Category: entrepreneurship

past performance

People often get promoted as a result of past performance. What’s true of investing is also true of talent. Past performance is no indicator of future results.

It’s slightly more nuanced than that. If a talent typically performed well over the past, chances are, they may continue to do so. Provided there are no fundamental changes regarding the job content, trauma is suffered, and the talent feels valued and appreciated.

However, as a result of a promotion, the talent might now be responsible for other people. The way the talent has to report has now completely changed. If reporting costs much effort, it might be the case that there was no desire to change job (content) or be promoted (within the company) for starters.

Here is a simple solution; ask. Cater to the expectations of talent and ask them what they want, rather than making an unsolicited decision for them.

learn to say no or yes

The education we receive is based on egalitarian principles. People who never speak up or lack self-confidence benefit from an entirely different approach than people who are very outspoken and perhaps even too sure of themselves. Yet, regardless of individual character traits, we all receive the same training.

With every day that passes, we gain a better understanding of the complexity and uniqueness of DNA. Oddly, we still don’t take individual soft-skills into account.

Learn to say no — a phrase that gets thrown around frequently, disguised as business advice. While some people may genuinely benefit from learning to say no (sooner), others might benefit from saying yes more often.

Advice is (almost) never copy-paste. Consider what works for you and your business and mold it according to your needs.

how many days

In how many days was Rome built? Not in a single day, that’s for sure. Ten thousand? Is Rome even finished? Probably not, so there is no right answer to that question.

When entrepreneurs struggle in a business, they persevere. Everybody knows Rome wasn’t built in a day, so they push through for many (consecutive) days.

Set goals with what you wish to achieve, and connect a maximum amount of days to the plans. You can always adjust as you go. It’s crucial to create perspective beyond “a single day.” Be specific in manifesting your goals.

unassessable

I’ve done business in domains where I knew nothing about prior to engaging. In that case, three crucial steps must be taken.

Immerse yourself in knowledge. Take a crash course. Read, listen and watch everything there is to learn on and around the subject. Once you know a little bit, you might know just enough to start asking the right questions.

What does this remind me of? Chances are, there are parallels to be drawn. Connect the dots in your mind and try to apply experiences from another domain, in this new domain.

Surround yourself with an expert. Somebody who knows all the ins and outs, all the pitfalls. Someone who learned by failing in the past, who can prevent you from failing in the present.

The thing is, you can’t judge or evaluate what you don’t know. If you’ve never had an accountant, you can’t verify if the accountant is any good. If you never had to set up a production process, the manufacturers can basically tell you anything.

Learn fast, look for parallels and seek advice from someone you trust (or through someone you trust) who is experienced in the field you are about to explore.

tunnel walls

Mental and physical symptoms often accompany severe work overload. Increased heart rate, feeling like the walls are closing in, among many other signs. A predicament to (try to) avoid at all cost.

Easier said than done. Who anticipated the pandemic lasting so long? As a social and harmonious person, working from home will be extra strenuous for you. Something you had rather avoided, but here you are.

We all get stuck in this position now and then, and that’s fine. It’s bad enough already as it is. We shouldn’t beat ourselves up over it. It’s like driving on the highway; you miss an exit, and are now forced into a tunnel. Turning back isn’t an option. You’ll have to wait for the next exit.

What if you can’t see the light at the end of the tunnel? All that means is that the tunnel is too long (or curvy) to see all the way through. Trust the process and progress you’re making. As long as you keep going, the light will start to show, any moment now.

shameful retrospective

What is this artwork doing here? It doesn’t belong here.

Sometimes, while visiting an artist’s retrospective exhibition in a museum, you catch yourself questioning the motivation behind featuring a specific artwork. It might not be particularly good from a technical, esthetical, or artistic perspective. Yet, it made its way to a museum.

Maybe the artwork is featured so the audience understands the progress the artist has made?

Looking back at work you’ve done in the past, it’s absolutely fine to feel slightly ashamed. That means you’ve grown.

shut up and learn

Knowing what to say when sure is a lovely feeling. The ability to add value to a conversation by providing just the right insights can feel rewarding.

On the other hand, there is absolutely no shame in sitting back to listen to others talk about a topic they’re more skilled and experienced in. Knowing when not to speak is presumably more important than knowing when to speak.

The Buddha allegedly said: “If your mouth is open, you’re not learning. A wise person can enter and dwell in his own teacher’s knowledge, having realized it for himself through knowledge.”

Minimize talking, maximize listening.

thin basket

Focus! However, don’t put all your eggs in one basket. Diversify, but don’t spread yourself (too) thin. One by one, valuable pieces of advice, yet, combining them makes them somewhat contradictory.

Moderation in all things is certainly one of the keys to success in life. The issue is that the same effort today could feel like you’re spreading yourself way too thin tomorrow, perhaps due to lack of sleep.

Due to the variability, it’s nearly impossible to determine a proper balance between focus and diversification in business activities.

All your eggs in one basket is a risky enterprise. Half an egg per basket is obviously impractical from a logistical point of view. If one egg per basket is the bare minimum, the question begs itself: how many baskets can you carry?

pattern breaker

Two weeks into a streak, something comes up and… bye bye newly built habit. Working out in the gym every day can take as little as a runny nose as an excuse to skip a session. Maybe two. Before you know it, you stopped going altogether.

Humans are creatures of habit. Patterns take time and effort before they start to stick, but once fully established, they become hard to break. Before the habits you wish to pursue become an integral part of your life, they’re fragile and prone to suffer from curveballs. There will always be curveballs. Life will throw you one or multiple when you least expect it.

Some curveballs can be foreseen, and others can’t. Identify precisely what causes you to break important patterns so that you can anticipate maintaining your streak better.

humblebrag pie

Thinking you know all there is to know probably won’t get you far. Arrogance and a certain reluctance or unwillingness towards learning are lousy character traits for entrepreneurs.

Confidence, on the other hand, is an absolute must. Failing repeatedly and climbing back up requires a special kind of superpower. Without it, launching or running a business proves to be a rather substantial pain in the neck.

Finding that perfect balance between humility and confidence is a lifelong quest.