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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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You Only Have to Be Right Once summary
Randall Lane
The Unprecedented Rise of the Instant Tech Billionaires
17 mins
Brief summary
'You Only Have to Be Right Once' by Randall Lane is an entrepreneur's guide to launching successful startups. It includes insights from successful business leaders, practical advice on fundraising and team-building, and real-world examples of successful companies.
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You Only Have to Be Right Once
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Key idea 1 of 8
Many tech-billionaires achieved their success by boldly pursuing a dream.
If you want to be successful in life, what’s the best path to take? Here’s the conventional answer to that question: work hard at school and then find a mentor to help you along your career — which you should pursue at a slow and steady pace.
Although this approach probably sounds familiar, most of today’s mega-successful young entrepreneurs — the tech-billionaires — followed a different path. For them, success was all about boldly pursuing a dream and ignoring what society expected of them.
Let’s look at one example: when he was just 23-years-old, Evan Spiegel, the co-founder of Snapchat, turned down Facebook’s offer to buy his company for $3 billion. Although it’s too early to tell whether his decision was wise, we can still learn from Spiegel’s stratospheric path to success.
Like many other successful entrepreneurs, Spiegel learned how to get his own way at a young age. When his high-powered lawyer parents split up, Spiegel used it to his advantage: his dad refused to buy him a BMW, so Spiegel moved in with his mother. It wasn’t long before his dad caved and bought him the car.
There’s another similarity between Spiegel and his entrepreneurial peers: that he dropped out of college to pursue his startup. He and Snapchat co-founder Bobby Murphy came up with the idea for their app while they were still in college, but struggled to get the concept to take off. Although their parents pestered them to look for “proper jobs,” the duo stayed true to their dream.
And finally, they received an investment from a venture capitalist. Spiegel promptly quit college (weeks ahead of graduation) and started on Snapchat day and night.
And of course, you know how this story ends: Spiegel’s efforts paid off and Snapchat became one of the world’s most popular apps — so popular that Facebook offered to buy it for $3 billion.
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What is You Only Have to Be Right Once about?
Based on Forbes magazine interviews with some of Silicon Valley’s most successful tech entrepreneurs, You Only Have to be Right Once outlines how today’s tech wunderkinds achieved their successes.
You Only Have to Be Right Once Review
You Only Have to Be Right Once (2018) by Randall Lane is a book that provides valuable insights into the world of startups and entrepreneurship. Here are three reasons why this book is worth reading:
- With its in-depth interviews with successful entrepreneurs, the book offers valuable insights and advice for aspiring business owners.
- Combining real-life stories with practical tips, it presents a well-rounded perspective on the challenges and opportunities of starting a business.
- The book's engaging storytelling keeps readers hooked, making it an enjoyable read even for those who are not typically interested in business literature.
Who should read You Only Have to Be Right Once?
- Anyone interested in how the world’s most successful entrepreneurs made their money
- Budding techies and business people
- The next Mark Zuckerberg
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You Only Have to Be Right Once FAQs
What is the main message of You Only Have to Be Right Once?
The main message of You Only Have to Be Right Once is the power of being in the right place at the right time.
How long does it take to read You Only Have to Be Right Once?
The reading time for You Only Have to Be Right Once varies, but it can be read in a few hours. The Blinkist summary can be finished in just 15 minutes.
Is You Only Have to Be Right Once a good book? Is it worth reading?
You Only Have to Be Right Once is worth reading for its insights into seizing unique opportunities. It's a valuable resource for those looking to make an impact.
Who is the author of You Only Have to Be Right Once?
The author of You Only Have to Be Right Once is Randall Lane.
What to read after You Only Have to Be Right Once?
If you're wondering what to read next after You Only Have to Be Right Once, here are some recommendations we suggest:
- Switch by Chip Heath & Dan Heath
- Purple Cow by Seth Godin
- Made to Stick by Chip Heath and Dan Heath
- The Tipping Point by Malcolm Gladwell
- Positioning by Al Ries and Jack Trout
- David and Goliath by Malcolm Gladwell
- How Big Things Get Done by Bent Flyvbjerg and Dan Gardner
- All Marketers Are Liars by Seth Godin
- Joyful by Ingrid Fetell Lee
- Raise Your Game by Alan Stein Jr.
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