Start-up vs Sustainable Businesses – What Separates them?

Passion drives an employee to become a founder, and I believe it’s ‘passion’ that has the power to make or break businesses. This tiny little thing creates so much adrenaline rush in the individual that he can’t sleep at night before he transmutes his dream into reality. So he gets pumped up, takes massive actions and starts with his idea of entrepreneurship.

This is the positive side of passion.

But on the other hand, passion ushers in with its twin brother which is not healthy for start-ups. It is instant gratification; many call it impatience to see results. When individuals become passionate about their idea, they don’t realize that even if they have a strong idea, they also need people, skills, knowledge and efforts to get to the results they look forward to.

We don’t know what we’re in the middle of, because we’re in the middle of it.

As a result, this impatience to get things done, to instantly get the recognition of a big company makes them gallop few steps in between, and the big idea and passion are never able to see the light of the day.

So what would be the best approach to create a sustainable business without losing your passion?

Simple philosophy to adhere to get to sustainability:

Most start-ups don’t value efforts as much as they value results. The philosophy to create a sustainable business is to concentrate more on building skills than worrying about results.

But how would you create skills?

There are few steps you can take to create business skills within a small amount of time.

  • Separate your idea from who you are: Whenever a start-up idea is born in the mind of a would-be-entrepreneur, he begins to think that he is his idea and there’s no separation between his existence and the fruition of his idea. To concentrate more on skills, you need to separate your ego from who you are. Your idea will work if you work on the idea. So look at your idea as a project to work on instead of thinking that the idea is something that represents you.

 

  • Invest in great individuals: Even if you’re just starting out, look for human resources who are more skilled than you are. Hire less, but hire better. If you can’t afford to hire anyone, then take your time, be steady and make a list of skills you need to master. In this age of massive self-study orientation, it’s easy to learn any skill within a short amount of time.

 

  • Think small, act small and be consistent: You can’t form a big company before establishing it as a small company. Think small and do the next thing well. Yes, there will be a voice inside your head that will tell you to go faster, but be steady instead. And keep taking small actions consistently. If your whole focus is on the effort and process instead of end results, you will definitely succeed.

 

  • Become flexible and work on yourself: Business Philosopher Jim Rohn said – “work harder on yourself than on your job.”  Learn from his advice and you need to “work harder on yourself than on your job at hand”. If you do that you will do better job than ever.

These suggestions above seem like old school, but to become big and sustainable, you need to focus more on fundamentals than on new-edgy solutions of start-ups.

What Harvard Business School graduates have to say about start-ups?

In a survey, it was found that Harvard Business School graduates have this to say to you about their start-up experience –

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(Image source: http://www.wsj.com/articles/how-an-entrepreneur-s-passion-can-destroy-a-startup-1408912044 )

 

Only 4% is on the target. What’s alarming is the fact that the individuals who executed slower are higher in number than the entrepreneurs who executed faster. So the key take-away from the survey is that you should go small but in a consistent manner.

Conclusion

At the end, remember to use passion to drive you, not blindfold you.

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