covey

Small Thinking; why Austin entrepreneurs need to think bigger!

I teach a class at UT Austin called “lean startup”, I also help run the UT Texas Venture Labs and I volunteer at Capital Factory.  I mentor or advise dozens of startups.  I also run my own startup and have started 3.   All this is to say, I am plugged in to startups in Austin.  As with all my blog posts, this is not anything official from UT or anywhere else, just my own opinions.

I see probably 50 (or more) startup pitches per year.  One thing I have noticed recently, since Venture Capital has mostly dried up in Austin and worldwide, people have stopped thinking big.  I see so many deals where “the startup” is really “a product or service”.  For example, your app idea, your IoT idea, your new restaurant concept, and so on.  If it could be done on Kickstarter or bootstrapped in a year or two, it’s probably not big thinking.

This article is a call to get entrepreneurs to THINK BIGGER!  It is also hopefully a few tips for entrepreneurs to do just that.

First, let me explain what I consider ‘small thinking’.  Small thinking is when an entrepreneur is so focused on ‘the first product’ or ‘getting to revenue’ that they fail to communicate (or possibly fail to think) what the big picture is.  If you are not thinking past ‘your first move’, you are playing Startup Chess with a massive handicap.  If you don’t have ‘a second move’, you are failing to plan.  In both cases, you are not THINKING BIG!

Now, let me explain what I consider ‘big thinking’.  Big thinking isn’t doing, it’s thinking, and maybe talking.  Doing is what you are doing first and now (probably being Lean and Agile and building an MVP and focusing on Getting Customers and Feedback)… all very smart and important stuff.  However, while you are off ‘Doing’ that important stuff, you should be ‘thinking’ and probably ‘communicating’ your big vision a bunch more than you are.

Big thinking is having a big vision for wanting to ‘change’ something.  ‘Change’ is the operative word, and it implies a disruption in the status quo.  Big thinking is having ‘the end in mind’ before you begin.  This is more than a personal financial goal (which is also important).  This is understanding where your company might play in the big picture of the world.  This requires understanding ‘the world’ e.g. your market today, and where your market will be after you have risen to power and achieved your ‘big vision’.

Here’s the problem.  Many companies in Austin simply do not have this ‘big vision’ in mind for their company.  I ask you, how is your company going to change the world?  How are you going to “shake up” your industry.   If you do not have an answer, then you are not Big Thinking.

I urge you now, go out, and think bigger!  If you do it, WHILE staying focused on “DOING LEAN” there are so many awesome benefits.  Here are some personal examples I will share.

At my first company, Bigfoot Networks, our “big vision” was to End All Lag!  In fact, we even had a website, t-shirts and events, all around “Ending Lag Now!”.  We had a clear big picture mission, near 0-latency & 0-lag online gaming.  We were going to change the world… and as a result:

  1. The press cared about our story… even though many didn’t believe we could do it, it was still a story (rather than a non-story).
  2. Employees LIKED working for Bigfoot Networks… we all understood our mission and it gave us energy to tackle the day-to-day “Doing” because we knew where we were ‘Going’.  
  3. As a result, my attrition rate was lowest at Bigfoot Networks than any other company.  And my recruiting was the easiest.
  4. I was able to raise ‘big’ VC money, not because of our results (which were average), but because of our vision (and technology to back it up).
At Karmaback, my second company, our vision was also clear… we wanted to ‘Prove Social Marketing Works”, and create analytics behind social network marketing.  What is interesting here is that we did so many ‘day to day’ “Doing” that did not line up with this goal (to pay the rent) that we ultimately lost sight of this vision… when that happened, we had to sell the company.  It just wasn’t honest to say “this contracting job” had anything to do with our vision.  Had we stayed truer to our vision, Karmaback probably would have been even bigger and sold for much more.
So, I hope you can see where I am headed.  Have a big vision, execute on a plan towards doing it, and change the world!   If your company does NOT have a ‘change the world plan’… maybe it needs to get one.  Personally, I am on a mission to make sure all my endeavors have one.  At U.T. Austin, “what starts here changes the world”… and I’d like to see all of Austin take the charge and “THINK BIGGER”!
Harlan T. Beverly, PhD + Daughter, think BIGGER in Denali National Park

5 Things You Should Say Every Day at Work

Want to love your job more?  Want to work in a very positive work environment?  Want a raise, more responsibility, or a promotion?  Then these are the 5 things you should be saying every day at work.  Five simple phrases that can lead you to a more rewarding and rewarded career.

1. “I’ll take Ownership of this, and see that it gets done.”

Everyone is busy.  Managers and Co-workers both love it when someone else takes responsibility.  Making it explicit with this phrase will win you friends, especially when you build a reputation for actually delivering what you own.  Fail to deliver though, and people will stop letting you own, a very bad thing.

2. “Is there anything I can do to help?”

Similar to taking ownership, people appreciate help when they are swamped.  In this case though, your not saying you’ll take charge, just that you’ll help in a task or two.

3. “I’m sorry, I messed up and here’s how I plan to fix it.”

Nobody likes to mess up, but it happens.  And when sh*t happens, it’s always best to own up to it, with an action plan to fix it.  Even if fix it means minimizing the damage, a plan is always better than not having one.

4. “Do I understand correctly that you are saying …?”

Fill in the blank with exactly what you think they said.  If you can demonstrate that you have completely heard them, even without agreeing, it goes a long way towards letting the other person open up about your feedback.  Dr. Stephen Covey said “Seek first to understand, then to be understood.”.  This simple phrase can change your life.  Suddenly, people will prefer to speak to you because “you listen”.   Even if you don’t agree, you at least listen!

5. “Great job!”

We all have a little puppy deep inside our hearts.  We don’t want to be yelled at when we poo on the floor… we know we did wrong.   But we DO love praise when we do something right!  Say it often, but of course, only say it when you mean it.   Don’t praise poor work, no comments are needed.

photo via cc

My Inspiration & Hero: Stephen R Covey

Stephen R Covey is my hero.  He has been a deep inspiration in my life since 2000, when I took his 7 Habits of Highly Effective training classes at Intel (required for management training).  It should be required for all humans.  His seminal books: The 7 Habits and The 8th Habit are life-changing, non-threatening, filled with stories we can all relate to and deeply profound.. not to mention extremely useful for all people (weather you are a stay-at-home mom, a retired nurse, an Engineer or a CEO, or anything else).  If you have not read his book; please do so ASAP.  I have 2 copies I will lend to anyone who wants to read it.  I also have it on cassette tape and audible.  I can lend the cassette tape as well.

That said, I am extremely sad that he passed away today.  I know his legacy is a great one. I hope his books and lectures do not fade into obscurity: they have founded a generation of leaders (multiple generations even).  See you in heaven hero!

Here are a few things you’ve inspired in me:

  1. Character.  You defined it.  You literally defined character and principles in the “lighthouse” analogy.
  2. Communication. You refined it. You put words to the best skills for communicating: Seek First to understand, then to be understood.
  3. The phases of life: You lived it.  You showed me how a person moves from dependence to independence and then to inter-dependence (the final step I’m still trying to make).
  4. The truth of Win-Win.  You proved it is possible.  That Win-Win is an option.. the best option, every time.
  5. How to lead by giving power.  You personified it.  I use the technique in business and with my kids.  *I am their worker, they are the manager of a clean living room.*
  6. How to sharpen the saw.  You did it.  Your very passing: dying as a result of a bike accident (at 79) inspires me to keep sharpening the saw.
  7. SO MUCH MORE… I could go on.  All of your habits and stories taught me something.  Perhaps the most poignant was this: TO TEACH is the GREATEST SERVICE and the best way to LEARN.  I hope to make you proud.