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Bill Gurley: How to Become a World-Class Entrepreneur

By Bill Gurley · Mindset & Career · 1 min read

Gurley gave MBA students five rules. The first one is the only one that actually matters.

Key Points

Pick a profession you have deep personal interest in -- you can't fake passion
Hone your craft obsessively. Be the most knowledgeable person in your space.
Bobby Knight's test: everybody has the will to win, but do you have the will to practice?

Somebody else sitting in some other MBA program has a deep passion for whatever career path you're going down. And they're going to smoke you if you don't have it yourself.

Find Your Passion (For Real)

Gurley: "Pick a profession of which you have a deep personal interest. There's nothing that's going to make you be more successful than if you love doing what you're doing. Because you're going to work harder than anybody else, because it's not going to feel like work. It's going to feel like fun."

He's clear this has to be your passion. Not your parents'. Not your family's generational expectation. Something you're doing on your own.

This should be your personal passion. Not your parents'. Not your sister's. Not your family generation of expectation.

Don't Chase Status

Gurley: "There are a lot of high-profile careers that make a lot of money and are generally perceived to be areas where successful people go. But if you run at those things and don't have a passion for them, you're going to burn out eventually."

And the worst part? You can't fake it. Someone else out there has genuine passion for that career path, and they will outwork you without even trying.

Somebody else has a deep passion for whatever career path you're going down. And they're going to smoke you if you don't have it yourself.

The Bobby Knight Test

Gurley quotes Bobby Knight: "Everybody has the will to win. People don't have the will to practice."

That's his test for whether you're in the right career. Do you enjoy the preparation? Everybody enjoys winning. Do you enjoy the studying, the work, the practice part?

Everybody has the will to win. People don't have the will to practice.

Hone Your Craft Obsessively

Gurley: "Be obsessive about understanding everything you possibly can about your craft. Study the history. Know the pioneers. Strive to know more than everyone else about your particular craft."

His benchmark: say you love esports. Within six months you should be the most knowledgeable person at your business school on that topic. By the end of year one, top five of all MBA students. By graduation, number one.

It's quite doable to be the most knowledgeable. I can't make you the smartest or the brightest, but you can out-know everyone.