As regular readers know, this blog exists to provide practical information to managers of print publications and Website content. If you happen to be the person who started your organization, or if you’re thinking about starting one, you might be interested in a group I joined this week.
It’s an entrepreneurial support group, launched by one of my fellow alumni with support from our alma mater. As you would expect from a dozen entrepreneurial MBAs, we told a lot of war stories, mostly with the same theme: overcoming adversity. Try, fail, try again, succeed at last.
I spent weeks putting together a government contracting database. I bought an HP printer at Costco and put out a flyer offering my database for $500. Nobody responded. I was about to return the printer to Costco, but I decided I’d give it one more try. This time, two people bit. Word got around, one thing led to another, and I ended up building a $5 million a year company that creates databases to support government contracting.
I put every penny into a start-up business selling designer accessories online. It was fall, and the inventory wasn’t moving. I thought I was going to lose everything, and then I got a call from Amazon saying they were putting me on their site. During the holiday season I sold out, completely, and now I’m trying to figure out how to finance the stock for next year.
Would it be any different if you got a dozen accountants, lawyers, doctors, or any other group of professionals together? I think so. They generally talk about the field, the practice, people they know. Entrepreneurs talk about the joy of the chase.
We love our support group. When you’re trying to do something pretty much on your own, it helps enormously to talk with others who face the same challenges. That’s especially true when you’re doing something most people find peculiar, like risking your own money on a business venture.
Our individual objectives vary, but what everyone wants to get from the group is a fresh perspective on his or her challenge du jour. People who start businesses are somewhat prone to myopia. We hope that talking with others who share our objectives and our frustrations can help us see the world more realistically.
Starting a business? Please comment and tell everyone how you’re doing.
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As a fellow serial entrepreneur (with an MBA no less), I have realized that “success” and “failure” are relative terms. One venture I was involved in ended badly, but we had some real successes too, like raising millions from venture capitalists. And I met my wife working for that company… Even Steve Jobs has bad days/months/years.
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[...] joined an entrepreneurs’ support group a few weeks ago. Our latest topic of dinner conversation: How to close the gap between what we know and what we [...]