Cameron Chell – Passion is the #1 Cause of Failure in Startups, Principle 4
Start-up Entrepreneurs are famous for their passion, in fact more writing than not talks about how passion is the #1 key to success in a start-up. I am here to tell you that in those writings passion is being mistaken for tenacity. I would go so far to say that passion may be the #1 reason for failure in a start-up.
Passion is an emotion of attachment and ego and from what I have seen, this attachment and ego in a startup is a sure sign of implosion. Start-ups that attach to their product or service and “know” it is the “right” way are risking everything based on their bias.
The first and foremost thing in a start-up is constructive conflict which need to be alive and well within a management team. This can occur much more effectively if the principles are detached from HOW they are going to accomplish their objective. A great way to facilitate this detachment is to understand WHY you are doing your start-up. Focusing on the WHY, not attaching to the HOW of how you are going to accomplish the WHY. This will allow you to be constantly challenged openly…and adjust accordingly.
Ask yourself and your team the question “Why does this company exist?” The answer to this question is what guides your decisions. Do whatever it takes to accomplish WHY you are doing your startup, do not do whatever it takes to accomplish HOW you are doing your start-up.
Cameron Chell – The Alignment – Principle 3, Step 3
It has been an amazing two weeks. Our new daughter is home from the hospital and Mom is doing great! Thank you to everyone for their support and energy. I am truly blessed, thank you, thank you, thank you. Somehow I think that I will need to sharpen my skills on Principle Three with a daughter in my life, (gulp).
Principle 3 is all about accepting that the only thing in anyone’s control is our perception of what is occurring. Once you have done Step 1 and Step 2 of Principle 3, the solution to the challenge in front of you will start to be clear. The Alignment comes in looking at question 3 of Step 1 and 2 and realizing that what you think the other person, team, project or situation needs to do for you is the same thing that you need to do for them/it.
The question now becomes, “Are you willing to take the action you outlined in Question 3 of Steps two?”
If you are hesitating ask yourself this question:
“What is the price of not following through on the action I have outlined in question 3 of step 2?”
After you have answered the above question you can easily decide whether or not you want to move forward with the Alignment based on the price of doing it.
It is important to note that in moving forward with any Alignment that you don’t have any expectations of what the reaction of the other parties will be. Alignment is not about getting someone or something else to do what you want (this is out of your control), it is about doing what you need to do.
Step three can seem daunting at first but given time and practice it becomes an automatic process that can occur in its entirety within a matter of minutes or even seconds when you are suddenly faced with a situation that is out of your control.
Cameron Chell is a venture capital management consultant. He spends his time with investors and executives to determine what is most important and how to specifically achieve it.
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