What do Bill Gates, surfing legend Robby Naish, and Walt Disney have in common with successful startups?
I have recently come across a noteworthy article by serial entrepreneur Mike Maddock. It is about three lessons founders must learn.
Live and let live
The article quotes Bill Gates, "I have lost a lot of money trying to change behavior." That is definitely true. A startup does neither have time nor money to change how people act. There may be exceptions—but not all too many.
Thus, smart founders try to develop solutions that make existing behavior a little bit cheaper, easier, or even more ravishing.
The complementary partner
Many companies are founded by people who believe they see an opportunity that a whole industry full of people has not yet discovered. They are like Walt Disney imagining a community, although he had never built one.
Successful companies have one seat reserved in the C-suite. It is for someone focusing on systems, metrics, and discipline that you need to turn a small idea into a big one. Walt Disney, for example, relied on his operationally brilliant brother Roy. The latter once said: "To the bankers who financed us, I’m sure (Walt) seemed like a wild man, hell-bent on bankruptcy. To me, he was my amazing kid brother, full of impractical dreams that he made come true."
The longest wave
There is a reason the most famous documentary about windsurfing legend Robby Naish is called The Longest Wave: You might be the best surfer in the world, but if you pick the wrong wave, you will look like an amateur. So do big things big: Focus on solutions that solve a problem worth billions of dollars or are needed by millions of people. Forget about the niche. Or as Mike Maddock puts it: "Just like surfing, even if you are a great businessperson who works seven days a week, that wave will never, ever get you to shore."
A great idea is the first step. Turning it into reality is quite another. The road ahead is paved with a number of obstacles. Success or failure is not determined by a single decision. It is important to surround yourself with people who share your passion and want to move mountains with you. In this, looking for a counter-balance with an alternative point of view, character, or way of tackling challenges can help to catch the wave that brings you to the shore.
