without melting down that the company’s then–creative director Doug Bowman announced that the Great Blue Whale had been put to death.

Society flourishes when people think entrepreneurally.

Network effects generate a positive feedback loop that can allow the first product or service that taps into those effects to build an unassailable competitive advantage.

A good mission and values statement should be specific and rigorous enough so that some competent players will feel a strong alignment, while others will understand that the company just isn’t a good fit. You may lose people who do not feel strong alignment with your company or group, but you want to lose those people — this allows you to build much stronger alignment with those who choose to join.