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Kasten Spethmann, What Entrepreneurs can learn from Athletes — InnovaBuzz 535

Kasten Spethmann, Your Startup Life

  • Why athletes make good entrepreneurs and what entrepreneurs can learn from athletes.
  • Why it’s important to differentiate between what you do and who you are.
  • Building a career or business around your dream life.

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Show Notes from this episode with Kasten Spethmann, Your Startup Life

  • Raising capital can be the scariest part of owning a business, but it doesn’t need to be . Also it’s not always necessary, as there are alternative ways to quickly get to revenue through a variety of creative means.
  • Be very firm with your goals and flexible with how you get there.
  • When you have an idea, first find out if there is a market for it.
  • If you have a unique product, system or process, it’s worth patenting. Get a good patent attorney to guide you through the patent process. Ideally keep it “patent pending” for as long as possible to protect the information.
  • An idea is nothing without execution. The way you execute an idea may well be unique.
  • No one else can duplicate your business and its many elements — products, services, processes, people, culture, connections.
  • Athletes make very good entrepreneurs because they understand long term goal setting, they understand sacrificing to reach their goal and they are good at bouncing back from adversity and setbacks.
  • Being an entrepreneur is like surfing — most of your time is spent paddling, waiting for just the right wave. Then you are up for 10 seconds and it’s over, and you go do it all again.
  • Differentiate between what you are doing and who you are. Each thing that you are doing can be a separate chapter of your life and you can always write the next chapter.
  • Be really clear about what motivates you — write down the best things about your dream situation and then explore all the options that can give you that motivation.
  • Covid showed the world that many entrepreneurs can work remotely, location independently and get the work done.
  • If you are really motivated to do something, you’ll figure it out.

The Buzz — Our Innovation Round

  1. #1 thing to be more innovative — Question things that have become the status quo. E.g. Who said that? When was it said? Does it still hold true today? Does it fit for me?
  2. Best thing for new ideas — Have insatiable curiosity. Try something new even though you might be bad at it.
  3. Favourite tool for innovation — Listen to podcasts. Let my brain wander. Listen to music.
  4. Keep project/client on track — Write things down in the morning — four things you want to accomplish that day. Have an accountability buddy.
  5. Differentiate — Be true to who you are, don’t worry about other people’s opinions or the competition. Decide what you want from your product and build that.

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Cool Things About Kasten

  • She was a professional windsurfer, travelling to many countries to compete.
  • She spends half her year in Portland, Oregon, USA and the other half in Baja California, Mexico

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Dr Jürgen Strauss

Founder of Innovabiz: TRANSFORMATION MARKETING — Building visibility, professional authority and connection with your dream clients