Sunday, February 21, 2016

Business Start Up: Valid But Not Reliable

When I offered as an example of valid, but not reliable, business success stories, in this instance Patron Tequila, a student offered Sammy Hagar Tequila contra my point that although hair-care tycoon Paul Mitchell conceived and built Patron Tequila based in Vegas in the early 90s, while valid, it is not reliable in the sense that anyone else could use his success as a template for one's own success.  But Sammy Hagar has done fantastically well building a tequila brand from scratch.

Yes, another instance of valid, but not reliable, in the sense of it worked for Hagar, but no one else can follow that trajectory.  You need the gift of ADD, a music career, one helluva delegator, and right place at right time.

The Harvard Business School (and copied by countless business schools) uses the case study method, where they study such success stories as templates for how you too can be "successful."

As I state, it takes passion (suffering) to spot in what entrepreneurial area you ought to work, and then finding joy in doing the work that confirms your mission.  Mitchell and Hagar have found both, serially, valid "success" stories, but no reliable because no other hair-care specialist or rock star has their  joy in solving what causes them to suffer.

What is reliable, after the passion/joy process, is to follow the reliable act of switching to science and establishing a reliable customer base for your solution to the problem you experience, to tweak it to the satisfaction of enough market to constitute your definition of success.

That is the work of business start-up.  You do not need finance, a logo, legal structure, advertising, you need only customers, which are not only the most important thing, they are the only thing that matters.  Everything else is trivial.  And although customers is the most important thing, getting your product or service right is the hardest thing, the only thing you get paid for, so the only thing at which you should spend your time.

Too late to join my seminars winter, but I have spring sessions coming up.  email me at the address upper right if you want info on these.

Feel free to forward this by email to three of your friends.