All tagged Entrepreneurship
The thing about deadlines is that, if we’re conscientious, we’ll actually work to them.
Which, in general, is a good thing because deadlines ensure that we prioritize our tasks, allocate the needed resources (usually) and get things done with intent.
At the same time, deadlines - if not correctly set - can give us a false sense of security.
Taking on challenges can be daunting. We worry about the commitment and we worry about all of the potential outcomes. In doing so, we can be tepid in our approach.
But, as I discuss in today's episode, the only way forward is as simple as it can be challenging to execute: we need to forget to be afraid.
Get funded!
If you float around social media long enough and follow certain cohorts or hashtags, you’d be forgiven for thinking that there are only a few paths to entrepreneurial success - and even fewer paths that are ”right”.
In particular, the pressure is to get funded - or at least that’s the option that provides (is given) the most ’social’ credibility.
Startups need to be scrappy to succeed. They need to push the boundaries of their markets, take advantage of all avenues and market rules to not only get their product to market but to compete with the bigger, more established players.
While it’s a nice idea to think that if they simply develop a great product, customers will flock to them, the fact of the matter is that a head to head battle against the market leader doesn’t usually end well for anyone but the incumbent.
There’s a passage in Ayn Rand’s book, The Fountainhead, where the central character, Howard Roark, lays out his personal rules for Architecture. He says:
"Here are my rules: what can be done with one substance must never be done with another. No two materials are alike. No two sites on earth are alike.
One of the ways that my firm helps organizations is by forecasting commodity prices. That is, we study specific commodities (e.g. High Density Polyethylene) and, using both quantitative models as well as qualitative analysis, provide a view as to what will happen to the prices of those commodities 6 to 12 months out. It’s not a perfect science but it’s helpful in driving better decision making.
Every so often, I’ll have someone ask us for a detailed 24 month forecast. And every time, my answer is the same.
Risk is a hard concept to really come to grips with.
I mean, we intuitively understand that everything we do comes with some measure of risk, which we accept as a normal part of everyday life. For example, crossing the street, driving a car, or getting on a flight entails risk, but we don’t generally give it too much (if any) thought.
The reality of the learning process is that it’s often non-linear and, most importantly, unpredictable.
There’s a tendency to think of it (hope?) as a “paint-by-numbers” approach: follow these steps and you’ll get to your destination. And while aspects of learning are indeed structured and conventional in that sense, many others are not. That, in so many respects, is where real learning happens.
Today's episode focuses on the one and only fundamental of success - doing the work.
Our role models from the sports to the business worlds understand this. The one commonality amongst all of them is that they've paid their dues. They put in the effort and did what was needed to lay the foundation for their success. If we aspire to that success, we need to do the same.
I believe endurance is the most critical ingredient of success.
Conventional thinking, fueled by everything we read in the media, suggests the key ingredients are far sexier: great ideas or talented teams or plenty of funding. Those are far more ‘romantic’ ideas and they certainly make for more enjoyable water cooler conversations.
I heard an interesting comment the other day at a panel of Founders and Venture Capitalists.
Someone made the observation that when the world went online during COVID, the available money went - predominantly - to ‘known’ founders (versus first time entrepreneurs or entrepreneurs that VCs didn’t know).
This month's podcasts focus on the art of communication - a critical skill no matter what we do for a living.
In today's episode, I discuss how no amount of clever language and word smithing can make up for a poor message or offering. That sometimes, the problem isn't in the message but with us.
So what’s the average age of successful entrepreneurs in the US? Not just entrepreneurs in general, but the founders at the fastest growing new ventures?
45.
That’s right. The average successful, high growth entrepreneur is, at founding, far older than conventional wisdom and the mainstream media would have us believe.
One of the hardest things to get your head around when you’ve decided to create something new, is that no one has the answer to what you need to do.
How your offering should be designed, what it should do, how it should be priced - all of this is up for debate. There may be comparables out there - models that you can compare to and get ideas from, and they can offer a guide, a few suggestions along the path.
The ability to be present is, it seems to me, a talent. It’s a hard skill to develop and hone.
I don’t know if that’s the case for you, but it’s certainly been the case for me, something I’ve personally struggled with over the years.
Part of this is a tendency to take on multiple priorities. Part of this is a tendency to obsess over a situation or a task, to let it absorb me entirely.
This month's podcasts delve into the seeds of entrepreneurship, where these crazy ideas come from and what they mean for us, as entrepreneurs.
In today's episode, I reflect on article I read about Lauryn Hill and the importance of creating art for yourself and not for anyone else. This is true of all truly great creators - not simply in the Arts but in business as well.
This month's podcasts delve into the seeds of entrepreneurship, where these crazy ideas come from and what they mean for us, as entrepreneurs.
In today's episode, I discuss the nature of ideas, and specifically great ideas. What is it about great ideas that makes them endure? What kind of environment allows such ideas to break through? What do we need to keep in mind to make sure these ideas break through?
This month's podcasts delve into the seeds of entrepreneurship, where these crazy ideas come from and what they mean for us, as entrepreneurs.
In today's episode, I talk about ideas and how the great ones are - and should be - polarizing. They should engage or enrage, but nothing in between.
This month's podcasts delve into the seeds of entrepreneurship, where these crazy ideas come from and what they mean for us, as entrepreneurs.
In today's episode, I talk about where ideas get their start. Many times, we think of successful businesses as always having been full formed, from origin through execution. The reality is that it all starts with a hunch.
Presentations and pitches are tricky things.
By definition, the goal is to sell something to someone. It could be to get a business idea funded, to get approval to move forward on a project or, to make a sale. In all cases, we’re trying to convince someone to part with something valuable (usually, but not always, money) in return for whatever it is we have to offer.
