The world moves fast. Thomas Tull wants founders to move faster. That's why, when he invests in a startup, he gives them this advice: "Prepare for velocity." In other words, make sure you're ready to grow quickly and pivot at a moment's notice.
Tull has taken that advice himself. His career has run on fast growth-from when he ran a chain of laundromats after college, to later founding the film studio Legendary Entertainment (which made massive hits including The Dark Knight trilogy and The Hangover series). That work, along with finding success as a tech and VC investor, made him a billionaire. After leaving Legendary in 2017, he continued his investing career-starting his company Tulco that year and the United States Innovative Technology Fund in 2022-supporting companies including Pinterest, FIGS, Oculus Rift, and Sandbox AQ. He's also part-owner of the Pittsburgh Steelers and the New York Yankees.
The way Tull sees it, running a business has always been hard-but the landscape was once more predictable. Here, Tull talks about how to navigate today's fast-moving environments, and why it all starts with a leader's attitude.
I love that advice you give founders: "Prepare for velocity." Can you unpack it?
Things happen so quickly nowdue to the confluence of global politics, technology moving at a geometric rate, and all our interconnectivity. Your company can get big very quickly, and it can fail very quickly. You're going to have to make a lot of choices with imperfect information, and you must be prepared for the velocity of today's changes, and the implications of your decision-making.
How does a founder put that into practice?
Start with your elemental value system that is, what you fundamentally believe in and want to act upon. Then you must have pliability, to be able to change and bend where applicable.
Esta historia es de la edición March 2024 de Entrepreneur magazine.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 2024 de Entrepreneur magazine.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
How To Ask Family For Money
Your friends-and-family fundraising round doesn't have to be scary and awkward. Here's advice from one of the world's leading investors.
Data Breach Drama: When Trust Turns Costly In A Digital Age
Amid data breaches surges, Indian businesses are prone to financial and reputational fallout. Can cyber insurance emerge as a safeguard?
THE TERRAIN TAMER
Spearheading a California-based, Series D SaaS company is no easy feat. It requires a blend of ownership, innovation, and the ability to handle stress. But Anand Jain, co-founder and chief product officer of Clever Tap, finds his calm by escaping to rough terrain whenever he gets the chance-be it India or Colombia.
THE INTELLIGENT READS
Hardika Shah founded Kinara Capital in 2011 with the mission to address the acute credit gap in the micro-small-medium-enterprises (MSME) sector in India, by providing fast and flexible business capital to small business entrepreneurs. Despite operating in highly competitive and tough market of collateral free loans, Kinara Capital has been steadily growing in Hardika's leadership. In conversation with Entrepreneur, Hardika shares insights on her favourite books.
THE CURSE OF GROWING TOO FAST
FAIRE is a platform for small businesses, but it grew big the wrong way-almost becoming a $12 billion wreck. Here's how it fixed the problem, and why you should think twice before skyrocketing.
There's No Perfect Answer
I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn't sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear \"yes!\"
Give Yourself the Gift of Time
Happy holidays! Emmy Award-winning tech expert Mario Armstrong has five recs to get more hours in the day.
How to Become a Main Street Millionaire
It started when I bought one little laundromat. Now I have a whole portfolio of small local businesses that bring in tens of millions in revenue a year. Here's why following my playbook could be your ticket to financial freedom-and saving America's local small businesses.
Want to Better Serve Your Clients? Become Them.
As a designer for brands, starting my own product company gave me a dose of humility-and it changed the way I relate to clients.
How to Succeed With Gen Z Workers
People often say that younger employees are different. But are they? We asked six business leaders what they've learned, and how their teams thrive.
