I am old and overeducated. I grew up poor with uneducated parents, after high school I had to get a job. Later in life I put myself through college all the way to an MBA from a top school.
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.