A few thoughts:
1. Business vs Product
“In three decades of financing pornography, Kameyama says he hasn’t set foot on an adult movie set more than once or twice, and he doesn’t watch his own films. To him, porn is the proverbial widget — a thing to sell for more than it costs to make and market, no different from any other product.”
Some people say you need to be excited about your own product, but you can be passionate about the business itself.
How do I find customers, how do I hire, how do I optimize, etc., are all their own challenges and triumphs; what you happen to sell obviously is important, but it doesn’t have to be the thing you’re into.
2. Being Warren Buffett
Owning lots of businesses is the new cool thing. People with wealth have always diversified, but you hear about it a lot more these days:
- This story
- The Saudis investing in assets outside of oil
- Stories like Brent Beshore of Adventrues doing “mini private equity”
- The $500 million Social Capital fund to buy tech companies that don’t want to IPO
3. Do Now, Adjust Later
He hates the lobby decor and design @ their HQ but did it because someone he trusted said it would help attract talent.
“I hate it,” he says. “But if it works, great. If it doesn’t, we’ll try something else.”
That feels like the philosophy of the great entrepreneurs I know. There is no fear of failure. Do now and adjust later. There’s no fear of feeling stupid. The whole thing is just one grand experiment.
That’s the same attitude he had earlier in life, where he tried a little of everything:
- Accounting school, but dropped out
- Semi-nude dancer at a gay Chippendale’s club
- Washing cadavers at a hospital
- Owned several movie rental shops in his late 20’s
4. Narratives All the Way Down
This story covers a few of the paths he tried, but I’m sure there are tons more. And I’m also sure that the successful businesses have their own fits and starts, too.
The great mistake is to compare the inside of your business to the outside of the businesses you read about online.
Media has to tell a story because that’s what we like to read. But most successes don’t have great narratives in the moment. They’re all constructed after the fact.1
5. Start Small
Great advice on how to contribute to society:
“Kameyama’s : Start by building a company that lets a few people feed their families, instead of trying to tackle global hunger.”
Everything begins with a single customer.
Cue Steve Jobs commencement speech quote: “You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future”.↩