What makes a great entrepreneur? • Hacker News Board

Re: What makes a great entrepreneur?

#11

Post by matwood » Wed, Jan 19, 2011, 5:08 PM UTC

warbee wrote: post #4

A quote that hit close to home for me is one by Calvin Coolidge (I think I read in a comment here on another thread): “Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipoten…

That's a great quote! It ties nicely with others of the same theme. One of my other favorites is:

"There is no failure except in no longer trying. There is no defeat except from within, no really insurmountable barrier save our own inherent weakness of purpose." -- Elbert Hubbard

Re: What makes a great entrepreneur?

#12

Post by acconrad » Wed, Jan 19, 2011, 5:25 PM UTC

To head face-first into the storm when everyone is telling you to stay indoors.

Re: What makes a great entrepreneur?

#13

Post by colindoc84 » Wed, Jan 19, 2011, 5:28 PM UTC

guts desire and passion, wow how insightful.

Re: What makes a great entrepreneur?

#14

Post by cgopalan » Wed, Jan 19, 2011, 5:43 PM UTC

Just my opinion - this article offers nothing new in way of information. Guts, desire and passion are all necessary for the entrepreneurial lifestyle but by no means its sufficient.

Also, while emphasizing the point that entrepreneurs love what they do so much that they dont care about money, the example offered is that Jobs accepts a salary of $1. This is misleading. Would Jobs have stuck with Apple it if his total income from apple was just $1?

Re: What makes a great entrepreneur?

#15

Post by cgopalan » Wed, Jan 19, 2011, 5:46 PM UTC

warbee wrote: post #4

A quote that hit close to home for me is one by Calvin Coolidge (I think I read in a comment here on another thread): “Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipoten…

Definitely is a profound quote. If only I can script it into my brain and internalize it so much that my thinking doesn't get in the way :)

Re: What makes a great entrepreneur?

#16

Post by stcredzero » Wed, Jan 19, 2011, 6:14 PM UTC

Guts is selling everything you own to raise money for your new venture, like Tony Hsieh did. He sold everything (including his loft in San Francisco) — everything that was left from his $40 million exit from LinkExchange

"Guts" make for a great story. However, the smart move would've been to set up a trust as a fall-back with $3 million of the $40 million. (Which may well be what he did, in fact. I don't know either way, and the article is worded to allow for this.)

Better than guts is a clear head. This way, you can see where others have irrational fear and now be swayed. With a clear head, you can take calculated risks. With a clear head, you can see the true value of the transaction.

Muhammad Ali's use of "Rope-a-dope" in his victory against Foreman looks like the stereotypical, stirring, "hero gets beaten up badly, but comes from behind" twist at the end of an action movie. In reality, it was the result of cool calculation and masterful, calm execution.

http://www.imdb.com/title/tt0118147/

Re: What makes a great entrepreneur?

#17

Post by auxbuss » Wed, Jan 19, 2011, 11:52 PM UTC

warbee wrote: post #4

A quote that hit close to home for me is one by Calvin Coolidge (I think I read in a comment here on another thread): “Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipoten…

That would have been me, although I attributed it to Ray Kroc (McDonalds) and was corrected.

I came to this thread to simply say "persistence", and had a wry smile seeing this at the top.

Of all the thousands of pithy statements I've read over the years, that one has stuck around and served me well for over two decades, probably three now.