Creating a startup business is cool. That’s a fact.
You are the cool dude of your friend’s group, the entrepreneur, the guy who is doing all the difference. And the big mistake here is becoming a kind of arrogant entrepreneur.
I lived this in first person, and I see in others the same process, basically as a “cool dude entrepreneur” you focus on the environment more than in the value or the essence of your personal business ambitions.
If you ask to one of those cool dudes (of course, not all entrepreneurs are equal), “why do you do what you do?” After the automatic killing elevator pitch, they don’t have anything else to say. They lack what I call “the business purpose”.
1. Fast growing or nothing
In the startup world you need to show a high growth potential to attract the right people, otherwise, you are like any other business trying to survive year after year.
Investors will never invest in you if you are not showing that kind of behaviour. And of course, you will need investment to keep growing and keep attracting more investors.
Most of the startups are made by multidisciplinary teams, which is awesome, and usually one of the key people in the startup business is in charge of dealing with investors, banks and other financial issues. This is how important is capital for a startup.
The question I want to ask you is: Is the need for capital dissolving the core purpose of a startup?
In most cases, yes. Is really hard to keep your investors happy at the same time that your clients and you “inner business purpose”.
At some point, you need to find the balance and rest relevance to some of that parts. Usually from your business purpose. First money and after I’ll pay attention to that.
But that moment never comes.
3. From entrepreneur to business manager
An entrepreneur is a creative problem-solving person. Basically that.
But running a start business involves a lot of stuff, there is a huge amount of work not related to the core business of the startup. As any other business, you need to pay attention to employees problems, office utilities, supplier negotiations, investor relationship, and a log etc.
Some people enjoy that kind of work but normally this work routine could be soul-killing for an entrepreneur.
You arrive at the office, your head is plenty of new and great ideas that you want to start implementing right now or you have a great alternative to offer to your clients and then… you find the real “problems” of running a business.
An employee is not coming today because is sick and you are running out with a presentation for an important client. The internet connexion is running slow and you need to call your broadband supplier and spend an hour on the phone waiting to solve the issue. And a long list of daily business problems…
The day is gone and all your great ideas are going back home with you.
I’m not trying to dissuade you from creating a startup business, but I am telling you the reality behind all the glam, the day to day behind most of the “cool dude entrepreneur” that you see.
So I still want to build a business… tell me an alternative
We are living in a business revolution, everybody can start a business from virtually any corner of the world and build a great, inspiring and profitable business.
Is what I call Personal Business, or content business, or portable business, or solopreneur, or personal brand business, or whatever you want to it!
The concept is very simple.
- Use the internet to get global access.
- Choose the topic, industry, or niche that you want to serve. But choose something that you are passionate about, your business purpose is an extension of your personal aims to change the world for better.
- Find your Unique approach: How can you serve this community on high-quality basics.
- Create that high-quality content (books, post, videos, courses, software, apps, etc…) and share with your community.
- Build your business around your Audience.
I know that sounds a super simplify way to do it, indeed is impossible to condense that whole business concept on that 5 points but this is just a quick approach.
The key thing here is that you are able to create your personal business, with no employees, no investors, no daily managing business issues to be solved (more than the relatives to your portable business, which is far more handle for you).
You can focus and keep your focus on your core business, your business purpose.
And most important, because you are basing your business over the internet, you can establish a scalable business with a long term projection and able to satisfy your business ambitions as well.
Photo credit Freepik
If you are following the startup business model, stop for a minute and think about that, is that the kind of business you want to build?
Forgot about all the shiny attributes around the “cool dude entrepreneur” and focus on the reality. Starting a personal business could be more humble at the beginning but people who choose that path is looking for something more than a high profitable business, we pursuit a business purpose.
And that business purpose in inside our DNA, so the business should be built around your lifestyle and not vice versa.
Featured image Freepik