Jeff Hoffman, Co-Founder, Color Jar
Never As Smart As You Think You Are: Personal shortcomings are something you need to get over fast and come up with a plan of action. The list of things you do know will be a whole lot shorter that the list of things you don’t know when delving into the world of entrepreneurship. Hire the best people to perform those tasks and get out of their way.
Go Big Or Go Home: Success can come by using this philosophy in two ways. Dedicating yourself full-time to an idea increases the odds of success because the focus is on the task at hand. Secondly, no paycheck and the freedom that affords is a big risk, but it will make you pretty darn motivated to create value in the world.
Social Media: The way people learn about and buy products and services has completely changed through social media networking. One of the most simple yet most dramatic change is you don’t sell to most people anymore, they buy. It is a completely different paradigm and Jeff tells us that if you are not taking the time to understand this new trend of consumerism you will be left out in the cold.
Social Conscience: The new generation of buyers actually cares about how and who you do business with. They are buying more than just your product; they are buying how you behave in the world. New up-and-coming entrepreneurs are also taking their own stance, with many committing to giving back a percentage of earnings before they have even made a dime.