Amelia Earhart – a role model for C21st female entrepreneurs

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life and the procedure, the process is its own reward.

The words of Amelia Earhart. Spoken like a true entrepreneur, this quote captures her drive and focus. Her flying achievements are extraordinary, and demonstrate her strength and spirit as a female pioneer.

Yet despite Earhart’s achievements and those of other iconic female role models, female entrepreneurs with the ability, influence and passion to transform a generation are often ignored, with just one in five startups that receive investment being founded by a woman. Why?

One reason could be that female entrepreneurs seeking investment for their new idea are likely to be almost entirely male faces. Just 13% of senior investment teams are women, and almost half of investment teams have no women at all. This surely contributes to a stark gender imbalance in the businesses that investors fund.

The gender bias female entrepreneurs face undoubtedly deters many. Add to this the reality that women still take on a far larger share of family related responsibilities than men, and it is no surprise that so few female innovators take the plunge. While this is fundamentally unfair in a diverse, democratic and open-minded society, it is also economically short-sighted – research shows that the UK is losing out on £250bn of economic value each year because of the daunting barriers facing women entrepreneurs.

However, there are signs of some positive change, with the Government’s commissioning of Alison Rose (Deputy CEO NatWest) to lead an independent review of female entrepreneurship earlier this year. The review shed renewed light on the barriers faced by women starting and growing their own businesses, and identified ways of removing them.

In response, the Government has announced an ambition to increase the number of female entrepreneurs by 50% by 2030, equivalent to nearly 600,000 additional female entrepreneurs. The Rose report and Government response is hopefully the catalyst needed for society undergoing a shift in outlook. While the UK is in many ways the startup capital of Europe, it lags well behind the Netherlands, Spain, Australia, the US and Sweden in terms of the proportion of female founders.

For investors, putting money into female founded startups makes financial sense, as there is substantial evidence that gender diversity fosters creativity and results in better decision making by encouraging new perspectives which men frequently lack or disregard. Yet women-owned enterprises represent less than 25% of UK business.

Alison’s report thus identified three fundamental changes needed to overcome the barriers faced by women entrepreneurs:

Increase funding directed towards female entrepreneurs. Access to and awareness of funding was highlighted as the number one issue for female entrepreneurs across the entire entrepreneurial journey, from intention to scale-up. Female-led businesses receive 53% less funding on average than those headed by men at every stage of their journey.

To combat this the Alison recommended making more start-up funding available to women. The rewards for the wider economy and society could be huge, even if Britain does not achieve full gender parity in levels of entrepreneurship, but catches up with its best-performing peers.

Provide greater family care support for female entrepreneurs. Disproportionate primary/family care responsibilities affect female entrepreneurs throughout the entrepreneurial journey.

Making entrepreneurship more accessible for women Increasing support through accessible mentors and networks is key to boost female entrepreneurship. Alison found three reinforcing cultural barriers affect women at all stages of the entrepreneurial journey:

– Women typically have higher risk-awareness than men and are more cautious, limiting their willingness to risk their livelihood on an uncertain venture.

– Women are less likely to believe they possess entrepreneurial skills: only 39% of women are confident in their capabilities to start a business compared to 55% of men. This is a perceived gap in ability, rather than an actual gap in skill sets.

– Women are less likely than men to know other entrepreneurs or to have access to sponsors, mentors or support networks.

Alison’s report recommended eight initiatives.

Initiative 1: Promote greater transparency in funding allocation through a new ‘Investing in Female Entrepreneurs Code’, which commits all financial institutions to the principles of gender equality for investment.

Initiative 2: Launch new investment vehicles to increase funding going to female entrepreneurs, who can thus access new, potentially profitable market opportunities whilst helping women-led enterprises to grow.

Initiative 3: Encourage investors to support and invest with a specific focus on gender diversity by launching funding rounds for businesses in female-dominated sectors such as healthcare and services.

Initiative 4: Focus banking products aimed at entrepreneurs with family care responsibilities, to help parent entrepreneurs manage their businesses and the challenges of raising a family.

Initiative 5: Improve access to expertise by expanding and encourage private sector actors to offer their time to business hubs.

Initiative 6: Expand mentorship and networking opportunities, with public and private sector organisations coming together to share best practices and support a centralised networking platform to create greater connections.

Initiative 7: Accelerate development and roll-out of entrepreneurship-related courses to schools and colleges by commercial organisations to collaborate on education focused on entrepreneurship, financial literacy and self-belief.

Initiative 8: Create an entrepreneur digital first-stop shop, encouraging private sector actors in partnership with public bodies to collaborate to create a comprehensive nationwide digital first-stop information shop for female entrepreneurs.

There is no silver bullet that will transform the landscape for female entrepreneurs overnight. Many barriers are cultural and societal, and will take many years to overcome. However, the eight initiatives provide a starting platform for the significant and sustained action required to release the unrealised potential of women as entrepreneurs.

In the modern world, female role models are plentiful, to transform a generation. For example: Sylvia Plath, Malala Yousifazi, Margaret Cavendish, Maya Angelou, Elizabeth Garret Anderson, and Anita Roddick to name a few – but Amelia Earhart – the first woman to fly solo across the Atlantic and back to her quote at the top of this blog – is the stand out to me for today’s female entrepreneurs.

It was when Amelia attended a stunt-flying exhibition that she became seriously interested in aviation. On December 28, 1920, pilot Frank Hawks gave her a ride that would forever change her life. Earhart took her first flying lesson on January 3, 1921 and, in six months bought her first plane, a two-seater biplane painted bright yellow – The Canary – and set her first women’s record by rising to an altitude of 14,000 ft.

Then in April 1928, she took a phone call: How would you like to be the first woman to fly the Atlantic? After an interview in New York, she was asked to join the flight. She left Trepassey Harbour, Newfoundland, in a Fokker F7, Friendship, on June 17, 1928, and arrived at Burry Port, Wales 21 hours later. On her return, she was greeted with a ticker-tape parade in New York and a White House reception with President Calvin Coolidge.

George Putnam entered her life, too. The two developed a friendship during preparation for the Atlantic crossing and were married February 7, 1931. Intent on retaining her independence, she referred to the marriage as a partnership with dual controls.

Together, they worked on plans for Earhart to become the first woman and the second person to fly solo the Atlantic. On May 20, 1932, five years to the day after Lindbergh, she took off from Harbor Grace, Newfoundland, to Paris. Strong north winds, icy conditions, and mechanical problems plagued the flight and forced her to land in a pasture near Londonderry, Ireland.

President Herbert Hoover presented Earhart with a gold medal, Congress awarded her the Distinguished Flying Cross – the first ever given to a woman. Earhart felt the flight proved that men and women were equal in jobs requiring intelligence, coordination, speed, coolness, and willpower.

In the years that followed, Earhart continued to reach new heights. On January 11, 1935, she became the first person to fly solo across the Pacific from Honolulu to California.

In 1937, approaching her 40th birthday, she was ready for her biggest challenge: to be the first woman to fly around the world. Despite a botched attempt in March that damaged her plane, a determined Earhart had the twin engine Lockheed Electra rebuilt. I have a feeling that there is just about one more good flight left in my system, and I hope this trip is it, she said.

On June 1, Earhart and navigator Fred Noonan departed from Miami and began the 29,000-mile journey. On June 29 they landed in Lae, New Guinea with just 7,000 miles remaining. Frequently, inaccurate maps had made navigation difficult, and their next hop to Howland Island was by far the most challenging.

Howland Island, in the Pacific, is a mile and a half long and half-mile wide. Every unessential item was removed from the plane to make room for extra fuel. The US Coastguard was stationed off Howland Island and two other US ships, burning every light on board, were positioned along the flight route as markers.

On July 2, 10am local time, the pair took off. Despite ideal weather reports they flew into overcast skies and intermittent rain showers. This made celestial navigation difficult. As dawn neared, Earhart called the US Coastguard reporting cloudy weather, cloudy. At 7.42am, the Coastguard picked up the message Fuel is running low. Been unable to reach you by radio. We are flying at 1,000 feet. The ship replied, but the plane seemed not to hear.

At 8.45am, Earhart reported We are running north and south. Nothing further was heard from her. A rescue commenced and became the most extensive air and sea search in naval history. On July 19, after spending $4m and scouring 250,000 square miles of ocean, the search was called off.

In 1938, a lighthouse was constructed on Howland Island in her memory. On 5 January 1939, Amelia Earhart was declared legally dead. Neither the plane nor bodies were recovered.

There is no doubt that the world will always remember Amelia Earhart for her courage, vision, and groundbreaking achievements for women. In a letter to her husband, written in case a flight proved to be her last, her brave spirit was clear: Please know I am quite aware of the hazards. I want to do it because I want to do it. Women must try to do things as men have tried. When they fail, their failure must be but a challenge to others.

Amelia Earhart is a model of the modern independent woman, and an icon of the spirit of adventure, her myth made all the more alluring by her mysterious disappearance and failure at her final challenge. Like all entrepreneurs, her success was down to passion, sheer effort, thinking big and bold, and having a clear focus.

The unprecedented energy and attention around gender equality for entrepreneurship makes this a moment when extraordinary progress is possible. We short-change women if we set our sights too low. In the earliest days of American democracy, Abigail Adams (wife of John Adams, and mother of John Quincy Adams) urged the architects of the Constitution to ‘remember the ladies’. Now is the time.

So on the back of the eight initiatives of Alison Rose’s report, and the memory of Amelia Earhart, I believe our goal should be to expand women’s power and influence in entrepreneurship. I think of power and influence as the ability to make decisions, control resources, and shape perspectives. It is something women exercise in their homes, in their workplaces, and in their communities, and they can have the same impact on business.

 

The importance of trust between startup founders and investors

Most startup founders have an uncanny ability to suspend disbelief when it comes to the future of their venture. They’re always in sales mode – to themselves, early customers and investors, and the world in general. Startups that are on the brink of huge success are often also on the brink of spectacular failure, the line between the two extremes is often wafer thin.

Early stage startups, by definition, are almost always missing something as they iterate on product-market fit. Meanwhile, early stage angel investors can often see past these shortcomings due to their experience and learnings from their own mistakes, and provide the care and nurturing to founders needed to unlock success.

Investors focusing on early-stage startups understand this reality and accept the associated risks in anticipation of making bets on founders working on ‘10X’ ideas to realise outsized rewards. This relationship between founders and investors is a key ingredient to startup success, and isn’t just from a commercial perspective, but at a personal level – rapport, respect, mentoring and trust are vital.

Early stage investors invest because they believe in the founder at a personal level. There is something about you, and your idea that convinced them that you could make it happen. Usually, it is just a feeling and not some tangible thing they can put their finger on. Ironically, most angel investors will imagine a future version of a startup far more enticing than most sane founders are willing to pitch.

The startup game isn’t for everyone – it isn’t really for most people. At the end of the day the most likely outcome is failure, even angel investors expect most of their bets in startups to fail. In this cauldron of uncertainty and high-stakes, the most important element of the founder-investor relationship is trust.

Startup founders have the singular authority to address high-stakes challenges and make tough decisions. However, to a large extent their autonomy rests on the willingness of the investors to cede it to them. In other words, it depends a lot on investor’s trust. Leaders who violate that trust soon find themselves ousted – Travis Kalanick, whose brash and at times inappropriate behaviour repeatedly raised eyebrows at Uber, was blamed for creating a toxic culture and forced to resign by an investor revolt.

Founder trust has also been eroded by Mark Zuckerberg at Facebook. In April 2018, Zuckerberg was before Congress and questioned about Facebook’s commitment to data privacy after it came to light that the company had exposed the personal data of 87 million users to Cambridge Analytica. Then in September 2018, Facebook admitted that hackers had gained access to personal information of 50 million users. Then a New York Times investigation revealed Facebook had given Netflix, Spotify, Microsoft, Yahoo, and Amazon access to its users’ personal data, including in some cases their private messages.

So when Zuckerberg announced that Facebook would launch a dating app, I shook my head. And then they announced releasing an app that allowed people to share photos and make video calls. Why would anyone trust Facebook with personal data on something as sensitive as dating, or with a camera and microphone given its horrible track record?

Our need to trust and be trusted has a very real economic impact. More than that, it deeply affects the fabric of society. If we can’t trust other people, we’ll avoid interacting with them, which will make it hard to build anything, solve problems, or innovate.

Startup founders can’t build trust unless they understand the three fundamental promises they make to investors and the resulting responsibilities: economic – to provide value to customers that enhance their lives; legal – that they will follow the letter and the spirit of the law; ethics – investors want founders to behave with integrity.

To investors, if founders repay the trust of investment made by delivering the above promises, it means returns; and to society, it means growth and prosperity. But trust is fragile, it waxes and wanes. It means being competent, playing fair, and most of all, acknowledging and, if necessary, remediating, all the impact your decisions have, whether intended or not. Of course, it’s not always possible as a founder to make decisions that completely delight investors, but it is possible to make decisions that keep faith with and retain the trust they have in you, by being authentic and acting with integrity at all times.

Being authentic means that the gap between who you are and who you portray to be as close as zero as possible. In other words, being authentic means bringing the ‘real you’ wherever you go, in every situation and conversation. You can look at it from a moral angle, but I’m particularly interested in making a business case for being authentic.

Let’s start with what happens when you are not authentic. You will start with creating an image of yourself that is different from who you really are. It takes an effort to do that. Now, you will have to act out that image and make everyone believe that what you act out is who you really are. It takes even more effort to fulfil that. Once you act this out, you need to remember this image because you need to behave consistently with your image with all the people that have seen you portraying that image. That seems like a burden that you have chosen to carry to me. That you are interacting daily on a superficial level is odd, as betraying trust means betraying yourself.

Thinking about authenticity made me aware of my own conversations I’d been involved in as an angel investor, and recall the awkward situations where I considered my trust had been abused. Trust in humanity will only continue if we cultivate authenticity and sincerity in face to face conversation, and once these behaviours have lapsed, trust is broken and I’m done with that relationship.

Authentic’ is derived from the Greek authentikós, which means ‘original’, but just being original doesn’t mean you will be perceived as authentic. You could be an original phoney. At its heart, authenticity is about practicing your underlying principles and values – being totally clear about who you are, your purpose and what you stand for. When your rhetoric gets out of sync with your values, you lose your integrity and future persuasiveness suffers.

So I’ve used trust as a key part in assessing my appetite to work with startup founders, and my experience is that it is a hallmark of high-performing startups – employees are more productive, more satisfied with their jobs, put in greater discretionary effort, are less likely to leave, and are healthier than those working in low-trust ventures. Startups that build trust among their customers are rewarded with greater loyalty and higher sales, and negotiators who build trust with each other are more likely to find value-creating deals.

I’ve developed an approach to assess the trustworthiness of founders on five dimensions: competence, motives, means, impact and sincerity. I’ve found that founders who demonstrate these five dimensions can deepen the trust others place in them and foster stronger relationships. Conversely, founders who don’t pay attention to them can easily behave in ways that undermine trust, often without even realising it.

For me, motives and sincerity are the essential qualities I look for, they make up the moral or ethical domain of trust, the areas where I judge founders on the choices they make, whether it’s whose interests they serve (motives), how they go about achieving their goals (means), or whether they own all the effects they have on others (impact).

By understanding the behaviours that underlie trust, startup founders are better able to elevate the level of trust that investors feel toward them, and for me this can be captured into the following three elements:

Positive relationship trust is in part based on the extent to which a founder is able to create a positive relationship with investors. To instil trust a founder must:

  • Be empathetic to the concerns of investors
  • Be open minded and listen to advice
  • Respond to feedback in a constructive way

Good judgement the extent to which a founder is able to show balanced judgement, shrewdness and perceptiveness gives an investor confidence. This means:

  • They show balanced judgement when making decisions
  • Creating conviction when expressing their ideas and opinions
  • Can anticipate and respond quickly to problems, offering solutions

Consistency The final element of trust is the extent to which founders walk their talk and do what they say they will do. Investors rate and respect a startup leader highly if they:

  • Are a role model and set a good example at all times
  • Follow through on their commitments and keep promises.
  • Act in the best interests of everyone, not just themselves

Watching the current political discourse (and deadlock and chaos), I experience a longing for an authentic discussion of the core values that ought to be guiding us as a society. I feel that we are morally adrift, that we do not have a clear sense of how to ground our identities and actions to ultimate values that transcend time and place.

That is not to say that our society is largely immoral. Just amoral, lacking a clear compass or foundational guide at a critical time. Instead of a moral compass, people are constructing their own moral decisions. They don’t seem to know where they belong. They don’t seem to know that they are doing the right things with their lives. They don’t seem to know what the right things are.

And that’s a parallel to startup culture, where founders pursue their own unilateral agenda, failing to ground their perspective in a moral perspective and the legal and ethical commitment they made to angel investors who gave them their first chance. I’m seeing founders following a loose, poorly defined moral individualism that, for many, bleeds into an extreme moral relativism.

The emerging reflections on right and wrong generally reflect weak thinking and provide a fragile basis upon which to build robust businesses. Moreover, founders behaving like this do not rely on any moral traditions or philosophical ethics to make decisions. Instead, the basic position is for each individual to make up their own rules and do what is good for them.

Ultimately, it comes down to personal integrity, the state of being honest, and respecting trust given. The golden rule: don’t do anything that you wouldn’t want someone to do to you. Doesn’t mean it’s wrong or right, that is determined by each person, their experience, their perspective. And of course, we have laws. They pretty much cover it.

I believe that in healthy humans there is an inner compass that guides right from wrong. It may get modified through various lenses of philosophy, religion, and culture, but I think integrity and not causing harm by breaking trust are pretty universal. Unfortunately, it is also possible to get estranged from that compass, the influence of others, circumstances and opportunity may divert us from the path we know to be right.

For founders, it can be hard not to diverge from the path guided and shaped by trustworthiness with their early stage investors if they can see a quick personal gain. However, look in the mirror, and can you reconcile breaking the trust given to you? For certain, it is good to stay in balance and in touch with being a founder your investors trust, as much as you can.

For me, I am never one to patiently pick up broken fragments and glue them together again, and tell myself that the mended whole is as good as new. What is broken is broken, and I’d rather remember it as it was at its best than mend it, and see the broken pieces to remind me that you broke my trust.

Leading a startup in times of political & economic uncertainty

The current global economic indicators make uncomfortable reading, even before the impact of Brexit is factored in. The UK’s Q2 GDP figures recorded the first quarterly fall since 2012, indicating the economy going into reverse. As investment and exports continued to fall, the conclusion is an economy stalling at best.

Consumer spending and government expenditure are currently keeping the economy afloat, a pattern we have seen for a while. Boris Johnson seems intent on easing the public purse strings, announcing a new commitment to spending money every day on health, education, social care and crime. However, this contradicts his tax cutting promises – you simply can’t have a high spend, low tax financial strategy. His numbers don’t add up.

So we are likely to see a growing imbalance in the UK economy, as rising consumer spending and government expenditure offset declines in investment and exports, and the risk of ‘no-deal’ and the uncertainty surrounding Brexit stalls investment. The Bank of England’s low interest rate policy is exacerbating these imbalances too, by supporting borrowing and encouraging savers to look for more risky investments because the returns on bank and building society deposits are so poor.

A Brexit-driven recession in the UK may be avoided, but there is still little clarity on whether the UK will be in or out of the EU come November, making Brexit the big story for the economy with this uncertainty. Johnson has begun to brace us for a no-deal Brexit, ramping up public spending by £2.1bn on preparations including stockpiling of medicines, and a public awareness campaign about potential disruptions.

Businesses remain largely unprepared for a disastrous cliff-edge no-deal and are in sit-and-wait mode, while the CBI continue to speak out against the ongoing economic chaos. At the same time, inflation unexpectedly rose above the Bank of England’s 2% target in July, putting renewed pressure on British households as the cost of living increased.

Also in July, the unemployment rate ticked up to 3.9% while the number of unemployed rose by 37,000. The number of vacancies – which had been on the rise since 2012 – started falling at the start of the year and continues to fall. This suggests that the UK labour market has started to turn down and that weaker economic growth and the rising risk of a no-deal Brexit could be starting to impact the job market, although the jobless rate remains at the lowest level since the mid-1970s.

The average British worker still earns less than they did in 2007. In place of rising wages, consumption is being driven by growing unsecured household debt, which is now the highest we’ve ever seen in the UK. With incomes low, savings drained and debt levels high, a turn in the business cycle will mean financial hardship for families.

Outside of UK specific issues, the global economy is slowing at the end of a ten-year-long weak recovery from the 2008 financial crash. Germany has fallen into negative growth and is heading towards recession. In the US, Trump’s confrontational strategy to a trade war with China is having a negative impact on both countries. Washington and Beijing have ratcheted up the threats of tariffs on each other, dragging down global trade volumes and economic growth.

It all adds up to fearing the worst that the first global recession since the crash of 2008 is just around the corner. Recessions usually happen every ten to fifteen years: business confidence drops, investment declines, employment stalls and demand shrinks. Eleven years on from the crisis of 2008, expectations are that the next recession is unlikely to be a repeat of the last crash, as while there are risks to financial stability, none will impact the economy in the way the collapse of Lehman Brothers did.

So, let’s draw breath on the economic analysis. As a startup entrepreneur looking for meaning in this analysis, the information has contradictions, a mix of emotion, biases and cold-eyed calculation, yet expresses something about both the mood of investors and the temper of the times. Yes a recession is so far a fear, not a reality, but it is evident firms are struggling to get to grips with uncertainty, and anxiety could turn to alarm.

Often danger signals are ignored until too late. America’s decade-long expansion is the oldest on record so whatever economists say, a downturn feels overdue. For me, the portents are evident, confidence is being eroded and the storm clouds are gathering. My fear is that we’ll have a torpid economy at best, that is prone to curtailing innovation, entrepreneurship and startup investment.

There’s just no way to completely prepare for future uncertainty facing your business, simply understand that circumstances change and unforeseeable events occur, and you can make smart choices to prepare well. Not only will this provide you some peace of mind that you’re as ready as you can be, but you’re more likely to respond quickly and more effectively when trouble strikes, so here are some practical tips designed to help your startup prepare for the unknowns.

1. Stay in the now It’s easy to get caught up in your own startup bubble, but that’s a trap to avoid. One of the best ways to combat uncertainty is to stay abreast of economic indicators, as highlighted above. By being aware of the general state of the economy, and how economic forecasts might affect your business, you can put yourself a step ahead of others.

A forward-thinking entrepreneur understands the value of analysis, and not just ‘gut instinct’ intuition. Are you consistently reviewing your business strategy assumptions, value proposition and pricing to ensure they remain valid?

2. Prepare for multiple outcomes It’s wise to stop assuming a single outcome will turn up as the conclusion of a situation. You should prepare for multiple outcomes regardless of what you expect. Foresight enables you to respond effectively. The best way to prepare is to include your team in the planning process, you’ll get fresh, unique perspectives that are more likely to result in critical and innovative thinking.

There isn’t a crystal ball to help you predict the future, and there are many factors completely out of your control. Instead of trying to guess what’s going to happen next, place as many small bets as you can on multiple outcomes that are within your control. For example, focus on product improvements, customer communications, experiment with pricing and new marketing strategies.

3. Build relationships to create opportunities to grow In times of uncertainty, is a spreadsheet going to help you regain solid footing? It’s possible, but unlikely. The best investment you can make for future stability is relationship building to help weather the rough patches.

What are the signals telling you it’s time to be different and bold? Signals to watch for regarding customers are: Are your regular customers asking you for new things? How are new product/new customer sales against forecasts? When your regulars ask for new offerings they’ve shown you the direction where you’re likely to succeed.

4. Know your numbers When you’re dealing with uncertainty, it’s essential that you have a firm grasp of key financial numbers, cashflow and KPIs so you can make the appropriate changes quickly. Also, sit down with your sales team daily. This will help you pinpoint the messages to be taken between ‘lead’ and ‘lag’ indicators.

5. Regain control of your time Evaluating how you and your team spend your time helps you stay focused on the tasks that grow your business. For example, spending time writing content means you must understand what the timing and targets are for following up leads.

What’s more, tracking your time keeps you in control. It’s like weeding your garden; if you don’t stay on top of the weeds, they’ll eventually consume your entire garden. Also you should automate and delegate as much as possible so you can focus on those aspects of the business where you can personally make a difference.

6. Ensure that your passion adds up Passionate entrepreneurs can have rose-coloured spectacles, over-estimating sales and underestimating costs, being positive on the upsides and conveniently ignoring the downsides. In times of uncertainty, to convert your passion into tangible business, emphasise a strategy that makes financial sense based on how the elements of your business will come together. It’s all about the clarity of your thinking and your assumptions. The numbers fall out from this.

7. Attach to the market, not your idea Passion is an essential ingredient, but a successful start-up is rooted outside the founder, in the market with customers. To turn your passion into revenue, always think about your business from the customer’s perspective. Why would they buy from you? What problem are you solving? What is compelling about your value proposition?

8. Develop a sense of timing Waiting for the right moment to take a decision often makes the difference between success and failure. Adopt a ‘So What?’ and ‘What if?’ mind-set, and map out alternative options. It’s a marathon not a sprint, reflection and consistency are as important as innovation in resetting a ‘business as usual’ model in turbulent times. Be alert, timing is everything. You need to say ‘no’ sometimes, and make some bets.

9. Don’t micromanage Getting deep in the weeds gives you little time to get that 10,000ft perspective, you should work ‘on’ the business not ‘in’ the business, you’ll find your greatest contributions come when you pull yourself back. Focus on your vision and North Star – each week ask yourself What have I done to move the business forward?

10. Don’t be too opportunistic, don’t be too defensive Strike a balance. Adopting a pragmatic, balanced approach is likely to maximise the chances of you surviving a period of uncertainty. Recognising that cost-cutting is necessary to survival while also understanding the role investment and innovation plays in long-term growth, is key to steering your business through choppy waters.

A balanced strategy accepts the reality of the present and reacts accordingly, while also preparing for the future. You can not only survive uncertain times, but also learn valuable lessons that will stand you in good stead for longer term success. Judicious investment, proactive innovation, increased operational efficiency, refocused propositions, honed processes and competitive advancement are all possible when it’s tough going, there are silver linings.

So, are you preparing for the potential recession into which your startup maybe heading in the next six months? Don’t ignore how much is beyond your control nor take your focus off of what is within your control. Develop the resilience, flexibility and competitive edge to ride through the rough waters and come out in good-nick, ready and aligned for when sailing becomes smooth.

Strategic readiness comes through a combination of awareness, flexibility, strong navigational leadership, resilience, collaborative working, considered learning, ongoing innovation and agility. Now is the time to act. Make the necessary adjustments to your business now to help prevent it becoming another statistic of an uncertain environment.

Taking risks is what a startup is all about, but you can research and keep your ear to the ground too – the process of planning is important – but in the end you have to work from your instinct and be fearless. When you’re feeling the apprehension about the horizon, that will help you manage the ambiguity of an unknown future and forge ahead in confidence.

For entrepreneurs, the dream of a future lies in the present moment. Great innovation comes from asking what could be. Don’t be afraid to take a risk to see your dream into reality, even if the waters are choppy. Security is mostly superstition. Avoiding danger is no safer in the long run than outright exposure. Life is either a daring adventure or nothing.

Reading gives us someplace to go when we have to stay where we are

What’s your favourite holiday location? I’m a remote beach lover, the more deserted the better, trudging slowly over wet sand, sit on the promenade, write a postcard. It wouldn’t take much to convince me to give it all up and live in a hut on a desert island with just the shrill cries of the gulls and coconuts hitting the roof. Perfect beaches, perfect water, your own space, all the seclusion you could want.

When hearing desert Island, we often picture an idyllic tropical hideaway, sandy beaches and swaying palm trees. And what are palm trees known to be good for? Hanging up a hammock of course! That’s all I’d need, a life of Robinson Crusoe would suit me.

This is what was in the mind late one evening in 1941 of broadcaster Roy Plomley, at home in his pyjamas, when an idea came to him. He sat down and wrote to the BBC’s Head of Popular Record Programmes, Leslie Perowne. The pitch was successful and a broadcasting institution was born.

Desert Island Discs is a biographical radio programme, broadcast on Radio 4. It was first broadcast on the BBC Home Service on 29 January 1942. Each week a guest – a ‘castaway’ – is asked to choose eight pieces of music, a book and a luxury item, that they would take if they were stranded on a desert island, whilst discussing their lives and the reasons for their choices.

More than 3,000 episodes have been recorded, each with The Sleepy Lagoon, composed by Eric Coates, as the signature opening and closing theme music. The sound of herring gulls also accompanies the tune to put emphasis on the desert island, but a listener pointed out that herring gulls live in the northern hemisphere – therefore it would not have been a tropical island as intended!

So let’s say I was castaway on my desert island, and that I could swap the music and take books instead. I think I’d take the books that I’ve enjoyed cover-to-cover, and those I’ve read in small portions but have not had the patience or time to read completely. Alone on a deserted island with little to do and few distractions, I’d enjoy them carefully line by line, hanging on every word. A good book has no ending, it opens your mind.

To me, the world of books is the most remarkable creation of man. Nothing else that we build ever lasts. Monuments fall, nations perish, civilisations grow old and die out, but the world of words and books are volumes that live on. I have been a voracious reader all of my life and the older I get, the more I love to open a book and let it take me where it wants me to go.

I have always seen reading as an activity to stir my curiosity.  When you read a book you conduct a private conversation with the author. E. P. Whipple once wrote, books are lighthouses erected in the great sea of time, which I think is a great summary of how I feel.

So, which books to take? I’d focus on books on startups, entrepreneurship and innovation, on the basis that I’d use the time to plan a cracking new business venture. So in no particular order, upon my desert island bookshelf, sheltered from the elements, I would have these lovely books:

1. Zero to One: Peter Thiel. Entrepreneur and investor Thiel shows the most important skill that every entrepreneurial leader must master is learning to think for yourself. Doing what someone else already knows takes the world from 1 to n, but when you do something new, you go from 0 to 1. Zero to One presents an optimistic view of a new way of thinking about innovation: it starts by learning to ask the questions that lead you to find value in unexpected places.

2. The Lean Startup: Eric Ries. This book has been out for some time, but still an invaluable read. Reis’ mantra is Vision-Steer-Accelerate, following a process of build-measure-learn to continuous innovation to create radically successful startups. Reis seeks to change the way companies are built and new products are launched, it’s about learning what your customers really want, testing your vision continuously, adapting and adjusting before going for scale and investment.

3. Disrupted: Ludicrous Misadventures in the Tech Start-up Bubble: Dan Lyons. A lighter read! Lyons was Tech Editor at Newsweek, and made redundant. Hubspot offered him a pile of stock options for the nebulous role of ‘marketing fellow’ and a return to work, what could possibly go wrong?  What follows is a hilarious account of Dan’s time at the start-up, a revealing trenchant analysis into the dysfunctional culture that prevails in the startup world flush with cash and devoid of experience, a de facto conspiracy between those who start and those who fund companies.

4. Thinking Fast & Slow: Daniel Kahneman. A psychologist and Nobel Prize winner in economics, Kahneman provided this bestselling explanation of how people think, describing the fast, intuitive and emotional ‘System 1’ and the slower, more deliberative and more logical ‘System 2’. By understanding these systems, you can learn to think things out more slowly, instead of acting on an impulse – a good discipline when excited about your startup.

5. Sprint – Solve big problems & test new ideas in five days: Jake Knapp. Sprint offers a transformative formula for testing ideas. Within five days, you’ll move from idea to prototype to decision. Based on Knapp’s experience at Google Ventures, it helps answer the big question every day: What’s the most important place to focus your effort, and how do you start?  A practical guide to answering critical business questions, for anyone with a big opportunity, problem, or idea who needs to get answers today.

6. Hooked – How to build habit forming products: Nir Eyal. Why do some products capture our attention while others flop? What makes us engage with certain things out of sheer habit? Is there an underlying pattern to how technologies hook us? Eyal answers these questions with the Hook Model – a four-step process that, when embedded into products, subtly encourages customer behaviour. Hooked is written for anyone who seeks to understand how products influence our behaviour.

7. Be More Pirate – How to Take On the World and Win: Sam Allende. This book is part history, business, and a revolution manifesto, a glorious celebration of movement-makers and game-changers. It’s a compelling read that will have you planning your very own mutiny on your rescue from the island from the comfort of your hammock. So whether you want to change the whole world, or just your own, this is the book you need to do it.

8. S.U.M.O. (Shut Up, Move on) the Straight-talking Guide to Succeeding in Life: Paul McGee Paul McGee′s personal development stuff has humour, insight, practical tips and personal anecdotes, a thought provoking read. Now updated to celebrate ten years since first publication, the S.U.M.O. principles will keep sanity and curiosity intact in your isolation:

  • Change Your T–Shirt: take responsibility for your own life, don′t be a victim.
  • Develop Fruity Thinking: change your thinking, change your results.
  • Hippo Time is OK: understand how setbacks affect you and how to recover from them.
  • Remember the Beachball: increase your understanding and awareness of other people′s world.
  • Learn Latin: change comes through action not intention, remove the tendency to put things off.
  • Ditch Doris Day: create your own future rather than leave it to chance. Forget the attitude que sera, sera, whatever will be, will be.′

9. Business Model Generation: Alexander Osterwalder.  An old ‘un but a good ‘un. This book allows you to answer What’s your business model? Intelligently and with precision. I’ll be cheeky here and add in Osterwalders follow-on book Value Proposition Design, describing how to get product/market fit right is another must have for your island bookshelf.

10. The Hard Thing About Hard Things: Ben Horowitz. Building a business when there are no easy answers, this series of essays about what CEOs face in the ‘build phase’ – the transition from searching for a business model into a company. More than any book I’ve read, this gives an insider’s perspective on what it’s like to lead and scale a startup.

I have hours to read on the island, where my imagination could runaway, really no longer reading what is printed on the paper but swimming in a stream of impulses and inspirations. Writers open our hearts and minds, and give us maps to our own selves. Imagine what thinking you could do with these books, the freedom and the isolation on a desert island!

Books save you time, because they give access to a range of ideas, emotions and events that would take us years or decades to experience directly. Literature is the greatest reality simulator, a machine that puts you through infinitely more situations than you can ever directly witness.

They also perform the basic magic of what things look like though someone else’s lens, giving us contrast and perspective, descriptions that will trigger our thinking with an honesty and insight quite different from what ordinary conversation allows for, that enables us to have those informed conversations with ourselves.

With the expertise, insight and guidance offered by these entrepreneur practitioners, the mastery and purpose of an entrepreneur is there to inspire you to get out of the building, and move from ‘thinking’ to ‘doing’. In addressing this challenge, I’ve been reflecting that the proper place to study elephants is the jungle, not the zoo as an appropriate starting point.

Furthermore, each of the ten books suggests a continuous learning processes includes peer and reflective learning, and that not all learning experiences are positive, dealing with failures or problems are an important source of learning.

Some people might tell you that books are no longer necessary now that we have the Internet. Don’t believe them. Books help us know other people, a telescope onto the minds of the author, and in the process, know ourselves more deeply with even greater clarity. A book in the hand has far more intimacy than any digital device or screen.

In many ways, books are the original Internet; each a hyperlink into the next rabbit hole of the written word. Just like the web pages you visit most regularly, your physical bookmarks take you back to those book pages you want to return to again and again, to reabsorb and relive, finding new meaning on each visit, because books create the habit of reading and learning.

I once watched a small hermit crab crawl out of its shell and into a larger one nearby. Maybe we are no different. There were those before us and there will be some after us. All we can do is cultivate what is given to us, and improve ourselves. Maybe our lot in this life is to leave our shells better than when we found them so that the next soul will flourish here. Books, and learning from others, can help you do this.

Reading gives us someplace to go when we have to stay where we are, and on the desert island, I’m staying put for a while. I think I’d enjoy my time reading and thinking about my next venture, and taking the lessons from each of the books to build my own startup success when I’m rescued. Although maybe I should also take a book about ‘How to build a boat…’

Choose your startup co-founder like you would a spouse

They started to arrive about eighteen months ago, an endless cascade of luxuriously quilted envelopes, thumping onto the doormat. The wedding invitations. Nothing to do with Harry and Meghan, but friends of my children. It’s that mid to late twenties age group.

It’s unstoppable, luxuriously creamy envelopes the thickness of a letter bomb containing a complex invitation. They are a triumph of paper engineering, a comprehensive dossier of mobile phone numbers, email addresses, web sites, how to get there, what to wear, Amazon gift lists.

This isn’t the first wave of weddings I’ve been witnessed, that was when many of my contemporaries married soon after university. In these wedding photos the bride and groom are seen raising pint glasses, raucous groups of silly 1980s haircuts, and modest wedding gifts.

There was a second wave, the late-twenties weddings, which still retained a little of that tongue in cheek home-made quality. The most memorable was a reception that took place in the groom’s parent’s gardens in Bristol, vows were self-composed and rigorously secular. But a cold, hard edge of professionalism had started to creep in: the idea of the pre-prepared ‘wedding list’ had begin to rear its head.

I remember the ‘entertainment’ was from an all-girl band – including the bride – that had obviously taken a series of wrong-turns and bad choices in their musical direction. Their sang their own songs, one was about miserable summer jobs. The bride subsequently packed up the band and took a course in Circus skills until is transpired that she had none. Trapeze was not the answer.

Then the third wave emerged, proving to be the most spectacular, weddings of friends in the early to mid-thirties who had been working for the best part of a decade, and had some money to throw at a once-in-a-lifetime event. Country House hotels, vast marquees like Bedouin tent cities; silk grey morning suits and top hats, hired and worn with absolutely straight faces, string quartets and Ceilidh callers, even ice sculptures. One couple left the reception in a hot air balloon.

Now I’m on the fourth wave as I say, friends of my kids. This weekend I was at one in Cheshire. I was on table twenty-four, near the back of the room. I didn’t take it personally, although I was tempted to tamper with the seating plan. What’s the main course I asked? The rumour mill says salmon. Salmon, salmon, salmon at weddings, I feel like swimming upstream.

A wedding requires immense reserves of love and commitment and time off work, not least from the guests. Confetti costs two pounds a bag – it had to be Vintage Rose Pink and White Heart Biodegradable Tissue Paper Wedding Throwing Confetti. A bag of fragrant boil-in-the-bag jasmine rice from Aldi wasn’t approved by my wife.

Will it be bonding, soul mates for life, or the start of melancholy, wet winters of recriminations, slammed doors and watching TV together in silence?

It’s really not an exaggeration to say that hooking up with a new partner launching a new business is just like getting married and gaining a spouse, you embark on a joined-up hope-fuelled journey towards a bright and optimistic future. So you should prepare for a co-founder relationship in much the same way you would for a marriage – even when two people are a perfect fit, there are going to be times when someone needs to speak up, and say something difficult.

Great co-founders can make even the worst times feel fun and bearable, they will sit with you at the bottom of the pit on your lowest day and tell you that it’s going to be okay. This relationship can determine the success or failure of your business. When you build a business with someone, your lives will inevitably intertwine, and as in marriage and business relationships, you have to have each other’s backs.

Many successful companies were built by productive co-founder relationships. How did these individuals find their business buddies, and what made their combined skill-sets a successful collaboration? Not surprisingly, many were long-time friends, classmates, or relatives, but there is a common trend: the most well-rounded co-founders recognised their individual limitations and respect what the other brings to a partnership. Let’s look at a few examples.

Larry Page and Sergey Brin founded Google (1998), meeting at Stanford’s PhD program in 1995, but they did not instantly become friends. During a campus tour, Brin was Page’s guide and they bickered. Despite their quarrel, they worked on a research project together, The Anatomy of a Large-Scale Hypertextual Web Search Engine, which became the basis for Google.

Steve Jobs and Steve Wozniak founded Apple (1976). They became friends at a summer job, Woz was busy building a computer, and Jobs saw the potential to sell it. Why did their partnership work? Woz admits that he never thought to sell his computer model, that was all Jobs. Woz’s technical skills paired with Jobs’ business foresight makes the two an ultimate business match.

Bill Hewlett and Dave Packard came together in 1939. Classmates at Stanford, following graduation, they went on a two-week camping trip, and became close friends. Shortly after they started HP. Why did their partnership work?  They were best friends that clicked because they had complimentary strengths and were driven by joint-achievement, not personal success.

Francis Jehl was Thomas Edison’s lab assistant at the Menlo Park research facility as an eighteen year old, straight from school. After the completion of Jehl’s first assignment, Edison noticed Jehl’s work ethic and was so impressed that he started to work collaboratively. Whilst Edison regarded Jehl as a co-founder, not all entrepreneurs need an ally.

Research shows start-ups with co-founders are four times likely to be successful than those going solo – a strong case for forming a double act. Going it alone it’s easier to make decisions quickly and go for it, and generally you can’t fall out with yourself, and you also learn more – by necessity.

Alternatively with a co-founder you have the benefits of ‘two heads are better than one’, improving decision making and being more likely to reach the right outcome faster. With a co-founder, you’re also not spreading yourself too thinly, taking responsibility for everything, and working with complimentary skills and doubled bandwidth, more gets done.

So, everything considered, what are the attributes you should consider when seeking a co-founder?

Aligned motives If one founder wants to build a cool product, another one wants to make money, and another wants to be famous, it won’t work. Pay close attention and unearth true motivations, which are revealed, not declared, it’s better to get that out in the open early and talk it through.

Personal compatibility Play a couple rounds of monopoly together, just to see how they react to opportunity and adversity – and if there is humour in the relationship. There are of course other such ways to gauge this but don’t co-habit without dancing together socially first, doing something outside of work with your potential future partner may be eye-opening.

Future skills matter more than present skills It’s impossible to judge the potential skills of a person on day one. So instead, while we don’t predict future skills, avoid giving too much importance to current skills too. Startups demand different sets of competencies at various stages in their journey – being a CEO of a startup means being the Chief Everything Officer initially – co-founders need to be fast learners in order to acquire new in-demand skills.

How will decisions get made?  This is a fundamental tenet of the relationship and BAU operating model. If it’s tied to voting the number of shares, you’re on dangerous grounds. Setup a management board and decide what kinds of decisions are made by the board, and which ones don’t. Common areas to address are decisions around hiring/firing, pricing and employee salaries.

Learn to trust each other The underlying question here is Can the founders work closely together for an extended period without killing each other? If one or more of the founders has some ‘tic’ the others don’t like or if there’s some odd feelings there, it might be overlooked in the rush to include people on the team who have a particular skill. Basically, can you spend 24/7 time together and have trust, tolerance, space and stretch when needed?

What it’s like to share the highs and lows, the successes and the failures, and the feeling of having someone alongside you, shoulder-to-shoulder all the while confident they think the same way? By merging their disparate talents and idiosyncrasies, effective co-founders sync when it comes to the course they co-charted. That kind of strategic cohesion is the secret sauce behind successful startups, so try to create that serendipity in your own startup enterprise.

Of course, besides the ‘strategic’ stuff, there’s also the everyday realities of working together. The face you see day in and day out, no matter what hour of the day, what day of the week, will be your co-founder. They know everything about you – while it may start with knowing about your business personality, their knowledge of your life will soon extend to everything personal. They will also know what your poker face, happy face, sulky face, and goofed-up-big-time face looks like.

Whether you’re married or not, your co-founder will always prove to be your alter spouse, so what about the real day to day issues you need to be aware of when selecting a co-founder. Here are a few:

Tantrums and bickering Each mind is different and there’s going to be noise. It will be fun for the honeymoon – and then reality sets in as you deal with everything under the sun. Hopefully your passion for the startup will always be enough adhesive to bring you together again.

You’ll learn about each other’s likes and dislikes Your co-founder will know what order to place for you at the coffee shop. The same goes for you, you’ll know if she prefers to work with music on in the office or in the quiet. More times than not, you’ll have learnt these things the hard way

Washing the pots In a startup, there will be loads of little, time consuming things to do and only the two of you. You’ll split the workload between yourselves, the good chores and dirty chores alike. Remember, the most important four words for a successful marriage: I’ll do the dishes.

Compromising to get along You’ll be scanning every small area of expenditure. There will always be disagreements over what you need and what you don’t need, and learning to compromise is key.

Keep it fresh Like spouses, business partners need their own ‘date night’, relationships won’t flourish without regular, open and honest communication.

The things that make startup co-founders work effectively together reflect spouses’ relationship in a successful marriage. Most important it that you make it a habit to set aside time for getting together to review priorities, discuss challenges, concerns, frustrations and generally check in with each other.

In the end, the best way to determine whether you should work with someone is to choose a co-founder like you would a spouse. The best type of relationship is the kind where you share a vision and purpose, see yourself building things together, where you know there is give-and-take.

Marriage is a wonderful invention, then again, so is the bicycle repair kit, but it offers us insights and parallels to a successful co-founder relationship. They say don’t marry the person you think you can live with, marry the individual you think you can’t live without. Apply the same to choosing a co-founder.

When you feel like you’ve finally found that with someone, take the leap; don’t bother with those luxuriously creamy envelope for invites, just get on with it.

Entrepreneurial heroes: John McGeoch

Music is the sound of the soul, the direct voice of the outer and inner worlds we inhabit. It triggers a mental reaction, our moods vibrate in response to what we’re listening too. We can set free profound emotions with the intensity with which music affects the nerves and impacts our consciousness, and at the same time uncovering the hidden sound by bringing silence to life.

The music I like is for me, the isolation of being in one’s own head is often the easiest way of losing yourself in the moment or to memories of past, feeling, life, motion and emotion, good and bad. Music that we feel in our marrow, that invites us into some other dimension of time, magnetises us to the present yet contains within itself all that ever was and ever will be.

When I first dropped a needle on the LP Real Life by Magazine back in 1978, I was hooked for life. Whenever I subsequently put it on the turntable, then the CD and now the digital file, I recall the advice given on the back cover of The Rise and Fall of Ziggy Stardust and the Spiders from Mars: To be played at maximum volume – and then I do.

Magazine are one of my favourite bands, not least because of their brilliant guitarist, John McGeoch. Yesterday was the fourteenth anniversary of his death, aged 48. He died in his sleep. His CV encompasses some of the most innovative, influential and respected music with a number of bands of the post-punk era, notably Magazine, Visage, Siouxsie and The Banshees and Public Image Limited.

Testimonies from leading guitarists today go some way to illustrate the extent of his contribution – Radiohead’s Ed O’Brien and Jonny Greenwood cite him as a ‘big influence’, John Frusciante of Red Hot Chili Peppers said that he taught himself to play ‘learning all John McGeoch’s stuff in Magazine and Siouxsie and The Banshees’, whilst Jonny Marr cites him as a favourite.

The late 1970s were a time of re-invention in British popular music, and McGeoch demonstrated a talent for expressive, textured chords and brooding rhythms. Born in Greenock, in 1955, John McGeoch moved to the Manchester area in his teens. In 1975 he attended Manchester Polytechnic, where he completed a degree in fine art.

In April 1977, he answered a small ad placed in a record shop by Howard Devoto who had just left the Buzzcocks after the Spiral Scratch EP and was looking for musicians ‘to play slow music again which would transcend the limitations of three-chord punk’.

Devoto found what he was looking for in McGeoch and the pair formed Magazine, along with Barry Adamson, Bob Dickinson and Martin Jackson. They made their live début at the Electric Circus in Manchester and their eerie appearance and moody sound caught the attention of Virgin Records.

In January 1978, the urgent, menacing debut single Shot By Both Sides made the lower reaches of the Top Forty while Real Life, Magazine’s seminal album début, made the charts. A great foil to Devoto and Formula, McGeoch shone in that setting and Magazine released a string of classic tunes, all co-written by the guitarist.

Howard Devoto created darkly literate songs of icy alienation, violence and psychological nonconformity. McGeoch, using flangers, a chorus effect and a percussive arpeggio technique to achieve his influential new sounds, complimented him perfectly. Nothing, and I do mean nothing else sounded like Magazine did when their remarkable album, Real Life, was released.

For such a young man, the prematurely-balding Devoto’s deeply cynical lyrics betrayed an intense and often-self loathing inner life. As a poet he was particularly adept at portraying insanity, social alienation and toxic anxiety. The music from McGeoch was simultaneously jagged and angular.

McGeoch played on Magazine’s first three albums, Real Life (1978), Secondhand Daylight (1979) and The Correct Use of Soap (1980). Truly, Magazine were one of the most instrumentally formidable bands of their day. McGeoch quit the band in 1980, shortly after the release of the third album, frustrated about their lack of commercial success despite being popular with music critics. Devoto subsequently disbanded Magazine, finding no suitable guitarist to replace McGeoch.

McGeoch moonlighted as a session musician with Bauhaus and Generation X before joining Siouxsie and The Banshees. It was with the arrival of McGeoch in early 1980 that Siouxsie’s imagination appeared to take flight on a series of rich and innovative records that confirmed the band as the progenitors of a genre of mournful, introspective music. It was arguably Siouxsie’s most creative and successful spell. He was easily, without a shadow of a doubt, the most creative guitarist the Banshees ever had.

McGeoch produced dense textures using a combination of signal processing, such as chorus and phasing, and a distinctive combination of picking and using open-stringed drones. When The Cure’s Robert Smith was drafted into The Banshees to fill in for an ill McGeoch, he struggled to play the guitarist’s complex parts.

However, McGeoch suffered a nervous breakdown due to the stresses of touring, and collapsed on stage at a Madrid concert. This marked the end of his time with the band. McGeoch then joined Public Image Ltd in 1986. McGeoch had been an admirer of PiL, particularly John Lydon’s lyrics. McGeoch remained with PiL until they disbanded in 1992, making him the longest-serving member apart from Lydon.

In 1992, McGeoch was invited by Björk’s Icelandic band, the Sugarcubes, to play guitar on their Stick Around for Joy album. After this, he gave up performing and trained as a nurse in 1995, and then lived in America for a decade, returning just before his death.

He was a distinctive player, greatly admired for his use of textures rather than his solos, but able to dream up dramatic riffs and chord changes and blistering fills. The Magazine track Because I’m Frightened and Spellbound by Siouxsie would have to be considered the ultimate performances for McGeoch, as he plays solos through both entire songs. A technical aspect of his style was creating the illusion that no part of his hands were ever moving, including his fingers.

John McGeoch was without doubt one of the greatest post-punk guitar players. The simple and subtle, yet tinkering on the edge type of playing was the perfect foil for Devoto’s lyrics, he inspired Siouxsie to new levels of creativity, and gave shape to Lydon’s angst and anger in his lyrics. I can’t think of another guitarist from that era who was as innovative as John McGeoch, the Mozart of his generation. So I keep listening to him

As an artist, how do you keep innovating and pushing the ambition? What can we learn from John McGeoch in terms of his thinking and attitude from an entrepreneurial perspective? Here are some of the best values of entrepreneurship and disruptive innovation that I see from him that should spark a startup.

Passion – do it because you love it John McGeoch wasn’t thinking of anything else other than personal fulfilment when he started playing guitar. He did it simply because he loved it, he had talent and gave it a go. Musicians often say they play for themselves first and that it is a choice by which they can earn a living. This is a basic principle that is common to successful entrepreneurs everywhere.

Open mindedness McGeoch’s work is drawn from a diverse range of influences. Their uniqueness is the product of constant change and combining existing elements in new ways, producing something entirely their own, with a prowess for throwing stuff together randomly to discover new combinations and possibilities. This ability to create genuine uniqueness is a key trait of an entrepreneur.

Restlessness & reinvention McGeoch never succumbed to the stick-to-a-formula mantra, each period in a new band he emerged with something completely new and unexpected. Not all of his experiments worked, but this willingness to try out new ideas, knowing that not all will triumph, is a trait every entrepreneur needs.

A clear dividing line between important work and busywork McGeoch wasn’t really productive, although his time with the Banshees saw him at his most creative. That to me says everything about busy work, and important work. McGeoch always sounded like someone in constant motion, each new release an agitation from the previous release, never resting on his laurels.

Stand for something, and be true to your purpose McGeoch was strong minded and did whatever he wanted but had a clear sense of purpose. He was shaped by deeply held personal and passionate values and remained true to them, quickly finding out that there are millions of people who shared those same values. Like a musician, put a tone of voice into your startup and stamp it with your personality.

Being different matters more than being better McGeoch became successful because he was different. He grabbed our attention. Rock stars have proven for years that being different – and getting noticed because of it – is more important than quality of music. Be different, stand out from the crowd. When opportunities don’t present themselves in a timely manner take calculated risks.

Don’t copy other people’s work Even if it’s just a chord sequence or a riff, take it and make something else. Just copying something is no good, unless you want to just be in a tribute band. It’s vital to keep playing around and pushing yourself in business, create your own product. Don’t be afraid to build a business or revenue model that plays to your strengths, even if it’s non-conventional.

Be your own image If you plan on getting noticed, establishing a brand promise, and creating an image is vital. John Pasche designed the ‘tongue and lips’ logo for The Rolling Stones in 1971, originally reproduced on the Sticky Fingers album. It is one of the first and most successful cases of rock brand marketing. McGeoch had his own style and image too – what’s yours?

Playing it safe gets you nowhere If you don’t take risks you’ll never excel. Playing it safe all the time becomes the most dangerous move of all. Deviate from routines. Rote activity doesn’t lead to the path of innovation or disruptive technology. McGeoch never played it safe.

His enduring appeal comes from the combination of swagger and delightful tunes, and memories of an on-stage presence. His tunes are always fine soundtracks to my life’s more dramatic moments locking together and producing some wonderful noise.

McGeoch teaches us that you have to be authentically yourself, to find what’s right for you, leading from your own place of uniqueness. Trying to be what others want you to be will lead ultimately to failure. You have to find what you do best, and find what is best about you.

The formula for his endurance is like a restless entrepreneur, never resting on their laurels, they retain the mix of uplifting, anthemic melodies with craftily serious lyrics in a business context. McGeoch was a talented, spirited man, driven, passionate and more than willing to rebel against the norm. And that’s what every entrepreneur does too.

You start to feel old when your heroes begin to die, albeit there may be some contradiction involved in speaking of heroism. It’s a term freighted with overtones of nobility and authority. But for me, John McGeoch was an inspiration as any entrepreneur with his spirit of innovation and creativity.

Entrepreneurial learning journey: building your startup team

Lean startup thinking is based around the concept of a MVP as a means of sharing your product vision with your target customers, containing sufficient value to attract early adopters. Asking the right questions of your MVP is key, it’s as much a process as a pilot version of your product, and guides you broadly around your business model assumptions, many based on your hunches.

Testing all aspects of the business model, not just the product features, is vital, and this applies to developing your ‘Minimum Viable Team’ (‘MVT’)?  As Steve Blank states, a startup is a temporary organisation used to search for a repeatable and scalable business model. Having a talented team is an essential ingredient to startup success and scaling, as any aspect of the business model.

Most startup founders work on the basis that they will find the folks they need to scale their business either by word of mouth within the startup community, or within their own network, when they need them.  Alas experience tell us those serendipitous moments don’t always occur. The route of chance isn’t always successful, or even best financially in the longer term.

So what are the key considerations in your startup team building strategy, when seeking to create a key part of your business growth engine? Here are some thoughts.

1. Hiring Philosophy

What is the vision for your MVT in terms of its purpose, values and principles held as underlying attributes that will make a difference?

Rockstars gives leverage You’re looking for rockstar starters who can create 10x more leverage – ‘moonshot thinking’ –  than an average employee. The effectiveness gap between employees can be multiple orders of magnitude. In startup hiring there are few shades of grey, go for those that can add rocket fuel to your momentum.

Culture-contributors are better than culture-fitters A startup culture is part of the business model and customer experience. Just like we want people to contribute new skills and ideas, we want people to contribute new culture. Hiring culture-fitters does not make your culture better. The founding team will soon be outnumbered by new hires. They will decide your future culture, not you.

Hire for potential & learning not experience & experts Potential and experience are not mutually exclusive, but potential is far more valuable. Everyone usually hires for experience, but for a startup my view is to hire those whose potential will explode when they join you, pulling you along with them. Interviewing for experience is easy because you are discovering what someone has done. Interviewing for potential is hard because you are predicting what they will do. How do you do this? They get excited talking about what they could do rather than what they have done.

Static expertise quickly becomes obsolete. To survive and grow we must be a learning organisation. The clearest signal of a learner is curiosity. Curious people, by definition, love to learn, while experts talk about what they know.

Experimentation is a crucial mechanism for driving breakthroughs in any startup. If you want to create a successful, hyper-growth company, you’ve got to focus on empowering your teams to rapidly experiment.

Hire for difference not similarity There is a natural bias to hire people ‘like us’. Fight this bias. Hiring similar means we value repeatability and efficiency over creativity and leverage. Hiring different brings new skills, paradigms, and ideas, which are the sparks and catalyst of leverage. You will naturally want to hire people you connect with. Fight your instincts.. Don’t default to ‘she’s like one of us’.

2. Focus on Personality

Simply, what sort of people did we want in our team alongside us on our startup journey? I’ve developed this simple framework, a combination of attitudes, character and behaviours, to check for ‘togetherness’. They are:

·     Openness: We look for free spirits, open-minded folk who will enjoy the startup adventure and new experiences – the highs and the lows.

·     Conscientiousness: A startup can be a bit chaotic and disruptive, so we look for people who are organised and dependable.

·     Extraversion: We look for energisers, live-wires who tend to be more sociable and keep noise and energy levels up – not office jesters, but people who can keep the lights burning

·     Agreeableness: High scorers for this trait are often trusting, helpful and compassionate. Empathy is an invaluable trait to have when building your startup to balance the searing ambition.

·     Emotional stability: People with high scores for this trait are usually confident and don’t tend to worry often.

We are social creatures, and a deeper understanding of who we (and others) are can provide a valuable tool for working with others. You can build a more effective MVT using personality traits as part of your hiring decision.

In terms of the attitudes and behaviours we sought, these maybe summarised as follows:

They would much rather act than deliberate Generally, startup business plans are less useful than the planning process, as things change so quickly. Before the plan shoots out of the printer, things have already changed and ‘the plan’ is already outdated. Stuff happens.

Very few startups resemble their original plan, and that’s a good thing, because it means they’re pivoted and reshaping their businesses to meet the needs of their customers. Great startup employees are the same way.

They have an appetite to get out of the building Great start up people obsess over the customer, they understand calories are best spent making a real difference for customers. Every business has finite resources. The key is to spend as much of those resources as possible on things that matter to the customers. Fretting over trivial things doesn’t help anyone. It’s just a waste of energy.

They don’t see money as the solution to every problem One of the key lessons founders learn in a startup is resourcefulness. How do you take limited resources and turn them into something remarkable? That’s also true of the best startup employees. They’re remarkably resourceful. They’re constantly looking for creative ways to make the most of the resources they have.

3. The concept of ‘Tour of Duty’

Start-ups succeed in large part because their MVT is highly adaptable, motivated to go the extra mile and create something different. However, entrepreneurial employees can be restless, searching for new, high-learning opportunities, and other startups are always looking to poach them.

However, if you think all your MVT will give you lifetime loyalty, think again. Sooner or later, most employees will pivot into a new opportunity. When Reid Hoffman founded LinkedIn, he set the initial employee engagement as a four-year ‘tour of duty’, with a discussion at two years. If an employee moved the needle on the business, the company would help advance her career. Ideally this would entail another tour of duty at the company, but it could also mean a position elsewhere.

A tour of duty has a defined end, but that doesn’t have to be the end of an employee’s tenure. One successful tour is likely to lead to another. Each strengthens the bonds of trust and mutual benefit. If an employee wants change, an appealing new tour of duty can provide it within your company. This is a more effective retention strategy than appealing to vague notions of loyalty and establishes a real zone of trust.

The tour-of-duty approach for a startup works like this. The business hires an employee who strives to produce tangible achievements and who is an important advocate and resource in the MVT. A tour-of-duty is established, either two or four years. Why two to four years? That time period seems to have universal appeal. In the software business, it syncs with a typical product development cycle, allowing an employee to see a major project through. At the end of this ‘tour’, the business could pivot to a new direction, and thus the MVT needs to pivot too.

Properly implemented, the tour-of-duty approach can boost both recruiting and retention for a startup. The key is that it gives both sides a clear basis for working together. Both sides agree in advance on the purpose of the relationship, the expected benefits for each, and potentially a planned end.

The problem with most employee retention conversations is that they have a fuzzy goal (retain ‘good’ employees) and a fuzzy time frame (indefinitely). The company is asking an employee to commit to it but makes no commitment in return. In contrast, a tour of duty serves as a personalised retention plan that gives a valued employee concrete, compelling reasons to finish her tour and that establishes a clear time frame for discussing the future of the relationship. Personalised tours produce even positive feelings.

Thus when working with MVT employees, establish explicit terms of their tours of duty, developing firm but time-limited mutual commitments with focused goals and clear expectations. Ask, ‘in this relationship, how will both parties benefit and progress in the lifetime of the MVT?’

4. Lessons from Google

A company’s culture and core values are the bedrock of innovation and effective teams, and Google has established a suite of practices for you to use when building your own effective startup team.

Back in 2013, Google conducted a rigorous analysis deemed Project Aristotle to identify what underlying factors led to the most effective Google teams. Over 200 interviews were conducted across +180 active teams over the course of the two-year study. More than 250 attributes were identified that contributed to both success and failure.

Their hypothesis was that they would find the perfect mix of individual traits and skills necessary for a stellar team. Turns out they were dead wrong.

The researchers found that what really mattered was less about who is on the team, and more about how the team worked together. Here are the top five keys to an effective Google team, in order of importance:

Psychological safety Psychological safety refers to an individual’s perception of the consequences of taking a risk or a belief that a team is safe for risk-taking. In a team with high psychological safety, teammates feel safe to take risks around their team members. They feel confident that no one on the team will embarrass or punish anyone else for admitting a mistake, asking a question or offering a new idea.

Dependability On dependable teams, members reliably complete quality work on time (vs. the opposite – shirking responsibilities). Perfection is not optional. The enemy of great is good. Always strive for the best possible product, service or experience.

In a decentralised team working remotely, this core value is extremely important. Always trust your teammates are doing their best work with good intentions. Don’t jump to conclusions or judgments.

Structure and clarity An individual’s understanding of job expectations, the process for fulfilling these expectations, and the consequences of one’s performance are important for team effectiveness. Goals can be set at the individual or group level, and must be specific, challenging and attainable. Google often uses Objectives and Key Results (OKRs) to help set and communicate short- and long-term goals.

Meaning Finding a sense of purpose in either the work itself or the output is important for team effectiveness. The meaning of work is personal and can vary – financial security, supporting family, helping the team succeed, or self-expression for each individual, for example. The self-directed employee takes responsibility for her own decisions and actions. Having a team that can constantly say “We can figure it out” creates a competitive edge.

Impact The results of one’s work, the subjective judgment that your work is making a difference, is important. Seeing that one’s work is contributing to the organisation’s goals can help reveal impact. The world’s most precious resource is the passionate and persistent human mind. Get your team to embrace long-term thinking.

Every member of the team needs to embody a growth mindset: the belief that they can learn more or become smarter if they work hard and persevere.

That media fervour for the unicorn startups and their celebrity founders can suggest that it only takes the one or two entrepreneurs to build exceptional companies on their own, or with a co-founder. I think that’s rarely the case.

Henry Ford once said, Why is it that every time I ask for a pair of hands, they come with a mind attached? In a startup, minds dramatically amplify the value of hands and they become even more powerful when they’re able to engage with like-minded, stimulated other folk in the team.

The first four minutes: the growth mindset of entrepreneurs

It’s 63 years ago – 6 May 1954 – that Roger Bannister ran the first sub-four-minute mile at Iffley Road Track in Oxford. Inspired by Sydney Wooderson, who set the British record set at 4 minutes 4.2 seconds on 9 September 1945, Bannister started his running career in the autumn of 1946.

He had never previously worn running spikes or run on a track, but he showed promise in running a mile in 1947 in 4 minutes 24.6 seconds on only three weekly half-hour training sessions. He was selected as an Olympic possible in 1948 but declined as he felt he was not ready to compete.

Over the next few years, improving but chastened by this lack of success, Bannister started to train more seriously. In 1951, Bannister ran 4 minutes 8.3 seconds, then won a mile race on 14 July in 4 minutes 7.8 seconds at the AAA Championships before 47,000 people.

After failure at the 1952 Olympics, Bannister set himself a new goal: to be the first man to run a mile in under four minutes.  On 2 May 1953, he ran 4 minutes 3.6 seconds, shattering Wooderson’s 1945 standard. This race made me realise that the four-minute mile was not out of reach, said Bannister.

Other runners were making attempts at the four-minute barrier and coming close, notably American Wes Santee and Australian John Landy, who ran 4 minutes 2.0 seconds. Bannister had been following Landy’s attempts and was certain his Australian rival would succeed. Bannister knew he had to make his bid.

6 May 1954. Aged 25, Bannister had begun his day at a hospital in London as a junior doctor, where he sharpened his racing spikes and rubbed graphite on them so they would not pick up too much cinder ash. He took a mid-morning train from Paddington to Oxford, nervous about the rainy, windy conditions that afternoon

With winds up to 25mph, Bannister said that he favoured not running, and would try again at another meet. Just before the start, he looked across at a church in the distance and noticed the flag of St George was moving but starting to slow. The wind died. The conditions were far from perfect, but Bannister knew at least one obstacle had been eased. As the run began, the conditions did worsen, with a crosswind growing, but by then Bannister was in his stride.

The race went off as scheduled at 6pm with Chris Chataway and Chris Brasher providing the pacing. Brasher led for the first two laps, Bannister stayed close and then as the race reached lap three, Chataway came through to maintain the pace. The time at three-quarters was 3 minutes 0.5 seconds but Bannister knew he had to bide his time.

Bannister began his last lap, needing to run it in 59 seconds. Chataway continued to lead around the front turn until Bannister began his finishing kick with about 275 yards to go (just over a half-lap). He flew past Chataway onto the last straight and threw everything at the challenge ahead, his tall, powerful style driving him on. Could he do it? He knew this was it. The world stood still. It was just him and the track. He was being carried by history.

The announcement came. The announcer excited the crowd by delaying the proclamation of the time Bannister ran as long as possible:

Ladies and gentlemen, here is the result of event nine, the one mile: first, number forty one, R. G. Bannister, Amateur Athletic Association and formerly of Exeter and Merton Colleges, Oxford, with a time which is a new meeting and track record, and which – subject to ratification – will be a new English Native, British National, All-Comers, European, British Empire and World Record. The time was three…

The roar of the crowd drowned out the rest of the announcement.

Bannister’s time was 3 minutes 59.4 seconds. He’d done it. He’d broken the world record. He’d done what so many believed was impossible. But Bannister’s record only lasted 46 days, Landy beat his time on 21 June in Turku, Finland, with a time of 3 minutes 57.9 seconds. Bannister went on to win the 1,500m at the 1954 European Championships with a record in a time of 3 minutes 43.8 seconds. He then retired from athletics to concentrate on his work as a junior doctor and to pursue a career in neurology.

It was doubted that a man could break the four-minute barrier for the mile. Experts said for years that the human body was simply not capable of a 4-minute mile. It wasn’t just dangerous; it was impossible. Perhaps the human body had reached its limit.

As part of his training, Bannister relentlessly visualised the achievement in order to create a sense of certainty in his mind and body. It took a sense of extreme certainty for Bannister to do what was considered un-doable. He alone was able to create that certainty in himself without seeing any proof that it could be done.

Once he crashed through that barrier, the rest of the world saw that it was possible, and the previous record that had stood for nine years was broken routinely – 24 people broke the 4-minute mark within a year of Bannister.

Once Bannister proved that once you stop believing something is impossible, it becomes possible. He decided to change things. He refused to settle. When no one believed his goals were possible. When his competitors were hot on his heels, he picked up his pace. He took things into his own hands, and decided to tell a better story. And in doing so – he did the impossible.

Bannister undoubtedly had a growth mindset, now an established learning theory from the work of Carol Dweck whose research-based model showed the impact of mindsets. She unpacked how a person’s mindset sets the stage for either performance goals or learning goals.

A person with a performance goal might be worried about looking smart all the time, and avoid challenging work. On the other hand, a person with a learning goal will pursue interesting and challenging tasks in order to learn more.

Dweck became interested in people’s attitudes about failure. Dweck noticed that some people rebounded while others seemed devastated by even the smallest setbacks. After studying the behaviour of thousands, Dweck coined the terms ‘fixed mindset’ and ‘growth mindset’ to describe the underlying beliefs people have about learning and ability. When people believe they can get improve, they understand that effort makes them stronger. Therefore they put in extra time and effort, and that leads to higher achievement.

Bannister’s achievements support Dweck’s model of the fixed versus growth mindset shows how one’s beliefs about your own underlying potential impacts actual achievement. At the same time, neuroscience discoveries were gaining traction, researchers began to understand the link between mindsets and achievement. It turns out, if you believe your brain can grow, you behave differently.

Individuals who believe their talents can be developed (through hard work, good strategies, and input from others) have a growth mindset. They tend to achieve more than those with a more fixed mindset (those who believe their talents are innate gifts). This is because they worry less about looking smart and they put more energy into learning.

What’s the best way to get started with your growth mindset development? One way is to identify where you may have fixed mindset tendencies so that you can work to become more growth minded. We all live upon a continuum, and consistent self-assessment helps us become the person we want to be.

For some people, failure is the end of the world, but for others, it’s this exciting new opportunity. Instead of focusing on output, which can be seen as emblematic of a fixed mindset, think about the effort needed to improve. Thus the takeaway is it’s not the most talented, but those willing to keep going and overcome barriers that enjoy more success. Hard work brings results.

The boom and bust nature of startups often results in entrepreneurs being viewed simplistically as successes or failures based on the outcome of their startups. However, the real key to success is mindset, which allows entrepreneurship to be viewed as a journey rather than a distinct outcome.

Fixed mindsets attribute failure to a lack of innate ability, get beaten down by it and become much more risk averse and self-conscious. On the other hand, entrepreneurs with growth mindsets are better suited for the startup rollercoaster ride, as they learn from their experiences and don’t attribute failure to a fixed trait.

This leads them to be able to analyse problems more deeply and bounce back more effectively. In a growth mindset, there is a lot of truth in the saying, what doesn’t kill you makes you stronger. It also happens to make you smarter.

Perennially innovative companies like Tesla, Apple and Amazon are distinguished by a learning culture that fosters curiosity, innovation and encourages risk taking. They realise that learning generates its own unpredictable rewards, rewards you will miss if you aim only at specific, measurable goals and disregard the roles of effort.

As a growth-mindset entrepreneur, your success is an incremental aggregate of many little ideas. Every new positive or negative data point should raise more questions. Why did customers like this product so much? Was this luck? The growth mindset engenders continuous innovation and improvement even in the face of success.

So, how do you cultivate a growth mindset?

1. Don’t be defined by what you already know rather identify with your current learning, have a learning path defined, have an appetite to learn and enjoy the learning process itself. Embrace the iterations of steps backward as much as the steps forward.

2. Enjoy lessons learned for what they are don’t focus just on the outcomes, no matter how significant they maybe. Instead, recognise milestones by learning from the effort it took to achieve them. Success and failure are both by-products of the learning journey and offer valuable lessons.

3. Don’t be self-defining fixed-mindset entrepreneurs are self-defined by their results. Growth-mindset entrepreneurs are never self-defining, rather they embrace the journey and trust results will follow. Growth mindset entrepreneurs show long-term resilience, repeated innovation and the necessary drive for future enduring success.

4. Hear the voice of a growth mindset entrepreneur in your head – challenges are exciting rather than threatening, here’s a chance to grow, think the growth potential in following this opportunity, even if it’s out of your comfort zone – just like the example of Bannister.

5. Focus on the process you can learn from the processes and improve for the next time. Don’t let yourself sink into fixed mindset thinking, worrying about a challenge, a setback, or a bad outcome, focus on how to improve the process so next time out the outcome may be different.

Many successful people, including Einstein and Edison, said they learned more from their failures than from their successes, many of their breakthroughs came after a number of failures that provided learning experiences.

The more we are organised around stretching and growing, and being comfortable with confusion and setbacks, the more we are going to create growth mindsets.

Your future only exists in your own mind. To own your future, you must always be taking steps to grow and make the future bigger than your past, always looking ahead at what’s possible. Having a bigger future is not about how much time you have left, it’s about what you do with that time.

Always maximise the value of your past as you move forward, and know that your past won’t become useful until you’re committed to having a future that’s even bigger. Like Bannister, I always expect the life ahead of me to be much bigger, more exciting, more motivating, more engaging, and more fascinating than anything I’ve achieved before.

Each of us needs to believe that within us is a sub-four-minute mile performance, where we cast aside all self-doubt  of the little voices in our head and refute the naysayers.

The first sub-four minute mile could have belonged to someone else, but Bannister wanted it more, he had a growth mindset. Three minutes and 59.4 seconds that changed history. Few other sporting moments have been crystallised in a nation’s memory in the same way as the first sub-four-minute mile. It’s still special too – more people have climbed Everest than run a sub-four-minute mile.

Millions saw the apple fall, only Newton asked ‘why?’

Martin Zwilling writes an inspirational blog on a variety of issues impacting startups – here’s the link http://blog.startupprofessionals.com/ – and recently asked in his blog Do you have the intelligence to be an entrepreneur?

This set me thinking about some of the great innovators and their own entrepreneurship credentials, and how current startups mavericks like Elon Musk compare to those that have gone before.

As Zwilling states, many people feel that they just aren’t smart enough to be an entrepreneur, yet there seems to be no convincing evidence that a high IQ is a prerequisite for being an entrepreneur. We all know of successful businesses started by first-time entrepreneurs who dropped out of school, and according to many ‘street smarts’ (experience) tends to trump ‘book smarts’ (intelligence) every time.

Another perspective is that there are in fact multiple types of intelligence, and we all have strengths and weaknesses along all of these scales. It appears that most successful entrepreneurs are those with the broadest range of skills and experiences, while a depth in any given discipline is not so important.

Zwilling identified the eight most commonly recognised intelligences that cover the potential of most humans, prioritised by applicability to the entrepreneurial role:

Word-smarts (linguistic intelligence) People with a high linguistic intelligence display a high facility for word usage and languages. They are typically good at communicating ideas. Good entrepreneurs need these skills to lead a team, sell ideas to customers and investors and write strategies.

People-smarts (interpersonal intelligence) These attributes are the embodiment of social skills. Entrepreneurs with high social skills interact more effectively, they are able to sense the feelings, motivations and temperaments of others, to enlist their support and negotiate effectively.

Self-smarts (intra-personal intelligence) Intra-personal intelligence is the capacity to understand your own strengths, weaknesses and motivations, and to capitalise on these insights in planning and strategy.

Number-smarts (logical-reasoning intelligence) Logical-mathematical intelligence is the ability to calculate, quantify and think logically. Entrepreneurs use strengths in this area to balance their passion for a specific solution and to develop the specific steps and financial resources required for building, rolling out and scaling the business to success.

Nature-smarts (naturalist intelligence) This sort of environmental and cultural insight is rooted in a sensitive, ethical and holistic understanding of the world and its complexities. Good entrepreneurs use this to see new markets first, predict trends and devise effective marketing campaigns and demographics for focus.

Picture-smarts (spatial intelligence) Spatial intelligence is the ability to think in three dimensions and the ability to visualise with the mind’s eye. Core capacities include mental imagery, spatial reasoning and an active imagination. It’s easy to see how this is important for entrepreneurs in solution design and product branding.

Body-smarts (kinaesthetic intelligence) This intelligence involves a sense of timing and the perfection of skills through mind-body coordination. Business entrepreneurs who good at building innovative new products are especially strong in this area. Strengths here also lead to leadership presence.

Music-smarts (musical intelligence) Musical intelligence is the capacity to discern pitch, rhythm, timbre and tone. In addition to being key to any business directly or indirectly related to music, this skill helps entrepreneurs to be better listeners. Music-smart people also tend to be logical.

An interesting analysis by Zwilling, which profile can you identify with? Where does your intelligence manifest itself?

Reflecting on my own strengths, then I can identify with the ‘number-smarts’ detail above. Indeed, one of my clients last week acclaimed me as a genius with numbers, as I’d prepared a complex but user friendly financial model that gave her a financial map of her business model canvas. I smiled and replied that the accolade of ‘a genius with numbers’ belonged to one man – Isaac Newton – who had always been someone I revered. Newton’s thinking was undoubtedly the mark of a hugely intelligent genius, in the language of mathematics.

It has been said that the main difference between a genius and an ordinary man, is only that a genius knows how to think, rather than what to think. Often the word genius is accompanied by words like creativity, or maybe it is their IQ, or some combination of the two that sets them apart from the rest.

Maybe there is more. Geniuses look for entirely new concepts and believe that anything is possible – traits of entrepreneurs. It is this belief that leads them to approach problems in different ways – often they will see connections and patterns where the majority of us don’t – again an underlying characteristic of entrepreneurs.

So what makes a genius? Let’s look at Isaac Newton to see if we can identify some traits, and how we can learn from them to enhance our own entrepreneurial thinking styles.

Isaac Newton experienced a difficult and lonely childhood. His father, a farmer, died three months before he was born on Christmas Day 1642 at Woolsthorpe in Lincolnshire, and when he was two years old, his mother, Hannah, moved away to remarry, leaving Isaac to be brought up by his grandmother for eight years.

He was a thinker from a young age, making a working windmill driven by mice running around a treadmill aged eight. After Grammar School, his prodigious academic talent was recognised and in 1661 he went to Trinity College Cambridge.

Having dabbled in the study of alchemy, combining ‘the magical and the mechanical’, the first sign of his unique thinking style, by the end of 1666 he became the first to describe techniques for differential calculus, using his own definitions of ‘fluxions’. It was during this period too, when prompted by a falling apple, he compared the attraction exerted by the Earth at its surface with that required to keep the Moon in orbit, and the concept of ‘the universal law of gravity’ was born.

Not content with this, Newton then went on to conduct a series of brilliant experiments and he was the first to discover the true properties of white light, that it was composed of more basic rays, each of which had its own colour – the spectrum.

As a result of his endeavours, Newton was made a Fellow of Trinity College in 1667, but his academic career was only just beginning. Over the next few years he refined his mathematical research. Newton’s published his masterwork Philosophiae naturalis principia mathematica in 1687, known as Principia. In this work, Newton stated the three universal laws of motion.

Principia is undoubtedly one of the books that changed the world. However, it’s a modest volume, about 6 by 8 inches, weighs about three pounds and consists of 512 pages written in Latin filled with mathematical problems, calculations and diagrams. Newton’s work was quickly recognised as that of a genius, and in 1703 he received the ultimate accolade in British science by being elected president of the Royal Society. He was knighted two years later.

Newton was a difficult man, working in solitude, prone to depression and often involved in bitter arguments with other scientists, but by the early 1700s he was the dominant figure in British and European science. He died on 31 March 1727 and was buried in Westminster Abbey.

Newton towered intellectually above his contemporaries as no other since – Einstein had his picture on his office wall – writing his own epic of scientific discoveries and contribution to mathematical thinking. Newton himself had been rather more modest of his own achievements, famously writing in a letter to Robert Hooke in February 1676: If I have seen further it is by standing on the shoulders of giants.

Newton himself often told the story that he was inspired to formulate his theory of gravitation by watching the fall of an apple from a tree. Although he did not arrive at his theory of gravity in any single moment, watching the falling apple was his eureka moment – though not the cartoon version that the apple actually hit Newton’s head. It’s an enduring image, and following a period working in orchards in Oregon during his vagabond years, Steve Jobs named his company ‘Apple’ and the original logo was that of Newton sat under an apple tree.

So, let’s look at Newton’s genius, his ability to come up with ideas, and generate alternatives and conjectures like a modern day entrepreneur. Why are so many of their ideas so rich and varied? How do they produce the variations that lead to the original and novel? By studying the notebooks, correspondence, conversations and ideas of Newton, researchers have teased out particular common thinking strategies and styles of thought that enabled him to generate a prodigious variety of novel and original ideas. The following are thumbnail descriptions of strategies that are perceived in Newton’s thinking.

Newton looked at problems in many different ways. Genius often comes from finding a new perspective that no one else has spotted. Newton believed that to find a solution to a problem, you begin by learning how to restructure it in many different ways. With each move, his understanding would deepen and he would begin to understand the essence of the problem.

Newton used pictures to share his thinking. The explosion of thinking in the Newton was intimately tied to the recording and conveying of a vast knowledge in drawings, graphs and diagrams, also seen in the renowned diagrams of da Vinci and Galileo.

Newton was productive. A distinguishing characteristic of genius is immense productivity. Thomas Edison held 1,093 patents. He guaranteed productivity by giving himself idea quotas. His own personal quota was one minor invention every 10 days and a major invention every six months. Newton too was a prodigiously novel and disruptive thinker. In his yearning for Theory of Everything he sometimes worked 18 or 20 hours a day. This gargantuan capacity for work he continued for a quarter of a century when in his prime.

Newton made novel connections. Like a child playing with Lego, a genius is constantly combining and recombining ideas, images and thoughts into different combinations in their conscious and subconscious minds. Newton’s falling apple moment enabled him to combine differing concepts in a novel way, and as a result he was able to look at the same world as everyone else and see something different. Leonardo da Vinci forced a relationship between the sound of a bell and a stone hitting water. This enabled him to make the connection that sound travels in waves.

Newton thought in contradictions. Geniuses think different thoughts because they tolerate ambivalence between opposites or two incompatible subjects. Because Newton could tolerate juxtapositions and variations, he was open to novel and ambiguous stimuli, and could see the hidden relationships that led to his spontaneous breakthroughs.

Newton made bets. Newton’s process was trial and error, a journey down many dead-ends that eventually gave him a solution. It is not luck, but creative insight of the highest order. Newton’s diaries show he often noted things as ‘interesting’ and wondered if it had potential. This curiosity of an unrestrained search for ideas led to his hypotheses or bets, which he would explore and ultimately prove.

Recognising these thinking strategies of Newton and applying them will make you more entrepreneurial for sure. Newton ‘knew how to think’, so adopt some of his ways to improve your own thinking – it will work.

Embrace the thinking of Newton in your every day approach to work and you’ll unearth new ideas to take your business forward. Give yourself 10% of the working week – that’s just one afternoon or morning – to thinking.

Millions saw the apple fall, only Newton asked the question. Newton made the most telling remark on the process of thought that I have ever encountered. It is also the simplest. When asked how he had come upon his theory of gravity, he said, By thinking on it continuously.

Entrepreneurial learning journey: The Ramones, New York

Hey, Ho, Let’s Go! My entrepreneurial learning journey steps into New York, and that can only mean one thing – the breakthrough music innovation and cultural impact of The Ramones. The Ramones launched the grassroots punk-rock movement in New York with their eponymous 1976 debut album. Their short, combustible songs marked them down as a loud-fast energetic sit-up-and-take-notice band, setting up a new genre, which changed the music industry forever.

Some may think that being a musician doesn’t involve much entrepreneurial flair, however if you think about it, making commercial music is something that requires creativity, motivation, collaboration and determination – four ingredients that are also key to being an innovating entrepreneur. In the UK, Tony Wilson and Factory Records were game changers as founders of the Indie music scene.

Walk down East 2nd Street off of The Bowery in Downtown New York, and you’ll pass by Albert’s Garden, a small community garden midway up the block. If you happen to visit on a day when the gates are open, head inside and you’ll find a beautiful little East Side village oasis maintained by local volunteers. But for something particularly special, make a left when you enter and walk down the path to its end.

At first glance, the blank grey concreted brick wall in front of you might seem entirely unremarkable when compared with the beauty of the surroundings. But had you been here on a particular day in early 1976 you would have seen four long-haired punks in leather jackets and ripped jeans posing for their album cover that would forever change rock’n’roll.

Guitarist Johnny strummed rapid-fire bar-chords, Dee Dee introduced songs with a raw-throated countdown (‘1-2-3-4’) that became a group trademark, as he pounded a relentless stream of eighth notes on the bass. Drummer Tommy anchored the frantic beat with superhuman energy. Lead singer Joey’s vocals were delivered in a deadpan, unique style. Dark glasses, leather jackets and long dark hair. The iconic, unified collective identity that The Ramones worked hard to make appear effortless set them apart.

The Ramones formed in 1974 after the foursome left high school. Their name and pseudonym came via Paul McCartney, who had briefly called himself Paul Ramon back when the Beatles were the Silver Beatles.

The Ramones got back to basics, simple, speedy, loud, stripped-down rock and roll tunes. Voice, guitar, bass, drums. No makeup, no egos, no light shows, no nonsense. The sound influenced thousands of bands, and proved so durable that The Ramones stuck to it for their entire career.

The Ramones performed 2,263 concerts, their final show was in Los Angeles on August 6, 1996. They released 21 studio, live and compilation albums over a 20-year period. The first four are their acknowledged classics – Ramones (1976), Leave Home (1977), Rocket to Russia (1977), Road to Ruin (1978) – inciting a revolution in music and lifestyle. Yet they never had a Top Forty hit, which seems an ironic pity since their songs possessed a hypnotic and energetic sound.

On 20 July 1999, The Ramones were at the Virgin Megastore in New York City for an autograph signing. This was the last occasion on which the original four members of the group appeared together. By 2014, all were dead.

I first started listening to The Ramones at 15 years old, and I swear there was simply nothing – nothing – as much fun as being at a Ramones show, where the entire room literally pulsated with energy as everyone pushed and shoved and careered around like dervishes into each other. Each track was under three minutes of pure energy, dubious lyrics and pulsating sound. Ramones concerts in Manchester as a teenager – they were the most fun you could have with your clothes on.

With just four chords and one manic tempo, The Ramones blasted open mid-’70s music, reanimating the listening experience. Their genius was to frame the short, simple aesthetic of punk in terms of attitude, sound and art. Their visual imagery complemented the themes of their music and performance. This fashion emphasised minimalism, which was a powerful influence on the New York punk scene of the 1970s and reflected the band’s short, simple songs. Ramones music has a Pavlovian effect on me – the song starts, and the world blurs around the sound. Still does.

Walking around New York in 2015, there were folks of all ages in the classic Ramones iconic tee-shirts, their wardrobes being as robust and as heritage as mine. There were numerous people in Albert’s Garden on Thursday making the connection. So whilst you sing ‘Blitzkreig Bop’ outloud and look back over your shoulder for your youth, here are some great lessons for startup life I’ve taken from The Ramones.

A DIY ethic drives innovation Punks were revered for their Do-It-Yourself abilities. Before today’s fashion of clothing sold already ripped on purpose, there were punks ripping their clothing… just because. The Ramones made it up as they went along, like a startup they had to find their market and determine product-market fit, working out where their audience was.

Try, try, try – and see what happens. Just like The Ramones, experiment. The Ramones gigged virtually every night for their first two years – they put themselves out there, into the market. Get out of the building and put your product into the market, strive for low cost, low risk accelerated learning. Don’t worry about failing – the goal is to learn what the market wants.

Attitude and conviction trump talent The Ramones’ ‘product’ was, in reality, very simple, raw and basic in the extreme, but Joey Ramone is one of the most iconic front men ever, yet he couldn’t carry a tune in a bucket.

Talent is awesome, but punk proved it’s often overemphasised. Success is achieved by a host of variables, none more so that sheer-bloodied single-mindedness to get up there and make it happen. Startups need to remember this when launching their product – talent rocks, but attitude is king. It’s about conviction and determination to make it happen.

Belief. Punk took on an established industry with major labels in control and broke the rules with their disruptive thinking. In doing so, they changed the dynamics and disrupted an established market. They had enduring success and created a lasting legacy, albeit measured in cultural terms, if not financial.

The Ramones made the mind shift change that is needed to begin thinking and behaving like a startup and ask themselves the questions that an entrepreneur must ask: What is the value of the work that I do or the product I make? What problem does my music solve for my target audience? In the case of music, it’s a gap in the market for a genre, a sound, an image.

Authenticity inspires customers The Ramones started with bold artistic expression of their own, truly authentic, not seeking to copy or replicate others. They inspired a revolution. The startup leadership lesson here is one of my favourites: you can be confident and competent all you want, but if you’re not accepted as real, and having a point of difference in what you offer customer, you won’t inspire a following. People like real.

The brand is more important than individuals. Only two members of the Ramones (Joey and Johnny) lasted from inception to dissolution of the band, and yet their popularity never wavered.  The ‘Ramones’ brand mattered more than the individual members. Similarly for a startup, the founding team will evolve, you make your first hires and scale with new folks with the required skills. Work hard to build your culture and your brand so that no matter who’s representing it, it remains true to your founding vision.

Build demand. Anticipation builds demand. Bands understand this, trailing publicity for their next album release or Tour dates. For startups, building anticipation during your product launch and create customer demand is key. People don’t know you’ve been working on your project for months. You need to get them excited, but you can’t build all that excitement on launch day. A product launch should never be a surprise – think about Apple. Sure, they’re secretive, but they’re really good at building demand before their launch day.

Bootstrapping. Indie bands are just like a tech startup teams coming together – they assemble a team of complementary skills, create a rough-cut demo tape and begin touring small venues. For startups, they gather a team of varying skills, produce their first prototype, and begin networking with customers and investors. What is selling merchandise at shows if not bootstrapping? And where startups have angel investors, bands have record deals, to launch that first album.

It’s a lean startup. As for new tech products, the same for new music – the key with frequent releases is to learn from them, that way you can fine tune your song writing, performance, and marketing for releases down the road. Playing songs live before they are released gauges crowds’ reactions and if it doesn’t getting them leaping in the air, then it’s back to the drawing board. The purpose is to experiment early and often, listen to what people say about you and adapt accordingly – creating minimum viable products.

Get out of the building, put on a show. Startups are focussed with iterating, constantly trying new things and experimenting with new features until one proves popular. That’s what bands do, get out of the building and onto the road, touring and performing at as many venues as they can to socialise and promoting their product. Enter the minimum viable track. Once you’ve got the early versions of your music in front of your audience, start responding to their feedback. If there are tunes they like, concentrate on those  —  if there are tunes they don’t, scrap them and try something else in their place. Get the approval of these early listeners – get validation, then pivot your product.

The early punk scene in NYC was as diverse and experimental as anything in the history of music, it was an exhilarating breath of fresh air, with the iconic club of CBGBs where they all launched, which remains in the tapestry of New York culture, just as Albert’s Garden, 40 years on. The Ramones, Devo, Television, Talking Heads – led by the enigmatic David Byrne – were all pioneers of a new genre, entrepreneurs for sure. If you’re never inspired to pick up a guitar or write great tunes, you can learn some key startup lessons from The Ramones.

Rock music is, after all, a business. There are partnerships to consider, record deals to craft, intellectual property to protect, tours to organise and merchandise to sell. Of course there’s also groupies, drugs, and trashed hotel rooms that one doesn’t (normally) find in a startup setting.

What’s your signature tune and tone of voice? What is your target audience in an already crowded market, why would people buy from you ahead of others? How hard are you really working to be different and stand out from the crowd, and build your own audience? What are you doing to optimise your potential, your talent, your energy, your fulfilment, your joy, your love, your self-actualisation, your Life?

Look back to 1976 when you stand in Albert’s Garden. Life. Why would you want to be anyone else if you’d been Joey Ramone?