A Couple of Entrepreneurial Lessons by Reid Hoffman

Hoffman is an American entrepreneur and published author. Most people know him as the co-founder of LinkedIn, a site that is considered as the Facebook of recruitment. His platform is useful when it comes to getting new business connections and job searches. The seasoned business magnate was born in late 1967.

He attended The Putney School and later joined Stanford University, where he graduated at 23. In 1993, the CEO acquired his master’s in philosophy from Oxford University. He has always envisioned creating something big that would help to make the world a better place. Hoffman realized that his education would be helpful, but of more importance was his entrepreneurial career.

As a result, he decided to join Apple Computer after his graduation. He attempted to develop a social network during his tenure at the organization. Reid created eWorld, which was acquired by AOL after a few years. He later moved to Fujitsu before establishing a dating site called SocialNet.com. Although it was a unique idea, it was not viable at the time.

During this time, he was a member of the board at PayPal. In 2000, he left his startup and became the Chief Operating Officer at PayPal. In a few years, he got a promotion to work as its vice president. He partnered with two of his business associates to create LinkedIn in 2002 and launched it a year later.

The platform gained global recognition for being one of its kind. With time, it has attracted hundreds of millions of users, where a significant percentage are monthly active users from different parts of the globe. As a LinkedIn user, you can make a list of people with their personal information on “Connections.” Some people refer to it as one of the world’s best social networking platforms for business professionals and job seekers.

At first, he served the organization as the CEO and later became the Chairman and President of Products. In 2009, he was appointed as the Executive Chairman. When the sale of PayPal to eBay was completed, the business magnate became one of the most successful entrepreneurs of Silicon Valley.

He has invested in many successful entrepreneurial ventures, including Wrapp, Flickr, and IronPort. Reid loves attending the World Economic Forum and lectures at several globally-recognized educational institutions, including MIT and Harvard. His contributions and exemplary achievements have earned him prestigious awards.

In 2011, he was recognized as one of the youngest entrepreneurs in the U.S. Reid Hoffman often offers valuable entrepreneurial tips to upcoming entrepreneurs. One of the things he urges them is to do is to be as disruptive as possible. Your ideas should be massive and different enough to revolutionize an industry.

One of the platforms he believes had a massive impact in an industry is Skype, as it eliminated the need to pay high phone charges during communication. According to Reid Hoffman, an entrepreneur should always aim high as small ideas may require the same amount of resources as big ones. He also believes that many young entrepreneurs tend to fail because they fail to understand the importance of networking.

Recap from: https://edition.cnn.com/2020/10/19/business/reid-hoffman-business-election/index.html

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