
Bonus: The 10 Commandments of Startup Success w/guest host Tim Ferriss
Masters of Scale
A successful entrepreneur seeks rejection
The best ideas often appear laughable at first. Entrepreneurs must expect to hear a chorus of no's as they get started and must condition themselves to deal with rejection. Rejections can actually be a good thing, especially in the beginning, as it indicates that the idea is contrarian and has the potential for success. The creation of something big requires the initial space provided by being contrarian. However, it is important to differentiate between a bad idea and a bad-sounding idea. Feedback should be interpreted by paying attention to the quality, not the quantity, of rejections. A successful entrepreneur should aim to get at least a few investors to feel uncomfortable and reason their way to a no. This indicates the potential for success and transformation from an ugly duckling into a swan.