All my life I have wanted to be an entrepreneur but while I started a few companies, they all failed.
Over the years I have heard here and there various versions of "Attitude is more important than knowledge" and each time I was furious, since I have invested a lot of time and money into acquiring knowledge. Alas I am starting to suspect that I was wrong all along.
While "some" knowledge is essential in business, "attitude" triumph knowledge when it comes to entrepreneurship, and business in general, by orders of magnitude.
So, what does HN think?
And how can I leverage my wealth of knowledge to become a successful entrepreneur?
Most “know-how” technical knowledge—what I assume you’re referring to—is like having a set of solid well-known tools in a toolbox. Useful, but you still need to figure out what to use those tools to do.
Many highly-educated people believe they can think their way into a business, in the style of “build it and they will come” — not a useful attitude.
Instead, try “how can I figure out what people’s real problems are, problems they’re willing to pay to have solved” — a more useful attitude. It requires you to talk to people, find problems, and only then bring your existing technical toolbox to bear in prototyping, etc.
Credentials and a network can get you in the door, to reach those people with problems and enough money to pay someone to solve them. Having your own money gives you more retries.
Money and a network also let you hire people with their own toolboxes, changing what tools your personal toolbox needs to contain.
A toolbox alone, without the knowledge of what to build, is just a box full of junk — or worse, full of shiny toys that distract you from creating value.
Attitude and knowledge are complementary.
But also, putting oneself through higher education later in life takes some grit and perseverance. Having started "a few companies" demonstrates some real willingness to take risks, and a continuing entrepreneurial drive. This whole conversation shows some amount of introspection, self-knowledge, and a desire to learn and grow. Is that not the right attitude?
Success is dependent on so many factors, the most important being your connections. I've seen many smart developers fail in their businesses, while a well-connected sales guy sold an app via powerpoint slides until he got enough money to hire a couple developers. The sales guy is now worth millions.
In my opinion for success, you need a good network, money to burn, knowledge, and then attitude. The variables affect each other a bit though.
If you have a good network, ALOT of money to burn, and a little knowledge you will probably be successful.
If you have a good attitude, good knowledge, no money, no network, then you will probably fail. At least the knowledge will help you get 9-5 job.
There are many people with entrepreneurial attitudes who fail because they don’t have the necessary skills to execute and they can’t (or won’t) hire and lead people who can execute.
There are many smart people who fail in their careers because their attitude gets in the way of working with others or delivering results. This can be anything from deep cynicism about the workplace to being combative with others or even simply being an unpleasant person to be around.
We like to glorify the idea of lone wolf programmers using their extensive knowledge to deliver everything by themselves, but the reality is that businesses are all about people and teams. Knowledge is part of the foundation, but interpersonal skills and leadership abilities are necessary to actually leverage those skills. People who have a lot of knowledge but who can’t execute or work well with others are really just critics operating from the sidelines.
If you're good at selling, you spend a lot of time doing it, and you do it at a profit, your business will almost always succeed. You'll be making money which you can throw at any problems that come up.
This isn't to say that nothing else matters at all. For example if you have the skills and knowledge to create a great product, that's useful. But at most what it will do is amplify the results you get from the core activity of your business.
Which is to sell things. All the rest is useless if you don't sell.
You want to stack as many unfair advantages as you can. Attitude and knowledge are among those. Some folks have other unfair advantages over you, and you’ll have to work harder to compete than they would. That’s why they’re called unfair.
I was a good programmer, but my core computer science competency was weak. Really weak. However, I was able to land a gig at a very technical company with lots of computer science problems because I had the attitude I can learn anything.
You can learn anything, but you can't learn everything. And you need the right knowledge base to learn effectively. After that, attitude can take you a long way.
I asked someone the other day if he met a lot of people who he seemed a lot smarter than, and if he had to spend a lot of time explaining his ideas to others. When he answered, "yes," I asked whether he had considered that he had to spend so much effort explaining his concepts was because he was an objectively terrible communicator? If explaining my ideas is hard, it's possible that's because I just suck at explaining them, and not that they are so amazing nobody can understand them. If I thought people who didn't understand me were clearly just more evidence of my superior intellect, you'd think I was insane.
I've had a punk-ass attitude for most of my career, and at the root of it was feelings of being an impostor because I relied almost exclusively on my knowledge (security) and intensity (consulting). What's changed is I have developed what I call a "fearless ignorance," which is that I share what I know as openly and efficiently as possible, while treating points where I have gaps as an opportunity to create openness on the teams I work with by asking the questions that reveal my often humbling ignorance.
Nobody owes me an explanation of anything, but I don't worry about who it bothers because I'm merely ignorant, not stupid. Knowledge is valuable and I respect competence above everything else, but it's also just temporary leverage. So I'd bet on attitude every single time.
You don’t have to be that smart to be successful in life. You do have to have an attitude of placing the next brick to create something of value.
Your wealth of knowledge is your unfair advantage. But your attitude is what will put that into action in the first place.
> Give a boy a purpose and determination, no matter how poor his chance, and you will hear from him.
> Good fortune consists of untiring perseverance and a right heart.
- Orison Swett Marden
(Please note I’m about to make some generalizations and simplify some complicated things. Please read the following in good faith, grain of salt, etc.)
Having also grown-up poor with parents who only finished high school, and one barely at that, my worldview was one of scarcity and viewing education and success with suspicion. I’ve since changed that. But you can see how that worldview would hobble someone who’s trying to create a successful business.
If someone’s worldview was that there’s always enough, and success is inevitable given enough effort, luck, and help, they would never give up. They would happily gain whatever knowledge and skills were necessary because they knew they would succeed.
Is it possible that your worldview is hobbling you? Or, success includes luck and maybe you’ve just been unlucky.
You need both to succeed, but it's much easier to teach the knowledge.
Attitude to me is complex because it is general manners and politeness, which to me are mandatory, but it is also attitude to culture and people don't always fit. If you are wired to move fast and break things, you won't have the right "attitude" to work somewhere with high compliance requirements.
"Sell something that people want" is how Paul Graham puts it but with a bit more flesh, I would say that being successful in business is about being able to evaluate all moving parts of a company, see what isn't working and fix it.
If you are not getting leads in the door, there is an issue with marketing, that you should understand might relate to the person in the role or the lack of resource etc. even without understanding much about marketing.
If you are not making money, the product is not valuable enough to people or you are not selling it for enough money. How can I find out what it is worth? How can I evaluate whether this product is worthwhile? You only need to see the questions and work out where to get answers, you don't always have answers yourself.
Lastly, any business is about people and you need to be self-aware and confidant enough to not take things personally, to confront things that need confronting, to evaluate candidates effectively and to sometimes tell people to p*ss off.
Most successful business people I have met are fairly tough to the point of seeming uncaring so that probably says something about the reality of running a business!
I think it's probably best to take this saying with a grain of salt. Is attitude important? Definitely, in the context of team cohesion and morale, but you don't want a bunch of dunderheads on your team no matter how loveable they are. In terms of business leadership I'm iffy on how much a good attitude can do for you in lieu of experience and knowledge.
Sales; knowledge rarely helps here, attitude, being able to read people, knowing people, knowing how to make people want your solution to their problem. Being able to handle rejection over and over (those first 10 legitimate paying customers can be tough)
Software development; knowledge is important for a proprietary technology (a search/data algorithm) but most web technology projects aren't top secret. Knowledge might help much more at a defense think tank. But for non proprietary stuff, attitude is important because you want to connect with the business use cases, you'll likely have to do "stupid" stuff for repeating obvious solutions.
Executive; much more in line with sales; attitude is important; many other people have knowledge here and your job is to choose the one that you sell to your customers, employees, and executives.
--- Otherwise, "ignorance is bliss", attitude will help you much more than knowledge in life.
The good news is if you put enough time into something, those key components emerge.
In a way you also need to listen to people but not listen, and know when to do that. New ideas will be pushed back against, following the existing successes will always be encouraged, but the latter is a form of survivorship bias, FOMO and buying in at the top. If you know something is there and others say it isn't, you might have something. Additionally, if it is already done, doing it better is another way to create value.
So yeah, attitude in pushing through against headwinds is key. Don't always listen to the critics, but take it in, it is a balance and one that everyone battles in most things. Grounding down the fluff/hype into a good plan with results takes all those things.
Entrepreneurship is mostly about being able to manage your resources well, strategizing, risk taking, forming connections and hiring the right people.
> And how can I leverage my wealth of knowledge to become a successful entrepreneur?
This is the wrong mindset. You just cannot, unless your knowledge is entrepreneurial experience. You have to become an entrepreneur and stop being an employee, if you indeed want to be an entrepreneur.
From my previous work (when I was a Manager), I know a 98% attitude dude who is deep roots into the post and cannot be fired. No one wants to fire him, he's too loyal to the company; but he's also very hard to work with technically-wise. He just doesn't have it, he sometimes screws up a simple upload CSV file procedure, and his mistakes have costed several thousand dollars over many months to the company he works for.
The political cost of firing someone like him is just too high for any Senior Manager there. He is regarded as a force-to-be-reckoned-with in terms of cultural fit, but on the financial sheets, he's just deep into the hole.
You can always skill up some technical knowledge you might have, but attitude is hard to build. However, no extreme is good, as you put it by being over-educated.
I find understanding people and effectively communicating essential skills in business. Also I think starting a business is different from running a successful established business, which is further different from running a large corporate entity. But in all of them you have to have a vision for where the company should go. Your idea should be something people need/want/don't realize they want. You have to be able to outline what's important and be able to get that out of others. You can't do it all yourself.
Though I don't think I'd call those interpersonal relationship skills "attitude".
I'd start there, because if such a simple statement makes you furious, I can only imagine what your reaction (attitude) is in scenarios an entrepreneur might find themselves in.
Yet, most of the time, it seems to be a combination of both but it does not stop right there. Being knowledgeable and having the right attitude for sure helps, but there are other factors such as luck, timing, location, having the right team or people around you, and a lot of uncertainties.
There is no silver bullet for this question. Becoming a successful entrepreneur is more of a process which will vary for every people.
The real thunderbolt for entrepreneurial success is to use your worldly knowledge to reason your way to a rational business position that the market doesn't know, can't easily replicate/discover and can't survive without. Usually these are setup over decades of research, like neural networks were.
If you have that bolt of divine logos, the relationships and good attitude types have no choice but to follow you otherwise they'll walk themselves out of the market. We haven't seen a lot of those lightning bolts in the past couple years. Being paid to relate your knowledge can be a good second place.
Attitude is the right and wrong word. If you understand what this means, you get it. Someone who doesn't get it, can't figure it out because of the word attitude. this is the same problem as the 'people skills' or 'soft skills' sayings.
Want a book to jump start you? How to win friends and influence people by Dale Carnegie(1936)
In terms of your primary question though. I imagine "attitude" and "knowledge" as but multiple sliders from many sliders/traits in your character sheet. Who is to say what is better or not.
If you want someone to pay you, you have to solve a problem for them that is beyond their current resource limits to solve themselves. They likely have a strong clue as to the nature of the solution. They certainly have all the domain knowledge as to the pain points and inefficiencies they are currently suffering.
You have to make yourself a student of their problem, let them teach you the nature of the situation... and fight the urge to solve it. There are likely ambiguities between what they meant and your perception... and these must be found. Restating what you heard in new words can help... "Let me explain it back to you, and tell me if I've missed something".
Your job in support is to route around the vocabulary, knowledge and world-view differences between you. Example from my tech-support days:
Q) Have you installed anything lately?
A) No
Q) So, you don't have any new things you can do with the computer?
A) Oh yeah, I've got this thing that lets me do X
Why did that happen? You install a car stereo... at the time (1980s) it (install) wasn't a common term... they hadn't opened up the computer, thus didn't think they'd installed anything.Those are some of the things it's your job to route around.
If you can do that, and keep in mind the computer is a tool, in service of a job, and nothing more... you might be humble enough to do support, learn the pain points people have, and then apply the actual other skills you've spent so much time and energy acquiring, to solve their problems for their money.
I have ZERO idea about how to deal with fund raising, etc... I just know how to relate to users in a kind and effective manner.
This whole answer was based on my guess of the nature of the brick wall you've been hitting... and I fully admit I could be completely off the mark.
If you invest time in learning things you can't apply, that may seem unprofitable to you. However, if your attitude inhibits learning, whatever fortune does befall you may as well be useless.
But I think "attitude" here is code for the unreasonable optimism that keeps one trying again and again despite repeated failure. It really seems intended as a religious tenet of faith to replenish the entrepreneurial spirit.
That's why you need both. You also need someone who's honest and will tell you which one you should be working on. It's a mistake to work on one to the exclusion of the other. Keep them in balance and you'll go far!
And being furious is not really a replacement for luck.
Entrepreneurship is a distinct skill that's different from being an engineer; or even being an administrator in a business.
You can start a business around your knowledge; just assume that using your knowledge is going to be 1/3rd of your day-to-day activities. The rest of the business is going to be doing things that are probably unrelated to your knowledge.
You can be the world's leading expert at something, but if you don't have the motivation to build something that people want to buy, you won't succeed. And if you're a jerk to your customers, they'll find someone else. Same with employees if you start to grow. And so on, and so forth.
You need both for both academic and entrepreneurial work.
Another thing to mention is skill. Skill is not attitude or knowledge. It is the result of practice. I think a collection of skills is of very high importance too.
Maybe more than knowledge for entrepreneurs? I think so.
Attitude is needed to turn fail into more skills into try again with better odds.
Find the balance. Not out there. Find it… In there.
"Justice without power is empty, power without justice is violence. To be strong to protect yourself and others is your goal."
They overthink by planning everything when in reality you need to be like a roach (keep going) with a touch of naïveté.
(Actual percentages may vary, because I left the math to smarter people than I.)
knowledge, not as much. i started a house framing business without knowing everything i needed to frame a house. but i hired someone who did. and because of my attitude, they like working for me, and are productive.
my attitude also helps me sell my services to builders. and build goodwill. early on it was apparent that i didnt know everything, and i never tried to hide that from my customers. but i did demonstrate enough knowledge that it was apparent i knew how to run a business, and who to hire.
Attitude plus zero will to work to learn and no prior experience is a total disaster.
I was listening to a podcast the other day and something caught my hear: the difference between a VP and a C-level is that the C stands for confidence.
Except in so far as people skills benefit from particular attitudes, forms of intelligence, and practical knowledge.
Grit, creativity, and int stats are what matter the most
Never. Never. Never give up
Anything is possible. We sent a man to the moon with kbit computers
Any answer is correct and wrong at the same time. Depending how you look at it.
- Richard Hamming
knowledge is the reason why asia is rising again
a good entrepreneur is a good manipulator, a good liar and a good seducer
are you willing to trade your knowledge to become someone like that?
use your wealth of knowledge to find people like you and build nice things for your surroundings
but more importantly, do what you like, don't chase people for their attitude, look, they are already trying to sell you something and you fell for it