Other entrepreneurs who think, “Oh, I could do that too” will probably fail. Not because they’re not as good at executing as you, but because they don’t have the secret sauce.
Heard a lot of this growing up. My mom is into food business and once in a while, a competitor pops up. They always ask for advice, try to replicate what she does. She gives her version of these 'vague answers' and later on tells us that they won't be able to replicate the exact stuff because they don't have this 'secret sauce'. That in reality, every entrepreneur, every business has it.
The vague answers make news like work hard, put in the hours, rent instead of buying a house, don’t buy a new car, and never spend 5 dollars for a latte coffee!
Reading about Lambda School and stumbled upon reading this article.
You have to become an absolute expert in what you’re trying to do, enough that you will be able to make money and do so at scale, and that requires an absurd amount of what I’ll call “market research.”
Innovate in ways that seem completely natural to you but seem absolutely foreign to everyone who has been in the industry for 15 years.
And when you talk at entrepreneurship events about how to be successful, give vague answers like “work hard” and “learn fast” and “hire well,” but never, ever reveal the secret sauce.
I want to meet this guy.
Heard a lot of this growing up. My mom is into food business and once in a while, a competitor pops up. They always ask for advice, try to replicate what she does. She gives her version of these 'vague answers' and later on tells us that they won't be able to replicate the exact stuff because they don't have this 'secret sauce'. That in reality, every entrepreneur, every business has it.
The vague answers make news like work hard, put in the hours, rent instead of buying a house, don’t buy a new car, and never spend 5 dollars for a latte coffee!
Interesting. Makes sense.
Remarkable.
Reading about Lambda School and stumbled upon reading this article.