Aspiring entrepreneurs should build a company, not a product
(launching Next, company retreat with early employees)
More important than buidling a product, we are in the process of architecting a company. That will hopefully be much more incredible, the total would be much incredible than the sum of it parts.
I'm convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance. It is so hard. You put so much of your life into this thing. There are such rough moments in time that I think most people give up. I don't blame them. Its really tough and it consumes your life. If you've got a family and you're in the early days of a company, I can't imagine how one could do it. I'm sure its been done but its rough. Its pretty much an eighteen hour day job, seven days a week for awhile. Unless you have a lot of passion about this, you're not going to survive. You're going to give it up. So you've got to have an idea, or a problem or a wrong that you want to right that you're passionate about otherwise you're not going to have the perseverance to stick it through. I think that's half the battle right there.
Focus is saying no to 1,000 good ideas.
The last 10% is 90% of the work
Do you know an entrepreneur-wannabe who is on his sixth or twelfth new project? He jumps from one to another, and every time he hits an obstacle, he switches to a new, easier, better opportunity. And while he’s a seeker, he’s never going to get anywhere.