Building a great business, one that matters to you as the founder and makes a positive difference for customers, is not a transaction. It is an investment. And I don’t think we are investing the right way in terms of our time, energy, and resources to create companies that are meaningful and last. But we can – we just need to disrupt the way we approach being an entrepreneur.Read More
The projections made great sense! The numbers were all based on reasonable expectations, and yet here we are – again.
Year after year I went through this humbling reality, facing the fact that the revenues I had predicted were not attainable.
The stress of setting growth rates for your business can be overwhelming. You want to motivate and challenge people with stretch goals (we’ve been told how important they are) and also impress shareholders with your potential. But underlying it all is the dread that these numbers may not be based on solid assumptions.
I mean projections are just that – projections. And they can have a big impact on the environment of your company. If you are not meeting numbers – even if they aren’t realistic – it can cause a great deal of pressure, more slumping than stretching.
I am cycling by the sea but I don’t even see it. There is just one thought on my mind, and it won’t budge:
Can I work through the struggle and build another business?
Usually when I’m on the bike, my mind is free and I just enjoy the ride. Especially when I’m by the ocean on a sunny day. But recently the struggle was getting in the way. Not the pain from the bike – as a cyclist you embrace that suffering and enjoy it (sort of). But as an entrepreneur, the struggle is always there. The trick is to keep your head up and keep moving forward.
Being an entrepreneur is about the struggle. When your business succeeds, the rewards are incredible! Not just in financial terms but because you are really making a difference. You prove that your idea was valid. You build a great company that creates value for others, and stands the test of time and change. You retain your independence and are driven by passion. But to get there you need to struggle and climb some major obstacles.Read More
I never really understood how much my feelings affect the performance of my business until going through a deep depression and coming out the other side. My mood changed everything. And not necessarily for the better.
Culture can be the greatest asset of a business. It dictates how things are done…or not done. When you start a new company, you don’t think much about the culture, and almost not at all about how your mood can set the tone. But what you bring to work as a founder can create harmony or discord, result in boundless energy and growth or killing your strategy and any hope of engagement. Whether you wear your feelings on your sleeve or suppress them, they play a big role in the success of your business.Read More
As an entrepreneur, you probably often wish you were working in an industry with better growth potential. But would it really be better for you?
I am currently considering that question when it comes to my own business. I am starting over. Again. This time, I can build the company exactly the way I want right from the beginning. And yet I still catch myself wavering over the right decision.
In my new venture, I am blessed with three opportunities, or markets, to focus on. Two of them are relatively easy – one has been virtually handed to me on a platter. I would be fully operational and profitability by November. The work is innovative and engaging. The second would take about six months and be slightly different space. Interesting again and profitable. And yet I hesitate.Read More