Posts tagged entrepreneur

The first habit, or the foundation, of the 7 Habits of Highly Effective People, is being proactive. In short, you are responsible for your own life, and therefore possess the initiative to make things happen.

I’m not through the entire book yet (I’m actually only on Habit 2), but this first habit applies to startups as much as life. If you own a startup, you are responsible for that startup’s success, and you must make things happen.

The following is a scenario I’ve seen before. You create a business you know customers will love, because you love it. Whether you spent money to create it or did it yourself is irrelevant. You go-live, but the people don’t come. You decide to post a link to your Twitter and Facebook accounts. Nothing. You add features because you thought of cool new stuff. Still nada. 

Here’s the point where many entrepreneurs make an incorrect critical decision. They either continue to add features, or they quit, assuming they’re product won’t be successful.

You need three things to create a successful startup: to start with good people, to make something customers actually want, and to spend as little money as possible. Most startups that fail do it because they fail at one of these. A startup that does all three will probably succeed. - Paul Graham

Paul Graham is really good at taking complex topics and breaking them down, such as the paragraph above. You only need three things to create a startup, but you can’t achieve any of them without being proactive. Startup life is difficult, and successful entrepreneurs can not let blame various circumstances for their results. They need to proactively find ways around those circumstances to achieve success.

Lean Startup principles are proactive by definition. You talk to customers to learn and validate assumptions until you achieve market fit. You’re continuously deploying changes, and testing small updates to understand their value. You remove waste that is not providing value to customers.

Being proactive sounds obvious, and I’m sure most feel they are already being proactive. However, looking at the definition of proactive from the book, I’m looking for ways to do better.

I can’t wait to read about the other 6 habits.

Over the weekend, I read this (although I did not listen to the supplemental video). The author made a point to state he would never work for entrepreneur Jason Calacanis due to his views on work/life balance (in other words, there should be no balance). See a supplemental opinion from Jason here. 

I’m a big proponent or work/life balance, so articles like those in the previous paragraph really get me thinking. Is it possible to succeed when you have a life? Do you really need to sacrifice aspects of your life? Work extremely long hours for weeks/months/years? The answer to each question is Yes. 

To answer ‘yes’ to each questions could seem contradictory, but it’s true. To be successful, you must have a work & life balance. That doesn’t mean you work a normal 40 hour week and then go out and have a life. It’s much more difficult, or else everyone would be a success.

So what’s the answer. Calacanis states that work should be your life and you should love your job.

I never stop thinking about whatever project I’m working on, and I don’t consider what I do work-never have.

This advice is absolutely true. However, this advice, on its own, makes you a ‘workaholic’ and doesn’t give correct balance. You need to love your job, and honestly, I bet most people do not. If you don’t love your job, and you’re not thinking about how to be successful more then your competitors, then you’re going to lose.

So what can you do to increase work/life balance. My belief is that, similar to Lean Development, you cut waste. Many people cut out time with family, sleep, or other healthy activities. These items are essential and necessary. Even better, they’re not even waste. In the short-term, going to the gym may seem like waste when you’re trying to make a delivery, but work/life balance is a long-term goal, not a short-term.

So what’s waste? I think it’s better to start off with what isn’t waste.

• Family Time: When I had my 2nd child, a friend told me to always value “Quantity” time over “Quality” time. He’s absolutely right. I firmly believe that every moment with your family is a long-term benefit (as well as a short-term). Also, you only get one chance. If you’re too busy working when your child is 5, you will never be able to get that time back.
• Exercise: As I said previously, lifting weights and performing cardiovascular exercise may seem wasteful when you got things to do, but long-term, both help enhance success. It manages my stress and allows me to think outside the office. Plus, it makes me stronger and skinnier (Bonus!). 
• Sleep: 7 Hours, Minimum
• Active Learning Activities, such as Reading: Reading is especially good to relax. Like exercise, you’re getting a benefit while you’re actually away from the work environment. Whether it’s books on technology, programming, or business, what I learn in my free time will help with my end goals.

With these items in mind, waste can be defined as any activity that does not help you meet your goals. Passive activities, such as watching television, are wasteful. With the idea of cutting waste to achieve a work/life balance, you can work 70-80 hours a week, stay healthy, and coach your child’s sports team. 

It only takes hard work and self-reflection.