Exceptional people put a premium on working with other exceptional people. This requires that you not only hire well, but cut smartly. It means t… - Marc Randolph

There's this myth floating around startup land that says you just pound away forever and never give up—that if you persevere long enough, success will inevitably come knocking.

But that's bullshit.

Don't get me wrong....I'm a huge believer in persistence.

But there's a crucial difference between productive persistence and just being stubborn.

And knowing which one you're practicing?

Well, that's the hard part.

You don’t beat competitors by doing the same thing slightly better.....you beat them by doing something different that matters more to your customer.

If everyone’s fighting over price, find a better experience.

If they’re all optimizing convenience, find a niche they’re ignoring.

The key is focus.

And solving one painful problem really well.

The main thing I’ve learned in 40-plus years as an entrepreneur is that nobody knows anything.

Nobody knows if your idea is good or bad. You don’t know if it’s good or bad. You need to test your idea, trial it, collide it with reality.

That’s the only way to learn.