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I share what I learn each day about entrepreneurship—from a biography or my own experience. Always a 2-min read or less.
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Life Lessons
Like It or Not, Times Change
Today I had a conversation about change. Sarah is experiencing significant change, like everyone, as a result of COVID-19. She’s feeling a lot of angst. She wanted to know how I’m dealing with virus-related changes and what I’ve learned from navigating change over a decade as an entrepreneur.
The first thing I noticed is that Sarah rejects change. She fights it if she didn’t initiate it. She will change eventually, but only after the pain of not doing so is unbearable. But change can be caused by something out of our control (like a pandemic). Fighting against something you can’t control wastes time and energy. The world doesn’t care what we think. We can either accept change and get on with things or struggle against it and endure anxiety, or worse. Regardless, the change keeps happening.
I also noticed that Sarah sees most change as an obstacle. That’s her perspective, for whatever reason, and it affects how she copes. It would help her to realize that while change is inconvenient, it opens up new possibilities. Thinking about them instead of dwelling on present discomfort can illuminate opportunity.
I view change as inevitable. The world is constantly evolving. That has always been true and it may be the only thing that will never change. With that perspective, I try to embrace most change. Doing so has allowed me to take advantage of some great opportunities and spared me avoidable stress.
The next time you experience change (now, maybe?), consider accepting it and focusing on the opportunities it presents.
Not Recognizing Greatness Hurt Me
One thing I didn’t do well early in my career was recognize greatness quickly. Someone close to me had to point it out (much later, typically). People . . . opportunities . . . accomplishments—it didn’t matter. For whatever reason, I wouldn’t see it as soon as other people did. And when I did, sometimes it was too late.
During my journey building CCAW, I realized that I didn’t recognize greatness quickly. I didn’t like this about myself and decided to change it. My knowledge gap was my first issue. I tackled it by reading widely in areas I deemed important personally and professionally. This gave me a baseline. When something was superior to that baseline, I could readily identify its greatness. My personality was another obstacle. I tend to be laid back and have blind spots when it comes to people. I can’t change how I’m wired, so this was more challenging to solve. I learned to ask the opinions of colleagues or friends who deeply understand people when I encountered someone I wasn’t sure about. Their observations helped me recognize when the person was great. Not the most scientific approach, but it works for me.
Not being able to recognize greatness hindered me in a few ways. It slowed my decision making, so I missed out on some great opportunities. And I didn’t allocate the appropriate time and resources to great people and opportunities.
Times change. Today I had a conversation with a buddy about an investment I made that has done well. He asked how I knew the company would succeed before other people did. I told him that I quickly recognized its uniqueness because I’ve seen lots of companies in the space and done lots of reading about the space. This company’s performance was rare when I baselined it against what I usually see. I believed this company was great and invested in it confidently.
Some opportunities really do come along only once in a lifetime. Learning to know them when you seem them can be life changing!
What Will Your Epitaph Say?
Years ago I read a post by Steve Blank that stuck with me. Steve is a serial entrepreneur, author, and professor at Stanford, Berkeley, and other schools. He’s a very credible person when it comes to entrepreneurship. Today I thought about the post and read it again. It’s titled Epitaph for an Entrepreneur, and it reflects on his entrepreneurial journey. In it, he shares things he learned about balancing his personal and professional lives.
One thing I took away from it was Steve’s evolution from a philosophy of “live to work” to one of “work to live.” I can relate. When I started CCAW, I went all in. I worked lots of hours and didn’t have much time for anything else. It was success or bust. Work was my life. Well, CCAW was successful and now I’ve entered a new phase. Not quite the same as Steve’s, though. Now, I work to help others be successful. My hope is that they will do the same when they can, creating a flywheel of sorts over time. I also work to enjoy experiences and time with people I care about. Tomorrow isn’t promised, so we have to make the most of today. I guess I work to live now—or at least I’m moving toward it.
Steve’s post is insightful and thought-provoking. It shows how the entrepreneurial journey (and life for that matter) evolves over time.
This life isn’t practice for the next one. Steve decided that he would prefer his epitaph to say, “He was a great father” rather than “He never missed a meeting.” What will your epitaph say?
Sometimes the Universe Doesn’t Like Your Plan
I caught up with a founder who shared his recent lessons learned. The pandemic forced him to shift his in-person educational events to Zoom. The lack of personal interaction initially concerned him. He worried about his customers not being able to interact and build relationships. In the end, he didn’t have a choice, so he decided to make the best of it. Soon, he realized he had an unexpected chance to capture content. He recorded the Zoom sessions and is building a content library and supporting marketing materials. He will offer the content to future customers as well as those he has now.
His story reminded me why he’s an entrepreneur. His positive attitude helped him adapt to a bad situation. Because he sees his glass as half full, he recognized an amazing opportunity and took advantage of it. I loved his outlook and approach. In the end, he exceeded his pre-pandemic expectations.
Sometimes the best-laid plans go awry. It happens to all of us. You did everything you were supposed to, but it wasn’t meant to be. Some things are out of our control. But these hiccups don’t determine whether we ultimately succeed or fail. In my opinion, perspective and response do. How we respond to adversity is 100% within our control. Our response is usually a reflection of our perspective. If we believe the cloud we’re under has a silver lining, chances are we’ll find it.
Next time things don’t go as planned, don’t fret. Consider what you can do to make something good happen.
What I Learned About My Motivations
What motivates an entrepreneur is important. The journey is tough and full of emotional highs and lows, and it usually takes many years. The right motivations help you make it to the finish line. Yesterday I wrote about my why, which is one of my motivators as an entrepreneur.
I’ve noticed a few things about my motivations over the years. I can have more than one at a time. But one—my why—always dwarfs the others. It’s usually the only one that I have strong convictions about. Historically, I’ve been happier with decisions based on it. I call it my one-to-one rule, and it simplifies my decision-making and how I move forward. When I’ve made decisions to satisfy more than one motivation, it just hasn’t turned out as well.
My motivations change over time. I originally was passionate about helping automotive consumers because I was a car enthusiast (still am). Now, it’s helping entrepreneurs (small and medium-sized businesses). Why? Material things matter less as I mature. I still love cars, but not as much as I love people. These days, I’m motivated to help people I can relate to.
Motivations are important. They helped me stay the course during my entrepreneurial journey. Do you know what motivates you?
Action Drives Change
I recently had a conversation with an aspiring entrepreneur. She’s passionate about an idea and has the technical training to execute it. She asked my opinion on various things, which I happily gave. But she still wasn’t quite sure what to do next. I asked, “What’s the single most important thing you can do right now?” She named something. I suggested she start by taking action on that one thing.
As we talked, I thought about my journey as an entrepreneur. Early on, I was full of ideas and didn’t know where to start. When I was working with others, we could talk endlessly. Sometimes the sheer number of possibilities felt paralyzing. Indeed, sometimes I was paralyzed. Over time, I learned that one thing matters: action. It was action that would change a situation. It was action that would turn my vision into a reality. It was action that would separate us from others. At a certain point, I had to stop talking and start doing.
That lesson took me years to learn, but I’m glad I did. Taking action on something, even when the way forward isn’t 100% clear, has been my key to progress. It changed my life.
I’m encouraged by the positive conversations we’re having as a nation about race and police brutality. They’re overdue and they’re helping us gain the understanding of one another that we so badly need. As you have these conversations, consider asking yourself a simple question after each one: “What action am I going to take now?”
What 90 Posts Have Taught Me
Today marks my ninetieth consecutive day of sharing my thoughts in posts. (I previously described how this started.) I recently spoke with a peer about my experience. He’s considering doing it too and wanted to ask me a few questions. By the time we finished chatting, I had had an epiphany: I understand things better when I share my thoughts widely.
I tend to think deeply about things. I try to understand by identifying connections that aren’t obvious. I used to ruminate and perhaps talk with one or two people very close to me. That approach was flawed. It didn’t help me achieve my ultimate goal: understanding.
It was a mistake to not share my thoughts or to do so only with a few like-minded people. I avoided opening up to others with different perspectives who would test my thinking or point out my blind spots (we all have them). I wasn’t really trying to understand, because I wasn’t talking to people who would be likelier to disagree with me. Naturally, I saw things only through the lens of my life experiences. My reality. I would come to understand an issue, or think I did, but since I looked at it only from my own narrow angle, I ended up missing things.
Sharing my thoughts broadly invites feedback. It sparks great conversations—opportunities for me to listen. I get glimpses of other people’s realities. I see things from their angle! I’ve learned that truly understanding something means getting as close as possible to a 360-degree view of it. The more people I talk to who are different from me, the closer I get to that goal.
Sharing my thoughts daily has illuminated all of this. Sometimes my initial thinking is wrong. (Whose isn’t?) When I share my thoughts with the world, I’m inviting others to help me acquire true understanding. Each person bridges a gap in that 360-degree circle.
I didn’t envision understanding things better as a benefit of sharing when I began posting every day, but it is, and I’m thankful for it.
I encourage everyone to share their thoughts more widely. It doesn’t have to be through writing; do it in a way that works for you. When you get feedback, listen. You’ll understand things much better.
Why’d They Do That?
In an earlier post, I shared my views on the power of listening to understand. I’ve continued to think about how we can help each other through this turmoil.
As CCAW grew, our team grew. I was no longer involved in every decision or even aware of every initiative. An empowered team making decisions without me was my goal. Inevitably, some decisions didn’t result in the desired outcome. Translation: things blew up sometimes.
No one is perfect, and my team members had good intentions. We were all in it together, working to build a great company. Naturally, we sometimes had different ideas about how to do it. Our different perspectives were valuable and often lead to amazing outcomes. But sometimes they caused us to miss the mark.
By the time something reached my desk, it usually meant a decision had worked out poorly. Instead of beating a dead horse, I learned to focus on the reasons for the decision. Why did you do it that way? Why was that the chosen path? What led up to you making that decision? Asking these questions was far more valuable than casting blame. I listened with the intent to understand, and ultimately, I did—I understood their why. Then I was able to work with them to develop solutions that supported their why.
Understanding why begets perspective. More importantly, it gives insight into the other person’s perspective. Understanding why someone makes the choices they do is a building block in (or even the foundation of) the positive working relationship required to achieve a common goal.
We’re all in this together, but that doesn’t mean we all see things the same way. Consider listening to understand why. When you do, you can begin to see things from a different perspective.
You might be interested in this short video about Colin Kaepernick's and Army veteran Nate Boyer’s desire to understand one another. It led Nate to “understand that we’re not that different, and we probably want the same things at the end of the day” and to a compromise that incorporated both perspectives.
Be part of the solution. Understand why.
What Can I Do?
I’ve been thinking deeply about what’s needed to see us through these troubling times. I shared some things I’ve learned in yesterday’s post. Today, as I sorted through my thoughts, I read a quote that resonated with me:
Try to understand men. If you understand each other you will be kind to each other. Knowing a man well never leads to hate and almost always leads to love.
~ John Steinbeck
The best way to understand someone is to listen to them—to not just hear their words, but to pay attention to what they believe and what they feel. When we understand each other, we can relate to each other. When we relate to each other, we can appreciate our differences and love each other. If we don’t listen, or we let their words flow by while we formulate our rebuttal, or we mindlessly dismiss them, we will not understand them (and we will give them no chance to understand us).
So where do we start? No one knows what the solution looks like. That makes it hard to know what to do. As an entrepreneur, I’ve learned the power of taking a step in the right direction even when the path is nearly invisible. Often, I had no idea what I was doing, but I sorted it out as I went along. Always, I kept my eye on the outcome I hoped for. I see our current state of affairs as no different.
If you want to take that first step, here’s my suggestion:
Reach out to someone with a background different than yours—someone with a perspective on life that you might not understand. Ask them if they’re OK and if they want to talk. If they say yes, just listen.
This act is simple but powerful. Anyone can do it. You might be interested in this short video about one person who did it and how it affected the person he struck up a conversation with. If many of us do it, we will open lines of communication that will lead to what we sorely need: an understanding of each other.
Be part of the solution.
Which Remake Are You In?
There’s nothing new under the sun. What happens today is the past with a twist. Think of a remake of a classic movie. Same storyline, new cast, better technology, bigger budget, a few plot tweaks.
Why am I talking about this? Simple . . . knowing it’s true improves the likelihood that I’ll achieve my goals. Being aware of the past improves my decision making at critical junctures. I’m less likely to make fateful decisions at forks in the road that jeopardize what I’m trying to do.
I’ve embraced history more than ever before. It never excited me in school. In fact, I hated it. Now, I enjoy it. It’s a vast trove of experiences to draw upon. The more I learn about history, the more clearly I see the present and understand what I need to do today and in the future.
I think that entrepreneurs should study history—at least the part of it that’s most relevant to them. History is full of great entrepreneurs who built amazing companies. Their stories may not make or break your journey, but they will inform it . . . inspire it . . . add interest to it.
Next time you’re in a difficult situation, consider: “What is this a remake of?”
