May 18th, 2020
One thing that's holding me back is my stubbornness and my unwillingness to "compromise my vision".
Maybe other entrepreneurs can relate to this, but I'm afraid that changes I make to my product / strategy / customers will lead me to build something that strays far away from my "vision".
I'm scared of that because I don't want to build a business that I "hate".
I'm scared of becoming that founder who's (years later) depressed, and slogging away at a business that he/she never intended to build.
So, to prevent that, I think I take actions (or inaction) that negatively impact the success of my business as a potential sacrifice for my happiness later.
I think that, in a lot of ways, this is a good thing. All founders must make sacrifices like this.
But I think this logic is flawed.
The worry should never be about the "vision" - because the "vision" has nothing to do with the implementation.
If your vision is to revolutionize the hotel industry, then don't worry about how you will do that. You might have an idea, but is it good? You can't decide that. Only the market can.
Test that idea, and then change it - test more ideas. You're still following your "vision" of revolutionizing the hotel industry, but you're just finding a better way to do it.
As I learn more about being an entrepreneur, I think a lot about this.
When I look back on some of the reasons why I wanted to start my own business:
- to build cool things,
- to create something out of nothing, of my own,
- to get fame, status & make money,
- to own my time & freedom
I'm starting to realize that the road to success has little to do with those things. Those things are more of the "outcome" - they are just some of the awesome things that might happen if you are successful.
If you let the "how" (your ego and preconceived notions) get in the way of the "what" (the vision), then it might break your business and/or cause you to burn out.
I'm the biggest offender of this, and it's what is causing me (and my business) pain.
Picking the most effective "how" is the job of the entrepreneur. I think that's probably how VC's and investors judge entrepreneurs. Not on their idea, but on their ability to identify the best "how".
"My way" (or "your way") might be a good place to start, but it won't be where I will end - if I want to make a bigger change than myself.
But it is also important to balance this. The flip side of this is the greedy entrepreneur that starts with a good business and eventually develops a pyramid scheme.
That's where the vision comes in. Don't compromise the vision, but be ego-less when it comes to how you accomplish that vision.
Maybe other entrepreneurs can relate to this, but I'm afraid that changes I make to my product / strategy / customers will lead me to build something that strays far away from my "vision".
I'm scared of that because I don't want to build a business that I "hate".
I'm scared of becoming that founder who's (years later) depressed, and slogging away at a business that he/she never intended to build.
So, to prevent that, I think I take actions (or inaction) that negatively impact the success of my business as a potential sacrifice for my happiness later.
I think that, in a lot of ways, this is a good thing. All founders must make sacrifices like this.
But I think this logic is flawed.
The worry should never be about the "vision" - because the "vision" has nothing to do with the implementation.
If your vision is to revolutionize the hotel industry, then don't worry about how you will do that. You might have an idea, but is it good? You can't decide that. Only the market can.
Test that idea, and then change it - test more ideas. You're still following your "vision" of revolutionizing the hotel industry, but you're just finding a better way to do it.
As I learn more about being an entrepreneur, I think a lot about this.
When I look back on some of the reasons why I wanted to start my own business:
- to build cool things,
- to create something out of nothing, of my own,
- to get fame, status & make money,
- to own my time & freedom
I'm starting to realize that the road to success has little to do with those things. Those things are more of the "outcome" - they are just some of the awesome things that might happen if you are successful.
If you let the "how" (your ego and preconceived notions) get in the way of the "what" (the vision), then it might break your business and/or cause you to burn out.
I'm the biggest offender of this, and it's what is causing me (and my business) pain.
Picking the most effective "how" is the job of the entrepreneur. I think that's probably how VC's and investors judge entrepreneurs. Not on their idea, but on their ability to identify the best "how".
"My way" (or "your way") might be a good place to start, but it won't be where I will end - if I want to make a bigger change than myself.
But it is also important to balance this. The flip side of this is the greedy entrepreneur that starts with a good business and eventually develops a pyramid scheme.
That's where the vision comes in. Don't compromise the vision, but be ego-less when it comes to how you accomplish that vision.