When the Going Gets Tough, the Tough Get Going

In this edition of "Not from Silicon Valley" I went down a thought rabbit hole that we need all entrepreneurs to consider what they want to be remembered for. A legacy only happens if you move the needle. Big problems require even bigger solutions. No disrespect to founders that want to take a more cautious approach. They have to accept that they may not even make it into the footnotes of history. It's time for Big Hairy Audacious Goals (or BEHAGs) to make their way back to front-and-center when it comes to the "why us and why now" questions.

In times of economic and political uncertainty, entrepreneurs must re-double their efforts and play a bigger game. This means taking risks, innovating, and adapting to change. Entrepreneurs who can do this will be well-positioned to succeed in the long term.

General Electric (1892): Founded during the Panic of 1893, a severe depression in the US.? Despite the economic turmoil, GE capitalized on the growing need for electricity, eventually becoming a titan in various industries from appliances to aviation.

IBM (1911):? Formed just before the Panic of 1910-1911, IBM (originally the Computing-Tabulating-Recording Company) navigated financial instability and went on to dominate the computing industry for much of the 20th century.

Hewlett-Packard (1939):? Launched in the midst of the Great Depression and on the cusp of World War II. HP's innovative approach to technology allowed them to weather the storm and become a leader in computing and printing.

Microsoft (1975):? Born during the recession following the 1973 oil crisis.? Despite a challenging economic climate, Microsoft's software revolutionized personal computing.

Electronic Arts (1982):? Founded during the early 1980s recession, one of the worst economic downturns in US history. EA went on to become a giant in the video game industry.

These examples show that economic and political turmoil, while challenging, can also create opportunities for entrepreneurs who are willing to innovate, adapt, and persevere. The key takeaway is that difficult times often force businesses to be more resourceful, efficient, and focused on solving real problems, which can ultimately lead to greater success in the long run.

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