Wednesday, November 13, 2013

The Case for Being Pig Headed

One of my dad's favorite analogies comes from breakfast.  In the classic plate of bacon and eggs the chicken is involved, but the pig is committed.

When applied to entrepreneurship I think about the interplay between investors and entrepreneurs.  Investors have money at stake - usually in the single digit percentages of their net equity.  Entrepreneurs on the other hand are betting it all - all of their time, all of their energy, and often all of their money.

So, I've always been surprised that entrepreneurs evaluate the viability of their company by the input they receive from investors.  The chickens, often with comparatively little at stake, evaluate opportunities and give advice from the perspective of the involved...not the committed.

Entrepreneurs should instead focus on themselves - the committed. Are you all in?  Does every piece of evidence point to this venture being worth the next 1-2 years of your life?  Are customers willing to bet the farm on you?

Be brave.  Be pig-headed.  And stop listening to those chickens.

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