own medicine

You’ve built and launched a (very early) mvp (minimum viable product), but nobody seems as excited about it as you do. Should you stop there? Does that mean there is no interest in the market for the idea your conjuring up? Maybe, maybe not. You won’t know for sure until you can find like-minded people to either prove your point or disprove it. In any case, ship as early as possible to maximize learning opportunities.

We shouldn’t discount our passion. There is a chance that, at first, nobody else seems as enthusiastic about your product — even though it’s still in its prototype phase — other than you.

That passion, feeling that your prototype could change the world, or at least create added value, once finished, not just for you but for a large audience, that’s pure rocket fuel. Leverage the feeling. That energy will get you in front of the right people and help you onboard other potential customers.

If you seem to be alone in loving your mvp at first, do not get discouraged. Sometimes, these things take time. Others will follow. Use that positive energy to find like-minded individuals.

blue month

Having a bad day is absolutely fine. Even more than one, consecutively, is still totally acceptable.

In some cultures, entrepreneurship is more valued than others. Still, often there is this idea that, because entrepreneurs “are their own boss,” they should be happy; hence it’s not allowed for them to feel bad. Let alone suffer depression or burnout.

In entrepreneurship, as in life in general, activities are rarely pure fun. Going to an amusement park should be heaps of fun. Yet, queueing for hours to ride a rollercoaster isn’t fun at all.

Entrepreneurs are allowed to feel down and shouldn’t feel ashamed to admit it.

don’t bark

If you buy a dog, let it bark. It’s not up to you to bark anymore; you just bought a dog.

As a founder, delegating work is very difficult. Time and time again, founders — early on in the business’ lifecycle — are troubled with letting other people assist them. The company is their soul child, after all. What if they mess up? They don’t understand the business through and through, and they haven’t got the faintest idea of how important this task really is! A small outtake of thoughts racing through founders’ heads.

If the people helping you do make mistakes, there is room for improvement. Learning opportunities reveal themselves for them to understand the process better and for you to explain the process better and reduce error margin while you’re at it. If they mess up (the same task) consistently, you may be stuck with a bad hire, but that’s a different story altogether.

Trust the people and resources you buy or hire to do their job. Let it go, focus on the big picture.

crash and drown

Some things in life can’t be tried; they can only be done. Pilots can’t try to take off from an aircraft carrier and hope for the best. They either become airborne or go for a very expensive and potentially lethal swim.

Training for take-off and landing from a ship in the ocean doesn’t happen out on the ocean (initially). It starts in a classroom, studying the procedure theoretically. Followed by training in a simulator. Aspiring pilots can move on to the real deal once they’ve acquired enough virtual experience. Practicing on airstrips on land first, only then can they move on to an actual aircraft carrier.

Manoeuvres your business can only perform once, for instance, signing an exclusivity deal, should be analyzed appropriately.

Two sneaker brands tell us to “just do it” because “impossible is nothing.” An excellent mindset to adopt provided the initiatives won’t damage your brand. If that’s the case, by all means, don’t hesitate. Experiment and learn. If it’s a silver bullet, hit or miss initiative, look for ways to simulate the outcome first.

thought it was cheaper

I paid sixty bucks at the time. Sorry, I just looked it up again. It turns out I paid ninety bucks.

We often downplay the value of products and services that we’re happy with or create tremendous (added) value for us. We do so consistently. This effect is part of the so-called endowment effect.

We value something more once we (feel we) own it.

Lowering your price is not a sound business strategy, at least not in the beginning. Unless you’re into limbo and you’re wondering how low you can go. The answer is rock bottom. Amazon started lowering their prices once they had their selection, customer experience, traffic, and sellers figured out. Even then, they focused on reducing the internal cost structure before lowering their prices.

Create more value for the same price rather than offer the same value for a lower price.

reference pain

Not all migraines are created equal. Some migraines are side-effects caused by an underlying condition. Cervicogenic headaches aren’t strictly migraines, but they almost certainly trigger one. This phenomenon is called reference pain.

Winston Churchill once said: “criticism may not be agreeable, but it is necessary. It fulfills the same function as pain in the human body. It calls attention to an unhealthy state of things.”

I’ve used this quote many times in an attempt to stimulate (constructive) criticism. Depending on interpretation, the quote is perhaps slightly flawed. Back pain could be the result of a blocked ankle, causing you to alter your step. Examining the back, in this case, isn’t going to make the problem disappear.

Your business can be in (proverbial) pain too. Customers not renewing their subscriptions might not be the result of the inability to charge their credit cards. Perhaps they experienced a lack of customer support or onboarding. 

Submit your business repeatedly to a full “medical” checkup. Keep a helicopter overview. The root cause of a problem may be far away — both physically and timewise — from its manifestation. 

what the block

The infamous “writer’s block” metaphor is a crappy one.

There are multiple approaches upon encountering a so-called writer’s block, or any other kind of roadblock, for that matter. You can either go around it, go over it, break through it, or stop, quit and call it a day.

Whether it’s writing, running a business, or life in general, obstacles are bound to pop up every single day. Without them, life wouldn’t nearly be as interesting. Obstacles don’t block the path, they are the path, according to a Zen proverb.

Don’t fight against obstacles. Fight with them.

auto-accountability

“I work for myself so I guess I work a boss.” The second bar 2 Chainz raps on “Feel a Way” featuring Brent Faiyaz & Kanye West. The message is obvious — a wholesome and delicate balance between arrogance and self-love. If you’re looking for an earworm or mantra, give it a spin. Is this how affirmation works?

Entrepreneurs work indeed for themselves. Usually, depending on how the entrepreneur is wired, entrepreneurs work for their employees in the first place. Their customers, investors, stakeholders…. probably all come first. Entrepreneurs often put themselves last, even though they’re the first one that has to answer.

Depending on discipline levels, the entrepreneur could either be too lazy, have an ideal work ethic, or work way past the point of crashing. With auto-accountability, meaning you (only) answer to you, finding an optimal level of tough love towards oneself is a lifelong struggle. An interesting and satisfying struggle.

the last of the organics

Organic is dead. Both audience building and reach. Reaching an audience is mostly contingent upon the ability to address a preexisting audience. New brands will have an increasingly harder time getting started and putting themselves on the map.

Not bad for consumers. Advertisers will have a more challenging time reaching prospects. When they eventually do, the targetting and offer itself will have to be significantly better than most spam received today.

Below are three things you can do to combat declining organic reach.

Find your personal or start-up’s collective voice. Make sure it’s authentic and unique, which is perhaps more straightforward than you think. Herb Kelleher, the founder of Southwest Airlines, once famously said: “We have a strategic plan — it’s called doing things.” Create (content) first, strategize later.

Niches will become increasingly “narrow,” hence more specialized. If you can’t find an ultra-niche, create one.

Leveraging other people’s audiences will further solidify its position and importance as a growth principle. Paying influencers will see a decline due to consumers seeing right through the smoke curtain. However, using an individual or company’s audience — in a mutually beneficial way — will continue to grow in importance.

good fear

Fearlessness sounds cool, as does “no regrets.” While these sentiments may seem desirable on paper, in reality, that’s often not the case. Without a healthy dose every once in a while, you may just be scratching the surface.

What are some legitimate fears? What if my customers don’t experience enough added value (anymore)? Which innovation have I missed that could turn my business model upside down?

Resting on one’s laurels is rarely a sound business strategy. Keep your eyes open. Allow yourself to be ever so slightly afraid in order to use that energy to improve your business.