If We Can Do It, So Can You

Seven years ago today my creative partner and I walked out of our jobs at a well-respected advertising agency to open a studio of our own. We announced our new venture with the ad above.
    We had no money saved up. No safety nets. No clients lined up.
    We also had very little fear.
    Perhaps we were a bit naive. I prefer to think we were confident in our talents and experience. One thing for sure, we have never regretted the decision. Which brings me to the true message of this post.
    Quit your job.
    That advice isn't for all of you, of course. But it's good advice for someone. My guess is you know exactly who you are, too. You want to start your own business. It's a fire in your gut. It keeps you awake at night. But you're afraid. Afraid of failure. Afraid of giving up a good job for the unknown.
    Fear is holding you back.
    To celebrate my studio's seventh anniversary, I'm offering up seven lessons we have learned along the way. All of them relate to fear in some form or another. Hopefully, it may inspire someone—perhaps you—to adopt a no-fear attitude in the pursuit of a dream.

Realize that the status quo is not safe.

This is the big one, really. Job duties change. Bosses get fired. Accounts are lost. Budgets are cut. Your current job is not nearly as safe as you may think. Starting your own company may actually be less risky than staying where you are. In so many cases, safety is an illusion.

Understand that failure is not the end of the world.

Once you enter the world of entrepreneurs, you'll have earned the respect and support of a whole new group of people. Failure is part of this world. Many successful business owners have failed many times. It's really not a big deal. You'll get far more respect from people for having the guts to follow your dream in the first place. That opens doors all over the place.

Don't just take a risk. Take a calculated risk.

Simply hating your job is no reason to start your own business. Ego is not a good reason, either. If you have talent, experience, and some good ideas on how to run your business effectively, you're half way there. Now plan your enterprise. Channel your sleepless nights into something productive. Having a plan melts away fear and doubt.

Embrace discomfort.

Starting a business can be very uncomfortable. Good. When you're uncomfortable, you're learning. And if you start a business, you'll be learning a lot. One year later, you'll be a totally different human being. You'll have learned skills that will make you an even more valuable employee, should you ever go back to working for someone else. (By the way, you won't want to.)

Share the load with people you trust.

I couldn't have done this by myself. Having a great business partner and a supportive spouse made all the difference in my case. In many ways, they pushed me through times of personal doubt or fear. You'll need that kind of support. You'll also need a good CPA and a lawyer. Surround yourself with a good team of people with the skills and knowledge you don't have, so you can focus on your own talents and abilities.

Don't look back.

Trust your gut. Unless you've made a rash decision, you should stick with your plan. When the first obstacle comes along (and there will be many), you better not look back. You can drive yourself crazy wondering if you've made the right decision. Make your decision and then put all your energies towards making it right. Be flexible, but only in moving forward.

Understand that starting a business is quite simple.

There's no big trick to it. No magic formula. You don't need an MBA or a business degree. A few signed papers and you're incorporated. My partner and I each paid $500 to buy our corporate stock. We've never had to put another dime into the place. We were profitable and paying ourselves the very first month. Which isn't to say starting or running a business is easy. It's the hardest, most rewarding work you'll ever do.

Trust me, though. If we can do it, so can you.

 

Comments

[Scarlet]

Congratulations to you and your business partner on seven years doing it your way. You're an inspiration, bad banana.

[Nicholas Butler]

I love this post and I love the message.

Nik

[Cathryn Hrudicka, Chief Imagination Officer]

Outstanding advice! Congratulations on your seventh anniversary, by the way. As a fellow business owner, I second everything you've said. Fear is the biggest obstacle we face, and "failure" may just mean you haven't done something long enough yet. If you hang in there and think creatively, you will find your way.

Thanks for this great post, which I hope encourages droves of people to think seriously about starting their own businesses—and those who don't may want to think about being more "entrepreneurial" in the way they approach taking initiative in their jobs.

—Cathryn Hrudicka, Chief Imagination
Officer/CEO, Creative Sage™

[Chris Weige]

This post should be mandatory reading. It's perfect and so is the ad. You guys are amazing at what you do, no doubt. I'm admiring the Jazz Factory cd right now too.

Congratulations and thanks for your well of inspiration. Nebraska is lucky to have you.

Chris

[Bryan Mohr]

Cheers on your anniversary! There's no doubt you have many more successful years ahead.

[Tara Anderson]

Wow...thanks for the inspiration. You have shared great advice about not just how to start your own business, but how to live.

[kellyd]

Great post!

[Connie Reece]

Tim -- congratulations on seven years of success (along with your share of ups and downs, I'm sure). Awesome accomplishment!

I started a new business a few months ago. My partner and I have a simple business model: be nice. When we're feeling expansive, we state it as: be smart, funny and nice.

Crazy thing is, it's working.

[Barb in Nebraska]

Wow! Congratulations and great advice! More proof in the, 'Do what you love' why of life, that is working for me and my husband.

[Adnohr Yak]

A kindred spirit. Bravo!

[Drew McLellan]

Tim,

12 years ago in October, I jumped off the same cliff. With the same fears. The same sleepless nights. And I suspect, the same hopes.

Congrats on the milestone. I know what it took to get there.

Drew

[Valley Girl Intelligentsia]

EEEEE!!! I love the ad! Its clean and clever Besos! Congrats!!

[Jim Long]

you have no idea how inspiring and timely this post is for me. great ideas!! thank you for sharing them.

[Jim Turner]

Like the others here, thanks for the advice. As I sit here without my job of 17 years looking at being a success, I can look back on 17 years of fear. Here is to the next 17 filled with success and positive fear!

[Roger von Oech]

Good inspiration for all. Thanks for sharing, Tim. (Most posts like this, in addition to the other beautiful stuff you showcase!)

[Gavin Heaton]

Great post and advice, Tim.

[LS Online]

"Realize that the status quo is not safe."

No it's not safe but the cash flow and benefits of your job is a great plus!!! If you live below your means, have marketable skills and 6+ months of living expenses saved then you should make it through almost any economic storm.

I'm getting a bit tired of these rah-rah blogs of how easy it is to start a business is. Honestly, I think this advice is borderline dangerous. Correct that, starting a business is easy, having a SUCCESSFUL business is NOT an easy thing to do.

I'm not saying this is totally bad advice, some of the points are insightful but you need to really look at your life situation before making the jump.

Congratulations you have lasted 7 years that means you are in the top 5%. Just know that 95% of the businesses that started at the same time you did have now failed.

[Len Edgerly]

Sound and inspiring advice, especially the "calculated" risk part.

[Matt Charron (you_decide)]

Hope you can still feel the adrenaline rush, 7 years on. Remember, bananas have a very short shelf-life, so keep on re-inventing!

[Justin]

Great post. I think having a supportive spouse is very important. One who understands what your going through both emotionally and financially. I started on my own January 1, 2001 and have not looked back since.

[Kevin Zink]

Nice post.

I co-own a web development in Omaha and we have a similar start up story.

We quit our jobs with just a hope and prayer that things work out. We've only just reached our 1 year mark, but things are working out pretty great.

I agree wholeheartedly with all 7 of your points, especially the first one!

[Rick Wolff]

Which would you (or, more to the point, I) rather have: sleepless nights in a freefall of my own making in an income source of my own design, or sleepless nights pondering a dead-end job where a little corporate sycophant who thinks he's an art director controls my every move, second-guesses my professional judgment, and keeps me in the dark about everything? Hmm, let me think.