This week marks the start of three posts on the most crucial personality traits needed to start a business. Even though I will discuss it in the context of entrepreneurship, each of these themes can be applied to other jobs, workplaces, and career shifts. All are welcome.
A lot of my clients and students fall into the classic creative trap of focusing so much on the idea of their business and the excitement that they feel that they do not step back and consider the logistics of its execution.
This is normal.
It is so exciting to come up with an idea for a business that you think will make millions and change the world. I have come up with dozens and dozens of ideas for businesses and collaborations that feel cool when I imagine them. When I think a second later about what would be required to execute them, I am not excited. Even with the companies I do have, there have been several points where I have had to pivot because the block I ran into was something about which I was not excited (often some kind of marketing, it did not feel authentic to me and I did not have the funds to hire out for it).
As a result, I tabled it and focused my energy on what was energizing.
I am getting ahead of myself, though. LESSON #1 is on the COMMITMENT to your idea.
We are creative in our own ways and our values allow us to care about different things. When we come up with an idea for a business that aligns with our values, it is like a nuclear bomb of exhilaration in our circulatory systems and brains. We feverishly white board our ideas and diagram out our product options and design logos and taglines and what our office will look like and what color post-it notes we will buy, but we do not think about buying those post-it notes tomorrow, getting an accountant to track our expenses, then talking to people outside of our team to see if the product could be helpful.
Why? Because it is not exciting. It is not fun. It is not time spent in La-La-Land dancing with Ryan Gosling and Emma Stone on sets only your imagination can create. The logistics are the hard, grey cinder blocks that keep you down here with the rest of the dirty world and which remind you to pay the bills and construct a real product.
This is the difference between having something to say and committing to starting and running a business.
If you have a great idea, you want to share it with the world, but you do not care about scaling a business that becomes your career, that is fine. Own it. Write a blog, sell coffee mugs, give talks, and leave it there.
If you have an idea and want to make it a business, you must commit to exactly that.
Act on the assumption that your business will grow. How does that demand make you feel? Are you excited about that opportunity for growth, or does the idea of keeping up with the growth repulse you?
This is the most important question to ask yourself as a beginning entrepreneur. You could be a rock star undergrad Entrepreneurship major prototyping an awesome product, but it will not go to market if you are not committed to the grind of networking and pitching. You could be a 30-something who just received huge funding for trials of a new miracle treatment, but you have to be committed to the long game of the trials and execution if you want to match value to that investment money.
Entrepreneurship is hard. Much hustling is required. That is why taking a long awkward look at yourself in the mirror and asking "To what about my idea am I committed?" is the most important first step.
I started desiring entrepreneurship back in high school, and not until I formulated my very first real true business idea in college did I stop and reflect on why I wanted to own a business. My first idea was cool and super creative, and had I pursued it I probably could have cornered the market and quickly done well with it, but it was not exciting to me at that moment. I was not interested in what was required of running that business at that time.
So I waited.
Desire only grew, which is so cool, and the opportunity arrived right when I was ready to commit.
I still did not know what would go int to the day to day logistics, but the difference was that I was open to committing no matter the responsibility.
In conclusion, whether you are a budding entrepreneur with an idea, you have started a business, or you have owned a business for years, check in with yourself. What is your commitment level? What do you care about now and how has that changed over time? To what about your idea can you commit yourself RIGHT NOW? What feels exciting to you within your brand?