Founder Vs Creator - Who am I?
Understanding yourself and making a conscious choice
As we start 2023, may this year bring to you closer to your Ikigai. May the year bring you small joys and smiles, and abundance to everyone you love.
First some fun stuff - My photograph of the week. Something that captures a unique aspect, emotion or fun fact.
Before we start in the new year, let’s star with some context setting.
I like to keep my writing simple. The intent is to get you to read quickly, absorb faster, and enjoy the process. Possibly sow some seeds for reflection.
I don’t get my writing written by anyone. I keep it honest, unfiltered and straight from the heart. I write from my own interactions, readings, and just plain learnings from life.
Psychology with business is an interesting element to explore in all aspects of what we do as founders. This Substack is not about business model templates – you can read that in other blogs or study it at a university.
I am learning every day, just like you. I might change my stand or opinion if I learnt something better (should we not all have that luxury?)
I intend to do a 52-series this year – one article on entrepreneurship every week with real-life examples, with an element of Psychology. It fascinates me how understanding human behaviour can solve any problem - be it business models, or product design or customer experience. I will also write anything that is important for me to share – life, love, or startups. No names basis.
Let’s dig deeper: Who am I? Founder or Creator? What is my business quotient?
As we start the New Year, I am sure we have made New Year's resolutions – to become financially independent, stay fit, meditate, be more present, grow to your next level of competence, and so on. If entrepreneurship is on your mind, it may be a good time to evaluate and understand more. While entrepreneurship is so celebrated, do you really want to be a founder?
First some checks: If you are an individual building a business as a lifestyle choice, this does not apply to you. The creator economy today has opened up options for individuals to choose a lifestyle that can give them more ownership of time and economic freedom. If you are just curious, read on.
Who is the creator?
You can be a yoga teacher, a content creator, a photographer, an Instagram influencer, a boutique travel operator, an artist, a painter, a comedian, and the list goes on. You own your time and you work for yourself. You own a skill that is unique or differentiated, and something the world is willing to pay for. You probably have a small team of less than 5. Great space to be in. It is a personal choice.
In India and the world over, economies and national GDP are fuelled by small businesses that employ up to 10 people – the Micro and Small of the SME. However, we have to appreciate that for people and businesses to consume what you create, we need larger institutions to create more employment and wealth. Think of all the institutions build over the last 50 years that started as young companies. And that’s where founders in the context of today fit in. Building the institutions of tomorrow.
Today, we will focus on founders, building the institutions of tomorrow. Someone who is working on building shareholder value. What does it take to be one?
I’ll start with the cliched statement: Starting up is hard and continuing to build is harder. Let me double-click on “hard” and tell you more.
1. Persistence
Are you willing to commit the next decade to build what you started with? The key and absolutely core value is just consistency. Showing up every day. Every day will not be glamorous, exciting, and sizzling on social media. There will be times when no one appreciates the journey and no one stands up to acknowledge it. Will you still persevere? Are you brutally relentless?
2. Team first/ People Leader
Can you build teams, lead, and motivate them? Can you take ownership of the people you hire, and treat every hire like a sales deal won? Can you be patient in grooming / aligning and growing your team to deliver your vision?
3. Big vision thinker
Are you unapologetic about your vision in the face of naysayers? Can you think big, every time, every day, and be unfazed in front of the individuals/family and friends who think you are a dreamer?
4. Doer
You should be willing to get down to the trenches and get your hands dirty if required. Be it product definition, understanding your customer, sales, or support. Do you have the ability to switch between macro and micro?
5. Comfortable with Delayed gratification
This is the other side of the coin of persistence. As we just show up every day, we see the picture getting clear. A lot of dots connect only in hindsight, not in the present moment. Are you one who wants instant gratification or are you willing to wait for your big picture to become real?
In short, you need to be a thinker, enabler, and doer. Play any role with ease, and consistently.
It can look simplistic but the devil lies in the detail of how you execute. As an investor, we summarise all this as “Team”. It is your ability to lead by example, hire the best, think big, and take ownership.
Context is king
Having said this, how we create a company and a large part of our life outcomes is defined by our CONTEXT. Where you are born, to whom you are born, the era you were born, the college you had access to, your inner circle of influence - all play a role in how you think of entrepreneurship. That’s why it is often quoted that you are the sum of the 5 people you surround yourself with.
Can we change context? Absolutely. By exposing ourselves to new circles of learning. I am doing a small experiment around this and will share details of the study as we execute on this. Basically taking a group of graduates from a remote village and teaching them entrepreneurship in a real life setting. I call it “trek and learn”.
Quoting from the book Psychology of money: (By Morgan Housel) articulated in a way that it could apply to our decisions on how we view entrepreneurship:
Every
financialdecision a person makes, makes sense to them in that moment and checks the boxes they need to check. They tell themselves a story about what they’re doing and why they’re doing it, and that story has been shaped by their own unique experiences.
Does this guarantee us wealth creation? Honestly - NO. The cliched term of “do what you love and money will follow” may not be necessarily true. Making money is a different game. It involves a lot more that could be outside your control -
summarised as “Luck or Risk” by Morgan Housel. ( Chapter 2 from Psychology of Money]
However what is true is that you will become more self-aware, learn more, be patient to failures and have the best time doing what you love.
There are no right and wrong answers, as well as no fixed answers. You have to find if this works for you. Be the creator or the entrepreneur- You can always switch from one world to another when you are ready. The world needs all kinds to flourish - people who own their time and people who employ to help people own their time.
Quote of the week
As we start a new year in 2023, a common thread that has emerged in most of the new year wishes over messaging and social media apps - “Gratitude for being part of my life in 2022!”
It is evident that “Gratitude” has played a large role as people struggled through uncertain times in 2022 and now step into the new year. I am grateful to have the opportunity to be part of your journey though my writing.
Sharing my favourite quote here:
The universe provides abundantly when you are in a state of gratefulness - Wayne Dyer
The guy M