OK, it turns out a number of you have asked me how I got started as an entrepreneur. I know I’ve told bits and pieces in various episodes, but it seemed like it was time to put it all together and give you a bit of my back story.
You see, I didn’t start Idomeneo because I had always wanted to start a company one day – I was pushed into it. When the financial services/tech company I was working for got caught in the bubble of 2000, we had to shut our doors. At the time, the then president (let’s call him Nigel) said he thought I should start my own HR company. I promptly thanked him, laughed, and said no way; I was going to get a job! When he asked why, I said because I couldn’t be a CEO. My value as the chief HR officer had always been to be the confidante and coach to my CEO. To my mind, I’m a fabulous #2, but I never aspired to be #1.
But 7 months later, when Nigel had become CEO of another company, he brought me in as a contractor to fix the HR division, or rather, to BE the HR division, and kept adding things he needed me to do for him (knowing my business compliance gene would kick in and I would eventually insist on having a formal contract, and business insurance etc.) – I incorporated Idomeneo Enterprises, Inc.
It has been the best, scariest, most rewarding, and humbling experience I have ever had. It’s surprising how easily someone else can see in you what you don’t see. But he was absolutely right – and if he hadn’t forged ahead, neither of my companies would exist. I wouldn’t be in a position to guide and coach new entrepreneurs on their journey. And guess what – it turns out….that’s exactly what I’m here to do! It’s my ‘why’!
It all starts with who you think you are. Because who you think you are translates into how you behave. Mindset is everything.
I got lucky in the first couple of years of Idomeneo. It was just me – no team to lead, no vision required, no grand product to develop. The only challenge I faced was getting clients. Oh, did I mention that the year we started was 2001? Yep, I decided to start a company in one of the worst economic downturns we had seen (up until that point). No one was buying anything – they were hunkering down. And they certainly didn’t see a compelling reason to hire someone to write their employee handbook.
So, why do I feel like I was lucky? Because I didn’t really have to shoulder the demands of a CEO. Sure, I needed clients because I had to pay my mortgage (and my 401k money wasn’t going to last forever). But the only overhead I had was my cell phone, internet service, and toner for my home office printer. And since we’ve always been bootstrapped, I didn’t have anyone to answer to. Basically, those first couple of years, I was simply creating a job for myself.
But it gave me time. Time to begin to understand what owning a company might actually require. Time to realize that to make it go, I would have to put myself out there and show up. Time to develop a fierce commitment and certainty that we would be successful. Oh, and I also had to build an idea into a company.
“… I quickly realized that I had two areas of deficiency that I would have to figure out. I had never done any type of marketing – and – I had never sold anything….ever.“
At first, I just had to do the work – and I am really pretty good at HR work. I know it like the back of my hand, organization is my middle name, and I’ve been working in and around businesses for more years than I will admit here – so I understand what makes them run. But I don’t come from an entrepreneurial family. And at the time, none of my friends were business owners. So, I realized I had a steep learning curve to tackle.
I began reading. Any and everything I could get my hands on about starting and running a business. Inc. magazine became my relaxation activity of choice. I scoured the web for articles, blogs, Q&As, and any other material I could find on setting up and running a business.
I quickly realized that I had two areas of deficiency that I would have to figure out. I had never done any type of marketing – and – I had never sold anything….ever.
Now, lots of business owners come from a sales background – and it’s a good thing because your business is nothing without sales. But some of us don’t. And of that group, some of us don’t even have the innate talent. Well, I’m part of that team. Didn’t know how to sell. No innate talent for sales. But again, initially it wasn’t really a problem. I had the one client, he was growing, and I didn’t have to do anything scary – like prove myself or my company to someone new, or try to sell our services to someone new, or figure out how to even contact someone new.
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But eventually, you have to get serious and make an EFFORT. And I knew I would have to figure out the sales thing because the revenue from one client was just not going to cut it. And besides, somewhere along the way, I was bitten. I had become fiercely committed to Idomeneo, and myopically focused on its success.
One (or one hundred) of the articles I read said I had to get out there and network. So, I visited Chamber of Commerce meetings, and sought out other (free) networking opportunities. Don’t judge – it was 2001. Facebook didn’t even exist.
I talked to everyone I knew (and probably bored them to tears) about the company and our plans.
A bit of a timeout here – have you noticed that I use ‘we’, ‘our’, ‘us’ when I’m talking about the company? Sure, I have a great team now – but I have always used the plural, even when it was just me. And although my friends would sometimes tease me, they also admired that the team vision was always in place. The one thing I have always known is that we were not here to play small ball. We are here to help as many people as we possibly can. So, I always knew we would start out, but not remain, a boutique firm.
Now, it’s perfectly OK if that particular vision is different than the one you hold. But again, if you’re here – my guess is you are aiming higher as well. So, if that’s the case – speak it into existence. Because words reinforce mindset. So speak as though you have already reached the level you want.