You may be unfamiliar with the name Marc Randolph, who was Netflix Cofounder. Randolph is no stranger to starting a business. So, he applies the following pieces of advice that can help your business find success and growth in its market.
Test your idea
For many people, testing a new idea can take a lot of time and resources. When creating Netflix, Randolph decided to take testing his idea into his own hands and suggests this to anyone else trying to start their business based on an idea they have had. Testing no longer has to be expensive and time-consuming, and Randolph tries to highlight the importance of testing cheaply and quickly.
Understand your weaknesses
Randolph goes on to explain how important it is to understand where your strengths and weaknesses lie. SO, running a business is a multifaceted operation. As the person running the business, you need to be able to recognize what you can and cannot do well. Thus, it is important to set aside your pride and ego to realize that other people may fit better in certain positions within your business. Accepting that someone else may be a better fit not only allows your business to flourish, but it allows you to focus on your strengths and allows you to learn more pertaining to your weaknesses from someone who knows what they are doing.
Source Author: Sean Kim
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