Is Your Entrepreneurial Journey Just Another Rat Race?

I wanted to think over my entrepreneurial journey and share it with other fellow entrepreneurs.

Once a year, I reflect upon the year that has passed. Sometimes startup entrepreneurship has become part of the larger rat-race of society. What began as defiance against a society built on neatly parcelled careers and raises, became a successful, popular subculture, and in doing so, re-merged into the rat race.

Just ask yourself if you, like me, have felt anything like the following:

On career path fallbacks

1. You are comfortable with the idea that if your startup does not work out, you will get a job at a tech company thanks to the strength of your startup experience

2. You view the outsourced projects that you are working on as more pressing and important than the success of your startup

Airbnb had their Obama O’s and Cap’n McCain’s. The lessons is that sugar is sweet, but if you have that instead of a whole meal, it will kill you with time.

3. You worry that decisions you make as a startup founder may not look good on your CV

Many factors can motivate a worry that a badly viewed mistake can affect your public image. None of those worries will help you make the right decision, though.

Especially true if you have a personal relationship with someone in the offended organisation. It takes a mental shift to be ok with the idea that you will have professional rivals, and on purpose, so that you can succeed.

5. You find yourself thinking a lot about the occasional job offer that comes your way through LinkedIn

I’m pretty confident that a lot of startup founders and senior employees get offers through InMail because I received a few. Thinking about them makes me aware that I’m wondering which will get me ahead furthest in the rat race. I learned to view them as an opportunity to reverse-pitch what I’m working on instead. Try it.

On measuring success

6. You unconsciously benchmark your startup’s growth against your peers in the same or adjacent industries

7. You unconsciously seek out meetings with corporate leaders more than you seek out new customers

High-powered meetings are exciting! Powerful figures also have the means to lend you a hand. If you found that you met more executives than customers in 2016 though, you may need a rethink.

8. You find yourself talking exclusively about growth and revenue in interviews

Aside from being a poor presentation, it reflects a focus on score-keeping again. Besides, metrics ought to support an argument, not be the argument.

On finding opportunities

9. You see a conference speaking opportunity as a profile-building exercise

10. You secretly wish that your larger competitor would just buy you already

Everyone wishes for an exit. However, if it occupies a lot of your thoughts, perhaps you are in it for the wrong reasons.

On lifestyle

11. You have to be the highest-paid person at the company since you are the founder

Though it’s common to be the highest-paid person at the company, sometimes an opportunity to hire someone amazing will present itself, and for a lot of money. I don’t know if I could do it, but a founder who is ok being paid less than some of his team is saintly, and outside of the rat race.

12. You opt not to explore a new overseas market because the temporary relocation would really cramp your lifestyle

13. Your friends all work in startups but not one of them is also a founder

Nobody ought to be told how to live their lives or pick their friends. That said, the rest of us draw our lessons from how you live your life and pick your friends.

14. You don’t understand why other entrepreneurs won’t just chill out more

Being out of the rat race is hard work. A race has objective and rules. Entrepreneurs reject those rules in favour of creating our own. That’s twice as hard as just playing along.

15. You invest your savings the same way that your peers in corporate jobs do. Do you see your life turning out the same way as your peers in corporate jobs? I didn’t think so. But perhaps subconsciously you do. Why else would you take on the investment risk profile of a corporate employee when you aren’t one?

On competition

16. You think that the coming downturn in your space will affect you and the old-school incumbent equally

This is a problem because you see yourself in competition with established, old-school incumbents. You aren’t. Aside from the different scales that both operate at, seeing yourself in competition with them draws you into a destructive race against them.

Explosive growth also explodes problems. It can entrench bad practices in the name of profit, and turn your company into another corporate treadmill. You can win the rat race, and still lose the spark of defiance that led you to choose entrepreneurship in the first place.

On achievements

18. You want to get an MBA to further your career (even though you are the founder)

I find this baffling. People don’t use most of what they learned in school at work, regardless of the job or level of education. So an MBA won’t make you a better entrepreneur. I can only guess that subconsciously some entrepreneurs expect to be back in a job where an MBA matters.

19. You tell people about the terrific things that you have achieved, not what your team has achieved

Being self-centred is awful in many ways, and one of them is as a way to grow a personal profile instead of a company profile. It shows a focus on self-aggrandizement and corporate CEOs that we love to loathe.

20. You believe that if there’s no authoritative blog post written about how to do something, it probably isn’t worth doing

I have a minor confession to make.

There are a fair few mistakes on this list that I have made. 2017 seems as good a time as any to try something different, like writing for its own sake, and not just content marketing. More sharing and less measuring. Being a startup entrepreneur is something special, and I’m going to remember that.

Source: Source: e27