A Quote by Eric Ries
Entrepreneurship is not really building a product, it's not having an idea, it's not being in the right place at the right time. It's fundamentally company building.
Quote Topics
Quote Author
Related Quotes
9/10 startups fail, which is a harsh reality in the world of entrepreneurship. However, I believe that such a high number of startups fail because they do not take the right steps necessary when building their business. The biggest challenge people have is building something that their target audience or niche really wants.
There is a common and persistent belief out there that entrepreneurship is about creativity - that it's about having a great idea. But it's not, really. Entrepreneurship isn't about creativity. It's about organization-building - which, in turn, is about people.
Building a product is easy. But building the company that builds the product is hard.
Sometimes success means having the right idea in the right place at the right time. Other times, it's about not being afraid to quit and move onto something new.
I was honored to start a small business and to borrow an enormous amount of money and to build piece upon piece, place upon place, building upon building and product upon product, throughout the United States and eventually Europe and facilities around the world.
As the company grows and about this 25 or so employee size, your main job shifts from building a great product to building a great company.
The largest expense in our philanthropy is capital expenditure because we are building these institutions. This institution-building idea stems from my father because he has the experience of building a company from scratch.
The big thing is, everybody says it's being in the right place at the right time. But it's more than that, it's being in the right place all the time. Because if I make 20 runs to the near post and each time I lose my defender, and 19 times the ball goes over my head or behind me - then one time I'm three yards out, the ball comes to the right place and I tap it in - then people say, right place, right time. And I was there *all* the time.
Well, I work out three to four times a week, in a gym, which - thank God - is right in my building here in New York City. It's in the Reebok building, and it's got every kind of weightlifting equipment you can imagine, spread out over six floors, plus basketball courts and everything else. And because it's right in the building, there's no excuse.
I've never looked at a suburban building as being a minor building and an urban building as being a major building.
Building product is not about having a large team to manage. It is about having a small team with the right people on it.
It occurred to me that building a company was the best way to align a group of people towards building something great. And its really... it's a good organizational structure where you can really reward people. If they're building something that's good, you can you work with partners and reward them if the product that you're developing work well. It's a good way to get the best people involved to build something very good.
Trump's act of construction is not building a building. It is building the meaning of the name "Trump." Because his revenue really comes from selling his name to people who do actually build things. They pay enormous sums of money for the supposed privilege of being associated with the name Trump or the name Ivanka, because of that image construction. That's why it seemed like a good idea for Trump to run for president in the first place.
Change masters are - literally - the right people in the right place at the right time. The right people are the ones with the ideas that move beyond the organization's established practice, ideas they can form into visions. The right places are the integrative environments that support innovation, encourage the building of coalitions and teams to support and implement visions. The right times are those moments in the flow of organizational history when it is possible to reconstruct reality on the basis on accumulated innovations to shape a more productive and successful future.
Blitzscaling is what you do when you need to grow really, really quickly. It's the science and art of rapidly building out a company to serve a large and usually global market, with the goal of becoming the first mover at scale. This is high-impact entrepreneurship.
They say the secret of success is being at the right place at the right time, but since you never know when the right time is going to be, I figure the trick is to find the right place and just hang around.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman