Being an Entrepreneur Isn’t Only About Having the Best Ideas
Entrepreneurship is a journey, and everyone goes through it a little bit differently to each other. Realising that there is a rise of individuals embracing the field of entrepreneurship, the profound thought that sparks our minds today is “what makes a successful entrepreneur?” That said, individuals who have longstanding passion and interest for their business idea, and are determined to connect with like-minded entrepreneurs have better opportunities to stay ahead of the others.
Starting your own business requires an idea to begin with – this is when entrepreneur is born. A business will only thrive when it is founded with a big idea that works – something that would fulfil the needs and wants of a specific niche market, or something that would further create business opportunity to diversify the products or services for other target markets.
Most people own the idea, and yet they are unsure of when and how to best execute it. Knowing that ideas play a significantly pertinent role in business, entrepreneurs who embark on this journey has to have the capacity to execute the ideas and turn it into a functional, viable organisation. And if not, they are bound to fail. For many entrepreneurs who are more of a thinker, rather than a doer, this is a frightening notion to know after all. As such, one needs to consistently be in action to be successful while they catch the entrepreneurial bug.
Take a look at the following article and case study from Harvard Business Review (HBR) by Andy Molinsky in which he shares how can idea-oriented entrepreneurs become doers and learn to raise money, pitch to investors, hire, and fire employees — especially when it forces them outside their personal and professional comfort zones?
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Case study: An owner of a software company told me about how anxious he felt making sales to customers. He loved developing the product, and he also enjoyed speaking about the product to potential clients, because he truly believed in it. But when it came time to making the “ask,” he’d freeze. He’d stumble, bumble, and in many cases, simply not even ask for the sale. The CEO of a small consulting firm I spoke with lamented how hard it was for him to spread the word about his company at conferences and networking events because of his introverted and shy nature. And the CEO of a start-up internet company deeply believed in the mission of his company, but struggled morally when pitching potential employees on the “dream” without disclosing the full reality: they might not have enough runway of cash to make it through the month.
The first step is to actually recognise — and own up to — the challenges. None of us likes to admit our weaknesses and flaws, but in order to improve, we have to. Each of the successful entrepreneurs I spoke with ultimately recognised the importance of these necessary but difficult tasks and that, in many cases, they were things they had been avoiding or procrastinating about — to the detriment of their business.
The next critical step is to embrace your purpose and mission, because that is going to give you the motivation and courage to actually take the necessary leap. For example, Maran Nelson, CEO of Clara Labs, said this about the power of conviction with respect to acting outside her comfort zone as a CEO, especially when fundraising: “The most important thing I’ve learned about fundraising is just really fundamentally believing in what you are doing. Knowing that it is good. You have to know what you are doing is good and that it must exist in the world.” Conviction is the feeling, deep down, that what you’re doing — and even struggling with — when acting outside your comfort zone is worth it. That the pain is worth the gain. And given the inherent challenge many tasks present to budding entrepreneurs, having this conviction is a critical part of the puzzle.
Finally, the last piece of advice I learned from speaking with entrepreneurs is the importance of finding your own way. Just as there is no one-size-fits-all strategy for becoming an entrepreneur, there also is no one-size-fits-all strategy for learning to act outside your comfort zone. For example, if you need to pitch to investors but hate asking for money, script out the first few sentences of your message, or bring a colleague with you who makes you feel more confident or who can help with your pitch. Or remind yourself of your mission before stepping into the room, so have purpose top-of-mind, which may make it easier to pitch. Whatever it is, you can find your own way of handling these necessary but difficult moments. The entrepreneurs I spoke with who were successful at acting outside their comfort zones were able to find simple ways like these to be effective, without losing themselves in the process.
In the end, most people equate entrepreneurship with ideas. But for many, the real entrepreneurship happens internally — with the process of stepping up, having courage, and doing things that you never thought you’d be able to do. By flexing your behaviour and learning to act outside your comfort zone, you’ll be well on your way toward achieving your goals.
Image Source: startuptipsdaily.com
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