I’ve noticed that many entrepreneurs and business owners are hesitant to take on new projects because of the current turmoil and uncertainty in the world. As a long-time business advisor, I have a completely different perspective.
Now is a time of great opportunity, with people knowing they have to adapt, and proven successes such as Elon Musk and Jeff Bezos.
While starting a business can be intimidating, it’s also common for people to lack the confidence to think big, pursue their dreams, or build a support network around them. “Make No Small Plans,” a new book by entrepreneurs Elliott Bisnow, Jeff Rosenthal, Brett Leve, and Jeremy Schwartz (available in paperback and Kindle), inspired me to overcome this apprehension.
As evidenced by their own personal experiences, they argue that anyone can think big and achieve the impossible with the right humility, thirst for knowledge, and a talented team.
You can get started on your path to happiness and success with just a few of the many lessons that they mention and that I also recommend here:
1. Don’t forget to include a few outlandish suggestions.
There is no excuse for keeping a thought to oneself. You need to give yourself permission to think outside the box and seriously consider a few of your wildest dreams. Just make sure it’s something you can build, and many others may pay for, in addition to something you want.
Brainstorming is a popular and effective method for generating a wide range of ideas. You need a half-dozen people who aren’t afraid to speak up and participate in a brainstorming session to get the best results. Your task is to maintain a positive attitude while you listen.
2. Expect to make mistakes and admit them.
Avoid being paralyzed by the fear of making a mistake in order to gain valuable experience. In other words, it doesn’t mean doing the same thing over and over and expecting different results. Doing so means acknowledging your mistakes, pivoting and listening to your advisors, and experts in the industry.
Be inspired by Thomas Edison’s philosophy of treating every failure as an “experiment”. In the face of 10,000 light filament failures, he said, “I have just discovered 10,000 ways that won’t work.” Then he was successful.
3. Authenticity is more valuable than perfectionism.
Embrace your imperfections and keep moving forward. In business, it’s impossible to define or achieve perfection. Strive to build positive relationships with each customer even if they aren’t perfect. You can’t hide in this day and age of the internet and social media communication.
Leaders who are authentic aren’t afraid to admit their flaws. Make sure you’re not the founder-CEO who pretended to have all the answers despite the fact that it was obvious to everyone that his expertise did not match his marketing zeal, as I once was.
4. Find a partner who can help you overcome your weaknesses.
Too many of you are wasting your time trying to fix a weakness instead of focusing on your strengths. Instead, put your time and energy into cultivating connections with people who can counterbalance your own insufficiencies. One plus one can equal three.
Bill Gates and Steve Ballmer founded Microsoft and achieved success together and are the perfect example of this. As far as I know, Bill was the brains behind the project, while Steve was the business brains behind it.
5. In the end, it’s not all about the idea. It’s more about the execution
In business, it’s not enough to have a great idea. As time goes on and effort is put in, you and your customers will reap the benefits. As a long-time advisor, I’ve learned that many people have a hard time crossing the bridge from thinking and talking to actually doing. There are far too many people who fail to make it.
As a person who has had dealings with many startups, I’ve never been impressed by a founder’s claim that he or she is an “idea person.” “million dollar ideas” are often touted by entrepreneurs, but I haven’t yet seen anyone pay that much for one. Use results to demonstrate your worth.
I see a lot of business owners who think in linear terms, and while they usually make it, they never seem to be able to say that they’ve achieved their goals or that they’re happy with their current way of life.
Is it time for you to take a hard look at your own progress and level of satisfaction in the business you’re currently involved in? Starting to think big, chasing your dreams, and having more fun is never too late.