Check out Naval’s Episode Page & Show Notes
This podcast clip is part of a conversation between Naval Ravikant (@naval) and Babak Nivi (@nivi). Unless otherwise noted, quotes are from Naval. For reference, check out Naval’s famous How to Get Rich tweet storm.
- 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