'School of Hard Knocks' founder reveals the 'biggest' lesson in business he has learned

About this Video

• Video Title: 'School of Hard Knocks' founder reveals the 'biggest' lesson in business he has learned
• Channel: Fox Business
• Speakers: James Dumoulin, Liz (host)
• Duration: 00:08:18

Introduction

This Fox Business interview features James Dumoulin, the 23-year-old cofounder of the business media platform "School of Hard Knocks." The interview centers on Dumoulin's entrepreneurial journey, his biggest business lesson learned, and the insights gained from interviewing prominent figures like Tom Cruise and billionaires.

Key Takeaways

• Thinking in decades, not days: Billionaires often possess a long-term vision, planning for decades rather than focusing solely on short-term gains. This is contrasted with the common short-term thinking seen in younger generations.
• Persistence despite rejection: Dumoulin emphasizes the importance of perseverance. He explains that numerous rejections ("50 Nos to get 1 Yes") are an inevitable part of the process, and each "no" brings one closer to success.
• The power of positive influence: Surrounding oneself with supportive individuals and avoiding those who discourage ambition is crucial for success. Dumoulin moved to Austin, TX, for this reason.
• Faith as a guiding principle: Dumoulin highlights the significant role that faith has played in the lives of many successful individuals he's interviewed. He emphasizes that prioritizing faith provides a foundation that transcends material wealth.
• Broad social media reach: The School of Hard Knocks boasts over 15 million followers across various social media platforms, with over 4 billion views generated over four years, targeting a wide demographic, especially those in their late 20s and mid-30s.