Why You Should or Shouldn’t Choose Entrepreneurship

Have you ever asked yourself, “Am I really cut out for entrepreneurship?” Honestly, most of us have. While entrepreneurship seems to be synonymous with freedom, independence, and designing your destiny, being a successful entrepreneur takes perseverance, humility, and is a lot more than what meets the eye. This week, our guest is Jeff Hoffman, the inventor of the airport boarding pass kiosks, Billionaire co-founder of Priceline, worldwide motivational speaker, and bestselling author. He now dedicates his life to helping people around the world, like you and me, truly reach their dreams.

In our interview, Jeff discusses his work teaching entrepreneurship around the world. He incorporates his journey and goes on to talks about the important traits a business leader must have, and why entrepreneurship may or may not be for you. Finally, he speaks about scaling a business and how leaders can be more agile in a fast-paced world.

Tune in now and get inspired to be the best entrepreneur you can be. Listen and enjoy!

Transcript

[00:01 – 07:56] Opening Segment

My takeaways from this episode with Jeff Hoffman
An insightful look at Jeff’s journey
The value of hard work; How growing up with a single mom taught Jeff the importance of perseverance
Dream big, work hard, create value
Why these 3 things are the matrix of building a successful business

[07:57 – 18:14] Why You Should or Shouldn’t Choose Entrepreneurship

The two reasons why entrepreneurship is so important
Independence and freedom
The ability to design a positive future
Who entrepreneurship is not for
Entrepreneurship is not for people who are risk-averse and lack confidence. Entrepreneurs go into their ventures with confidence, knowing that there is always a chance of failure. If this thrills them rather than scares them, then they have the right risk profile for entrepreneurship
Can you change your appetite for risk?
The red flags of a reckless entrepreneur
Uncoachability
Inability to take accountability

[18:15 – 24:47] The Pioneers of Disrupting the Travel Industry

How Priceline.com founder, Jay Walker, changed the travel industry
Why travel is so important for Jeff
Developing a solution to getting people on a plane faster
When meeting a challenge, focus on finding solutions, not complaining

[24:48 – 30:17] Managing Change in a Fast Paced World

Running a business with agility
For entrepreneurs, chaos and disruption should be your alarm clock
Tips for leaders on how to pivot and adapt
Look at the data, trends, and the way the world is changing
The difference between a growing and stagnant company
The key to a company’s success is for a leader to get out of the way and let others do their jobs
The keys to scaling a business

[30:18 – 32:12] Closing Segment

Connect with Jeff
Links below
Learn more about Jeff with the Rapid Fire Questions!

Show notes

Guest Bio

Jeff Hoffman

Jeff Hoffman is a successful entrepreneur, proven CEO, worldwide motivational speaker, bestselling author, Hollywood film producer, a producer of a Grammy-winning jazz album, and executive producer of an Emmy Award-winning television show. In his career, he has been the founder of multiple startups, he has been the CEO of both public and private companies, and he has served as a senior executive in many capacities. Jeff has been part of a number of well-known successful startups, including Priceline.com/Booking.com, uBid.com and more.

Jeff serves on the boards of companies in the US, Europe, the Middle East, South America, Africa, and Asia. He supports entrepreneurs and small businesses on a worldwide basis. He is the Chairman of the Global Entrepreneurship Network, which works with entrepreneurs in 180 countries, as well as being a founding board member of The Unreasonable Group. He supports the White House, the State Department, the United Nations, and similar organizations internationally on economic growth initiatives and entrepreneurship programs.

Jeff is a frequent keynote speaker, having been invited to speak in over 60 countries. He speaks on the topics of innovation, entrepreneurship, and business leadership, and is the author of the book SCALE, a how-to guide for growing your business. Jeff also teaches innovation workshops to major corporations on a regular basis.

Jeff was honored with the Champion of Entrepreneurship Award from JP Morgan Chase and Citibank, as well as receiving a Lifetime Achievement Award and being inducted into the Entrepreneurs Hall of Fame.

Outside of the world of technology, Jeff has produced TV shows, has produced movies in Hollywood, has produced musical events including concerts, tours, and charity events with such artists as Elton John, Britney Spears, NSYNC, Boyz II Men, and others, and serves on numerous charity and non-profit boards.

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