Small Business

The 3 Crucial Personality Traits You Need To Start A Business: Part 1 - COMMITMENT

You meet commitment at the intersection of excitement and fear.

You meet commitment at the intersection of excitement and fear.

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?

How to find a resource! Hint: Be afraid...

Merriam Webster defines resource in numerous, but related, ways:

  • a possibility of relief or recovery
  • a source of supply or support
  • a source of information and expertise
  • a natural source of wealth or revenue
  • an ability to meet and handle a situation
  • {and most importantly...}
  • a natural feature or phenomenon that enhances the quality of human life

Let's get the obvious one out of the way. When we say "someone has the resources for x...," it is often clear that we are referring to money in some way. A resource in that sense is almost like a relaxed recognition that money is there and can be accessed as necessary.

Okay, great. Let us move on. Resource comes from Old French meaning "a source or spring", refers to "a means of supplying a want or deficiency", and "to rally and raise again." It also comes from Latin's root word for resurgent, relating to the idea of rising from some lower point.

I think that is pretty cool. We seek resources when we acknowledge a need of our own or a gap in our knowledge, however big or small.

The first time I ever made my own appointment at the dentist's office when I was younger, I was petrified. The fact that my parents had made appointments for me before that point made me think that there was this grand, special way to do it that only they were allowed to know and that there was definitely absolutely a right or wrong way to do it. In other words, a high probability I would fudge it all up and be eternally ashamed. I was lucky to recognize my mom as the resident expert at the time on this knowledge that I needed so, what did I do, everyone? Say it with me: I. Asked. Her. For. Help...! Very good. 

She was all like "Yeah, just tell them that you need a cleaning and see what days they offer might work." 

Am I on candid camera? Was that it?

You know the emoji of the narrow, focused eyes and the one pensively scratching its chin? Combine those two and that is the face I remember giving to how simple her answer was. This is how a resource presents the possibility of relief and recovery. Not only was all of my pre-pubescent anxiety immediately extinguished but I also acquired a new skill of confidently picking up the phone and advocating for something I needed from the big scary dentist's office.

Resource seeking can be as simple as my younger, cuter self calling the dentist or as complex as someone with an epic idea wanting to start a business (I know there are bigger examples but no, I am not going to mention the kind of resources our marvelous president should definitely seek right about now...).

I have met so many people in the startup world and, having created two startups myself, there is an endless need for resources in the form of information and expertise.  Even though I listed what the dictionary calls a resource, actual resources are completely subjective. My clients see me as a resource for personal branding and building narratives, but the way in which they need that is unique to them and their journeys. 

A common misconception is that seeking a resource is a one-way effort. But instead it is an exchange. A matter of teamwork.

You are the one that has to break the ice, though.

No one will know you need their supply and support unless you put yourself out there in an honest and authentic way. I was shaking in my socks when I asked my mom about the stupid dentist but my vulnerability could not have been more authentic because, well, I was terrified to make the stupid phone call. 

I prepare for every single meeting, phone call, email, text message, what have you, when I am seeking aid from a resource so that I am able to not only honestly ask the question I want to ask but also contribute back to the discussion and subsequently put the work into applying whatever was taught to me. It becomes a mutualistic interaction around an agreed topic.

I learn from my clients every time I speak with them and it is my job to provide resources to them in any form they need. Narrative evolves (stay tuned for more on that) and so do everyone's needs for knowledge, including my own. If we continue to practice our authentic expression of vulnerability when we realize we don't know something, everyone will benefit and their eventual resourcefulness will be filled with new skills and knowledge that they can then share back to the world themselves. 

Remember, the origins of the word resource reiterate the theme of rising up from a place of deficiency. A resource can empowering, uplifting, helpful, and exciting if you are open to seeking it.

I am humbled that the mission of my companies and the mission of so many companies with which I am acquainted echo the last listed definition of the word: the enhancement of human life. 

Whether you want to call the dentist or start a company or anything between and beyond, I guarantee there is someone who can relieve your angst and I hope you will take the step to reach out. We will all be made better for it. 

You'll never read this, will you?

Blog - one of the goofiest but most recognizable words in the world. Like a lovechild of "blah" and "fog". Both super exciting. The first recorded mention of the word was in 1997 as part of the word "Weblog" before its separation into the phrase "we blog" allowed it to become a verb in addition to a noun. The term "Weblog" makes a whole lot more sense, let's be real. Now blogs are as ubiquitous as thermostats: random instruments that are secretly necessary in daily life. Blogs often take the form of a lack of form, leaving it up to the writer to craft it the way they want and about whatever they want (SPOILER ALERT: we'll cover this a lot more in a later post).  

Whether you're a quintessential millennial (like me) or a well-informed baby boomer, you very well know how blogs are the rebellious middle child between a tweet and a novel. It has stuff to say and it's ready to argue, but it's going to argue it in 600-1200 words and then turn stubborn, holding fast behind the words once it's published. The younger sibling will comment on it, the older sibling will discuss it on their book tour, but the middle sibling will remain stoic. 

Like the events that punctuate a culture's history, blog posts are the stories that compose the blog's overall narrative. The first time I wrote a blog was in the summer of 2011 when my sister and I took an epic road trip around the west coast for two weeks, documenting how many pastries we ate and how many times her iPod Classic (yup, remember those? The iPods that could store a hundred thousand songs or something?) thought it was a good idea to play Christmas songs on shuffle. We published the blog because we knew the trip would be an adventure and our closest friends and family wanted to be included in that adventure (it was amazing. If you happen to find it in the internet-land, please enjoy).

That's what blogs do: they connect people. Even if you don't read this post - let's be honest, you likely won't; it's the first post - I now get to be stubborn about a topic. And you ought to pay attention, because everything I will talk about actually relates to your life. And yours. And yours. And mine. That's important to understand so I'm glad you read all the way to this point (you did read this, right?).