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Archive for the ‘Inspiration’ Category

Definition of Insanity

Saturday, April 4th, 2009

Do you ever feel like you’re going insane? Do you do the same things over and over again expecting a different result? Is your business becoming more and more like Groundhog’s day? That’s the real definition of insanity. How do you avoid going insane? Here are some of my free-wheeling thoughts.

1. Understand your motivation. What is driving you to do what you do each and every day? Are you someone who always seeks comfort and predictability? Do you value work/life balance? If you don’t know why you are going to work each day, you’ll be doing the same things over and over again with the same results. By understanding your motivation, you’ll have a clear idea of what you need to change in order to generate real results. For example, I’m motivated by competition and playing the game right, I enjoy winning which drives me to constantly evaluate strategy and execution. At times though, I’ll get in a rut and realize that I’m not driven by winning, rather I’m driven by “playing not to lose” - which in my mind is the dumbest way to play. For me, understanding which way I’m playing helps me stay focused on results.

2. Challenge yourself everyday with something uncomfortable. Now, not for the sake of doing so, but because you are doing something valuable for your company. For example, if you don’t write well, write a blog post for your company today. If you don’t know how to cold call, do it - call three potential clients today. If you don’t enjoy networking, invite a potential mentor to lunch today. The more you are challenged with new things each day, the more you’ll be able to see opportunities that will open doors for you.

3. Take responsibility. Honestly, I’m sick and tired of hearing entrepreneurs complain about the economy instead of taking responsibility for the decisions they are making. Everyone is in the same boat, the great entrepreneurs are the ones that are able to adapt, make decisions given incomplete information, and take responsibility for their own decisions. Blaming the economy is an easy way to continue doing the same things and avoiding the tough decisions that need to be made in this environment. Another thing that drives me absolutely nuts are companies that survive by leeching off of others, in other words, building a business around suing other businesses and people instead of building real businesses or competing. Build value, take responsibility, and stop the nonsense of detracting value.

The past Bush administration post 9/11 asked all Americans to step it up and spend to keep our economy growing. The biggest insanity in the US is that we think spending and debt will bring about a sustainable economy. Time and time again, it’s been proven that spending and debt both personally and as a country is unsustainable. We tend to spend on assets that decline in value, automobiles, Ipods, Iphones, TV’s, overpriced homes, etc. What we need is to have a healthy mix of saving and investing in assets that provide a return. It means that we must do things differently, we must live below our means (both personally and collectively), we must invest wisely, and we must save more. It’ll mean more short-term pain, but in the long-term it’s sustainable and bubbles of the past may be minimized in the future.

This post was written by Andy Liu, a serial entrepreneur and angel investor. Andy currently runs BuddyTV, sits on several boards, and blogs at InspiredStartup about staring and growing successful businesses.

Posted in Economy, Inspiration, Startup survival | No Comments »

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