The Naval Podcast – There’s No Actual Skill Called “Business”

Check out Naval’s Episode Page & Show Notes

This podcast clip is part of an ongoing conversation between Naval Ravikant and Babak Nivi. Unless otherwise noted, quotes are from Naval. For reference, check out Naval’s famous How to Get Rich tweet storm.

Key Takeaways

  • Business school is mostly a waste of time
    • You’d probably be better off studying game theory, psychology, and logic
  • Doing is faster than watching
    • You’re going to learn a lot more about running a business by actually operating your own business, compared to just reading about how to do so
  • “The number of iterations drives the learning curve”
    • Your speed of learning a field more so depends on iterations, not the hours you put in
    • For example – If you own a small business, constantly be experimenting – don’t just do the same thing over and over and expect to get good at business
      • Change the sign, experiment with social media, change the hours you’re opened etc.
    • “The more iterations you can have…the faster you’re gonna learn”
  • Get comfortable with frequent, small failures
    • “If you’re willing to bleed a little bit every day, but in exchange you win big later, you’ll do better”
      • The crowd is after the reverse – frequent, small victories (don’t be the crowd)
    • Entrepreneurs bleed every day and they’re constantly stressed, but when they win, they win big

These notes were edited by RoRoPa Editing Services

Bookmark