Entrepreneurship is like Test cricket
- Step one: Don’t lose
Rule one in Test cricket: Make sure you can’t lose.
When you’re sure you can’t lose, then you go for the win.
Startups are the same. First, ensure you can’t fail. Cover your overheads.
When your overheads are covered then start looking around for opportunities to make a profit.
- You have to find the gap
Its no good hitting a sweet cover drive if the ball goes straight to the fielder.
You need to find the gap before you hit the ball. And then you need to hit the ball in the gap.
Same for business. Stay clear of crowded spaces. Avoid competitors.
When you find a gap in the market, chase it.
- It’s a five-day game
Don’t attempt a six off your first ball, or experiment with your trademark reverse-sweep, or chance a 50/50 single.
In Test cricket its simple: Don’t take any stupid risks.
A Test match is long. There’s plenty of time to get ahead. First, build a foundation. (See point 1.)
Entrepreneurial life is the same. Don’t rush it. Don’t do anything you will regret. Don’t chase the quick buck.
There’s plenty of time, the trick is to stay in the game and make sure it goes to day five.
- It’s a team sport
You can’t win a Test with only batsmen or only bowlers. Maybe you can draw. But Test cricket is not about draws.
Its about winning.
If you want to win, you need batsmen and bowlers.
Same as business. Business is about winning.
To win you need a team. A team comprises complementary partners.
An entrepreneur doesn’t rely on individual brilliance. He builds a team.
Originally published at The Big Almanack.