All entrepreneurs eventually face a Dorothy moment: vultures, vampires and bottom feeders — oh my! That point-in-time when so-called business people (i.e. those who do not create) try to convince you that what got you here in the first place is now somehow wrong. And you guessed it, their services are the ticket to making it all better. Hogwash.
When I see a company fall for this PT Barnum routine, I know the end is near. (Last one out, turn out the lights!) These critic-consultants whispering in your ear have no long-vision, hatched no dreams and have no ability to meaningfully contribute to the intellectual property. They only want to make money from it, and will bail the moment the company has been sucked dry. Which happens more times than not.
So why is false greed seductive? Sure, some owners are in it solely for the money. These sharks will always be sharks, and are easy to spot. (Hint: Usually the ones who don’t create from the start.) What is far sadder, is when an inventor-entrepreneur is convinced the startup must grow-up and become corporate.
Fresh ideas are traded-in for the same rotten processes that have been recycled for over 50 years. Innovative thinking gets scrubbed vanilla because the society norm is to be a lifeless corporate brand who plays it safe. The team wanting to change the world gets labeled a cost, and either bails or gets laid-off. The vultures, vampires and bottom feeders become co-owners, executives and the ‘professional’ workforce. In short — the dream dies.
How do we stop this madness? For starters, simply look to the success stories. Companies like Facebook and Pixar all share a common trait — they follow their own path, changing the worlds in which they live (and never vice-versa). By sticking to a long-vision, honoring innovation and creativity above all else and understanding it’s the audience that matters, these startups become the de-facto brands.
So, trust the vision of the founding team. These are the folks who work many a night and weekend for the passion of the idea and the potential to rock the planet. Treat them right, and they’ve got your back. A meaningful company is forever formed. From there, grow positive by learning to identify the good talent from the critic-consultants. And yes, there are great mentors, investors and partners out there who are willing to help. AKA, the ones who know how to create.
Turning advice into action:
- Surround yourself with people who share the vision
- Always pay more for creators than advisors
- Embrace trial-and-error over playing it safe
- Innovation is a cost — the cost of doing business
- Forever value the founding team and your core audience
- Forcefully ignore/remove those who ‘clean-up’ companies
- In the end, know it’s more profitable to lead than follow
Most importantly, it’s never too late to do the right thing. And, it’s always better to never do the wrong.
Tags: entrepreneurs, startups
