Top VC Has 5 Trade Secrets Every Entrepreneur Should Know
Ben Horowitz, a partner in one of the most successful VC firms in Silicon Valley — and a rap enthusiast — gave the keynote speech at the Digital-Life-Design Conference in Munich this week and dropped some serious wisdom for all the entrepreneurs out there.
Here are the five key points to keep in mind.
1. Challenge #1: Don’t be your own worst enemy and give into fear. An entrepreneur has to focus on their real problems, not the ones they develop through over-analyzing issues.
2. What’s the best way to succeed as an entrepreneur? Go “all in.” Commit your entire life and survival to your company. That way, you can never quit and must keep going.
3. Innovation is change, new ideas, and might even mean revolution. Big companies view innovative ideas as bad ideas — for entrepreneurs and startups, this is a good thing. “If people thought it was a good idea, then it wouldn’t be innovative.”
4. For an entrepreneur, having courage is more important than intelligence. “Being an entrepreneur tested my intelligence and my courage, but it tested my courage far more than my intelligence.”
5. Technology isn’t good or bad, it’s just there. An entrepreneur’s job is to figure out how to use it to benefit society. However, one trend is clear — we will only be seeing and using more of it in the future. “Fundamentally, technology is a better way of doing things.”