An Entrepreneurs Words Podcast

We entrepreneurs have much for which to be grateful. As I write this at the beginning of 2018, what better way to start a new year than to express gratitude. We have been blessed with so much and it's helpful and healthy to reflect on these blessings.

Here's a term you'll hear a lot in the entrepreneurial world - accountability. In our organization every team member has written Roles and Accountabilities. There is a lot of talk in the business world about holding people accountable. So, exactly what does all of this mean?

Allow me to introduce Colin Timothy O'Brady. Born on March 16, 1985, O'Brady was raised in Portland, Oregon, and graduated from Yale in 2006 with a degree in economics. After graduation he went on a trip to an island off the coast of Thailand. During a fire-rope jumping event he accidentally caught on fire and suffered second and third-degree burns to 25% of his body with the most damage to his legs and feet. Doctors said he might never regain full functionality of his lower extremities. 

We entrepreneurs have some interesting personality traits. Many of us are particularly hard-charging. We are generally assertive and often have aggressive tendencies as well. Other descriptors might include a high sense of urgency, a less than accommodating nature and low empathy. We can sometimes become total, unadulterated assholes. 

Entrepreneurs make decisions every day. Some are large and many are small. Have you ever stopped to determine how it is that you go about making your decisions? Some entrepreneurs are deliberate and others tentative. Some are procrastinators and some use a consensus approach. I'd like to focus on two methodologies that present quite a conundrum for entrepreneurs - gut vs. data.

Every entrepreneur will experience disappointment at one time or another - that's a fact. We tend to be optimistic and visualize very positive outcomes. Of course not every outcome is realized exactly the way we anticipate. 

Super heroes are known for their super powers. Superman could fly and possessed incredible strength. Captain Marvel could levitate. Wonder Woman had x-ray vision. Hercules could self-heal. Cartoon characters are bestowed with amazing super powers and always seem to find themselves in situations that call for the use of those powers specifically unique to them.

Let's go exploring. Let's explore the mind of an entrepreneur. What types of thoughts are entrepreneurs thinking? The answer may surprise you. Many people see entrepreneurs as self-confident, assertive individuals who always have it "all together." Look at the roster of famous entrepreneurs - Sir Richard Branson, Mark Cuban, Steve Jobs, Bill Gates, Jeff Bezos and Mark Zuckerberg. Certainly no shrinking violets in this bunch!

Solving problems is a hallmark of entrepreneurship. Challenges are presented every single day of our existence - some small, some large and some that are the size of a 41,000 pound Whale Shark. Regardless of their size, we know that we must persevere and work through the many issues we face. Let's stop for a moment and think about our problem-solving encounters. Are they particularly stressful or do we handle them on a pretty even-keeled basis?

Baby Boomers and Millennials. Two massive generations - 74.9 million Boomers and 75.4 million Millennials, and as different as night and day. But then, most generations are quite different. And I'm sure that every older generation shakes its collective head about the younger generation. For the sake of generational harmony I want to offer some ideas that hopefully will be helpful in bridging the gap. 

Damon has a problem. His staffing company is four years old and growing like crazy. Bottom line profits have doubled year-over-year since he launched the firm and several members of his team have been with him from the very beginning. Sounds like a dream story so far, right?

While vacationing, my wife and I had occasion to dine at several restaurants that we have enjoyed over the years. Something happened at two of them that was somewhat of a surprise.

Gil Penchina is a 20-year angel investor in start-up companies. He was one of the earliest members of the eBay team and has invested in unicorn companies such as LinkedIn, Dollar Shave Club, PayPal and Cruise Automotive. I heard him tell a fascinating story about what he sometimes does when he's traveling. 

We've all seen the World War II movies where U.S. soldiers crept behind enemy lines and blew up bridges, tunnels and other elements of infrastructure. We hold our breath as our boys used cunning and guile to defeat the Germans at every turn. This was classic sabotage at its finest. 

We all know that life is full of risks. Some are more serious than others. I hold the view that I'd rather "manage" risk than "take" risk. I've said before that taking a risk seems a bit arbitrary.

Have you ever watched the TV series Gold Rush: Alaska? It's a lot of fun to see different miners interact with each other; spend a lot of money, and fight amazing odds to discover GOLD!

Consider the following conversation that an entrepreneur named George is having with himself. "I really would like to accept the invitation to speak to the Downtown Civic Club. But I'm afraid I'll be too nervous."

Have you ever felt like your back was against the wall? And I'm not talking about a looming deadline to renew a driver's license. No, I'm referring to a true-life Indiana Jones sort of experience.

I've had a number of conversations lately with bright energetic entrepreneurs. In each instance, they had a burning desire to build their business. And in all cases, they were filled with ideas, but implementation was a challenge - after all, the day-to-day aspects of running their businesses needed constant attention. 

There are very few things in life that I truly hate. We optimistic entrepreneurs are upbeat and resilient. But there is this one thing. Let me set the scene and see if you share the same disdain as do I.