Diese Eigenschaft unterscheidet erfolgreiche Gründer

0:00What percentage would you allocate to being the person in charge of running it versus the business itself? >> Man, I'll say 50/50. >> Like I was lean I was going back and forth. It's like you know cuz Uncle Warren has uh you know great manager uh bad market bad market wins. >> Um you know good market uh bad manager good market wins. Um I think that like the market is for sure the most powerful thing. But if we control for market like you know if you're selling toilet paper in COVID you're going to make money whether you're an idiot or not. like it's going to work. Um, but I think the vast majority of marketplaces are not on either extreme. You're not selling to newspapers and you're not selling toilet paper during co. Most businesses are just kind of like in the middle. They're in markets that are just normal. And in those situations, um, the business model obviously has to be sound, but the business model is a reflection of the entrepreneur. And so if we remove market, then I'll say it's entrepreneur um, for sure. But market is more important if it's in one of these extremes.

0:54>> What qualities do you see in those people? Are there similarities between the two? Yeah, there's, you know, it's interesting because there's like there's there's for sure similarities. I think there's far fewer than most people expect because um like even if you look at the top entre like I think Basos and Elon are some of the goats of all time in terms of entrepreneurship. So different in terms of their personalities, the way they behave, their even values like all those things I think they have some significant differences but in terms of like what are the commonalities about how they operate they all they focus on speed they focus on having an exceptional product. both of them talk about just I mean Elon doesn't say customer obsessed he says products obsessed but they they translate to the same thing which is like they focus on product first above everything else um they're super long-term focused uh people might have you know some should something to say about me saying this but like I think they both have high ethics um like ah he's devil but whatever I won't even come leave it there um but high ethics uh high customer obsession perspective huge ability to tolerate pain um and the ability to tolerate risk which is to to have the courage to do it and because both of them had so many moments where they just went all in on Amazon or all in on Tesla or um SpaceX or whatever. It's like you have to have some ability to make to to go big and bet the farm. And I think that that every entrepreneur that almost every entrepreneur that I know who's made it really big has had a moment where they're like this could not work and I'm just going to try and make it work. It's so interesting because I feel like there's a huge trend online right now and also maybe for the past like 5 10 years of there can never be an ethical billionaire. Do you think in order to get to that level of wealth there needs to be a time where you compromise your ethics or do you think that's just a bunch of stuff that people like like to throw out there to maybe self arrandise themselves?

2:38>> Well, as somebody who's whatever um [laughter] >> go ahead as someone >> I am I am biased so I'll state my bias. um I am trying to hit it or in process of hitting it. And so I obviously don't think that there's an an ethical um like that you have to I think I'll say it differently. If you took a random slice of the population just just America or even the world you're going to have a certain percentage of people who are ethical and have certain percentage of people who are not ethical and the skills to run a business I think can operate in some ways independently of those things. So you can become super financially successful and be unethical and you can be super financially successful and be ethical. And so I think that you'll have a distribution that is normalized at the top as much as you do in the middle. Like how many people are divorced, how many people are married, how many people are like you're going to have how many people have kids, how many people don't have kids. Like you're going to have a random distribution there. And I think people will just cherrypick uh bad actors. Um and there's also like allegations based on like regulations. Like if you look at all the big fortune whatever companies, it really starts to come down to like what do you [gasps] if we I mean it gets into ethics which is a totally different can of worms. But if you were to say like uh you know the TCPA which is telephone consumer protection agency whatever

3:52>> they go after a company and it was because the company didn't put the right language on their you know landing page and because of that they sued Facebook for $700 million. Is Facebook being unethical or are they operating in ignorance? Um, oftentimes when you have more laws than you can keep track of, um, or somebody makes an oopsie, uh, those things happen. And so it really depends like, okay, are we now saying that Facebook's unethical? Now, I'm not saying that I think that they're good for the world, but I'm saying fundamentally like, um, I think mistakes can happen. And so the idea that people will say a billionaire um might be unethical is probably different than a billionaire has made mistakes. And I think those are very two very different things. Um because for sure every billionaire has made mistakes and for sure has done things that they wish they hadn't because that's what humans do in life. Real quick, I'm going to show you the exact 10stage road map from zero to 100 million plus that less than 1% of companies finish. I've now done multiple times. And so I can say with a lot of confidence that these are the stages as headcount increases that you need to get through. And I broke each of these down by eight different functions of the business. What the constraint feels like, like what are the symptoms of it when you're going through it. And then what steps we actually took to graduate.

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