I Could Never Be an Entrepreneur. So I Did This Instead
Six years ago I wrote the article Lessons Working for a 1990’s Start Up about what it’s like to work for an entrepreneur. I believed then—quite firmly—that I lacked the key ingredients to be an entrepreneur: guts, extroversion, resilience, willpower, etc. So instead of becoming an entrepreneur, I started my own less gutsy “side hustle” in 2019. I was just searching for my “next” thing; a thing that would seem less risky. That turned into this thing called Forty-Two Consulting. Because so many have pursued this “side hustle” approach, the world apparently created a different word: solopreneur. So, is that what I am? Does the label matter? Does the “solo” approach differ from the ostensibly more sexy “entre” prefix?
To explore those questions, I revisited that article, wondering what changed in me, my vision, my values and if it really matters what I am called. The original article is presented below, with “Forty-Two” bold italics comments inserted. Enjoy the read.
Lessons Working for a 1990’s Start Up
First, let’s clear this up. It wasn’t called a start-up in 1990. It was simply a company with unpredictable cash flow, three computers, and a few customers. Not much sexy about that.
Forty-Two: I am simply a company with unpredictable cash flow, one computer, and a few customers. Pretty sexy, I think.
When I joined in 1993, CSM Corporation was a two-year-old, virtually unknown automotive research company based in Lansing, Michigan. Seventeen years later as CSM Worldwide we were the number one automotive forecasting company in the world with 130 incredible employees spread across eight global offices. The success was not by accident (though there was some luck) and not without a lot of fun (what a ride it was).
Forty-Two: When I started Forty-Two Consulting in 2019, I was a virtually unknown executive coach with no clients. Six years later, I am a slightly-less-virtually-unknown executive coach with a handful of clients. The success was not by accident (what a ride it’s been).
Led by a smart, determined entrepreneur, Craig Cather, and his partner wife Katie, we changed the world. Or so it felt. At least our part of it. This little company set the standard for customer service, dependability, and coolness that any of today’s “unicorns” would die for. And there sure are a lot trying.
Forty-Two: Led by just me, I am changing the my world. My little company is setting my standard of coolness (just creating the right name was fun).
According to Global Entrepreneurship Monitor (GEM), approximately 100 million start-ups are launched in the world each year. While that’s a staggering number, I reckon that most people will first start working for entrepreneurs before (if ever) working as entrepreneurs. The risk and pressures of starting and running a new organization are enormous. I admire the commitment it takes to succeed. Yet, I’m not an entrepreneur and don’t pretend to know what it means to be one.
Forty-Two: The risks and pressure of starting this venture were mostly self-imposed. But they are as real as a punch in the face. I know the pressure of creating something from nothing—all in an effort to fulfill my purpose.
What I do know, however, is what it takes to succeed working for (and with) one. And that too takes commitment, and luck, and perseverance, and antacids… and a whole host of other skills (soft and other). And while 1993 is a long way from 2019, the perspective and lessons learned 20 years ago apply equally well today. Here they are…
No matter what number employee you are, know your role. If you are early in the firm’s journey, you will likely experience an entrepreneur who is struggling to find the balance between strategy and tactics; between control and letting go. Learn what your entrepreneur needs and fill that role.
Forty-Two: I have recognized that I am ALL roles. And I am not good at all of them.
Related to above, if the entrepreneur needs a tactical, operations person and you’re a vision, strategy person… Bad fit. Buyer beware.
Forty-Two: I struggle being both the strategy and tactics person. But that’s the game. Until I decide it’s not.
Do not take a job at a start-up to escape a “corporate” job. If you think you don’t have the opportunity to innovate in your current role/company, you’re just not looking hard enough.
Forty-Two: I did not start this thing to escape my “corporate” job. I searched for my purpose and built my thing around it. Regrets? Sure. But forward is the only option.
You can’t hide in a small company. Don’t try. Show up every day.
Forty-Two: Show up. Don’t show up. Your choice. Results will vary based on your choice.
Always, always speak about the work you do aligning with the organization’s mission.
Forty-Two: Ditto. Double ditto.
Small companies thrive when the entrepreneur’s vision is translated to the work getting done. If you buy into the vision and mission, make sure every employee knows the role they play in advancing it.
Forty-Two: I speak about my vision to EVERYONE. Sorry about that. No. Not sorry.
It’s hard, really hard, working for an entrepreneur. Decisions made at the kitchen table on Tuesday night become the new company strategy Wednesday morning. If you can’t stomach sudden, short-term shifts in thoughts and strategy, working for an entrepreneur will be frighteningly awful.
Forty-Two: Working for yourself can be frightening. Or not. Your choice. Do it all alone or find some support. Advice? The latter works better.
It’s really, really fun working for an entrepreneur. You’ll have influence on the firm’s strategy, direction, and hiring. Make sure you hire people who share the vision.
Forty-Two: I have set the firm’s strategy, direction, and hiring (or not). I try to have clients who share that vision.
No matter how far you go with the company, no matter your title and your influence, remember it is not your company. Respect, always respect, the decisions of those who took the chance, who put payroll on their credit card in the early years, who listened to you when you had trouble, and who respected your opinion.
Forty-Two: It’s my company. But I need counsel, advice, and guidance. I am doing this alone but can’t do it by myself.
You are the culture; you help create it, shepherd it; don’t f*ck it up.
Forty-Two: I refuse to f*ck it up. But sometimes I get close.
Entrepreneurs don’t know any more about the future than anyone else. If she says she knows where the company will be in five years, she’s lying or delusional. In either case, beware.
Forty-Two: I have no clue where this thing will be in five years (or five weeks). But I keep showing up and discovering what’s possible.
But, if you find one that knows the “true north” and can speak a clear mission, follow her.
Forty-Two: My true north of “connecting people with purpose” is still blazing bright, yet sometimes obscured by the clouds.
And finally, it will end. But maybe, just maybe, you will have been part of something extraordinary; a foundation on which the rest of your life is built. It did for me. And… one day… it might just be the experience I need to become one of them.
Forty-Two: Hmm. Guess what it’s called doesn’t matter. The only thing that matters is that I pursued my “next.” And I’ll keep pursuing it until it ends (or I find the next next).
So, what’s your “next”?
Notes:
Find more insights on the Forty-Two Consulting “Thinking Out Loud” blog
