Last year I read an article in National Geographic that changed the way I do almost everything. The article was entitled How to Survive (Almost) Anything, and it contained 14 traits common to people who had survived catastrophes. I’ve been thinking about these lessons lately—especially how they are applicable to an entrepreneur fighting to get his/her idea off the ground. The following are my interpretations of those 14 traits/skills as they relate to the entrepreneur:
1. Take the Next Logical Step
No matter how ambiguous your task looks, find the best next step and execute. It’s easy to get bogged down when you’re engaged in activities like brainstorming. But rather than getting hung up on the details and obscurity of your task, evaluate the options that you see, commit to the best option, and get to work. In most cases, even if you choose the wrong option you’ll still get to the right one faster than if you hadn’t started.
2. You’re in Control
Whether you have control or not, believing that you do will make all the difference. Your ability to learn from failures, the way you handle ambiguity, your relationship with your coworkers and partners—all of these are affected positively when you feel like you are in control of your destiny.
3. Don’t Succumb to Denial
When you’re heavily invested in an idea or product, it’s easy to fool yourself when the market is telling you otherwise. Don’t! Constantly stay aware of what the market, your partners, and your friends are saying—you’ll pivot more often and with less wasted resources.
4. Remember Your Goal
The details are important, but they can be distracting. Don’t lose sight of the big picture and the overriding idea that spells success for your venture.
5. Be Positive
Most entrepreneurs are inherently positive (or else they wouldn’t be entrepreneurs). Still, conscious effort to stay positive can get you back in the saddle quicker after a letdown, like when you were been blown off by that VC for the umpteenth time.
6. See the System as a Whole
One wrong move on a manufacturing line can ruin a whole batch of finished products. Likewise, seemingly insignificant actions on your part can have tremendous (or devastating) results. Look for the system as a whole and try to see where you and your company fit in. Acting on the small things can lead to big success in the future.
7. Don’t Plateau
Serious mountain climbers know that the summit is only the halfway-mark back to safety. Celebrate your small victories, but be quick in moving on to the next task—patting yourself on the back only kills time that could be spent on your next big idea.
8. Keep Learning
The most successful people are the ones who keep learning. Picking up a new skill (such as learning the basics of graphic design or reading up on lean manufacturing) will keep you well-rounded and help you communicate more effectively with your partners and employees.
9. Ignore Sunk Costs
When an idea is yours and you’ve poured time and resources into developing that idea, it’s difficult to see things objectively. Consciously ignoring sunk costs (even on a micro level) will keep you from making irrational decisions—and get you on the track to profitability and success.
10. Go with Your Gut
This isn’t to say that you shouldn’t listen to the market or look at problems quantitatively. Rather, make the very best choice given the data you have, and then step back and ask, “Does this make sense?” If your instinct says ‘no,’ go back and try again.
11. Remember Your Backup Plan
There’s nothing wrong with an exit plan. Having one, however, is not the same as being ready to implement one. Put specific criteria around your Plan A performance that send you to Plan B (e.g. 100,000 users by December 20×0). That way, when you’re tempted to ignore sunk costs and pursue a dead end, you’ll have a reason to get out and switch to Plan B.
12. Be an Altruist
Helping others is an investment in your relationships. Don’t be afraid to lend a hand to others who could benefit from your experience and knowledge—more often than not you’ll gain loyal friends who can return the favor sometime in the future. Besides, your success won’t mean much if you can’t give that gift to others.
13. Take it Easy
There’s no reason to get worked up over things that are truly out of your control. When things don’t go as planned, regroup and focus your energies elsewhere—you’ll waste less time and resources, and reach success faster.
14. Let Go of Your Fear
Rock climbers never really get good until they learn to live with the fact that they could fall at any time. Likewise, you’ll never get anywhere if you can’t learn to live with the risks of entrepreneurship. Let go of the fear of failure and you’ll be able to pursue the success of your venture without hesitation.
Check out NG’s list of survival traits and Cameron Brain’s post on the Anatomy of an Entrepreneur.
