The elevator of success is out of service. So please take the stairs.
That’s the great opening line from EggsTravaganza, a local NYC food cart, in the video below. I’m sure they didn’t come up with it, but it’s a great saying.
This reminds me of Mark Cuban’s post about how he fought the good fight non-stop to get where he is today.
Consider this post the TL;DR of this great Inc article by Leigh Buchanan. The article itself picks insights from a University of Virginia study by Saras Sarasvathy of 45 serial entrepreneurs.
There are two extremes of successful business people illustrated by the study:
“Sarasvathy likes to compare expert entrepreneurs to Iron Chefs: at their best when presented with an assortment of motley ingredients and challenged to whip up whatever dish expediency and imagination suggest. Corporate leaders, by contrast, decide they are going to make Swedish meatballs. They then proceed to shop, measure, mix, and cook Swedish meatballs in the most efficient, cost-effective manner possible.”
This illustrates the difference between successful entrepreneurs (think scrappy startups) and successful business people (think MBAs). Going with the flow VS sticking to a plan.
Entrepreneurs prefer lean start ups:
“Rather than meticulously segment customers according to potential return, they itch to get to market as quickly and cheaply as possible, a principle Sarasvathy calls affordable loss.”
As long as they iterate fast and bootstrap, the cost of failure is time lost. Even then, valuable lessons are learned.
Your first customers are much more valuable than investors:
“Sarasvathy says expert entrepreneurs have learned the hard way that ‘having even one real customer on board with you is better than knowing in a hands-off way 10 things about a thousand customers.'”
This makes sense when you think about it. A customer is someone who has a demand for your product. Investors can help you scale or network, but they can’t prove the market as well as a legitimate customer does.
Entrepreneurs don’t worry about competition since they don’t see themselves competing directly:
“Entrepreneurs fret less about competitors, Sarasvathy explains, because they see themselves not in the thick of a market but on the fringe of one, or as creating a new market entirely.”
As this relates to online startups, don’t worry about the existing competition since your product won’t be the same. Ask any entrepreneur and they will tell you why their product/service is different and will revolutionize the space.
The whole article is a great read as it takes advantage of many successful entrepreneurs. Sites like Mixergy profile one person at a time, whereas this article draws upon business leaders in aggregate.
Violin
What follows is more rant about life than my usual techno babble.
Passionate People are Successful
There’s an idea that you should do what you’re truly passionate about to succeed in life. Sure, you can succeed doing something arbitrary like waste management, but no kid growing up has a passion for garbage disposal. People do have passions for careers like sports, art, and even mathematics. This is the career advice 101 repeated ad nauseum: do what you love for a living.
The (unanswerable) question is what causes people to be passionate about something. People can be passionate about a subject (such as chess, fishing, etc.) without being successful. For the sake of this post, let’s assume that passion and success go hand in hand.
Further, I’d like to explore possible causes of why people are successful at what they love. This is because I’d like to think that a person has some advantage over another person doing the same thing when they have more passion.
Why are people passionate about what they do? How did they get that way?
I really do not know much about the Andretti story, but it helps to convey my message so I’ll use it as an example. Mario Andretti can be considered the Michael Jordan of racing. That is, his name is synonymous with excellence in racing. It’s possible that his sons and his grandson all have this gift of racing due to Mario Andretti’s natural racing abilities.
Michael Phelps won numerous Olympic Gold Medals and spends as much as 5 hours a day in the pool. Lance Armstrong won several Tour De Frances and may ride 6 hours a day training. Elite athletes despite being extraordinarily gifted still train hard since their job is to prepare for their competitions.
There is a great Steve Jobs interview (NSFW) describing how Jobs’ father taught him craftsmanship, Silicon Valley was the right place, and how he met Steve Woz. While everyone recognizes Steve Jobs as a genius (a point I’m not denying), his history is fascinating. Steve’s fourth grade teacher, Imogene Hill, turned him from a troublemaker into a person who found a passion in learning. Steve’s neighbor, Larry Lang, showed him how to work computers when he was 12. Steve even says in the interview that the Apple I was “for hobbyists” and neither he nor Woz “had any idea that this would go anywhere.”
A Mix of Factors
There are many reasons to be interested in what makes people passionate and successful in life. One self-serving reason is to be able to emulate success for yourself. Another possible reason is that society would be better off if we could isolate individuals and create more opportunities for them to become passionate and successful in their craft.
It’s likely that successful people are not successful from a single cause: genetics, dedication, or environment. There’s a confluence of these and other unidentified factors that lead to great people in history. In the case of Mario Andretti’s sons, was it due to the genes, hard work, or upbringing that led to success? Surely, there’s a self fulfilling prophecy somewhere when your father is Mario Andretti to become pressured into the next racing great. That’s not to say that the sons (Michael and Jeff) didn’t train hard to become successful. Also, Andretti’s sons have access to a more fertile racing environment (money, instructors, etc.) than most families.
Matchmaking
If I’m allowed to go out on yet another tangent in this rant, I’d like to talk about maximizing the possibility of people to have a passion for what they do in life. The sad, sobering reality is that most people live, by definition, ordinary lives. Most people don’t grow up to become astronauts, rockstars, or presidents. Instead people work at banks, supermarkets, etc.
I feel like the current US education system could do a lot better in terms of matchmaking. Perhaps this is a market opportunity for those who want to profit off the eager industry of parents paying to provide an advantage to their kids.
While I don’t have a concrete, tangible example to point to, my concept is that of an exposure testing system. The idea is that everyone is better at some things and worse at others. If someone has fast reaction times, they may look into being a race car driver or an air force pilot. If another kid has great memory, maybe history would better suit them. In this system, kids at a certain age would be exposed to an exhaustive battery of tests and then recommended to try certain tasks. When I say try certain tasks, I mean actually try a round of golf, play a musical instrument, etc.
The current education system exposes kids to a variety of concepts, but I’m envisioning a test that deliberately measures many traits and matchmakes kids to many, many concepts in an attempt to expose them to an obscure profession that they would have never heard of otherwise. I imagine kids currently have a very high miss rate when it comes to finding out what they have a passion for doing. What if Tiger Woods was never exposed to golf at age 2? If he was in any other family in America, he probably would not have picked up golf at 2. If a kid isn’t exposed to music, sports, etc. when young, they won’t be able to discover and learn their passion when they are most capable of learning.
I’d like to think kids who are exposed to something early on, develop a passion, and master their craft tend to be very successful. The good news is that a person doesn’t have to start something while 2 years old to become good and successful. A person can start something in their 20’s, 30’s, or later and still become great and successful. I would make the point that the kid who started extremely young will have a significant leg up on someone who starts something later in life (say at 25 years old).