Remember when Netflix came to you via mail in the form of a DVD rental? Those little red envelopes, right? Interestingly, Netflix could have just as easily been a personalized shampoo subscription instead.
We recently spoke with Marc Randolph, co-founder of Netflix and author of “That Will Never Work,” about the qualities of an entrepreneurial spirit. And one of the first things he shared was that Netflix got its start because he simply wanted to sell something on the internet, not necessarily create a video-streaming service.
The most powerful tool in your arsenal is confidence.
Featured Resource: Start-Up Thinking
- Determination. An entrepreneur has to commit to his or her course of action. (Even if your spouse thinks your plan is insane, as in Marc’s case.)
- Optimism. Determination isn’t enough. The most powerful tool in your arsenal is confidence. Your optimism will attract vital supporters.
- The ability to overcome fear. Getting started is often the hardest part of entrepreneurship. (Netflix was Marc’s sixth company, and he still had to put fear aside and begin.)
- Humility. To be an entrepreneur, you have to learn from others. Your own mistakes, too. Learning isn’t always a single moment of inspiration. Rather, it’s an accumulation of insights over time.
What other qualities does an entrepreneur need? Listen to our whole conversation with Marc below or through your favorite podcast player listed at the bottom of this page.