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Quote by Reid Hoffman

“The actual, the forming of ties with a group of people around you where they help you grow as a professional, solve problems, get opportunities, and you help them, is actually the constitutive base of the foundation of a strong, modern career.”

Quote by Reid Hoffman

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Reid Hoffman
Reid Hoffman

Reid Hoffman is an entrepreneur born on August 5, 1967. He is one of the co-founders of LinkedIn, which has had a profound impact on the development of modern professional social networking. more

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“The first set of questions to ask yourself when you're doing cost cutting is relatively straightforward, which is, you know, can you use the necessity of cost cutting as an opportunity to do pruning or trimming for projects that aren't being as successful? But, you know, frequently those are the easy ones. I mean, there's always some kind of social costs internal to the company, but that's the easy way of looking at the future.”

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“Managing risk is a key variable, frankly, all aspects of life, business is just one of them, and one of the things that most people do in terms of managing risk, that's actually bad thinking, is they think they can manage risk to zero. Everything has some risk to it. You know, you drive your car down the street, a drunk driver may hit you. So what you're doing is you're actually trying to get to an acceptable level of risk.”

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“Now, in economic crises times, the kind of things you're looking at is it's generally harder to get capital, revenue growth may be more, revenue lines may be unstable or growth may be less easy to predict that you're going to get to. And so what you do is you take a certain conservative approach of when, as all entrepreneurs should do, you plan for both good luck and bad luck, you put extra time on, "Okay, if I have bad luck, what do I do about that?"”

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“Well, well-run companies always have a focus on growth and the two lines, which includes profit. The key thing during, I think, tough times, is to make sure that you've covered the basis for when something, you know, essentially things taking longer, bad luck, adversity, other kinds of circumstances may occur. Make sure that you can monitor to win, it's potentially, you know, something is going to go wrong, monitor early enough, and then take appropriate action to essentially counteract that or shift your strategy or plan, even if in fact something is not working out as well as it is.”

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