There was a Tweet awhile ago from Andrew McTeer regarding Dharma, skittles and super models that inspired this post.
Why is it that entrepreneurs will work 80 hour weeks, not think twice about contributing part of their retirement savings to keep the business going, working without pay for a year or doing whatever it takes to make the business successful? Early in a company’s life entrepreneurs work harder for less money yet almost invariably tend to love what they are doing and can see the future reward. This is true of all my entrepreneurial friends from Peter Comino (Francesco’s Coffee Company) to every tech entrepreneur I have met.
.
I know many people that work for organizations (public or private) and have some sort of secure jobs for excellent financial rewards yet at the same time they often do not enjoy what they are doing or in fact often intensely dislike what they are doing. If you apply the Dharma test “if you had all the time and all the money in the world, what would you be doing?” the majority would want to be doing something different. Entrepreneurs that take the Dharma test almost always answer they would continue to do what they are doing.
.
I have been told by Peter Kemball that there are two years of darkness (challenging times) when you start-up any business. This has been validated by almost every entrepreneur that I have met and talked with. Why is it that entrepreneurs are willing to subject themselves to that sort of punishment? I think that entrepreneurs can see the pot of gold at the end of the rainbow and most rainbows traverse a whole lot of dark clouds before you get to the pot of gold. Knowing there is a reward at the end of the journey and enjoying the scenery along the way keeps entrepreneurs going.
.
A couple of characteristics that IMHO separate entrepreneurs from employees are;
- The intestinal fortitude to take a calculated risk,
- The ability to see where the business can and will be several years in the future,
- A firm understanding of delayed gratification.
.
In summary the paradox really isn’t a paradox at all but more of a willingness to suffer in the short term for longer term reward.
.
Ian Graham

Filed under: Entrepreneurship, Start-up by Ian
No Comments »