Get Your Head Out of the Clouds
To all the first time startup CEO/CTO/Founders out there... even if you're the next Mark Zuckerberg you still need to get your head out of the clouds, come down to earth, and get a dose of reality.
I work with quite a few first time entrepreneurs at startup software/technology companies. They hire me to assist them in bringing their products to market by developing go-to-market strategies, creating and marketing their brand, producing pitch decks for investment, and overall business consulting. Now, if you hire someone to help you because you lack the expertise in a certain area, why won’t you listen to sound instruction and expert advice?
The majority of first time startup entrepreneurs that I work with are technical in nature and they want to focus on the bits and bytes opposed to the business and marketing side. Most of them do the best they can with what they know and I commend them for that. However, they pay me good money or give up a percentage of their equity (their baby) to obtain my expertise to help them in the areas where they need assistance. Nevertheless, in order for truly committed entrepreneurs to succeed past the conceptual stage they need the ability and humility to gain outside insight from individuals with the expertise in their field and a solid group of advisors to help them navigate the ship. Sometimes the advice doesn’t lineup with their vision. But if the advice is coming from someone who knows what to expect, has been in their shoes, made the mistakes, and has overcome the obstacles they’re facing and the advice could be critical to the long-term goals of the business, then they should at least stop and listen.
Some first time entrepreneurs are good at looking for advice and they’re seeking some expertise to help them make the right decisions. Others are throwing away good money to get an expert to reinforce their view of their alternate universe. My goal is to help them get through the barriers to market and to provide my expertise to help them grow revenue, create their brand, and market it to the world. I also help my customers take a look at the road ahead and prepare for the worst because nine times out of ten the worst becomes reality, I know, I’ve been there.
Nevertheless, some of these first time entrepreneurs are so convinced that their way is the only way. They have way to much pride or are too afraid of failure that they can’t see the forest through the trees. But as Andrew Carnegie once said, “No person will make a great business who wants to do it all himself or get all the credit” and an old proverb says, “Don’t waste your breath on fools, for they will despise the wisest advice”.
On the other side of the spectrum, some are seeking advice from the wrong individuals. Much like show business, there are certain types of people in the technology arena that latch on to those who have potential to become a huge success. These people seek to manipulate and connive their way into a situation where they can benefit from another’s billion dollar idea and hard work with little or no expertise of their own. They’re out there, they’re on the prowl, and they’re seeking their next victim.
Most organizations don’t pay me to point these things out. With that said, some require a lot of hand holding and babysitting but I try not to get involved in the relational aspect of their business. Though I’ve recently witnessed a situation first hand and I hope to help anyone who may be in that type of situation. From the inside it may seem like these individuals bring value to the table. From the outside looking in however, you see the manipulations and the deception and you wonder why they don’t see through it.
Here’s my advice… take some time away (I know as an entrepreneur you’re extremely busy and you feel the ship will sink without you, but you’re just fooling yourself because the only ship that will sink is you) and decompress. Evaluate the advisors, team members, and associates in your circle and think back to the last two or three bits of advice or commitments they’ve given over the past few months and really think about who would benefit the most from it. It very well could be the business and its sound advice and wise council. But look at the promises and commitments… have any of them come through in the way, shape, or form they committed to? If not, you need to assess their value and be mindful of their future intensions.
My objective is not to make people paranoid. My intension is to wake you up, take your head out of the clouds, and see if your sphere of influence is really producing the value you expect them to. If not, it’s time for a change. The best advice is from a wise and knowledgeable person, preferably from the outside who has little or nothing to gain from instructing you. Just remember, “A wise person listens to advice but a fool rejects it”. Trust but verify.
