I was sitting there at the meeting as part of the audience.
It was a meeting of perhaps 25 persons, mostly consisting of small but budding
entrepreneurs from rural areas across Jamaica – each with (what I thought) was
an excellent skill at creating at least one unique product. They were great at
creating the product, but they were there eager to learn how to make money from
it, and at the same time to showcase their fabulous inventions.
As the meeting began, I was approached to speak for a few
minutes to this audience and hopefully offer some tips from my own experience
as a serial entrepreneur. As it turns out, being forced to formulate thoughts
in an extremely small amount of time, forces one to think about the top most
important things that would be relevant to a budding entrepreneur. I later
thought to myself, that had I time to prepare, the context would have been more
eloquent, but perhaps less actionable.
What I jotted down in those final minutes before making my
way to the podium were four letters representing an acronym for what I thought
were the four words that I would want to leave this audience with at the end of
my presentation. Fortunately for me, these four letters spelt A-C-T-S which then
led me to begin speaking about the first of those four words, “Action” (don’t
you love it when things work out like that).
Action
I am not sure there is a more important point than this.
They say that 70% of success is just showing up, and I have rephrased that in
my mind to say that 70% of success is just doing something. I often talk to
persons that have what I think are very brilliant ideas, which I have yet seen
them act on. Often, they are perfectionists waiting on all the stars to align
before taking a few steps. I believe that they might be waiting for quite a long
time.
It is important in business not to always over think things
– especially at the start – as business isn’t just science, but also somewhat
art. Diving in, getting your feet wet- this is the most important aspect to
getting that heavy ball rolling. Once a ball is rolling, it is far easier to
tip the ball in different directions. Once you’ve jumped in the pool, you’ll be
surprised at how you will learn to swim because you have to. It is more important
to do something with 70% effectiveness or correctness, than to have it 100%
perfect in your mind but never act on it.
Common Sense
I knew for most of my life I wanted to eventually be a
business owner. And I use to believe I needed to receive some sort of
professional training to do this, leading me to a Masters Degree in Business
Administration. Several businesses later, I look back and realize that most of
the decisions I made on a daily basis all came from using everyday common
sense. While I didn’t have formal Entrepreneurship training, what I have been
was a customer my whole life, and hence I could always think from the mind of a
customer in many of my decisions. We don’t need to know about everything about
our business – that’s what hiring people who are better than you in different
areas are for. What we need is a passion for what we are doing, the willingness
to do it, the decision to take forward actions, and the rest will follow – one
common sense decision at a time.
Time
They say you become an expert at something after doing it
for 10,000 hours. Now, while I haven’t fact checked that, it is certainly
evident to me that once “diving in the pool,” and being in the world of your
business as much as you can, that you WILL become an expert at it. Wherever we
put our energies, we tend to expand these areas of our lives. If we are
constantly thinking about our business for example, in random discussion with
strangers, we might tend to lead a conversation towards what’s on our mind all
the time, and pick up a few things from them we never thought about.
It wasn’t about the formal training. It wasn’t about the
perfect planning. The idea is, after we have dived in, and continued to swim
for hours and hours, we eventually become an expert swimmer. Business, as in
life, teaches us from our mistakes. By practice, we become better.
Subconscious
It seems as if children of entrepreneurs often make an
easier transition to becoming an entrepreneur.
Our subconscious mind plays a major role in who we become,
and recognizing this powerful elephant is extremely important in making our
first steps in business. Many may grow up with an influenced belief, for
example, that entrepreneurship is taken on exclusively by the extremely smart
or the extremely rich. Or that it is something unattainable or too difficult to
attain.
And so many settle for the mental safety net of mediocrity.
Recognizing fear, or the power that your mind can be having
over your progress, is not always easy - as we are not trained for this. The
part of your brain that is reading and understanding this writing is our
conscious brain, and that can only take us so far. The more powerful part of
our mind is our subconscious, and that part is more of an influence over our
actions than any other single thing. It can be holding us back in ways our
conscious mind has yet to recognize. This therefore, is an extremely important
area for us to focus on in our goal to become an entrepreneur, or even just
better people.
So how do we retrain our subconscious? Firstly, we must take
quiet time to self-reflect and recognize the various ways it might be holding
us back. Recognizing this alone will give us half the success. The other half
will be actively taking steps (using our conscious mind) to fight the
tendencies that our mind has to tell us we are not good enough or smart enough
or rich enough or that it will be too much work for us to handle or that the
business will fail. By taking daily steps against this tendency, and constantly
and consciously practicing this, we will eventually start retraining our
subconscious mind.
Let us say a fear of failure is holding you back.
Recognizing this will be extremely important in your process. The next step is to
mentally visualize the worst case scenario if the business fails. Are you
prepared to live with the consequences? Once you have consciously visualized
this worst case scenario and moved past it, you have essentially told your
subconscious to shut the ____ up!
As with all entrepreneurs, I am in a constant learning
experience of life and business. And as I have taken those “first steps” many
times, it is my hope that I can share with you the few pointers I have learned
therein, with a hope that somewhere in that you may gather some useful tips.
So dive in and take the first (even if not perfect) steps.
Spend some time and energy in the field you are interested in and you will be
surprised at how far that goes in making you an expert in that industry. Tap
into your common sense, and as part of that, use that common sense to fight the elephant of your subconscious mind!