This One Talent Is 'the Greatest Skill You Can Develop' for Entrepreneurship, Says Professor Scott Galloway

Serial entrepreneur Scott Galloway, who sold his 2nd company, L2, for $158 cardinal successful 2017, says that entrepreneurship isn't for everyone — and that certain traits specify successful founders.

In a caller section of The Diary of A CEO, big Steven Bartlett asked Galloway, a bestselling writer and NYU Stern MBA professor, if anyone tin commencement a institution and go a successful entrepreneur.

Galloway said no.

"There are definite attributes that astir group don't have," he said, adding, "First and foremost, you person to beryllium really risk-aggressive and person that willingness to fail. You're consenting to return immense risks."

Scott Galloway. Photo by Tobias Hase/Picture Alliance via Getty Images

Galloway gave an illustration of MBA students he's talked to who person offers astatine large companies for illustration Google aliases JPMorgan. They are debating if they should activity astatine these places for a fewer years earlier starting their ain ventures, aliases cull nan connection and commencement their ain businesses instead.

Related: How to Start Your Dream Business This Weekend, According to a Tech CEO Worth $36 Million

He tells these students to "go activity for Google."

"On a risk-adjusted basis, nan astir unbelievable level for generating wealthiness and opportunity and semipermanent economical information is nan American corporation," Galloway said. "If you person entree to those platforms, unless you dislike it and are unspeakable astatine it, you should spell that way."

Galloway said that astir entrepreneurs didn't get a prime — they astir apt didn't person entree to nan aforesaid profession opportunities arsenic an NYU Stern MBA student.

Related: He Started an 'Accidental' Business astatine 25 With Just $2,000 — Then Gave His Product to nan Pope: 'Anyone Can Be an Entrepreneur'

He besides said that consequence aggressiveness connected its ain is not enough. Galloway emphasized that successful entrepreneurs find ways for risks to salary disconnected and they tin sell. They tin person investors, users, and labor of nan company's imagination pinch a compelling narrative.

Galloway called storytelling "the top accomplishment you tin create aliases that you want your kids to person that will guidelines nan trial of time." That's nan accomplishment that gets different group connected board.

He pointed to Nvidia's Jensen Huang and Amazon's Jeff Bezos arsenic 2 examples of this accomplishment successful action.

"The halfway competence that's going to get you existent power and economical information is storytelling," Galloway said.

Related: This 26-Year-Old's Side Hustle That 'Anybody Can Do' Grew to Earn $170,000 a Month. Here's What Happened When I Tested It.