I believe in building successful startups that people want to spend every waking moment working on; world changing companies who have happy employees and happy founders, not to create more jobs that people don’t love doing.
The approach to doing this is not to start by finding a big problem and creating a solution. It’s to find something that you care so deeply about that it drives you to spend every waking moment battling to bring this vision to life.
You feel so strongly about making this change and serving this particular bunch of people (your customers) that you will do everything in your power to build a solution that is perfect for them. And, importantly, you will love the journey because you absolutely believe that this is what you were put on this earth to do.
Ok, but how do I do that? You start by looking at yourself. What you feel deeply passionate about. You start by understanding your own personal philosophy on the world, and how it should work, then you figure out how you can make a change. That is where you start with the problem/solution approach.
It’s time to start appreciating your philosophy
Philosophy is never a word that I paid much attention to previously. Academia squeezed out any interest I might have had after taking a mind numbing philosophy paper at University, none of which had any relevant to anything really (in my opinion).
Fortunately, the concept has been re-introduced into my life over the year and I believe that it is fundamental to building a happy, successful startup.
What do you mean by your philosophy?
“Your philosophy contains your beliefs about how the Universe works and what your role in that universe is” Dr Kerry Spackman, The Winners Bible
Everyone has their own unique philosophy because we have unique experiences which have shaped our beliefs about ourself and the world.
Your philosophy incorporates, among other things, your passions, your values, your self-image, how you perceive others, how you perceive the universe. Importantly, for the purpose of this article, it influences what you think is wrong with the world and how you would like to change it (Eureka! That last part is akin to the problem/solution approach)
“All the learning, beliefs, skills & experiences you have accumulated over your life shape your philosophy.”
Why your philosophy is fundamental to your business
1) Aligning your business with your philosophy gives you super powers.
Passion and belief are fundamental to success. When you are doing something that you love and feel strongly about, you have a huge competitive advantage over those who don’t. You will have more energy, creativity, motivation, authenticity the ability to work harder and you will attract the right people into your business. Your energy is build up by working on the tasks you feel passionate about, instead of being depleted. Your performance will be better and your business will grow faster.
2) Your philosophy is the most unique value proposition you can have
One thing that I struggled with when starting out was defining my unique value proposition (UVP). Because when it came to describing my UVP in the sense of a business plan or the canvased approach, I didn’t have one!
I didn’t have an advantage that enabled me to have a cheaper product, or an exclusive partnership, a secret recipe, IP, specialised knowledge or anything of the sort.
All I had was a chip on my shoulder, my opinion on what was wrong in an environment which I could directly impact, and a determination to do something about it.
The ‘chip’ was my perception of inequality when it came to entrepreneurship. I believed, and still do, that the entrepreneurial way of life should be accessible to everyone. Not just people who are fortunate to have been brought up in environments conducive to becoming an entrepreneur (right contacts, right school, right bank balance, right upbringing to produce the right mindset).
This was my philosophy and my unique value proposition, I just didn’t realise it at the time.
This is what fuelled me to start Mum’s Garage, and why I offer something that is different to others in the same market.
You see the thing about your personal philosophy is that IT IS COMPLETELY UNIQUE TO YOU. It is the most unique value proposition that you can have in your business, because there is only one of you.
When it comes to creating your business, your job as a founder is to infuse this philosophy into your business through you vision, mission, values, story, brand etc. Your philosophy is the magic in your business that will help you to stand out from the rest.
You can see the importance of infusing philosophy into your business by looking at entrepreneurs who have made it big time (world changes such as Steve Jobs, Richard Branson, Oprah, Warren Buffet, and a few other people who I know on a personal level who have made it, but not yet as big time as these heavy hitters).
Virgin is a perfect example of Richard Branson's philosophies around having fun in life, as is Apple with Steve Job’s philosophy on design thinking. They have built monopoly-style businesses based on their unique philosophies.
3) Your customers will buy your products or services because they believe in your business
I talk about this more in my previous post, In This Hyperactive World, Values Are More Important Than Ever.
Consumers are more empowered than ever and they are choosing to buy products or services that align with their values and their personal philosophies. They will choose to buy your product or service because of what you stand for, especially if you are a startup!
By infusing your philosophy into your business, you are creating a reality that your customers can be a part of by consuming your product or service, which is incredibly powerful.
The problem with startup culture
The problem with the commonly taught startup approach is that it encourages founders to create businesses that fit into a particular mould, by trying to be like other successful businesses or by adapting your business to fit a particular plan or canvas.
While that approach is great for guidance, do not forget about the intrinsic value that you provide. It is your own philosophy that makes you a visionary and will drive you to create a revolutionary business.
“The beauty of entrepreneurship is that you can unleash your complete philosophy into the world through your business.”