Tim Ferriss: You Don't Have To Be Smart To Succeed, This Is More Important

02/07/2014 10:11 am ET | Updated Feb 07, 2014

Intellect is beside the point when you're starting a business, according to author and angel investor Tim Ferriss.

Author of the bestselling "4-Hour Work Week," Ferriss built a career by finding what he calls a "special toolkit" to allow him to learn things faster and more efficiently. That process, like starting your own business, has less to do with the "thinking" and more with the "doing," he said in an interview with e-commerce site Shopify.

"Ideas are worth nothing," Ferriss said. "They're not a dime a dozen, they're just nothing. All the good founders I know -- even the bad founders -- can come up with ideas all day long. It doesn't mean anything. You have to execute."

Those who take Ferriss' advice to heart may have the chance to get more via Shopify's Build a Business Competition, in partnership with The Huffington Post. The competition offers entrepreneurs the chance to win a $50,000, as well as receive guidance from successful entrepreneurs like Ferriss and investor Mark Cuban.

For more of Ferriss' advice check out the video above.

To sign up for Shopify's Build a Business competition click here:

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