3 traits help you succeed as an entrepreneurNo. 1 is insanely great ambition NBC4 Washington [Video]

Self-made billionaire Reid Hoffman knows what it takes to be a successful entrepreneur.

The 57-year-old co-founded LinkedIn in his living room in 2002, and served as its CEO for most of the following decade. His professional networking platform now has a user base of more than 1 billion, and was bought by Microsoft in 2016 for $26.2 billion.

Hoffman has also been a board member at tech companies like PayPal, Airbnb and Microsoft. He co-founded Inflection AI, a machine intelligence company, in 2022. His experience has taught him that three traits stand out the most in a business owner with promise, he said in a recent podcast episode of “The Diary Of A CEO”: ambition, resilience, and awareness.

“Insanely great ambition” particularly stands out, Hoffman said. When choosing a founder to invest in, he’s drawn to someone with the mindset of “I’m shooting for the moon” and “If I’m successful, I will transform the industry.”

Such ambition can indicate that you’re willing to …