Runnin’ Down a Dream

The inspiration for this article came from a talk I was asked to give to a room full of university students earlier this week.? These young people are in the process of thinking through their own personal career paths, and wanting to understand how my two fellow panellists (Phil Miall and Troy Morgan) and I found our way to our chosen fields, and hear some of the lessons we’ve learned along the way.

I remember being in the same position as many of these young people, not really knowing what I wanted to do, and looking for advice and insights from people that had progressed in the field I was interested in.

The advice I shared, which I wish I’d found when I was their age, can be summed up in a speech given by legendary venture capitalist, Bill Gurley, titled: “Runnin’ Down a Dream: How to Succeed and Thrive in a Career You Love”.

In this speech, Gurley shares valuable lessons on pursuing one’s passion and achieving professional fulfilment.? Delivered at the McCombs School of Business at the University of Texas, Gurley’s address offers timeless advice for anyone aiming to carve out a meaningful and successful career.

1. Discover your passion

Gurley emphasises the importance of identifying a career that aligns with your deepest interests.? He advises against choosing paths solely for status or financial gain, noting that true success comes from engaging in work that genuinely excites you.? This intrinsic motivation fuels perseverance and dedication, making challenges more manageable and achievements more rewarding.

"Everybody has the will to win.? People don’t have the will to practice."?– Bobby Knight.

2. Master your craft through continuous learning

Once you’ve identified your passion, Gurley advocates for an unwavering commitment to mastering your craft.? He underscores the necessity of being obsessive about learning, encouraging individuals to study the history of their chosen field, understand its pioneers, and strive to know more than anyone else.? This relentless pursuit of knowledge not only enhances expertise but also sets you apart in your profession.

As Gurley puts it: “The good news: If you are going to research something, this is your lucky day.? Information is freely available on the Internet.? The bad news: You have zero excuse for not being the most knowledgeable person in any subject you want.? The information is right there at your fingertips.”

3. Build a network of mentors and peers

Develop mentors in your field.? Take every chance you can to find somebody to teach you about the field you want to excel in.? Document what you hear.? Share it with others.

Gurley highlights the significance of surrounding yourself with mentors and peers who can offer guidance, support, and inspiration.? He illustrates this point by recounting how basketball coach Bobby Knight, early in his career, proactively sought relationships with some of the most esteemed coaches of his time.? These connections provided Knight with invaluable insights and opportunities, demonstrating the profound impact of a strong professional network.

4. Embrace peers in your field.?

Have discussions with them.? This is how you learn.? This is a way to hone ideas.? Always share best practices.? Don’t worry about proprietary advantage.? It is not a zero-sum game.???

Celebrate their accomplishments as if they are your own.? Send them notes.? That will come back to you in spades.

A great practical piece of advice Gurley shares is: “Twitter [now X] is the most amazing networking and learning network ever built.? For someone pursuing their dream job, or chasing a group of mentors or peers, it is remarkable.? In any given field, 50% to 80% of the experts in that field are on Twitter sharing ideas.”

5. Always be gracious and pay it forward. ?Give the majority of credit to other people that helped you.? It is the right thing to do.

Recognising the support and contributions of others is a recurring theme in Gurley’s speech.? He advises giving credit to those who have helped along the way and stresses the importance of paying it forward by mentoring others.? This approach not only fosters a positive professional environment but also perpetuates a cycle of support and learning within the industry.

Final thoughts

In conclusion, Bill Gurley’s “Runnin’ Down a Dream” speech offers a roadmap for those seeking to build a fulfilling career.? By discovering your passion, committing to continuous learning, building a supportive network, embracing peers in your field, and acknowledging the help of others, you can navigate the path to professional success and personal satisfaction.

For those interested in delving deeper into Gurley’s insights, the full speech is available here: Runnin' Down a Dream:? How to Succeed and Thrive in a Career You Love? - Bill Gurley 9/14/2018

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