00:00:26.560Now, a lot of people talk about passion.
00:00:28.640You have to be passionate about your idea.
00:00:29.760I mean, growing up, my dad always said, you know, if you could only find something that wasn't going to get you in trouble that you're passionate about, you do wonders in the world.
00:00:38.020When I discovered technology and writing code, my life changed.
00:00:42.180But the key for building a business with passion, the best story or answer I've ever seen on why it's important was from Steve Jobs at a conference.
00:00:50.860You know, when he was explaining this, he said, you know, the one thing that every entrepreneur needs is passion.
00:00:55.300Not because it's important or, you know, if you don't love what you do, etc., etc.
00:01:01.900It's passion because when everything else gets super hard,
00:01:06.480when the rest of the world is pushing back on you not to want to change,
00:01:11.720when it just feels like it's impossible to move forward,
00:01:15.340it's because you are passionate about your company that you're going to push through.
00:01:20.400And by pushing through is the reason why the company eventually goes on and is successful.
00:01:26.100He says, without passion, any sane person would have given up.
00:01:30.420And I love the way he frames that because it's such a requirement to build an amazing company.
00:01:35.840And that's what I've seen in all great entrepreneurs.
00:01:38.360On top of passion, the thing I've seen is they all use their own product.
00:01:55.860If you are building a product and you aren't a user, you've moved away from, because most
00:02:01.920companies are started because the entrepreneur had a problem and he wanted to solve it.
00:02:06.620If you've moved away, if you started off building a product for your own problem and you've
00:02:12.880evolved and evolved and all of a sudden now you find yourself no longer using your product,
00:02:18.700that's a big red flag think about it like you I see this happen all the time
00:02:25.540where entrepreneurs pivot out of their passion for the product they end up not
00:02:30.580being a user they don't get feedback anymore I mean if you started a healthy
00:02:36.140chain of restaurants and all of a sudden you catch yourself eating crap like
00:02:39.940McDonald's and Burger King and all this fatty crap you have no context to who
00:02:46.320your customer is if you're trying to do this like super healthy organic thing right so try to
00:02:51.840reconnect with that but that is one of the traits that i've seen all great entrepreneurs have is
00:02:56.400they're they're they're like ridiculously passionate and maniacal about product and their
00:03:02.480own product and then the third thing that i've seen in all great entrepreneurs is they're all
00:03:08.400working on really hard problems and i don't mean to scare you if you're not one of those people
00:03:14.400that you don't feel like you're trying to change the world or you're not trying to solve some crazy, you know, medical challenge or technological challenge.
00:03:24.400But again, I'm talking about great entrepreneurs, not mediocre, not good, not okay.
00:03:29.880I'm talking about world class, game changing, change the world, leave a dent in the universe kind of entrepreneurs is the problems they're solving are really freaking hard.
00:03:42.280Think about this, Elon Musk, SpaceX, rocket ships, sending rocket ships into Earth.
00:03:48.980Tesla, the first profitable electric car company, started with electric car.
00:03:55.780One of the first new car companies to launch in the United States in over 50 years.