Weaker ties add a fresh element to your network "feed" and expose you to content you'd otherwise never see. People you know well tend to think similar thoughts, have access to the same content as you and generally don't provide much new opportunity.
The best way to strengthen your network is to keep a robust mix of collaborative partners, alliances, likeminded individuals, but also just as important, loose aquaintances. With this discovery, PayPal aggressively targeted this new audience.Ģ. Even after its launch, its popularity among eBay users was a complete surprise. Hoffman shared his early experiences with the founders of PayPal, who originally wanted to develop a payment and encription application for Palm Pilots, and only eventually evolved into a payment system via email. Plan B runs in tandem, and if plan A is no longer working or a new better way is discovered, then a pivot to Plan B can be painless. Plan A is the current implementation of your competitive advantage. Hoffman and Casnocha refer to it is "Plan ABZ". A plan is more like "flexible persistence" - have a plan and a goal, but be prepared to adapt at a moment's notice when circumstances change (and they most certainly will).
Planning isn't like setting up a chain of dominos, pushing the first one and then watching the rest fall. "The Startup of You" identifies three steps to take to expand your skill set and strategies in this new world of entrepreneurship. Hoffman said sees the world of entrepreneurship holistically, referencing Muhammad Yunus's quote, "All humans are entrepreneurs." Even if you never start your own company, you're still the entrepreneur of your own life. This model has become obsolete, he said, and the sooner you can accept it and decide to do something about it, the happier and more successful you will be.
You went to school, got your first entry level job, maybe an MBA and slowly moved your way up to the top. The pair laid out their thinking about entrepreneurship in a packed auditorium at the Austin Convention Center at the South By Southwest Interactive Festival this weekend, drawing from their recent book, " The Startup of You."Ĭasnocha compared the working world the 20th century to an escalator. This mindset is key to success in today's competitive global business environment, according to Reid Hoffman and Ben Casnocha. Did you know you're in "permanent beta"? Everyone is a work in progress, never finished.
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