The transcript discusses the story of Linda Weinman, a graphic design teacher who founded the website lynda.com in 1995. She used the platform to share her students' work and develop her own teaching methods online. In 2002, she expanded her teaching to cover other subjects, and the business grew significantly. In 2015, LinkedIn acquired lynda.com for 1.5 billion USD.
The speaker then introduces six counter conventional mindsets of entrepreneurs, which are:
1. "Yes, we can": This mindset involves being open to new ideas and opportunities, even if they are outside of one's core competencies. The speaker uses the example of Arnold Correa, who built a business called atmo Digital by saying "yes" to different requests from his customers.
2. "Problem first, not product first logic": This mindset involves focusing on solving problems rather than developing new products. The speaker uses the example of Jonathan Thorn, who developed a new surgical forceps to address a problem with existing ones.
3. "Think narrow": This mindset involves focusing on a narrow target market. The speaker uses Nike as an example, which initially targeted distance runners with a specific problem.
4. "Asking for the cash and writing the float": This mindset involves using cash as the lifeblood of the entrepreneurial venture. Elon Musk and the Tesla team are cited as examples.
5. "Beg, borrow": This mindset involves borrowing most of the assets needed, as demonstrated by Tristram and Rebecca Mayhew, who founded Go Ape, a treetop adventure business in the UK.
6. "No permission": This mindset involves not asking for permission to do something new and innovative. The speaker uses Uber as an example.
The speaker concludes by asking the audience to reflect on which of these mindsets they already embody, which ones they can learn, and how they can apply these mindsets to their own challenges.
1. In 1995, a graphic design teacher named Linda Weinman decided to create the website lynda.com. She did this to test out new graphic design tools and to share her students' work. The business began to grow and in 2002, she moved all her teaching online.
2. The business was sold to LinkedIn in 2018, who renamed it LinkedIn Learning. The sale was for 1.5 billion USD.
3. LinkedIn Learning is often referred to as the "poster child" for counter conventional mindsets of entrepreneurs. The speaker explains these mindsets as attitudes, habits, thoughts, and mental inclinations that pre-determine the response to something that comes our way.
4. The speaker outlines six mindsets that run counter to the best practices done in big companies today: "Yes, we can", "problem first, not product first logic", "think narrow", "asking for the cash and writing the float", "beg, borrow, but please, please don't steal", and "entrepreneurs and permission are kind of like oil and water".
5. The speaker calls for a reflection on which of these mindsets are already embodied in the listener and which ones they can learn. They also encourage listeners to consider whether they can teach these mindsets to someone they work with who has challenges for which these mindsets might help.
6. The speaker concludes by asking listeners if they are facing a challenge for which one of these mindsets or a couple of them might help them get beyond the roadblocks they're facing with that challenge.