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Success Secrets of Reid Hoffman LinkedIn’s Founder

• It’s okay to be brief
When people asked him about work/life balance, he just laughed. But he tries to be time-efficient by scheduling meetings in appropriate increments –15 minutes or less sometimes. He has also tried to build a culture that understands writing brief e-mails is not emotional coldness.

• Be willing to change course
Entrepreneurs tend to believe, “I’ve got my idea, I’ll go until I die.” But he advises them to take seriously the questions about whether their [business] plan is irredeemably flawed and whether they need to change what they’re doing. Be diligent about failing fast so that you don’t spend five years doing something that’s just going to fail.

• Don’t be a perfectionist
He frequently tells Internet entrepreneurs, “If you’re not somewhat embarrassed by your 1.0 product launch, then you’ve released too late.” There’s value in launching early, getting engaged with customers, and learning from them. That can direct your progress.

Full story here on Fortune Magazine and video.

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