Reid Hoffman, the co-founder of LinkedIn, knows a thing or two about business success. LinkedIn was founded in 2002 and sold in 2016 for $26B USD. Not a bad rate of return for “only” 14 years of work!
Prior to LinkedIn, Hoffman was involved at Apple, started SocialNet.com, and was an integral part of Paypal’s success and its subsequent sale to Ebay. Hoffman knows business so when he shares some of his husiness secrets, we should all take notes!
Recently, he spoke about 11 components to his success on Timothy Ferriss’ podcast (episode 248). Although he calls them commandments of start up success, they apply equally well to any successful business. I have been able to apply each of these commandments in any business that I have been involved with. Doing these 11 things well will definitely accelerate your business!
I have listed each of the 11 commandments below along with my brief commentary on each point.
Reid Hoffman’s 11 Commandments of Start Up Success
Most people know who Timothy Ferriss is because of his books like The Four Hour Workweek, The Four Hour Body, The Four Hour Chef, and Tools of Titans.
However, besides being a famous author and podcaster, he:
- Speaks over 4 languages
- Has won the Chinese kickboxing championship
- Started an online nutritional supplement store
- Is a high tech “angel” investor
- Is a health nut
- Travels extensively
- Routinely experiments on himself with foods, exercise, supplements, diets, culture, etc.
Everyone assumes that he is some sort of crazy savant that has leveraged his strengths to the nth degree and become a kazillionaire doing it. And, there is probably some truth to the “crazy” description but one of the big reasons he is able to do what he does successfully is because of the accelerated learning process that he has perfected.
Ferriss calls this learning system DSSS.
What is the DSSS Learning System and How to Use it
This week’s book review is Tools of Titans by Timothy Ferriss
Ferriss has compiled an extensive volume of advice from an impressive cast of high profile people on topics loosely categorized into health, wealth, and wisdom. Ferriss lives his life like “one big human experiment” and this book captures his experiences while leveraging the collective wisdom of all those who have influenced and impacted his life.
There is a ton of interesting material and wisdom in this book! There will also be some material that you do not find valuable . . . but that is the point of the book. You learn from what you can and ignore the rest!
My takeaway from this book is that I need to take more risks and challenges to grow in more areas. I also need to get a handle on cyber security and how it is impacting me and how it will impact me.