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Balance what?
The species, known as the first generation entrepreneur, is acknowledged more for the courage of conviction than for the balance.
You, the entrepreneur - young, enthusiastic, carefree, not given to discipline, focused on outcomes rather than matrices - almost invariably begin with passion, and passion alone. Then the revelation dawns! Your enterprise needs stability within the orbit it just entered, before it is ready to jump into the next. So, you learn the tricks of trade – call it the balance – on the way.
The Team Balance: Juggling with multiple roles, you realize the need to hire your weaknesses. Yet, in the first flush of success, you feel you can change everybody and everything that comes – including the team’s DNA. Prudence teaches you soon to choose only the best fit, the best overall package. A method to madness starts coming in. You don the cap of the executive to bring this method, even as you expect your team to turn entrepreneurial, keeping the DNA of innovation alive and kicking.
The Matrices: Fixing deviations and problems at the top is fast individually, but slow organisationally. Why discuss the same stuff and tackle the same issues every time? Put the matrices in place to bring the balance, and get more time to strategise.
The Finances: Many items to balance here - the mad chase of revenues v/s unit economics, cash flows and accounting profits to name a few. You start your salaried life even if the salary is less than the team members’ and the industry standards. You balance the long term vision of the build-strategy with the pragmatism of the harvest strategy, for after all, now a great many careers and their family budgets depend on your decisions.
The Outside World: Networking, forums, speeches, associations becoming an overkill? All these make sense if your own house is in complete order. Balance it out.
Self: Business is a marathon, not a sprint. Keep the energy, the passion and the fun going. Get into your running shoes, literally and figuratively, and run the marathon – of business and life - milestone after milestone. No better way to live life than of an entrepreneur.
I was never a balanced type, may never be. I am a hesitant conformist, if at all. I will be content with passing marks in most areas. But I want nothing less than distinction in my most favorite ones. For me that comes first, always!
So, balance? Let’s see.
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