What People Get Wrong About Entrepreneurship
The following is adapted from Tiger by the Tail by Marty Park.
The first time I grabbed the tiger by the tail, I wasn’t ready. A friend and I decided to leave university and partner in business. We figured that starting a software company was the fast track to success. Everyone knew that creating a company like Microsoft was the only way to go, and we firmly believed that we’d strike it rich and retire in about six months. How tough could it be?
We had what many entrepreneurs and first-time business owners have — what I call, “blissful ignorance.” If we had known, or had the slightest idea what we were in for, we might not have attempted it. I would have stayed in school, gotten a degree, and changed the course of my life.
Instead, I have experienced the unforeseeable highs and lows that can only come from being an entrepreneur and business operator. I have signed seven-figure contracts and I’ve feared the bank foreclosing on my loans. I have built physical businesses from the ground up, from concept, design, and construction to opening. I have also been so broke that I worried about having enough money to put gas in my car just to get to work.
I have moved in and out of multiple industries based on what seemed interesting to me at the time. No science to it, just intuition. Many will suggest that this isn’t the best approach to choosing companies or industries, but I have always moved toward things based on instinct first, and business evaluation second. I believe that both are required to make a venture work.
Since my first software company, I have operated thirteen other companies in six different industries, giving me a depth of experience obtained by few entrepreneurs. Along the way, I’ve developed strategies to grab hold of the tiger of business, tame it, and ride it to the finish line.
More Than a Marathon
Most books discuss the start-up phase of a business, but what many people don’t realize is that deciding to begin a business is the easy part. Early on, a start-up is primarily a checklist of actions and steps before beginning operations. Picking a name, designing a logo, securing a lease, ordering inventory, and finding a supplier are all relatively easy. It takes months to get it all done, but like training for a marathon, it’s just a lead-up to the main event. It may be challenging and strenuous, but it’s nothing compared to what the actual race will be like with competition on the field.
The fact is that business is far more than a marathon. Compared to running a business, a marathon is more like a sprint, just a quick moment in time. Entrepreneurship is a years-long, ongoing process of growth, challenge, and development. Every day is game day. If it were only three to six hours long, like an average marathon race, people would be signing up and winning at business all the time. Unlike a race with a finish line, business ownership is a nonstop endeavor, demanding peak performance at all times. It wears many people down.
Entrepreneurship only really starts when you sell something, which is the first step in the race. Until you actually make a sale, all the actions you are taking are simply preparation. You may be hiring, producing, and systemizing operations, but nothing matters until you sell something. Only sales will justify your efforts, which is why I am a huge sales advocate. It is the critical driver of every company, whether you are selling goods or services. Sales is when the rubber hits the road. It’s where all the challenges, variables, and situations unique to your business, and common to all businesses, finally begin.
Yes, each type of business is unique, yet all are remarkably the same. I have worked with companies and owners worldwide, and I’ve seen that everyone tends to think that their location, industry, or product makes them totally different. It doesn’t. Every business is trying to sell or market something, administer it, finance it, staff it, or produce it. There are universal problems that arise requiring universal solutions. So, if you’re wondering whether this book will address your business and your unique circumstances, you can rest assured that it will. The universal nature of business is indisputable.
The Importance of Mindset
Above all, I emphasize mindset, because the owner’s mindset is the strongest determining factor for the success of any company. It is where ideas are initially hatched and evaluated. The owner’s mind is central for determining how a business runs day-to-day. The owner provides inspiration and direction for all decision-making. A company’s business operations are a direct reflection of the owner and their thought process. The owner’s mindset is the foundation for the success or failure of the business.
However, there comes a time when every entrepreneur and business owner can lose sight of their capabilities. That’s where this book comes in. My hope and objective is that in reading this book, you are inspired to keep going and hold fast to your entrepreneurial dream. On these pages I provide actionable, nonacademic solutions to the challenges and business problems facing every entrepreneur. Here you will find the strategies and tactics that will make winning the race of business ownership easier.
Running a company is the most challenging choice someone can make. It’s a fast-moving game where the players change position and the field shifts every day, but one where you can change the rules and innovate to create a new game. If you are already operating a company, then you know the daunting challenge you have chosen. I believe that entrepreneurship is the most rewarding career choice a person can make. Nothing drives your learning and development like running a business. Nothing makes you reflect more on “you” than the struggles of business ownership and operation.
One of my favorite moments as a business coach was with a former client who went from operating a successful furniture business to deciding she was going to launch a fashion store. She said it had finally occurred to her that she was no longer just a furniture business owner, but a cross-industry entrepreneur. She had come to understand, in mind and heart, that she had the know-how and skills to start any company she wanted, and make it a success.
You can learn more about entrepreneurship in Tiger by the Tail on Amazon.
Marty Park is a rare breed. At the age of twenty-one, while most students were neck-deep in homework and weekend plans, Marty was running his first company with eight staff members on payroll. Since then, Marty has owned and operated thirteen companies in industries including software, audio production, food service, franchises and marketing. Along the way, he’s become an expert at business growth and the personal growth that comes with it. Marty is also an award-winning business coach who’s worked with clients to conquer adversity, transform their performance, and achieve their ultimate vision of success. In this work, he’s been involved in the launch, growth, restructuring, or financing of a multitude of companies internationally.
