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The Small Business Conundrum why so many do it why so many fail Or Christopher Columbus secret weapon

Written by: Craig Jennings

Article Overview: Better than half our gross national product is the output of Small Business, yet most of them don't last very long! Why?

The Small Business Conundrum why so many do it why so many fail Or Christopher Columbus secret weapon

Better than half our gross national product is the output of Small Business, yet most of them don't last very long! Why?

Are we drawn, like lemmings, to a glowing false future which consumes and destroys us? Or do most of us just stumble our way to failure?

About 50 years ago, JFK commented on the economy: "A rising tide floats all boats." Right now the tide is out - and yet the enthusiasm for starting new businesses seems to be growing! Are we nuts?

As someone who's started 7 small businesses, and who teaches the process at the Learning Annex and elsewhere, I think I know. I believe I know what went wrong with some of my efforts and right with others. As someone who works full-time now as a small-business coach, I think I can see something clearly missing.

What's missing is a durable, persistent inspiration! You and I must create a star to follow. If you're an entrepreneur, or planning to be one, I've come to believe you must assume responsibility for your own inspiration - and not only must you maintain it, but it must be catching! Consider that inspiration is the single most difficult process for the small businessperson to generate and maintain around his/her business - even harder than raising capital or quitting his/he present job.

When you first start a business, or join in one, what's possible is hugely exciting! Whether you're going to make the world a better place, learn new and valuable skills or just cash-in big time, the future appears bright and motivating. The details may be a bit fuzzy, but the possibilities are compelling. Now fast-forward 1 year. As the owner, you grumble "You can't get good help these days!" As the worker, you're the person the owner's talking about - while you observe that your own dreams are dimming or unfulfilled.

Too often, the owner's now in the ridiculous posture of head-down, tail-up, working in his business, not on it. Is it surprising he can't see that bright star anymore? Is it surprising that he's working twice as hard, making half as much, and is totally separated from fun?

What's not visible- a powerful mission, a motivating vision. In its place we have endless urgent to-dos, forest fires, crises. If the mission and vision once existed, they've been relegated to the world of the "Important - do when get time." How successful can a small business be when it focuses on the urgent, and ignores what's important? Does this sound familiar to you?

It reminds us of the conversation between Queen Isabella of Spain and one ship-captain, Christopher Columbus, only 500 years ago. (Recently discovered in a stack of old EyeWitness News tapes found in a Spanish basement.)

"Captain Columbus," Isabella says, "I'm not going to hock one jewel unless you provide me with a righteous mission statement and vision statement."

Columbus grumbles under his breath "I'm a ship-captain, not a Harvard MBA!" but he hears money talking and he buckles down to work. After extensive consultation with his coach he returns:

"Ahem. A mission is a clear description of what we expect to accomplish and the benefits associated with it. My mission - er, our mission is to find a new route to the riches of the East so that we, er, our nation will profit and the English, Italians and French will be left tossing in our wake!"

Isabella smiles and claps her hands. "Bravo, Captain - and the vision?"

Columbus surreptitiously crosses his fingers behind him, and speaks out. "A vision is a picture of what might be possible as a consequence of fulfilling our mission. It's frequently seen as ridiculous and absurd by those who don't share it, but it's tremendously inspiring to those who do. I've recently discovered that the earth is round rather than flat. My vision is that we can accomplish our mission to get to the east by sailing west, as ridiculous as that may sound to your Royal Highness."

"Not ridiculous at all, Captain," she cried. "I'm inspired enough to cash in these baubles" she giggled in her jewels, "their value is as naught compared to what we may be able to accomplish together! And I rather suspect both you and your men will find this inspiration valuable when you are far out at sea in a small boat!"

The rest, as they say, is history!

This fanciful fable underscores what I believe is the root cause of small-business failure - the missing of vision and mission. Where can they be found? Ironically, both mission and vision are located somewhere between your left and right ear. They are hugely suppressed by doubt, conventional wisdom, and "reality." They can be evoked, with substantial diligence. And they are powerfully transformational. They will help you, and the rest of the people in your business, to row all in the same direction (rather than rocking the boat!)

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Article Tags: gross national product, secret weapon, small business



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Re: My Favourite 7 Boldest Entrepreneur Moves of All Time - Hi Evan, I have a new suggestion for "Boldest Entrepreneur Moves of All Time" and a suggestion for your Learning from the Masters series: 1. Boldest Entrepreneur Moves of All Time = Christopher Columbus: "... he saw the possibility of treasure and commerce where others saw only danger. He committed so wholeheartedly to that vision that not even dozens of rejections and ongoing penury could dissuade him from pursuing a journey to Asia via the West. He built on his technical strengths as a seaman to plan a viable journey and eventually marshal an expedition." - Christopher Hoenig, 6 Essential Secrets for Thinking on a New Level I bought Hoenig's book about 10 years ago but couldn't make head or tail of it then... reading it now and finding it inspirational... 2. Nomination for Learning from the Masters video: Dee Hock, founder of VISA. (Source = Hoenig.)
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
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