I was at a breakfast for entrepreneurs the other day, and NYC mayor Michael Bloomberg spoke. The highlight for me of his talk was when he likened entrepreneurship to being on a train in a tunnel and wondering if that light at the other end was another train coming right for you or really the end of the tunnel. He went on to say that as an entrepreneur, you’ve got to believe that it’s really the light and to go for it — get to the end of that tunnel as vigorously and intelligently as you can.
This metaphor resonated with me. Being an entrepreneur means going through one tunnel after another. To succeed, we have to drive actively to the light each time. There’s really no other choice. You’ve got to make finance a core strategic tool in your company by knowing and using your numbers. Analyze your customers and competition so you can identify, secure, and maintain your competitive advantage on an ongoing basis. Put a sound organizational infrastructure in place. And more.
We have to do these things ourselves. There are outside advisers who can help figure it out and there are lots of other resources out there. (Keep coming back here to learn what some of them are.) But no one else can do it for us — and that’s a large part of the fun of being an entrepreneur. At least, it is for me and the people I’ve worked with.
Of course, if you have reason to believe that light you see really is an oncoming train, leaping off the one you’re on before it’s a wreck is always a good idea.