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Tobi Lütke

👤 Speaker
1443 total appearances

Appearances Over Time

Podcast Appearances

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

Everything you do, everything you learn, every skill you pick up along the way is going to be with you forever.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And the experience you do, even if the thing doesn't automatically plan out, is something that you're going to bring to literally every task you'll ever do.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

This is the wonderful thing about

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

is our intuition is underrated.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

Our intuition is our entire past, all our life's experience rolled out for us, brought to the moment to try to make the best possible choice for the conundrum in front of us.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And if that involves what it's like to start something, to build something, to...

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

negotiate deals to potentially have employees, to be responsible for someone's livelihood.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

If any of those things are in your past, you just will make a lot of quite valuable decisions with more accuracy afterwards and higher competency.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And so I think it's incredibly valuable as a pursuit.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And what do you know, it might actually work.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

You know, it just turns out that unless you're trying to build a business that is sort of another version of something that someone else has already done without many modifications, if that's what you're doing, that's really busy space.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

But again, on the internet, you need to find your 1,000 true fans.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

That's it.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

That's the job.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

If you build something that 1,000 people will be deeply into, you'll figure out how to build this as a sustainable business afterwards.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And that's much easier to do when you build something that you yourself are incredibly excited about than if you go and build something that other people might deem to be a good market for you to go into.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

And I've seen this over and over and over again, that the best businesses on the system and in general in the world are things that solve problems that entrepreneurs, they spoke to them.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

They found there needs to be founder product fit more than there needs to be product market fit.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

I think founder product fit is actually one of those things which I think is often overlooked.

The Shawn Ryan Show
#261 Tobi Lütke - CEO of Shopify: How Shopify Became a Cheat Code for Entrepreneurs

I mean, I'm obviously incredibly privileged and lucky here because I found it very, very early.