Obsessive? Yes. Well mannered? Not so much.
Enterpreneurs and early stage startup teams are really, really excited about what they do. And they're obsessive. Just ask them a casual question on what they're doing, and they'll launch into a long impassioned epic (a monologue of course) on their great idea, and how it is going to change the world (or, if they're just a wee bit realistic, the world as they know it). In some ways it is good thing. They have to be passionate and obsessive because it is very difficult to start a business without that fire and spirit.
But unfortunately they do tend to forget their manners. While they're quite capable of nattering on about their startup, they miss what they learned back in kindergarten. Sharing. Asking 'How are you doing? What are you up to?". Forgetting these basics don't make for good conversations.
I just got back from a coffee with an old friend who I haven't seen in a few years. He's moved to the other coast and we just got an hour of his time on a vacation stopover. He used to work with me, and is really good, and I wanted to explore the idea of having him join me in some way in my new venture. There was a 'hi', 'how are you', some comment about the flight, and I then spent the rest of the time pitching the concept and all that it could be. It is only after I left I realized that I didn't know anything about what's going on in his life other than he was employed and doing 'well' and whatever may have come from the holiday emails. Wow. And I thought I had the Dear Abby/Miss Manners/Emily Post views of good conversation down.
It's a startup symptom, particulary visible in the early stages. I often get together with others who're in a similar boat, and the only thing that ensures that we all get a chance to talk is that each of us is chomping at the bit to talk about our baby (coming to think about it, the behavior is very similar to that of new parents - with the occasional website or powerpoint showing-off instead of a baby pic). This is also due to the fact that in the early stages we don't have much of a life (at least what we can talk about with zest) outside of the startup - again the similarity to new parenthood.
I do have the good sense to not obsess (at least not much) with those who're not really interested or involved in this space. That covers a decent percentage of friends and family who get the thumbnail and then move on to discussing dinner and gossip. So they haven't dropped me from their circles. There's hope yet.
Channeling the inner entrepreneur who views life as a startup. Musings about people, their spirit, the startup ethos and the entrepreneurial attitude, with an emphasis on education and social ventures. The 'how-to'? Not so much. But definitely the why, the what and the whatever.
It's gotta be new.
I don't know why it is that so many entrepreneurs want to come up with an idea that no one has done before. Is it ego? Or is it because if it's not the new new thing it is no good? If someone has done it already is there no way you can compete? Or is it too much Star Trek exhorting us to go where no man (person) has gone before?
To be honest, I think ego has a big part in it. It is such a kick to think up something new and different. You talk it over with a bunch of people and they're all excited because they've never come across it either, and it's all euphoric until you find someone else not only had a similar idea, but has got there first. But realistically, if you come up with a good idea, chances are there are other people like you who've come to a similar conclusion. There are very few original ideas. Mainly because there are very many smart people around (yeah!).
This can bring one to full stop. If you notice this theme in the past few posts it is because I'm going through this experience right now. For three months, I was doing my research and I talked to a lot of people who would be potential customers. They loved what I was proposing and could think of only one option that was currently available, but it wasn't quite suite to their needs. Yes, it was exciting to see an unfilled need and dream up a solution. But I think having done this made me both pragmatic and resilient. I didn't quite believe that no one had thought of this yet, and if that was truly the case, there must be a good reason for it. And then from a chance conversation with a friend I found another company that's doing something similar, though not exactly the same thing.
In a way, it was a relief to see someone else out there, it's easier to ride in their wake. There are many investors who'd advise you to not be the first, as you'd be the one with the arrows in the back - its not called the bleeding edge for nothing. And as I've mentioned before, competition is a good thing. So, it's now all competitive analysis and more research, and I think it'll turn out all right.
But all said and done, if you do come across something absolutely new and never before done, and you're convinced it is the next big thing, and you can make it happen - that would be an amazing ride and the sweetest thing. Go for it.
I don't know why it is that so many entrepreneurs want to come up with an idea that no one has done before. Is it ego? Or is it because if it's not the new new thing it is no good? If someone has done it already is there no way you can compete? Or is it too much Star Trek exhorting us to go where no man (person) has gone before?
To be honest, I think ego has a big part in it. It is such a kick to think up something new and different. You talk it over with a bunch of people and they're all excited because they've never come across it either, and it's all euphoric until you find someone else not only had a similar idea, but has got there first. But realistically, if you come up with a good idea, chances are there are other people like you who've come to a similar conclusion. There are very few original ideas. Mainly because there are very many smart people around (yeah!).
This can bring one to full stop. If you notice this theme in the past few posts it is because I'm going through this experience right now. For three months, I was doing my research and I talked to a lot of people who would be potential customers. They loved what I was proposing and could think of only one option that was currently available, but it wasn't quite suite to their needs. Yes, it was exciting to see an unfilled need and dream up a solution. But I think having done this made me both pragmatic and resilient. I didn't quite believe that no one had thought of this yet, and if that was truly the case, there must be a good reason for it. And then from a chance conversation with a friend I found another company that's doing something similar, though not exactly the same thing.
In a way, it was a relief to see someone else out there, it's easier to ride in their wake. There are many investors who'd advise you to not be the first, as you'd be the one with the arrows in the back - its not called the bleeding edge for nothing. And as I've mentioned before, competition is a good thing. So, it's now all competitive analysis and more research, and I think it'll turn out all right.
But all said and done, if you do come across something absolutely new and never before done, and you're convinced it is the next big thing, and you can make it happen - that would be an amazing ride and the sweetest thing. Go for it.
Fear Factor
I think every entrepreneur, and especially the first time one, gets very familiar with fear. And if he/she doesn't feel any fear ever, chalk it up to a severe and lamentable shortage of imagination.
The fear can come in different flavors with differing levels of intensity. The fear of not making payroll, or having funding fall through or a customer renege - all these come and go, and possibly become less potent with repetition. On the other hand, the 'getting started' fear is a strange one as it insinuates itself very subtly into the general exhilaration and obsession that permeates the ground-zero stage, and if you haven't committed to your new venture it could paralyze you from ever doing so.
A lot of this fear is due to the 'what if's. And much of it can be diffused by thinking them through.
- What if you don't have what it takes? Hunh? You should be past this if you're seriously exploring your startup idea. Most would-be entrepreneurs can just make like the little blue engine and barrel through this one.
- What if you don't get funding? That's when you look at Plan B, or C or D, bootstrapping, services, whatever, but you need a Plan B.
- What if you can't find the right people? If you look hard enough they'll be there, and again, Plan B may involve growing your team with creative options.
- What about the competition? Hmm. If there's no competition, maybe you should take another look because there may be no market either. Competition just makes you work a little harder and smarter at figuring out how you're going to set yourself apart and win customers. This comes with the territory, embrace it.
- What if the market doesn't need your idea? If you've done enough market research to figure this out, that is awesome. But also assume that you wouldn't have gotten this far just on a whim, your vision had some substantive foundation. Maybe you need to adjust your original concept, explore different market segments - again, use your market research to work a little harder and smarter at figuring out where you should be going. And remember, many entrepreneurs just 'put something out there' with the intent of refining it based on market response - a great approach if you can manage it.
It is very helpful to remind yourself (I can attest to that!) that these fears, while quick to pop up as a reaction to some piece of information (such as a new competitor), mostly deflate with an application of a little reason, a little grit and a huge chunk of enthusiasm. Passion helps! (See previous post on The Balancing Act).
The fear can come in different flavors with differing levels of intensity. The fear of not making payroll, or having funding fall through or a customer renege - all these come and go, and possibly become less potent with repetition. On the other hand, the 'getting started' fear is a strange one as it insinuates itself very subtly into the general exhilaration and obsession that permeates the ground-zero stage, and if you haven't committed to your new venture it could paralyze you from ever doing so.
A lot of this fear is due to the 'what if's. And much of it can be diffused by thinking them through.
- What if you don't have what it takes? Hunh? You should be past this if you're seriously exploring your startup idea. Most would-be entrepreneurs can just make like the little blue engine and barrel through this one.
- What if you don't get funding? That's when you look at Plan B, or C or D, bootstrapping, services, whatever, but you need a Plan B.
- What if you can't find the right people? If you look hard enough they'll be there, and again, Plan B may involve growing your team with creative options.
- What about the competition? Hmm. If there's no competition, maybe you should take another look because there may be no market either. Competition just makes you work a little harder and smarter at figuring out how you're going to set yourself apart and win customers. This comes with the territory, embrace it.
- What if the market doesn't need your idea? If you've done enough market research to figure this out, that is awesome. But also assume that you wouldn't have gotten this far just on a whim, your vision had some substantive foundation. Maybe you need to adjust your original concept, explore different market segments - again, use your market research to work a little harder and smarter at figuring out where you should be going. And remember, many entrepreneurs just 'put something out there' with the intent of refining it based on market response - a great approach if you can manage it.
It is very helpful to remind yourself (I can attest to that!) that these fears, while quick to pop up as a reaction to some piece of information (such as a new competitor), mostly deflate with an application of a little reason, a little grit and a huge chunk of enthusiasm. Passion helps! (See previous post on The Balancing Act).
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