Friday Focus: Your Revolution
On July 4th we commemorate the signing the Declaration of Independence, the day where a few great men came together and decided with their fellow citizens to break ties with the status quo and embark on a perilous journey towards the pursuit of freedom.
Starting your own business in many ways is similar, it’s taking a risk, a rebellion from the norms and seeking the very same freedom the Founding Fathers envisioned and fought for.
When you take up entrepreneurship as a serious endeavor, it’s your personal revolution from your previous job, traditional standards and most of all, it is a declaration of war against your competitors in your new chosen area of business.
Just as the British Imperial Army was during the American War of Independence, so are your competitors, they are powerful, resourceful and have long -standing dominance over your target audience and marketplace with seemingly unlimited resources and experience to topple your rebellion. The odds are stacked against you, as were against the Continental Army back in the 1770s.
Out-gunned and outnumbered your business just starting up has to find a way to defeat a formidable opponent, relying on speed efficiency and cunning, you’re able to open to gain valuable territory and eventually a foothold to launch a winning campaign in the hopes of securing a lasting presence and share of the market.
As the Patriots were able to capture Fort Ticonderoga during the War, your brand needs to land a decisive victory and gain a launch pad where it can dispatch campaigns to penetrate the market and take on your rival competitors. Having a strong Identity to your product and service is of great importance. Becoming recognizable and reliable to the brand and the commodity you deliver to the customer are what form the walls of your fortress. If you are able to produce something better in quality or service vs your competitors, you have successfully captured some of their territory.
Efficiency is of paramount significance when facing a larger opponent, as with any startup you won’t have the manpower or resources financial and otherwise to stand squarely toe to toe with the enemy.
When George Washington was leading and raising the Continental Army he was faced with significant challenges, low pay, inadequate training, outdated equipment, yet still found a way to motivate his men and inflict damage on a larger opponent. For Washington efficiency was key, choosing his battles in favorable locations where the full might of the British Empire couldn’t be organized or deployed. Raids, skirmishes, nighttime and winter assaults were all conducted by Washington with extreme precision allowing him to use all his available resources to the utmost of their abilities.
The famed picture of Washington crossing the Delaware river, by Emanuel Leutze depicts the most consequential surprise attack on a British position in the War. The Patriots were badly outnumbered and low on stores and ammunition after suffering a harsh defeat the previous battle. Washington knew it was just a matter of days until the Loyalist Army launched a final attack to finish them off. On the night before Christmas, he and his men cross the frozen Delaware river to attack, they successfully caught the British by surprise winning a decisive victory preserving the Army and eventually leading to British surrender throughout the colonies.
Many of these same principles translate to your business, be aware of your resources, limitations and create an effective strategy to generate progress even as it may seem the odds are against you. Building a product, a team, collecting resources and supplies are all similar challenges, however with creativity and strategy all needs can be met and limited resources can all be utilized for robust advancement. Look externally and internally for partnerships, answers and resources, continue to persevere and strive to out-work everyone.
Washington was also good at retreating, living to fight another day. Washington was 2-7 in battles as commander of the Continental Army. In fact, at the beginning of the war Congress debated replacing him as commander of the armed forces. They obviously scrapped this motion realizing the value in the general. Washington was able to understand when to pivot, cut his loses short and maneuver his men, resources and willpower to the next objective, in doing so preserved his Army limited casualties and led to ultimate victory.
This is so essential for entrepreneurs, the ability to pivot, adapt, change and become flexible leads to success in the short and long term. The market, consumer, technology, social trends are always changing, so must be your strategies, concepts and even products. Get realistic, if you make bad investment, or decision; recognize it, back away, come back stronger and wiser. Businesses fail because they lack the ability to see things in a realistic way and instead get stubborn and lead themselves off the cliff towards bankruptcy.
Like Washington and the Patriots, or the original drafters of the Declaration of Independence, entrepreneurs can all draw many similar parallels. Many of you reading this have already signed your declaration of independence and embarked on your own revolution in the business world. Congratulations on taking the first steps to freedom, be smart, pragmatic and never stop fighting. Then, hopefully, like Washington and our Founding Fathers, your idea can last the next 250 years.
To gain personalized guidance for your business on this topic and others contact us.
- Vince Calace
Founder - Venture Business Development