If Twitch had existed when Reid Hoffman was 12, you might have been able to witness a future billionaire honing his business skills in real-time.
An avid gamer, Hoffman was drawn to fantasy role-playing games like RuneQuest.
He was fascinated by the concept of creating a world and engaging in what could be considered an early version of a metaverse, where collaboration, missions, and problem-solving were essential.
His passion for Avalon Hill board games taught him strategic fundamentals that he still applies when advising entrepreneurs today.
“When I talk to entrepreneurs, I often use the metaphor of ‘What’s your theory of the game?'” Hoffman explains. “It came from my 12-year-old self who was so obsessed with games.”
Little did he know that his gaming obsession would lay the foundation for building companies like LinkedIn and PayPal, as well as investing in others like Airbnb and Coupons.com. He is also the creator of the popular podcast Masters of Scale.
So, how does a man prepare to build two companies that sold for over $27 billion combined?
Easy.
By studying philosophy, of course.
…
Reid Hoffman’s 3 Tips For Startup Success
Reid Hoffman knows a thing or two about building revolutionary companies. He was the founder of LinkedIn and a founding board member of PayPal, two companies that have helped shape the world today, selling for over $27 billion combined.
But Hoffman also understands failure. Before becoming a key figure in Silicon Valley, he faced setbacks with his social media platform SocialNet. Here are his tips for startup success based on his experiences:
1. Take Smart Risks
Hoffman encourages taking smart risks, particularly those others are unwilling to take because they seem too big. He believes this approach leads to extraordinary results.
2. Build Your Network
Hoffman emphasizes the importance of building a strong network of partners, alliances, and acquaintances, especially before seeking investments.
3. Be Stuck in Permanent Beta
Hoffman advocates for constant learning and adaptation, remaining in a state of “permanent beta.” He stresses the need for perseverance and grit to push through tough times, ultimately creating something remarkable for the world.
Source: ( foundr.com / Financementality.com )
