One of the phrases I frequently look for is infinite learning curve.Because each entrepreneurial pattern is to some degree unique and new. Reid Hoffman More Quotes by Reid Hoffman More Quotes From Reid Hoffman I actually think we need to put our energies, as entrepreneurs, as technology inventors, as government, to being much more inclusive. I think the key thing is actually working together. Reid Hoffman entrepreneur technology thinking When thinking about how to deploy kind of professional and social networking into your business, it's really not a question of if, it's a question of when. And the reason is, just think about the fact that those businesses that adopt new technologies to operate efficiently and use them to get a competitive edge are the businesses that in fact, you know, it becomes one more competitive advantage. Whether it's a fax machine or a mobile phone or a new way of doing financing or any of these things, you know, these are key things to do. Reid Hoffman phones technology thinking Boom and bust cycles are very difficult for businesses because you're hiring a bunch because you're planning for the future. And if the future is going to be very big, you need to hire people, or suddenly you go to boom to bust, then all of a sudden, you're kind of battening down the hatches and trying to sail, you know, through the storm, it's a different thing. So part of it is making good decisions about, well, how long is a boom cycle going to be, you know, don't plan on it going forever. Reid Hoffman decision long people Make sure a certain percentage of the people that you're hiring are generalists so that you can be, kind of reconfigured in the workforce pretty easily. Reid Hoffman percentages be-kind people Probably the biggest mistake that I made personally is I knew early on that I wanted to go into start-ups and creating kind of software that could help change the lives of millions of people. And basically what I did is I kind of went, okay, well, I need a set of titles and I need a checklist of skills, and I ran through all that, and that wasn't a useless thing, but what I didn't realize, and, you know, and no one gave me the right advice for doing this, is that actually your network, in essentially, is your career. Reid Hoffman useless-things skills mistake Most of the ethical dilemmas that I have faced have all been in the category of, you know, I know something and what's my obligation to disclose it. So, for example, you see people make a mistake in the contract that you're making between the businesses and do you disclose it or do you reveal it? And generally speaking, the way that I solve these is I kind of go through a list of, you know, what's the most, what are the obligations and constituencies and in what order? Reid Hoffman mistake order people Giving birth to something that could possibly change the lives of millions of people for possibly decades, hundreds of years, whatever the length of time the run is, is a great feeling. Reid Hoffman running people years When you turn a company profitable you've gone from a company whose days are numbered to a company whose days can be infinite. Reid Hoffman turns infinite gone I don't normally think of like most successful moments, because like most entrepreneurs, I tend to think that however how high of a mountain I've climbed, I'm always looking at the next mountain to climb. Reid Hoffman entrepreneur successful thinking My greatest influences are actually probably a set of different teachers. And these teachers, most prominently at my high school, but also a few others, helped kind of instill in me, thinking thoughts about how life is meaningful in terms of how we all kind of live in a network of people and how you interact with those people is part of what makes life essentially meaningful and then kind of concepts to think about, how do you add value to other people's lives? How do they add value to yours? And how do you kind of form a community together in the network? Reid Hoffman teacher meaningful school [Hillary Clinton] is also smart, she talks to people, she hears, and she says, "OK, I need to update, we need some much bigger changes." Reid Hoffman smart people needs [Hillary Clinton] is part of the establishment, and that's good for foreign policy and for understanding the ongoing health care system. Reid Hoffman ongoing care understanding I think Hillary [Clinton] hears the anger in a broad swath of the American people, and she says, "OK, how do I help create a future that's good for you?" Reid Hoffman helping people thinking I think Hillary [Clinton] has [woken up to the plight of the middle class] and is working toward it in a democratic process. Reid Hoffman plight class thinking The thing that changes your professional life, your capabilities, your learning, your understanding, your opportunity flow, your ability to make things happen, is the center relationships you have with powerful and effective people around you in the industry, in the activity that you want to be doing. Reid Hoffman powerful opportunity people I was never given this advice, people aren't given this advice, focus on growing and maintaining relationships for your network, and that's key. And most of the advice tends to be, you know, discover your strengths, build up your resume, get a title, all of that stuff pales in comparison. Reid Hoffman focus keys people One of the really key things to look at in terms of crafting strategy when you're in an economic crises is how do you maximize essentially your liquidity position? Your ability to both take kind of profits and revenues and business and then convert that into a stronger lead. And so those companies that can do that can actually, you know, get a march on their competitors. Reid Hoffman stronger keys looks The key thing that I find that when you're kind of in boom times and you're hiring bunches, if you can hire, you know, always maintain very high standards and even if you, you know, can't find enough of, you know, what is typically called A players, then don't hire the people. All right? So, you know, use that as a way of standards. Reid Hoffman keys player people Because in our boom times, everything is growing, usually, you know, the kind of things that come to mind are Wild, Wild, West, or land grabs, you know, these sorts of things, in order to make something, you know, kind of to grow into the future and to get all the growth that you need to have. So you tend to hire a lot because you're running fast to the future. Reid Hoffman land running order Companies hire a lot during boom times because they're trying to adequately accelerate into the future. Reid Hoffman accelerate company trying
