Lessons from Michael Ovitz and Bill Gurley

Building a truly phenomenal business takes a significant amount of time, effort, and consistent hard work. It's essential to avoid looking for shortcuts and be prepared for a long-term commitment of at least seven to 10 years. Authentic passion and dedication are crucial, as faking it will eventually be overshadowed by those genuinely invested. Being obsessive in pursuit of excellence and market domination is exemplified by Michael Ovitz, who built a meritocracy of young, hungry, and ambitious individuals, outworking the competition by a significant margin. Ovitz's success illustrates the importance of consistently being the best at every job, as well as the ability to stand firm and assert oneself when necessary. These insights are reinforced by Bill Gurley's emphasis on the need for genuine determination and avoiding overestimation. Reading Ovitz's book and 'Powerhouse: The Oral History' provides valuable lessons on building a successful agency.