You can’t grow without breaking some (l)eggs
Over the last years, I have met the most genius people in my circles.
Individuals that out of random conversations came up with brilliant ideas on a napkin, just to let it slide out of fear of failure.
If there was ever a time, and I would have enough resources to bankroll those ideas I would have without hesitation.
They just missed a crucial element: risk was never part of their game or mindset.
I often struggle to explain that taking a justified risk is mandatory. Leaps of faith are crucial when you tend to build a next billion-dollar idea.
Every business model has bottlenecks, flaws, and drafts on paper become worthless in case you need to pivot your model 180 degrees. Just like YouTube or Instagram.
Trial and error
Building a business is a process. Not an event. The trial and error stages are just part of your never-ending roadmap. Today develop the world’s best software, tomorrow the worst feature that’s been crucified by your audience.
Trials and errors are just great ways to identify yourself and how the business can or should operate. That just means you have to break some eggs, or your legs, or get your head smacked against a wall a few times.
Can mistakes be expensive? Sure they can, but it won’t match against a dusty old book with business 101 practices that have no merit.
I urge newborn entrepreneurs to approach any new idea with caution but have the willingness to take risks nonetheless or someone else will blow you out of the water.
Steps
Most new start-up founders should go with the same principles.
- Draft an idea
- Research that idea
- Build a short thesis around it (feasibility)
- Validate it
- Move into business planning
- Benchmark your options
- Build around your own skillset
- Go from paper and napkins to execution
- Estimate your risk levels per item
- Take the risk, if it’s justified within your means/situation
- Take the win or take the loss. Pivot and plan your growth.
Doubts
Self-doubt when building a venture is great. Self-doubt will make you careful. But lines are quickly crossed between self-doubts and being too fucking scared. Making mistakes will just develop a higher level of confidence and will make you aware when you scale, how to approach certain methods in your business framework.
You’re not building a brand yet. You are just going on a trip with highs and lows. Your business isn’t measured by success but by how you weather storms and survive hurricanes.
It will take away not only doubts from yourself, but outside investors or VC firms will value you a lot more just because you could beat the shit out of someone else with the same idea.
Don’t doubt, just get on with it.
