Do You Work with a Credit Hog? MG THINKERS 50...
Candidly ask yourself: Am I motivated to do this? Am I able? Do I understand how to harness my ability to get the job done? Do my past achievements make me confident that I can do this? Do I have support? Is there a marketplace that will appreciate the effort?
Understanding: “No one is born knowing how to do a start-up. You learn it as you go. I follow the Rule of Fools: ‘Fool me once, shame on you. Fool me twice, shame on me.’”
Confidence: “I’ve created three distinct products—we call them SKUs—for the brand. It’s not foolish to expect a fourth idea and a fifth to show up. It’ll happen.”
Support: “We entered an accelerator contest last year, and we were one of five small companies chosen to be mentored for six months by experts in the food industry, mostly for the purpose of attracting investors, which doesn’t interest us yet. When I don’t know something, I call my mentors.”
Marketplace: “People will always need ready-made sauce to put on their pasta and pizza, to stuff their peppers, to make chili. Our niche is the high end. We don’t need everyone to buy, just the right sliver of the market, and those people are finding us.”
Then I asked Marie if she felt aligned. “Alignment is something I felt right away,” she said, “because I was enjoying myself. Two years into it, though, when we were showing a little profit, I started wondering what was the purpose of all this work if I wasn’t taking a salary yet. What was the endgame? One of the mentors told me that start-ups aim either for steady profit growth or being bought out. I decided our goal was getting someone to buy us, after which we could keep at it with more resources or move on. That gave me clarity and purpose. I felt aligned again.”
Marie had all the right answers. Can you say the same about the life you’re living right now?