Apr
0

One of the Great Myths of Entrepreneurship: Calling the Shots

culture, entrepreneurship, personality, start-ups

One of the Great Myths of Entrepreneurship: Calling the Shots

The Myth of Calling the Shots

One of the reasons I initially got into entrepreneurship was that I wanted to “call the shots.”  This is one of the most common reasons people cite for getting into entrepreneurship.  Being the boss.  Calling the shots.  Making the decisions.  It’s compelling.  And it’s almost completely false.  It’s one of the great myths of entrepreneurship (one of the others is ’setting your own schedule’ – but that’s for another time).

Here’s why it’s a myth: you don’t call the shots – the market calls the shots.  While you get to make decisions, those decisions can’t be made in a vacuum.  Well they can be, but then you’re in business NFL – Not For Long.  I come across so many entrepreneurs who see entrepreneurship as one giant path of constant self-aggrandizement.  They see success as following their instinct and trusting in their singular vision. And that’s just plain stupid.  Your business needs to serve a need – its needs to connect with what the client wants.  And if you make it all about what you want – and your need to make decisions – you’re putting yourself first.  It’s not about you – it’s about the client.

Here’s another reason it’s a myth: you should surround yourself with smart people.  Better yet smarter people.  If you insist on making all the decisions – you’re closing yourself off from the advice and support of these people.  Or you’ve surrounded yourself with yes men and/or idiots.

When you think you’ll call the shots you’re subscribing to the view of entrepreneurs being brilliant geniuses ensconced in their ivory towers handing down brilliance from on-high.  If you look at really successful entrepreneurs, they are connectors. They form partnerships, they bring resources together, and they listen to clients.  What they don’t do is engage in the relentless arrogance of thinking it’s about calling the shots.

In my own experience, discovering this myth was one of the more painful realizations of running my own business.  It stinks to realize that it’s not about you and your brilliant ideas.  It’s about putting yourself out of the picture and focusing on the client.

Any other myths you’ve seen busted?

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Nov
1

Great Tips: How to Run a Meeting

entrepreneurship, opportunity, personality, tips

Great Tips: How to Run a MeetingOver at the Art of Manliness, there’s a great series of tips on running a meeting.  The Art of Manliness, despite the off putting name (to some people – me, I get it), is overall a really excellent blog – and an example of how to build a community of common interest. The common interest on Art of Manliness revolves around shaving with a straight razor and drinking cocktails (both of which I can get behind).

My favorite tip from the many is:

Summarize the meeting. At the end of the meeting, quickly tick off a list of everything you have accomplished and resolved to do. Delegate tasks and make sure everyone is absolutely clear on what their individual responsibilities are. Don’t ask for “other business.” You’re just opening a can of worms. Remember, if it’s not on the agenda, it’s not going to be discussed.

I’ve been to lots of meetings dominated by lots of talk which feels productive.  It’s only later, when absolutely no action has been taken as a result of the meeting, that you realize not only was the meeting ineffective, but you’ll never have that hour of your life back.  You’ll be on your death bed, and your dying words will be “If only someone had set some action items.”

In the comments share your meeting horror stories or tips.

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Nov
0

3 Big Ideas from Big Communications’s Lisa Stern

culture, entrepreneurship, personality, start-ups

3 Big Ideas from Big Communicationss Lisa SternWe had the pleasure of taking the current team of Bizdom entrepreneurs (whom I am calling Team Hammer Pants, since they can’t come up with a team name of their own) to Big Communications, to meet with Lisa Stern, the Founder.

Lisa gave a great overview of the founding story of Big, as well as a description of their culture.  I could easily write a dozen entries on Lisa and Big (hell, I could write one just on how great their offices are – they are absolutely beautiful), but I want to focus on 3 Big takeaways from their story and culture.

3 Big Ideas from Big Communications

1. The business you find success in may not be the one you start in.

Big originally started purely doing video production.  Now they handle communications for health care companies.  This isn’t to say your initial idea is unimportant and therefore unworthy of proper research.  Rather, the lesson here is that you’ve got to follow the natural wave of your business and fish where the fish are – build on the success you earn, rather than the success you wish you had.

2. Passion means emotional investment in what you do.

This was a point I tried to emphasize at my TEDx presentation.  It’s not about doing what you love, but rather loving what you do.  I’ve heard lots of people talk about ‘passion’ and seen people confuse obstinacy and unfounded pride with passion. Having passion doesn’t mean that you can magically will something to happen.  Instead, it means bringing an emotional investment to what you do – finding the love in what you do.  When I asked Lisa what she’s currently passionate about she said “I’m really passionate about how we staff projects.”  Trust me, no one says “When I grow up, I want to staff projects!”  But she’s found the interest and passion in that task, and that’s a beautiful thing.

3. Vision is about having a goal you’re moving towards

Another great insight into an oft-cited entrepreneurial trait: vision.  Vision isn’t about having a grandiose vision about what success will look like (yachts or being on Oprah), but rather about having a very specific goal you’re moving towards.

Bonus idea: Not really a bonus idea, but rather a combination of the final two, and it’s this – any old passion or vision won’t do.  You’ve got to have a specific type of passion and vision to be a successful entrepreneur.  I meet a lot of people who are very emotional (what they think is ‘passionate’) and have a well defined vision for themselves (usually of them on a yacht with Oprah), who think as a result they’re entrepreneurs.  I can give you a well defined vision of what I’d do if I won the lottery (it wouldn’t be Oprah or a yacht), but that doesn’t mean I’m going to win it.  I’m extremely passionate about fantasy football, but that doesn’t mean I should make a career out of it.

What do you think? Will any old vision or passion do? Or do you need something more?

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