[Music] you you have to have a lot of passion
you you have to have a lot of passion
you you have to have a lot of passion for what you’re doing and it’s totally
for what you’re doing and it’s totally
for what you’re doing and it’s totally true and the reason is is because it’s
true and the reason is is because it’s
true and the reason is is because it’s so hard that if you don’t any rational
so hard that if you don’t any rational
so hard that if you don’t any rational person would give up it’s really hard
person would give up it’s really hard
person would give up it’s really hard and you have to do it over a sustained
and you have to do it over a sustained
and you have to do it over a sustained period of time so if you don’t love it
period of time so if you don’t love it
period of time so if you don’t love it if you’re not having fun doing it you
if you’re not having fun doing it you
if you’re not having fun doing it you don’t really love it you’re gonna give
don’t really love it you’re gonna give
don’t really love it you’re gonna give up and that’s what happens to most
up and that’s what happens to most
up and that’s what happens to most people actually if you really look at
people actually if you really look at
people actually if you really look at that the ones that ended up you know
that the ones that ended up you know
that the ones that ended up you know being successful unquote the eyes of
being successful unquote the eyes of
being successful unquote the eyes of society and the ones that didn’t
society and the ones that didn’t
society and the ones that didn’t oftentimes it’s the ones that are
oftentimes it’s the ones that are
oftentimes it’s the ones that are successful loved what they did so they
successful loved what they did so they
successful loved what they did so they could persevere well you know when it
could persevere well you know when it
could persevere well you know when it got really tough and and the ones that
got really tough and and the ones that
got really tough and and the ones that didn’t love it quit because they’re
didn’t love it quit because they’re
didn’t love it quit because they’re saying right who would want to put up
saying right who would want to put up
saying right who would want to put up with this stuff if you don’t love it so
with this stuff if you don’t love it so
with this stuff if you don’t love it so it’s a lot of hard work and and it’s a
it’s a lot of hard work and and it’s a
it’s a lot of hard work and and it’s a lot of worrying constantly and if you
lot of worrying constantly and if you
lot of worrying constantly and if you don’t love it you’re gonna fail so you
don’t love it you’re gonna fail so you
don’t love it you’re gonna fail so you got to love it you got to have passion
got to love it you got to have passion
got to love it you got to have passion [Music]
when you grow up you tend to get told
when you grow up you tend to get told that the world is the way it is and your
that the world is the way it is and your
that the world is the way it is and your your life is just to live your life
your life is just to live your life
your life is just to live your life inside the world try not to bash into
inside the world try not to bash into
inside the world try not to bash into the walls too much try to have a nice
the walls too much try to have a nice
the walls too much try to have a nice family life have fun save a little money
but life that’s a very limited life life
but life that’s a very limited life life can be much broader once you discover
can be much broader once you discover
can be much broader once you discover one simple fact and that is everything
one simple fact and that is everything
one simple fact and that is everything around you that you call life was made
around you that you call life was made
around you that you call life was made up by people that were no smarter than
up by people that were no smarter than
up by people that were no smarter than you and you can change it you can
you and you can change it you can
you and you can change it you can influence it you can you can build your
influence it you can you can build your
influence it you can you can build your own things that other people can use and
own things that other people can use and
own things that other people can use and the minute that you understand that you
the minute that you understand that you
the minute that you understand that you can poke life and actually something
can poke life and actually something
can poke life and actually something will you know if you push in something
will you know if you push in something
will you know if you push in something will pop out the other side that you can
will pop out the other side that you can
will pop out the other side that you can you can change it you can mold it that’s
you can change it you can mold it that’s
you can change it you can mold it that’s maybe the most important thing is to
maybe the most important thing is to
maybe the most important thing is to shake off this that this erroneous
shake off this that this erroneous
shake off this that this erroneous notion that life is is there and you’re
notion that life is is there and you’re
notion that life is is there and you’re just gonna live in it versus embrace it
just gonna live in it versus embrace it
just gonna live in it versus embrace it change it improve it make your mark upon
change it improve it make your mark upon
change it improve it make your mark upon it I I think that’s very important and
it I I think that’s very important and
it I I think that’s very important and however you learn that once you learn it
however you learn that once you learn it
however you learn that once you learn it you’ll want to change life and make it
you’ll want to change life and make it
you’ll want to change life and make it better because it’s kind of messed up in
better because it’s kind of messed up in
better because it’s kind of messed up in a lot of ways once you learn that you’ll
a lot of ways once you learn that you’ll
a lot of ways once you learn that you’ll never be the same again
it’s very interesting I was worth about
it’s very interesting I was worth about over a million dollars when I was 23 and
over a million dollars when I was 23 and
over a million dollars when I was 23 and over ten million dollars from I was 24
over ten million dollars from I was 24
over ten million dollars from I was 24 and over a hundred million dollars when
and over a hundred million dollars when
and over a hundred million dollars when I was 25 and it wasn’t that important
I was 25 and it wasn’t that important
I was 25 and it wasn’t that important because I never did it for the money I I
because I never did it for the money I I
because I never did it for the money I I think money is wonderful thing because
think money is wonderful thing because
think money is wonderful thing because it enables you to do things it enables
it enables you to do things it enables
it enables you to do things it enables you to invest in ideas that don’t have a
you to invest in ideas that don’t have a
you to invest in ideas that don’t have a short-term payback and things like that
short-term payback and things like that
short-term payback and things like that but especially at that point in my life
but especially at that point in my life
but especially at that point in my life it was it was not the most important
it was it was not the most important
it was it was not the most important thing the most important thing was the
thing the most important thing was the
thing the most important thing was the company the people the products we were
company the people the products we were
company the people the products we were making what we were gonna enable people
making what we were gonna enable people
making what we were gonna enable people to do with these products so I didn’t
to do with these products so I didn’t
to do with these products so I didn’t think about it a great deal you know I
think about it a great deal you know I
think about it a great deal you know I never sold any stock just really
never sold any stock just really
never sold any stock just really believed that the company would would do
believed that the company would would do
believed that the company would would do very well over the long term
now is the time to take risk you don’t
now is the time to take risk you don’t have kids as you get older your
have kids as you get older your
have kids as you get older your obligations increase so your and once
obligations increase so your and once
obligations increase so your and once you have a family you start taking risk
you have a family you start taking risk
you have a family you start taking risk not just for yourself but for your
not just for yourself but for your
not just for yourself but for your family as well it gets much harder to do
family as well it gets much harder to do
family as well it gets much harder to do things that might not work out so now is
things that might not work out so now is
things that might not work out so now is the time to do that before you before
the time to do that before you before
the time to do that before you before you have those obligations so I would
you have those obligations so I would
you have those obligations so I would encourage you to take risks now to do
encourage you to take risks now to do
encourage you to take risks now to do something bold you won’t regret it
really liking what you do what whatever
really liking what you do what whatever area that you get into given that you
area that you get into given that you
area that you get into given that you know even if you if you’re the best the
know even if you if you’re the best the
know even if you if you’re the best the best there’s always a chance of failure
best there’s always a chance of failure
best there’s always a chance of failure so I think it’s important that you
so I think it’s important that you
so I think it’s important that you really like whatever you’re doing if you
really like whatever you’re doing if you
really like whatever you’re doing if you don’t like it life is too short if you
don’t like it life is too short if you
don’t like it life is too short if you like what you’re doing you think about
like what you’re doing you think about
like what you’re doing you think about it even when you’re not working I mean
it even when you’re not working I mean
it even when you’re not working I mean it’ll just it’s something that your mind
it’ll just it’s something that your mind
it’ll just it’s something that your mind is drawn to and and if you don’t like it
is drawn to and and if you don’t like it
is drawn to and and if you don’t like it you just really can’t make a work I
you just really can’t make a work I
you just really can’t make a work I think
we focus on on signal over noise a lot
we focus on on signal over noise a lot of companies get confused that they
of companies get confused that they
of companies get confused that they spend money on things that don’t
spend money on things that don’t
spend money on things that don’t actually make the product better for
actually make the product better for
actually make the product better for example at Tesla with we’ve never spent
example at Tesla with we’ve never spent
example at Tesla with we’ve never spent any money on advertising we put all of
any money on advertising we put all of
any money on advertising we put all of the money into R&D and manufacturing and
the money into R&D and manufacturing and
the money into R&D and manufacturing and design to try to make the car as good as
design to try to make the car as good as
design to try to make the car as good as possible and I think that’s that’s
possible and I think that’s that’s
possible and I think that’s that’s that’s the way to go before for any
that’s the way to go before for any
that’s the way to go before for any given company just keep thinking about
given company just keep thinking about
given company just keep thinking about are these efforts that people are
are these efforts that people are
are these efforts that people are expending are they resulting in a better
expending are they resulting in a better
expending are they resulting in a better product or service and if they’re not
product or service and if they’re not
product or service and if they’re not stopped there’s effort
you know personally I think every time
you know personally I think every time is a perfect time to start a business
is a perfect time to start a business
is a perfect time to start a business there’s no bad times if you do the work
there’s no bad times if you do the work
there’s no bad times if you do the work if you do the preparation you’ll know
if you do the preparation you’ll know
if you do the preparation you’ll know when it’s time and it doesn’t mean that
when it’s time and it doesn’t mean that
when it’s time and it doesn’t mean that it won’t be a little bit scary but you
it won’t be a little bit scary but you
it won’t be a little bit scary but you know it’s you know and you don’t have to
know it’s you know and you don’t have to
know it’s you know and you don’t have to quit the daytime job if you don’t feel
quit the daytime job if you don’t feel
quit the daytime job if you don’t feel that all that comfortable and you can
that all that comfortable and you can
that all that comfortable and you can give it a run at night but whatever
give it a run at night but whatever
give it a run at night but whatever works for you now with the internet
works for you now with the internet
works for you now with the internet you’ve got all the choices in the world
you’ve got all the choices in the world
you’ve got all the choices in the world and you can just go out there and do
and you can just go out there and do
and you can just go out there and do your own thing and and you know set up a
your own thing and and you know set up a
your own thing and and you know set up a business part-time passion I’ve always
business part-time passion I’ve always
business part-time passion I’ve always had for business and being an
had for business and being an
had for business and being an entrepreneur the trend that transfers
entrepreneur the trend that transfers
entrepreneur the trend that transfers into the mavs I’ve always been
into the mavs I’ve always been
into the mavs I’ve always been passionate some people thought you know
passionate some people thought you know
passionate some people thought you know it’s a it’s more OCD than anything else
it’s a it’s more OCD than anything else
it’s a it’s more OCD than anything else which i think is a great trait for an
which i think is a great trait for an
which i think is a great trait for an entrepreneur when I you know I mentioned
entrepreneur when I you know I mentioned
entrepreneur when I you know I mentioned the stamp business I would stay up till
the stamp business I would stay up till
the stamp business I would stay up till 3:00 4:00 in the morning even though I
3:00 4:00 in the morning even though I
3:00 4:00 in the morning even though I had to get up and go to school and read
had to get up and go to school and read
had to get up and go to school and read Lin stamp news and Scots stamp journals
Lin stamp news and Scots stamp journals
Lin stamp news and Scots stamp journals and have them all memorized and and use
and have them all memorized and and use
and have them all memorized and and use that to give myself an edge even when I
that to give myself an edge even when I
that to give myself an edge even when I was in college I’d be in live in the
was in college I’d be in live in the
was in college I’d be in live in the library reading business books and just
library reading business books and just
library reading business books and just looking for business biographies and
looking for business biographies and
looking for business biographies and just reading all I could about business
just reading all I could about business
just reading all I could about business when I had Micro solutions and you know
when I had Micro solutions and you know
when I had Micro solutions and you know I started with no money
I started with no money
I started with no money you know I pull all-nighters in in front
you know I pull all-nighters in in front
you know I pull all-nighters in in front of borrowed computers teaching myself
of borrowed computers teaching myself
of borrowed computers teaching myself software and and how to program
they come up with an idea
they come up with an idea they’ll google it and if they don’t see
they’ll google it and if they don’t see
they’ll google it and if they don’t see it in the first two pages they think
it in the first two pages they think
it in the first two pages they think it’s original you’ve got to go back
it’s original you’ve got to go back
it’s original you’ve got to go back right because over the past 15 years
right because over the past 15 years
right because over the past 15 years there’s so many different businesses
there’s so many different businesses
there’s so many different businesses that have tried and failed you have to
that have tried and failed you have to
that have tried and failed you have to go back and find those and learn from
go back and find those and learn from
go back and find those and learn from those so you’ve got to understand all
those so you’ve got to understand all
those so you’ve got to understand all the implications and you have to learn
the implications and you have to learn
the implications and you have to learn from history and so the best advice I
from history and so the best advice I
from history and so the best advice I can give you on a video before talking
can give you on a video before talking
can give you on a video before talking to you or emailing with you is that
to you or emailing with you is that
to you or emailing with you is that you’ve got to find out the history of
you’ve got to find out the history of
you’ve got to find out the history of people who have tried your idea because
people who have tried your idea because
people who have tried your idea because there’s a 99.99999% chance that your
there’s a 99.99999% chance that your
there’s a 99.99999% chance that your ideas could try before that’s not a good
ideas could try before that’s not a good
ideas could try before that’s not a good reason not to start it because you might
reason not to start it because you might
reason not to start it because you might be able to outperform them but you
be able to outperform them but you
be able to outperform them but you better learn from the history of your
better learn from the history of your
better learn from the history of your idea because you know what they say
idea because you know what they say
idea because you know what they say about people who don’t learn from
about people who don’t learn from
about people who don’t learn from history
the most important thing about running a
the most important thing about running a company is to remember all the time what
company is to remember all the time what
company is to remember all the time what a company is a company is simply a group
a company is a company is simply a group
a company is a company is simply a group of people and as a leader of people you
of people and as a leader of people you
of people and as a leader of people you have to be a great listener you have to
have to be a great listener you have to
have to be a great listener you have to be a great motivator you have to be very
be a great motivator you have to be very
be a great motivator you have to be very good at praising and looking for the
good at praising and looking for the
good at praising and looking for the best in people you know people are no
best in people you know people are no
best in people you know people are no different from from flowers if you water
different from from flowers if you water
different from from flowers if you water flowers they flourish if you praise
flowers they flourish if you praise
flowers they flourish if you praise people they flourish and and that’s a
people they flourish and and that’s a
people they flourish and and that’s a critical attribute of a leader I’ve
critical attribute of a leader I’ve
critical attribute of a leader I’ve never actually thought I was you know
never actually thought I was you know
never actually thought I was you know starting a company as such and I just
starting a company as such and I just
starting a company as such and I just saw situations as I traveled in life
saw situations as I traveled in life
saw situations as I traveled in life where I felt I could improve on the way
where I felt I could improve on the way
where I felt I could improve on the way things have been done by other people so
things have been done by other people so
things have been done by other people so you know so one way favorite phrases is
you know so one way favorite phrases is
you know so one way favorite phrases is screw it let’s do it and I’ve used that
screw it let’s do it and I’ve used that
screw it let’s do it and I’ve used that phrase a lot of times and we and and we
phrase a lot of times and we and and we
phrase a lot of times and we and and we you know we just love going in and
you know we just love going in and
you know we just love going in and trying to shake up industries and doing
trying to shake up industries and doing
trying to shake up industries and doing it better than it’s been done before the
it better than it’s been done before the
it better than it’s been done before the New York Times did a review and they did
New York Times did a review and they did
New York Times did a review and they did some market research and they said you
some market research and they said you
some market research and they said you know first of all with a name like
know first of all with a name like
know first of all with a name like virgin it’s not going to go the whole
virgin it’s not going to go the whole
virgin it’s not going to go the whole way but secondly that they did market
way but secondly that they did market
way but secondly that they did market research which said only 7% of people
research which said only 7% of people
research which said only 7% of people would fly on an airline called virgin
would fly on an airline called virgin
would fly on an airline called virgin and and we put our hands up and said 7%
and and we put our hands up and said 7%
and and we put our hands up and said 7% would be just fine so so we carried on
would be just fine so so we carried on
would be just fine so so we carried on with it but there were a lot of there
with it but there were a lot of there
with it but there were a lot of there are a lot of skeptics out there and
are a lot of skeptics out there and
are a lot of skeptics out there and there always will be lots of skeptics
there always will be lots of skeptics
there always will be lots of skeptics when when you want to start something
when when you want to start something
when when you want to start something new everybody will tell you why it’s a
new everybody will tell you why it’s a
new everybody will tell you why it’s a bad idea why you shouldn’t do it why
bad idea why you shouldn’t do it why
bad idea why you shouldn’t do it why you’ll you don’t lose everything you’ve
you’ll you don’t lose everything you’ve
you’ll you don’t lose everything you’ve got and in the end you just got to get
got and in the end you just got to get
got and in the end you just got to get out and try to prove them wrong
out and try to prove them wrong
out and try to prove them wrong good luck
when I didn’t graduate from universities
when I didn’t graduate from universities and before you know for three years I
and before you know for three years I
and before you know for three years I tried fill-in to universities so I apply
tried fill-in to universities so I apply
tried fill-in to universities so I apply jobs or 30 times don’t reject it
jobs or 30 times don’t reject it
jobs or 30 times don’t reject it I went for a police if you know you’re
I went for a police if you know you’re
I went for a police if you know you’re not good I went to you know even the KFC
not good I went to you know even the KFC
not good I went to you know even the KFC when KFC came to China come to I say gee
when KFC came to China come to I say gee
when KFC came to China come to I say gee 24 people went for the job 23 people
24 people went for the job 23 people
24 people went for the job 23 people accepted I was the only one guy and we
accepted I was the only one guy and we
accepted I was the only one guy and we went for please five people all of them
went for please five people all of them
went for please five people all of them accepted I was the only guy than
accepted I was the only guy than
accepted I was the only guy than aristocracy villain so to me being
aristocracy villain so to me being
aristocracy villain so to me being turned down rejected out by the way I
turned down rejected out by the way I
turned down rejected out by the way I told you that I would I apply for
told you that I would I apply for
told you that I would I apply for Harvard for 10 times rejected we believe
Harvard for 10 times rejected we believe
Harvard for 10 times rejected we believe I cook on very different from the Wall
I cook on very different from the Wall
I cook on very different from the Wall Street we believe custom number one in
Street we believe custom number one in
Street we believe custom number one in pride number to share another customer
pride number to share another customer
pride number to share another customer one employee to share memory yeah are we
one employee to share memory yeah are we
one employee to share memory yeah are we again this is my religion you know if
again this is my religion you know if
again this is my religion you know if you it’s the custom that pays the money
you it’s the custom that pays the money
you it’s the custom that pays the money it’s the employees that drive the
it’s the employees that drive the
it’s the employees that drive the innovation it’s the shareholding sheriff
innovation it’s the shareholding sheriff
innovation it’s the shareholding sheriff hood always say you know I remember the
hood always say you know I remember the
hood always say you know I remember the day before we IPO and a lot of people
day before we IPO and a lot of people
day before we IPO and a lot of people Sage cannot keep up the shares we were
Sage cannot keep up the shares we were
Sage cannot keep up the shares we were long-term shareholders but when the
long-term shareholders but when the
long-term shareholders but when the crisis came these guys long assumed it
crisis came these guys long assumed it
crisis came these guys long assumed it you know they ran away run away by the
you know they ran away run away by the
you know they ran away run away by the people who stayed custom stay
people who stayed custom stay
people who stayed custom stay [Music]
[Music]
[Music] most people complain where the
most people complain where the
most people complain where the opportunities people start complaining
opportunities people start complaining
opportunities people start complaining some people complain some stuff people’s
some people complain some stuff people’s
some people complain some stuff people’s have to change themselves changing
have to change themselves changing
have to change themselves changing others
[Music]
[Music] you know people really if you really
you know people really if you really
you know people really if you really think about it people want to do
think about it people want to do
think about it people want to do business with people they like I mean
business with people they like I mean
business with people they like I mean every now and then you’ll do a deal with
every now and then you’ll do a deal with
every now and then you’ll do a deal with the devil but you don’t really like the
the devil but you don’t really like the
the devil but you don’t really like the devil but you have do it sometimes but
devil but you have do it sometimes but
devil but you have do it sometimes but you really much rather do business with
you really much rather do business with
you really much rather do business with somebody you like somebody who shares
somebody you like somebody who shares
somebody you like somebody who shares your value somebody who you know is
your value somebody who you know is
your value somebody who you know is committed to the same objectives you are
committed to the same objectives you are
committed to the same objectives you are somebody’s willing to work as hard as
somebody’s willing to work as hard as
somebody’s willing to work as hard as you are and when you find those people
you are and when you find those people
you are and when you find those people those are the people you want to bring
those are the people you want to bring
those are the people you want to bring under your tent to be part of your
under your tent to be part of your
under your tent to be part of your business objective and you’ve got to do
business objective and you’ve got to do
business objective and you’ve got to do that by you know sort of presenting
that by you know sort of presenting
that by you know sort of presenting yourself in a way that people clearly
yourself in a way that people clearly
yourself in a way that people clearly understand that you are committed to
understand that you are committed to
understand that you are committed to creating values business people want to
creating values business people want to
creating values business people want to create value it doesn’t mean they don’t
create value it doesn’t mean they don’t
create value it doesn’t mean they don’t want to have fun doesn’t mean that they
want to have fun doesn’t mean that they
want to have fun doesn’t mean that they don’t want to be involved in other kinds
don’t want to be involved in other kinds
don’t want to be involved in other kinds of things but if you can say go to
of things but if you can say go to
of things but if you can say go to someone and convince them that I can
someone and convince them that I can
someone and convince them that I can help you create value and by your
help you create value and by your
help you create value and by your ability to articulate that and to
ability to articulate that and to
ability to articulate that and to communicate it and to give people the
communicate it and to give people the
communicate it and to give people the impression that you will work as hard as
impression that you will work as hard as
impression that you will work as hard as they will to create that value you’re
they will to create that value you’re
they will to create that value you’re gonna find people wanting to come to you
if you don’t believe in yourself if you
if you don’t believe in yourself if you don’t believe that you can overcome
don’t believe that you can overcome
don’t believe that you can overcome obstacles if you don’t believe you have
obstacles if you don’t believe you have
obstacles if you don’t believe you have the work ethic if you don’t believe you
the work ethic if you don’t believe you
the work ethic if you don’t believe you have the inner confidence to project to
have the inner confidence to project to
have the inner confidence to project to other people it’ll never happen because
other people it’ll never happen because
other people it’ll never happen because part of starting a business is not
part of starting a business is not
part of starting a business is not having not only having the vision of an
having not only having the vision of an
having not only having the vision of an idea you’ve got to build around you a
idea you’ve got to build around you a
idea you’ve got to build around you a team of stakeholders who believe in you
team of stakeholders who believe in you
team of stakeholders who believe in you people follow leaders people invest in
people follow leaders people invest in
people follow leaders people invest in leaders people support people who have a
leaders people support people who have a
leaders people support people who have a vision and are willing to and are able
vision and are willing to and are able
vision and are willing to and are able to articulate it and not just stability
to articulate it and not just stability
to articulate it and not just stability you know a lot of people are good I got
you know a lot of people are good I got
you know a lot of people are good I got a good gift for gab it’s the ability to
a good gift for gab it’s the ability to
a good gift for gab it’s the ability to convince people that you’re gonna be
convince people that you’re gonna be
convince people that you’re gonna be part of something that’s going to be
part of something that’s going to be
part of something that’s going to be successful you’re going to share in the
successful you’re going to share in the
successful you’re going to share in the success it’s going to be beneficial to
success it’s going to be beneficial to
success it’s going to be beneficial to you and your family in the long run
you and your family in the long run
you and your family in the long run you’re going to be respected for what
you’re going to be respected for what
you’re going to be respected for what you contribute and you’re going to have
you contribute and you’re going to have
you contribute and you’re going to have an opportunity to fulfill your own
an opportunity to fulfill your own
an opportunity to fulfill your own dreams consistent with the dream of the
dreams consistent with the dream of the
dreams consistent with the dream of the person you’re working with if you can
person you’re working with if you can
person you’re working with if you can convey that sense of confidence in that
convey that sense of confidence in that
convey that sense of confidence in that consent that sense of leadership and
consent that sense of leadership and
consent that sense of leadership and focus on giving people an opportunity to
focus on giving people an opportunity to
focus on giving people an opportunity to grow and be successful with you you’re
grow and be successful with you you’re
grow and be successful with you you’re gonna have people enemy really smart
imagine a group of people go to a
imagine a group of people go to a restaurant and they started well they
restaurant and they started well they
restaurant and they started well they don’t have enough money to pay the bill
don’t have enough money to pay the bill
don’t have enough money to pay the bill so when the waiter comes with the bill
so when the waiter comes with the bill
so when the waiter comes with the bill they don’t want to pay it they don’t
they don’t want to pay it they don’t
they don’t want to pay it they don’t make the sacrifice okay so they keep
make the sacrifice okay so they keep
make the sacrifice okay so they keep ordering and that’s what we’re doing we
ordering and that’s what we’re doing we
ordering and that’s what we’re doing we just keep piling on debt and keep piling
just keep piling on debt and keep piling
just keep piling on debt and keep piling on cost because we don’t want to make
on cost because we don’t want to make
on cost because we don’t want to make the hard choices
[Music]
[Music] you find your passion I was very very
you find your passion I was very very
you find your passion I was very very lucky to find it you know when I was
lucky to find it you know when I was
lucky to find it you know when I was seven or eight years old and you know
seven or eight years old and you know
seven or eight years old and you know and fortunately my children have found
and fortunately my children have found
and fortunately my children have found their passion might you know one son
their passion might you know one son
their passion might you know one son loves farming like nothing else one son
loves farming like nothing else one son
loves farming like nothing else one son loves music like everything else then
loves music like everything else then
loves music like everything else then and all three of them love philanthropy
and all three of them love philanthropy
and all three of them love philanthropy and what they get to do you’re lucky in
and what they get to do you’re lucky in
and what they get to do you’re lucky in life when you find it and you can’t
life when you find it and you can’t
life when you find it and you can’t guarantee you’re gonna find it your
guarantee you’re gonna find it your
guarantee you’re gonna find it your first job out but I always told college
first job out but I always told college
first job out but I always told college students that come on I said take the
students that come on I said take the
students that come on I said take the job that you would take if you were
job that you would take if you were
job that you would take if you were independently wealthy
independently wealthy
independently wealthy you know that’s you’re gonna do well at
you know that’s you’re gonna do well at
you know that’s you’re gonna do well at it if you think you’re going to be a lot
it if you think you’re going to be a lot
it if you think you’re going to be a lot happier if you’ve got to X instead of X
happier if you’ve got to X instead of X
happier if you’ve got to X instead of X you’re probably making a mistake I mean
you’re probably making a mistake I mean
you’re probably making a mistake I mean it yeah you oughta you ought to find
it yeah you oughta you ought to find
it yeah you oughta you ought to find something you like that’s that works
something you like that’s that works
something you like that’s that works with that and it and you’ll get in
with that and it and you’ll get in
with that and it and you’ll get in trouble if if you think that making 10 X
trouble if if you think that making 10 X
trouble if if you think that making 10 X or 20 X is the answer to everything in
or 20 X is the answer to everything in
or 20 X is the answer to everything in life because then you will do things
life because then you will do things
life because then you will do things like borrow money when you should endure
like borrow money when you should endure
like borrow money when you should endure or maybe cut corners on things that your
or maybe cut corners on things that your
or maybe cut corners on things that your employer wants you to cut corners on ER
employer wants you to cut corners on ER
employer wants you to cut corners on ER it just doesn’t make any sense you won’t
it just doesn’t make any sense you won’t
it just doesn’t make any sense you won’t like it when you look back on it half it
like it when you look back on it half it
like it when you look back on it half it never bothered me if people disagreed
never bothered me if people disagreed
never bothered me if people disagreed with what I thought as long as I thought
with what I thought as long as I thought
with what I thought as long as I thought I knew the facts I mean there’s a whole
I knew the facts I mean there’s a whole
I knew the facts I mean there’s a whole bunch of things I don’t know think about
bunch of things I don’t know think about
bunch of things I don’t know think about I just stay away from those so I stay
I just stay away from those so I stay
I just stay away from those so I stay within what I call my circle of
within what I call my circle of
within what I call my circle of competence you know that Tom Watson said
competence you know that Tom Watson said
competence you know that Tom Watson said it best he said you know he said he said
it best he said you know he said he said
it best he said you know he said he said I’m no genius but I’m smart in spots and
I’m no genius but I’m smart in spots and
I’m no genius but I’m smart in spots and I stay around those spots well I try and
I stay around those spots well I try and
I stay around those spots well I try and stay around those spots and I I just
stay around those spots and I I just
stay around those spots and I I just don’t have a problem if somebody says
don’t have a problem if somebody says
don’t have a problem if somebody says you know you’re wrong on something I
you know you’re wrong on something I
you know you’re wrong on something I just go back and look at the facts and I
just go back and look at the facts and I
just go back and look at the facts and I think that I think that really is much
think that I think that really is much
think that I think that really is much more important frankly than having a few
more important frankly than having a few
more important frankly than having a few points of IQ or or having an extra
points of IQ or or having an extra
points of IQ or or having an extra course or two in school or anything of
course or two in school or anything of
course or two in school or anything of the sort
the sort
the sort you need emotional stability
even today is big as Nike is with over
even today is big as Nike is with over 60,000 employees the key key thing is
60,000 employees the key key thing is
60,000 employees the key key thing is people so when you’re starting out
people so when you’re starting out
people so when you’re starting out obviously you’re getting the right
obviously you’re getting the right
obviously you’re getting the right people is that’s life and death and and
people is that’s life and death and and
people is that’s life and death and and then not only the right people by
then not only the right people by
then not only the right people by getting them work together and work for
getting them work together and work for
getting them work together and work for a common purpose I’ve always said to 9s
a common purpose I’ve always said to 9s
a common purpose I’ve always said to 9s working together will be to tens working
working together will be to tens working
working together will be to tens working apart any day how do you do that well
apart any day how do you do that well
apart any day how do you do that well people’s from number one and then giving
people’s from number one and then giving
people’s from number one and then giving them the environment and maybe a little
them the environment and maybe a little
them the environment and maybe a little bit of leadership that allows them to
bit of leadership that allows them to
bit of leadership that allows them to keep doing that important thing is you
keep doing that important thing is you
keep doing that important thing is you have to there’s two sides is really sort
have to there’s two sides is really sort
have to there’s two sides is really sort of the intellectual or mental side you
of the intellectual or mental side you
of the intellectual or mental side you have to pick a business that has a niche
have to pick a business that has a niche
have to pick a business that has a niche you have to have a reason to succeed you
you have to have a reason to succeed you
you have to have a reason to succeed you have to be something like we were doing
have to be something like we were doing
have to be something like we were doing say Japan can beat Germany in
say Japan can beat Germany in
say Japan can beat Germany in manufacturing at this type of a product
manufacturing at this type of a product
manufacturing at this type of a product that was the niche really and then on
that was the niche really and then on
that was the niche really and then on that you just have to have a total and
that you just have to have a total and
that you just have to have a total and complete passion because there’s gonna
complete passion because there’s gonna
complete passion because there’s gonna be so many dark moments you know I think
be so many dark moments you know I think
be so many dark moments you know I think that the dark moments are true for any
that the dark moments are true for any
that the dark moments are true for any entrepreneur any startup company I’m
entrepreneur any startup company I’m
entrepreneur any startup company I’m sure that you talked to Steve Jobs and
sure that you talked to Steve Jobs and
sure that you talked to Steve Jobs and Apple you can see many many dark dark
Apple you can see many many dark dark
Apple you can see many many dark dark moments ours happened to last a little
moments ours happened to last a little
moments ours happened to last a little longer than most of them but you really
longer than most of them but you really
longer than most of them but you really emotionally have to be prepared for
emotionally have to be prepared for
emotionally have to be prepared for those dark moments
those dark moments
those dark moments [Music]
having my travels occasionally met
having my travels occasionally met promising young people insist they are
promising young people insist they are
promising young people insist they are not going to ask for help along the way
not going to ask for help along the way
not going to ask for help along the way they want to figure it out themselves
they want to figure it out themselves
they want to figure it out themselves mine was the opposite approach it is
mine was the opposite approach it is
mine was the opposite approach it is hard enough out there get all the help
hard enough out there get all the help
hard enough out there get all the help you can
you can
you can getting help really just a part of a
getting help really just a part of a
getting help really just a part of a lifelong search for wisdom
lifelong search for wisdom
lifelong search for wisdom [Music]
[Music]
[Music] one of the things I see in new
one of the things I see in new
one of the things I see in new businesses is they’re often looking for
businesses is they’re often looking for
businesses is they’re often looking for perfection and I think this is a really
perfection and I think this is a really
perfection and I think this is a really big mistake I think I think you ought to
big mistake I think I think you ought to
big mistake I think I think you ought to be looking for experiments and and you
be looking for experiments and and you
be looking for experiments and and you know quick experiments and it’s okay to
know quick experiments and it’s okay to
know quick experiments and it’s okay to have little failures and what you want
have little failures and what you want
have little failures and what you want to do is learn as much as you can very
to do is learn as much as you can very
to do is learn as much as you can very quickly and try things and you know
quickly and try things and you know
quickly and try things and you know certainly when we were a small business
certainly when we were a small business
certainly when we were a small business you know we’d go out and try all sorts
you know we’d go out and try all sorts
you know we’d go out and try all sorts of things to find what would work and
of things to find what would work and
of things to find what would work and then we found something work we’ll do
then we found something work we’ll do
then we found something work we’ll do that 100 more times a thousand more
that 100 more times a thousand more
that 100 more times a thousand more times we still to do it today as a large
times we still to do it today as a large
times we still to do it today as a large company
one of the things that people do
one of the things that people do instinctually when there are tough times
instinctually when there are tough times
instinctually when there are tough times is they kind of do nothing and you know
is they kind of do nothing and you know
is they kind of do nothing and you know they they don’t they don’t
they they don’t they don’t
they they don’t they don’t it kind of hunker down this is frozen
it kind of hunker down this is frozen
it kind of hunker down this is frozen rabbits on the head like yeah you know
rabbits on the head like yeah you know
rabbits on the head like yeah you know it’s kind of just just complete stunned
it’s kind of just just complete stunned
it’s kind of just just complete stunned into inaction and I think that’s
into inaction and I think that’s
into inaction and I think that’s actually the worst thing to do I think
actually the worst thing to do I think
actually the worst thing to do I think times when everyone is confused and kind
times when everyone is confused and kind
times when everyone is confused and kind of stunned present you know the most
of stunned present you know the most
of stunned present you know the most enormous opportunity because nobody’s
enormous opportunity because nobody’s
enormous opportunity because nobody’s really doing anything so you know I
really doing anything so you know I
really doing anything so you know I think this is a time where the the seeds
think this is a time where the the seeds
think this is a time where the the seeds of really successful new businesses will
of really successful new businesses will
of really successful new businesses will be created in fact if you look at in our
be created in fact if you look at in our
be created in fact if you look at in our industry which I’m most familiar with
industry which I’m most familiar with
industry which I’m most familiar with you know the greatest companies kind of
you know the greatest companies kind of
you know the greatest companies kind of came out of and were formed in some of
came out of and were formed in some of
came out of and were formed in some of the most difficult times in the industry
the most difficult times in the industry
the most difficult times in the industry when no one was really looking and
when no one was really looking and
when no one was really looking and everyone thought the whole thing was
everyone thought the whole thing was
everyone thought the whole thing was gonna go south all of a sudden and whole
gonna go south all of a sudden and whole
gonna go south all of a sudden and whole new breed of companies you know merge so
new breed of companies you know merge so
new breed of companies you know merge so for example if you look at the you know
for example if you look at the you know
for example if you look at the you know the when Dell was formed in the early
the when Dell was formed in the early
the when Dell was formed in the early 1980s 1984 this was a pretty dark time
1980s 1984 this was a pretty dark time
1980s 1984 this was a pretty dark time in the US economy the personal computer
in the US economy the personal computer
in the US economy the personal computer industry had just gone through a big
industry had just gone through a big
industry had just gone through a big down cycle and the prevailing wisdom was
down cycle and the prevailing wisdom was
down cycle and the prevailing wisdom was that all electronics would be dominated
that all electronics would be dominated
that all electronics would be dominated by the Japanese you know and and that we
by the Japanese you know and and that we
by the Japanese you know and and that we had this big boogeyman called the the
had this big boogeyman called the the
had this big boogeyman called the the you know Japan Inc and that no one could
you know Japan Inc and that no one could
you know Japan Inc and that no one could compete with Japan a
compete with Japan a
compete with Japan a and in especially in something like
and in especially in something like
and in especially in something like computers but turned out to be
computers but turned out to be
computers but turned out to be completely wrong and there you know was
completely wrong and there you know was
completely wrong and there you know was enormous opportunity and huge waves of
enormous opportunity and huge waves of
enormous opportunity and huge waves of productivity were unleashed with the
productivity were unleashed with the
productivity were unleashed with the computer industry in a flourishing
if you really don’t know you know what
if you really don’t know you know what what it means to be an entrepreneur you
what it means to be an entrepreneur you
what it means to be an entrepreneur you know maybe art one you know so I think
know maybe art one you know so I think
know maybe art one you know so I think there’s a bit of kind of self initiative
there’s a bit of kind of self initiative
there’s a bit of kind of self initiative self-starter you know that that is
self-starter you know that that is
self-starter you know that that is incredibly important part of
incredibly important part of
incredibly important part of entrepreneurship no one can sort of tell
entrepreneurship no one can sort of tell
entrepreneurship no one can sort of tell you how to do it you have to sort of
you how to do it you have to sort of
you how to do it you have to sort of have an instinctual feeling or idea
have an instinctual feeling or idea
have an instinctual feeling or idea about about something and you gotta be
about about something and you gotta be
about about something and you gotta be passionate about it and I think people
passionate about it and I think people
passionate about it and I think people that look for great ideas to make money
that look for great ideas to make money
that look for great ideas to make money you know aren’t nearly as successful as
you know aren’t nearly as successful as
you know aren’t nearly as successful as those who say okay what I really love to
those who say okay what I really love to
those who say okay what I really love to do what am I excited about what I know
do what am I excited about what I know
do what am I excited about what I know something about
something about
something about [Music]
”
Be First to Comment