Entrepreneurs are pioneers, not navigators

I co-authored a book called The Lifescience Innovation Roadmap. I now realize that the title is misleading. You see, the entrepreneurial journey is more like finding your way from one place to the envisioned next without clear roads, exits or navigational aids. Instead, it is mostly about exploring, experimenting and pioneering in uncharted waters without clear landmarks, signs or directions. You need to be able to decipher a treasure map, not a roadmap

However, creating a customer persona and archetype and mapping their journey is an important first step in understanding their jobs, pains and gains. Here's how to be a customer cartographer.

Entrepreneurship is the pursuit of opportunity under conditions of uncertainty with the goal or creating stakeholder/user defined value through the deployment of innovation using a VAST business model.

But, uncertainty is not the only part of our VUCA world.

There are many reasons why doctors have the potential to make great entrepreneurs. One reason is their ability to deal with uncertainty. In medicine, there are no guarantees, only probabilities, judgement and intuition. Like business people, doctors make decisions with incomplete information. Sometimes they have to do things based on their gut. In fact, they do so more than they would like to admit. Only about 25-35% of medical decisions are based on scientific evidence."

However, that skill does not make physician entrepreneurs immune from the pervasive and common side effects of uncertainty in the medical practice and business environment:

1. Change fatigue

2. Burnout and depression

3. Fight or flight reaction

4. Pulling back on investments and capital improvements, like IT systems or advanced technologies

5. Greater risk aversion

6. Fear

7. Irrational, perturbed decision making

8. Focusing even more on the now instead of the new

9. Downsizing and layoffs

10. Overwork,stressing people with more work and trying to do more with less

The point was recently made by Todd and Kim Saxton in their new book, "The Titanic Effect: Successfully Navigating the Uncertainties that Sink Most Startups They note that "A road map is comforting because it has a starting point A, destination B and a detailed plan for getting from one to the other. However, it's not an accurate representation of the strartup journey. In reality, founders almost never have such information regarding highways and byways of their path. Instead, the path itself is unceratin . The founders resolve the uncertainty through interative interaction with customers, advisors and others. The strategy constantly evolves as internal resources, competition, the environment and market dynamics change.

David McCullough's new book, The Pioneers, tells the tale of the brave pioneers who settled the Ohio valley and new Northwest after the signing of the Treaty of Paris that ended the American Revolution. They had no roadmaps, only acres and acres of trees to clear, Indian populations, weather, disease and social issues, to make a new nation that eventually reached the Pacific Ocean. Likewise the challenges were the same for those on the Santa Fe trail, the Oregon trail, those who built the Erie Canal or Lewis and Clark figuring out how to get from Pittsburgh to the Pacific for the first time.

Personality tests, like the Myers-Briggs, don't help with team performance.

Each of us is a composite of the four work styles, though most people’s behavior and thinking are closely aligned with one or two. All the styles bring useful perspectives and distinctive approaches to generating ideas, making decisions, and solving problems. Generally speaking:

Pioneers value possibilities, and they spark energy and imagination on their teams. They believe risks are worth taking and that it’s fine to go with your gut. Their focus is big-picture. They’re drawn to bold new ideas and creative approaches.

Guardians value stability, and they bring order and rigor. They’re pragmatic, and they hesitate to embrace risk. Data and facts are baseline requirements for them, and details matter. Guardians think it makes sense to learn from the past.

Drivers value challenge and generate momentum. Getting results and winning count most. Drivers tend to view issues as black-and-white and tackle problems head on, armed with logic and data.

Integrators value connection and draw teams together. Relationships and responsibility to the group are paramount. Integrators tend to believe that most things are relative. They’re diplomatic and focused on gaining consensus.

 One of the biggest questions that would-be innovators should ask: Should I lead or follow? Does the “early bird catch the worm” or can you “identify the pioneers — they have arrows in their back”? Is the advantage to the “first mover” or should you be a “fast follower”?

Innovation takes courage precisely because the waters are unchartered and it takes creativity and ingenuity to overcome the barriers. Be sure you start your voyage with the right equipment and mindset to survive it.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs on Twitter@ArlenMD and Co-editor of Digital Health Entrepreneurship