Are you REALLY ready yet to do what it takes?

A 'new' mentor (whom I met 30 years ago), described my biggest startup problem directly. "Are you REALLY ready yet to do what it takes?

I sat down recently with Neville Christie, to gain some clarity & perspective about my journey. 

What he discussed with me was perhaps the most difficult and painful conversation I've had in a long time (excluding those with my lawyers).

After listening to me for 15 minutes, what he summed up was devastating. I was exactly where I was now, because I had chosen to be. That's right, in simple terms, all my challenges, and also my opportunities were as a result of my decisions. 

At that moment I realised something profound. No longer was it the fault of the economy, the government, my choice of co-founder, competition, funding, the team, the backers who didnt 'get' it. No of them. 

I was where I was because of the decisions & subsequent actions (or lack of) by just one person. "Great", I though, "now I've got some-one to blame".

And then the kicker; "That person is you." 

"What? No! That can't be right. What about - insert reasons A,B & C here- and -also insert factors 1,2 &3 here?"

"Wrong question" was the reply.

What he told me next was perhaps the most profound thing I had ever heard.

"The only reason you aren't yet wherevyou want to be, is that you haven't employed every resource at your disposal."

So profound was that statement, that I was blown way by the simplicity of it. "Surely, that could be it? I can't possibly be that simple?"

I thought for a second about countering. Surely I had operated (most of the time) at my peak capacity, turned over every stone, chased down every lead? Whilst that was true, when I thought it through, there is a major difference between doing "everything you know", and "whatever it takes".

Do you know the difference?

Can you identify every resource available to you?

Are you prepared to bring them all into play, without hesitation or reservation?

A new source of startup funding coming soon?

The opportunities for funding in the startup ecosystem have progressed rapidly in the last few years, with sources of funds going through multiple iterations, with the advent of new models, such as incubators, co-working spaces, accelerators, seed-funders, bank-backed capital funds and crowd sourcing to longer-standing angel investor groups & venture capital funds.

Each group has their defined space, but something still appears to be missing.

From my exposure to other 'ideas' people, I believe that only around 1 in 5 ideas every go on to get formally pitched as a fully-formed startup.

As a well known VC recently told me, in his 25 year career of listening to pitches (around 5000 fully formed proposals), only around 1% of those ever got backed. And from other sources, we know that only 8-10% of those ever go on to become significant businesses.

So if you follow the math (hazy as it is) for every idea that works, there is potentially 4999 others that didn't.

That's a hell of a lot of value/job creation/ GDP growth etc left on the table.

There are many talked-about reasons for this, including product/market fit, access to resources, funding, temperament, resilience and a plethora of other startup buzz-words that I've left off.

As governments around the world (including Australia) start to review existing legislation around equity ownership, investing & crowd-sourcing, that space is likely see a variety of new hybrid models also coming to the fore.

But I'm not sure that even these measures are necessarily the answers to the problem, in comparison to the pre-existing resources available right now, today.

What seems to have lagged to date is the ability of the corporate world to invest its considerable resources.

I believe that new wave of change is coming, but not in the way that you might expect.

In the distance, I see a new wave of change coming from the foresight of existing & upcoming leaders, which will revolutionise the startup landscape.

Can you see it too?

Be bold, be brave & be cause.

Startups a good place to lose yourself.

Here, the commitment to a purpose, to something that has value, is worthwhile.

So few entreprenuers will ever succeed; fewer still will see anything like the rewards so written about daily in TechCrunch or a dozen other places.

Yet the promise of peer recognition, fame, glory & success simply spurs more of us to strive, to stretch, to reach, often again & again. Why?

If we are honest, could it be that the feeling of risk & adventure can be intoxicating, even addictive?

Or is it that the mission, or perhaps the calling is stronger here than in an occupation, where we show up, perform our tasks, complete our objectives, and then go home?

Startups are perhaps also a great place to find yourself.

What do you think?

What does your audience see?

My dad was a clever man; he 'figured out' life (in his time) long before I even knew there were rules. But he taught me one of the most important rules early.

"Always play the ball, not the man" -this came from him coaching me in soccer, when I was 10 --and he applied it to everything else that he did in life.

But apart from the obvious behavioural implications, it also was about accepting responsibility for your outcomes & not blaming others. Therein lies the greatest of learning.

You see, in the game of soccer,as it is in startups, our ability to improve our ball handling skills is in our control, not some-one else's.

The better I get at controlling the ball, the more chance I have of directing it where I want it to go, ideally toward the goal.

And in the game of soccer, like startups, whether you win or lose the game, (even if it is just the coach & the players), there is always an audience. 

The Journey

After you've done a couple of startups (whether successful or otherwise), you quickly learn whether this is in your blood.

I'm not sure for me whether its thrill, risk, challenge, opportunity, or belonging that is the strongest motivator. After speaking with many other 'tribesmen', its pretty clear that all of these play a part in the decision of those of us that stay 'in the game'. For most of us, its something we were born to do.

But let me make distinction :- I think startup entrepreneurs are made, not born. I believe we are the product of our environments, and are a breed apart from the freedom seeking (but structure requiring) traditional entreprenuers, like a typical small business person or franchisee.

There are similarities, yes. But substantial differences too. The franchisee seeks a brightly-lit highway to follow, whereas for us, a dim, hardly-trod path is enough.

For them, the pre-existing tools, the certainty of outcomes, and the mechanics of the process.

For us, like the explorers of the new world, a glimmer of opportunity, a faint light of hope, and the stories of the path ahead from our fellow travellers, is often enough.

Small wonder that many of us never quite make it to journey's end. And yet, that is part of the promise - that we could succeed where others before us have failed.

"Everything we enjoy in society is a direct result of the accumulated learning derived from millions of mistakes. No mistakes, no progress. Yet we still look at making a mistake as embarrassing, wrong, an act bordering on sin. If you're making mistakes, it means you're doing new things, taking risks, stretching yourself. You're growing, learning. And isn't the journey, the experience, not the destination, what life is all about?." -Robert White

Mentor required, enquire within.

Because that is exactly what is required....

Not opinion, nor learned behaviour nor methods. Rather, the ability to look inside yourself, and impart the best of you; your wisdom, compassion, experience.

Requirements are maturity, experience (both life & business), a track record of success & failure, a lifelong willingness to learn & to share, and a journey that 'marks the trail' for those that follow.

Renumeration will be absolutely defineable, via multiple streams (in addition to the usual options), such as self-actualisation, a requirement to 'pay it forward', recognition, accolades and personal & professional satisfaction.

Do you meet these criteria?

Do I?