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Are You Suited to Entrepreneurship

Could Your Passion Be The Problem?

Passion is all fine and well, but it should be tempered by reality, a clear mission and a touch of humility.

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We take the value of ‘passion’ for granted. You have a business? You have an idea? Well, then you need passion when you talk about it. You talk about it with passion, you get ‘converts’. You get converts, and those converts ‘evangelise’ for you. Passion begets passion begets passion. And let the people say: Hallelujah!

Ugh. There are those of us who don’t respond well to extreme passion.

We’re the sceptics. And we’ve always annoyed the zealots: Why won’t they just listen?! Well, the passion is making it hard to listen.

The problem with passion is that it can cloud your message and overshadow your mission enough that it’s no longer clear what you’re talking about, or even what your business is. The more passionate you are, the less professional you seem – the less human you seem. At some point, passion begins to mask the humanity it seeks to express. Passion has diminishing returns.

Related: Want to Start a Business but Questioning Your Passion? Try This 

The advantage, of course, is that passion costs nothing to implement. It’s not a budget item. You just have to muster it. And this is why it’s overused. Says Mike Manning, co-founder and CEO of DealVector, an online network for fixed-income investors:

“When you’re creating something out of nothing, you’re often selling a vision, because you don’t have the metrics. So I think an awful lot of being an entrepreneur speaking to employees, funders [and] customers is allowing that passion to substitute for metrics.”

But there’s a way to be passionate. A method, even. It involves what absolutely no expert refers to as the ‘enthuse, temper, enthuse’ approach. The idea is to occasionally, and quite explicitly, undercut your passion with self-deprecation or, even, hedging.

The idea is

When you’re talking passionately about your product, idea or business, you need to tone down the enthusiasm, so that it’s obvious to your audience that you aren’t on some one-track mission to convince everyone of your brilliance.

On the highway of enthusiasm, you need to stop and stretch your legs every now and then, take a restroom break, buy some beef jerky. You need to relax and look around. By acknowledging – even vaguely – that your idea is not The Great Idea but one in a cosmos of good ideas, you’re making your notion even more appealing. You’re placing it in a sane context – the context of the rigour that it will take to get the idea off the ground.

“I think you can own the part of the wild-eyed entrepreneur to some degree, as long as you can do it with humour and levity and be clear you’re not taking yourself so seriously,” Manning says. “You need to do it with enough humour so that people understand you’re both in the part and playing the part.”

Wild-eyed is not a virtue. Unmitigated passion is a marker associated with various psychological disorders. You need to seem sane. The best way to do this is to look at your pitch or speech as a conversation. Your passion must be inclusive. Otherwise you’re imposing your idea on people, instead of helping them understand why it’s so good – for them.

In a conversation, you need to pick up on cues. This is not a new idea; in sales you’re taught to ask a lot of questions to home in on your audience’s needs. “If you just start talking without truly understanding your audience, you run the risk of making incorrect assumptions,” says Lee Zane of the Department of Management at Rider University.

“When I used to do sales work when I had my software business, we would do conference presentations where we’d invite 20 firms in and present our software, and I wouldn’t start until I’d asked a bunch of questions. Why are they doing this now? What problems do they have? Then I could go in and be reasonably enthusiastic in a presentation, because I knew what they were looking for.”

You can’t know what people are looking for when you’re too busy telling them what to look for. Passion is important, but it has to be tempered. It has to seem connected to reality and to your mission that was (presumably) thoughtfully considered and rigorously executed. It’s good to seem passionate. It’s better to seem driven.

Key Technical Matters

  • Use body language to express passion.
  • As long as it’s body language that doesn’t involve raising the roof. Or pelvic thrusting. Or indiscriminate fist bumping. Or shielding your eyes from the wattage of your own brilliant idea. Or chest beating, which has worked for exactly two people: King Kong and Celine Dion.
  • Closing your eyes and reciting a quote you found by Googling ‘passion quote’ will not make you seem authentically passionate.
  • Passion butts right up against a lot of other, less positive qualities, such as: mania, scumbaggery and an eagerness possibly fueled by cocaine. Fine lines there.
  • Words to use instead of passion (which is an overused word): hunger, enthusiasm, drive, excitement, zeal.
  • Not-so-good words to use instead of passion: obsession, infatuation, paroxysm, strong urge, zealotry.
  • Your general demeanour should be somewhere between ardent and fervent.
  • If you find yourself being merely keen, you are not passionate enough.
  • If you are vehement, you are too passionate.
  • If you are taken away by the police, you are way, way too passionate.

Want fervour with that?

We asked Loren Bouchard, writer and creator of the Fox animated sitcom Bob’s Burgers, to tell us what makes Bob, passionate owner of a hamburger joint, a well-rounded character.

“The key to balancing passion is humility. When we write a character who’s super-passionate, but we want them to be likeable and relatable, too, we use doubt and humility as our secret ingredients.

“Bob knows he makes a great burger – a truly original and creative burger. We’ve layered Bob’s character with all the attributes of a real artist – a beef artist, let’s call him. And Bob, like many real artists, has pursued his passion to the point that he is actually trying to make a living at it. And that’s when things get tricky. When the artist doesn’t immediately succeed in his chosen field, doubt comes – he sees himself struggling, sees his family having to sacrifice, to do without, all so that he might practice his art.”

Now you have a relatable character. That guy is the guy you want to meet. He’s humbled by circumstance, but does he still make a great burger? Of course he does. He makes the best burger around. He’s confident and resilient, and he’s making burgers at the peak of his burger-making powers. You love his burgers!

He just can’t pay his bills. He can’t afford that nice thing he wants: The condo with the yard, maybe. Is he bitter? Well, define bitter. He’s exactly the amount of bitter that many great flavours are: Coffee, Scotch. (Those are bad examples. You get the idea.)

Passion and confidence are great, but without humility they seem naive, unrealistic, teetering toward narcissistic. Add a healthy dose of humility, though, and you’ve got the makings of what we might call Character with a capital C. Real character is a good ingredient for storytelling and for humans, too.

Related: Alfie Cox The Racing Legend: On Humble Pie and Passion

Are You Suited to Entrepreneurship

4 Entry-Level Jobs That Will Prep You For Entrepreneurial Success

Success is a journey, not a destination, so think hard about where to start.

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Entrepreneurship might look like an unruly beast, especially when larger corporations are involved. However, those in the daily grind of entry-level positions are already developing the necessary skills to bring this wayward creature to heel.

“One of the first truths you’ll learn about entrepreneurship is that you’re 100 percent responsible for your success or failure,” says fellow Entrepreneur columnist Mike Monroe.

Entry-level positions in many different areas – including sales, marketing, development, project management and customer service – provide the perfect environment for future entrepreneurs to learn that truth and hone their skills.

Learning to fly from the ground up

While the average entrepreneur is 40 years old, younger people eager to make their own way have plenty of developmental opportunities that can help them hit the ground running. According to a 2017 survey from Heidrick & Struggles, nearly 15 percent of CEOs at Fortune 500 companies started in the sales department. These high-powered executives didn’t waltz into the C-suite on day one; they learned the tricks of the trade on the front lines with everyone else.

Related: Entrepreneurship Is All About Overcoming Obstacles

If you crave the life of an entrepreneur, don’t let the barriers to entry get you down. Take one of the following entry-level jobs and use your time in the workforce to get the experience you need to launch your own business.

1. Sales

Inbound or outbound, sales experience can give any would-be entrepreneur a leg up. Not only do you learn how to communicate effectively in a sales position; you must also understand the products you sell (and the brand behind them).

A job in sales will teach you to stop trying to convince people that they need what you have and start listening to what they want. Once you recognise that the market dictates what you sell, and not the other way around, you’ll be prepared to run a successful start-up.

2. Human resources

human-resourcesHR pros keep businesses running. If you work as one, you will quickly learn how much things like timely payment, accurate sick-day counts and health insurance matter to workers. To keep your team happy, you’ll need to know what employees consider to be important. What better way to learn that than to take a job where they let you know?

Jobs in HR also provide crash courses in communication skills and legal compliance. For example, it’s much better to learn that a manager can’t force an employee with folliculitis to shave his beard before the decision affects your pocketbook.

Related: Going It Alone In Business? 5 Reasons That’s A Really Bad Idea

3. Customer service

It doesn’t matter what industry you’re in: If you deal directly with customers, you learn how to handle tasks quickly while keeping a friendly face.

Customers range from the kindest people you will ever meet to those who become enraged when they can’t double their coupons. As an entrepreneur, you and your team will deal with all of them. Learn how to respond to customer complaints on someone else’s dime, so that when it’s your turn to do so, your learning experiences won’t have a negative impact on your bottom line.

4. Leadership

To be a truly successful entrepreneur, you must learn how to lead a team. Leaders invariably learn some tough lessons at the helm, but if you wait until you are running the whole operation, those lessons could cost you some of your best workers.

This may seem like an odd suggestion for an article on entry-level positions, but note that you don’t need to be in a leadership position to learn leadership skills. From your first day on a job, your supervisors will be sizing up your initiative-taking ability and your critical-thinking and time-management skills to determine whether you have the capabilities necessary to take on more complicated projects. Look for opportunities to listen effectively and motivate those around you – this will help you hone your leadership craft until you get the opportunity to take on the role for yourself.

Related: Start This Business With Zero Advertising Budget And No Need For Premises

These positions and skill sets provide invaluable lessons for entrepreneurs, but they’re hardly the only ones. Reporters, insurance adjusters, accountants, teachers and consultants – these jobs and many others are full of learning opportunities for aspiring entrepreneurs.

If you have to work for someone else before you found your own company, don’t treat the opportunity with disdain. Learn everything you can on the job, so that when your time comes you can use those lessons to lead your company to success.

This article was originally posted here on Entrepreneur.com.

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Are You Suited to Entrepreneurship

Youthful Entrepreneurs Light The Way

If there’s one thing these go-getters have in common, it’s a determination to succeed. As we celebrate Youth Month, let’s learn from their example.

Morné Stoltz

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South Africa is already a very young country with 45.88 percent of the population under 24; by 2050, this proportion will have increased as the youth population is expected to double to 830 million. Already, 50 percent of the youth are unemployed, so it’s very clear that young people can’t sit around waiting for jobs to come their way – if they want a satisfying life, they will have to take charge of their own destinies.

This is just what these four inspirational young people have done

the-mouse-hole-imke-de-villiers1. Imke de Villiers

All of them started young. Imke de Villiers, the youngest of the four, is only eleven, but her first book, The mouse hole, is available on Kindle and in online stores. It is evident that a big part of her success is the lead given by her parents.

“At the beginning of the year, we all had to write down three goals for the year, and the book was one of those,” Imke says.

“I have very supportive parents. My sister and I are challenged frequently to think outside of the box. We tell stories, think of money-making ideas and always use our creativity.”

Related: 10 Young Entrepreneurs Under 30 Share Their Start-Up Secrets

2. Ingrid Moruane

Ingrid Moruane was also an early starter. “Since I was in high school, I’ve always seen myself as the boss. I’m a very driven person, and love working under pressure,” she says. Ingrid was fortunate to get some work experience as a project manager and optical assistant before following the advice of her then-boss to go out on her own, which she did in 2015. Now, aged 24, she will be moving out of her home office to premises in Joburg’s trendy Melrose Arch.

Ingrid’s business is Ing Management, and her concept is a unique one: she provides a portfolio of non-core services to government entities or corporates – event management, team-building events, catering, stationery and even office furniture. She uses trusted subcontractors to get the work done – what she provides is the vision and management. It is a turnkey service designed to remove a lot of detail off the to-do list of a corporate employee.

She sees funding as one of the biggest hurdles she has faced – and this is something one hears a lot about when talking to entrepreneurs. However, she pays tribute to the innovative approach taken by her bank, which stretches to introducing her to potential clients.

“More banks should do the same kind of thing,” she believes.

Believe in yourself

3. Sheldon Crabtree

deep-roots-night-market-sheldon-crabtreeSheldon Crabtree has a similar drive to succeed on his own terms. Although his parents sent him and his siblings to good schools – he is an alumnus of Pretoria Boys’ High School, which also produced Elon Musk – there was little spare money. “If we wanted personal things, we had to work for the money,” he says. As early as Grade 5, he would save his pocket money to buy sweets to sell at school; he also refurbished items for resale.

No surprise, then, that he decided not to go the route of getting a degree and a “safe” job, but rather took responsibility for his own life. He likes the idea of benefitting from his efforts.

Now aged 24, Sheldon is the proud owner of a woodworking business and the Deep Roots Night Market, which is held on the first Friday of each month in Groenkloof, Pretoria. The market provides not only gourmet food but also entertainment in a beautiful setting. Around 3 000 people attend each event.

Like Ingrid, he found start-up capital a major challenge – his solution was to take a part-time job that gave him some seed money and spare time. The woodworking, which began as a hobby, also provided some initial funding.

Related: Funding And Resources For Young SA Entrepreneurs

4. Zwelakhe Khuzwayo

Zwelakhe Khuzwayo, 26, is a great example of somebody who saw entrepreneurship as a way to make lemonade out of the lemons that life gave him! He lost his job but, nothing daunted, drew on the inspiration of his friend, Thulane Maestro Mathebula, to set up his own business making promotional videos and producing music.

“I’m one of the few people doing this kind of thing in the north-eastern areas of Pretoria, where I live,” he says. “I hope to gain recognition for the work that I do and hopefully my company will grow and expand.”

Start young

What all these inspiring young people agree on is the need for entrepreneurs to start young, and to believe in themselves.

Zwelakhe says that if you put in the work and effort, you will never go wrong.

For Imke, it is all about daring to be who you authentically are – you will always find a way to achieve what you want. “There are always other ways, other options,” she says.

Ingrid has stayed true to her childhood ideal of being the boss.

Sheldon (like Imke) says that parents have a big part to play. Being supportive is part of it, but it is also important to get their children on the right path. “Let your kids understand the power of creating their own wealth. On top of the set chores, let your kids do extra chores for money,” he advises. “Ask the school if they will be able to sell anything during break time, and make sure they get to grips with the social, financial and planning aspects of business.”

As the old saying has it, the child is the father or mother of the man or woman. That is very true – but it also helps if there is an adult helping the process along! As adults, let’s make sure we fulfill this role in the lives of our youth.

MiWay is an Authorised Financial Services Provider (Licence no: 33970)

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Are You Suited to Entrepreneurship

The Kindling Of The Entrepreneur Spirit

The principle of entrepreneurship is to observe challenges and find ways to improve them while simultaneously weighing up the relevant costs and benefits.

David Hatherell

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Many university students are funnelled into a conservative career such as a lawyer, engineer, actuary or accountant. This is often the popular choice and has the advantages of receiving stable income and benefit packages – it is a “safety net” career and offers the prestige of the title and security of the degree.

That being said, there are a lot of insights that you may miss if you use the narrow definition of what entrepreneurship means in the traditional sense – “starting your own business.” Entrepreneurship is more than that and, in my view, should be looked at using a three-principles based approach. The principle of entrepreneurship is to observe challenges and find ways to improve them while simultaneously weighing up the relevant costs and benefits.

Principle 1 – Adding Value Within Organisations

In my field, being an actuary with a data science background, you always need to find a better way of doing things. We need to use our resources, skills, and systems in a manner that would support our organisations to ensure that we add value to society.

Related: Why You Shouldn’t Quit Your Job To Start A Business

In essence, we need to use statistical or modelling techniques responsibly to ensure that three key focal points are met, which is easily adapted to becoming a viable entrepreneur, with a trusted reputation:

  • We do not mistreat or take advantage of consumers;
  • The results of initiatives or strategies are measured appropriately; and
  • There are no biases based on torturing data to get the results you want.

In addition to doing a good job, we needed to ensure that the work we do can be repeated, with ease and automated where relevant. This will ensure that our influence is long lasting and scalable, which is also critical to starting your own business or initiative. Most long-term solutions should also be flexible enough to add value to society, in whatever touch-points they are impacting.

Principle 2 – Benefitting Society

This is not about how much you give but rather what impact you have. We need to be honest with ourselves and determine appropriate measures to monitor success and what our ROI is aimed at becoming. This is often a challenge and is oversimplified or overlooked by many. For example, we may celebrate success metrics by reviewing how many scholars we fund or how much money was given to upcoming entrepreneurs.

This measure will have little benefit if all the scholars drop out or all entrepreneurial initiatives fail, we will essentially be celebrating an empty figure. The impact we have needs to be long-lasting and setting up society for success, with or without your continual influence.

Responsible and appropriate ways of measuring benefit will help add value to many initiatives. It’s a significant risk starting an initiative without any key performance indicators or measures of success, as you will have nothing to benchmark against and no measure to celebrate or punt as transparent and real success measures.

Principle 3 – Starting an Entrepreneurial Initiative

Some skills are necessary to start your initiative and working for a large organisation may help you build these skills or refine them. Key performance indicators are often used within larger organisations, and these companies may have proper structures in place to learn communication skills, the importance of planning, setting up budgets, pitching ideas or tracking results over time.

Related: How To Survive 150 Straight Rejections

As such, some young adults prefer entering the world of work as a first step and then using what they learn to start something new in the years to come. Whichever approach you take, ensure you are learning as much as you can and are open to mentorship, guidance and constructive criticism, we can’t possibly know everything, and there is always more we can learn and improve on.

Bringing It All Together 

Starting an entrepreneurial initiative will require a lot of bravery and resilience, an open mind, a good idea, relevant skills and support (financial and social).

What I admire, is that a foundation such as the Make A Difference Leadership Foundation has robust structures in place to support and encourage their scholars, should they wish to start an initiative in the future. And despite the prestige or the safety in obtaining a degree, the foundation inspires the scholars to follow their dreams, no matter how audacious they might be.

With the vision of the Make A Difference in mind, we believe that our scholars and fellows will be able to contribute and add value to organisations. Some may start their own initiatives and those who don’t will still use the principles of entrepreneurship in their daily lives. We all aim to continuously identify solutions that will add value to those around us.

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