Reading outside one’s usual list of publications, blogs, and websites can be very eye-opening. Perspective emerges as familiar subjects are addressed in differing ways. When worldview is, in fact, only hemispheric or nationalistic, it is incomplete to say the least. Asia is exciting in the business world today, as can be parts of Europe. One European publication draws my occasional attention: Entrepreneur Country.
Entrepreneur Country recently held a forum in, of all places, the Royal Institution of Great Britain. (Same location where the first Industrial Revolution began.) Contrast this austere setting with the arrival of Madonna as a guest lecturer and you get the sense that this was not “business as usual!”
Writing about the event, Peter Cook commented that “the day was characterized by entrepreneurs telling real life stories of their hopes, fears, successes and failures.” below he shares some of his observations and take-aways, with a few musical references (Cook is the leader of the Academy of Rock) for good measure:
(Much) discussion was .. around what entrepreneurs do to avoid burnout. Ed Bussey of iTrigga was a prime example, having come to the conference after an all night vigil at hospital on the occasion of his wife giving birth! He did however point out the importance of pressing the OFF button from time to time to avoid the possibility of crash and burn entrepreneurship. Others talked of rituals and routines such as working out in the gym, taking forced holidays, running the London Marathon, going to the North Pole (that’s hardly chilling out!) and so on. Seemingly obvious advice, yet not always taken by busy entrepreneurs.
Several speakers also gave witness to the importance of maintaining naivety if you are to succeed as an entrepreneur. Madonna’s contribution to this area is via her blockbuster hit “Like A Virgin”, which translates to the need to treat each new business situation like it’s the very first time. In particular, Sir William Sargent of Framestore painted a picture of the importance of intuition, creativity and the ability to remain adaptive and flexible as your company grows, saying, “If I stand still for 12 months, I will be out of business 12 months later.”
Entrepreneur Country Founder Julie Meyer and Dr Mike Lynch (offered opening remarks.) Julie presented her ideas about entrepreneurship clearly, concisely and without apology for wanting to create an enterprise economy, which produces both economic and social benefit. Business gets enough hard knocks and we need to start seeing it as an engine of improvement, rather than an evil empire as it is frequently portrayed by Governments and a self-righteous public sector. Mike Lynch extended Julie’s strident start to the day by giving us some home truths on entrepreneurship:
“Without good marketing you can have something amazing and no one will know. Marketing is not cheating”
“Avoid the myth of doing things properly”
Another speaker, Stephen Linnecar, suggested that we gotta have FAITH – Not an allusion to George Michael, but the summary of his presentation which focused on five factors which he regarded as key to success as an entrepreneur: Future, Attitude, Improvisation, Timing and Help. Improvisation featured strongly throughout the day, a point that resonated personally with me, having taught creativity, improvisation and innovation for the Open University MBA for 18 years. However, what impressed me most of all about the speakers at the event was a real and unusual sense of authenticity. Truths were told about successes. Much more importantly, we gained an insight into mistakes and outright failures. It’s much more important for an entrepreneur to learn from their mistakes than their successes and many speakers were candid about their regrets.