Finding your true north in a startup world

Entrepreneurship is addictive like a drug and contiguous like a virus. You soon find yourself wanting to be part of the cult that is shaping 'the future'. To gain access, you don't have to start a startup or even be an investor. You can start by becoming an ecosystem builder. You're the chain that binds different actors together and cements them to forms an ecosystem. For the first five years, I was an ecosystem builder, preaching of a startup utopia. Until I came across Reid Hoffman's definition of an entrepreneur;   

An entrepreneur is someone who will jump off a cliff and assemble an airplane on the way down.

End of the beginning

This definition bothered me. It bothered me because it neatly highlights the risk & insanity that surrounds entrepreneurship. I realised that, while I encouraged others to jump off the cliff, I was safely seated in the shade. And if you represent the government, an NGO or a large corporate, you also have three added advantages; (a) everyone wanted to collaborate, (b) everyone is kind and finally (c) nobody dared to screw you over. 

The definition opened my eyes to the daily struggles founders go through. They needed a lot of support and, didn't necessarily have money to pay for it. So I spent my free time going beyond an 'ecosystem builder'. My natural curiosity gave me a front-row seat to the action. I soon realised that most of the lessons in building a startup lie outside excel sheets and canvases. What I experienced immensely shaped my purpose, vision and values. 

Defining Purpose 

As an ecosystem builder, your responsibility is to facilitate discussion & connections between different parties. Your reward, by and large, is the social capital you generate. You have the luxury of spending other peoples money; money that is most likely already written-off. The objectives are short-term in nature, and you focus more on outputs rather than outcomes. The business model relies on donations and volunteers; making it hard to sustain or scale.    

But for an ecosystem to grow and evolve, it requires countless cogs. And funding is a big cog within the ecosystem machine. Money needs to flow, and that money should bring about returns to stakeholders. Startups should get acquired, go public or become large corporates. The exits create more funders, inspire more founders, and the circle continues. This process is complicated, chaotic and technical. Not to mention that you also need to some luck, even if you don't believe in your stars. 

Secondly, not all entrepreneurs are 'cut from the same cloth'. Some become entrepreneurs out of necessity, some by luck and others by design. Some have better access to resources and opportunities. Regardless, it's about the people you decide to back. So you must be able to assess their values, backgrounds, strengths and weaknesses. These revelations led me to my purpose;  

To truly forge a successful union between founders and funders, you need skills that can fill gaps and connect the dots for each other. You should be able to map the journey and see both potential and flaws. The potential and flaws surrounding the people, market & technology. These skills are part intuition, mathematics and economics. Intuition is through years of exposure to entrepreneurs and investors from different walks of life. You need to become part of the equation and share the risks to gain these insights.  

Defining Values

'Fake it till you make it' is a common trait among entrepreneurs. This trait highlights one of the most important skills an entrepreneur should possess and develop; acting. Because when the whole world is falling apart, you need to be able to stay positive and tell people 'things are great' or some version of that. You need to convince yourself, shareholders, team, partners, customers, parents, spouse, and the list goes on. 

But acting without values would sooner rather than later will destroy you. We have seen this with people like Elizabeth Holmes & Adam Neumann. One thing that I have observed is that; people are obsessed with being an entrepreneur rather than solving a problem. At the foundation of every successful entrepreneur is their insane desire to solve the problem. We call it passion, but in reality, it's an obsession. 

An obsession can be healthy as long as they are grounded and guided by proper values. Over the years, I've had the honour and privilege to work with remarkable individuals. I was lucky to have great mentors that corrected my mistakes and guided me in my journey. Naturally, I've also come across many wolves in startup clothing. To guide me and ensure my purpose does not get derail, I choose to follow the below eight values; 

1. Resilience 
2. Integrity
3. Commitment
4. Honesty
5. Hunger
6. Ownership
7. Courage
8. Sacrifice

Key Lessons

Above the ground, you need to be resilient every single day. You'll find peace when you're below the ground. Secondly, you are either on the bus or off the bus. No one deserves your 99.9%. Thirdly, in getting shit done, you'll make a shit load of mistakes. Own them and learn from them. Finally, you need 'courage' to do anything, especially bold things. But you need it most to walk away or stand up against unfairness.

I thought I'd use this time to ponder, try and connect the dots of my journey. After all, it's been more than a decade since I boarded the entrepreneurial bandwagon. We all lose our way at some point in time. When you're lost, you could look up or down. Ideally, you should look within. Somehow you already know the path you should take. What stops us from looking inside is the fame and glory we secretly desire. Don't let it define your true north or place them above your purpose. 

On your last day on earth, the person you became will meet the person you could have become.