This content will be shown in the summary on the main blog page. Click on this text to edit it.
How terrified are you of running your own business? I'm not just addressing business owners but also those that are teetering on the edge of, 'I want to but….'.
Do you know at which point, you have taken too much risk or about to take that risk or do you retreat into the relative safety of 'lifesupport' to make sure you survive and don't suffer from the business world's equivalent of diving decompression sickness?
Running a business always holds risk. Period. There is no denying that it's tough especially in this hard economic climate. What do you do? Do you strap on a tank, or hold your breath?
The Scuba Diver: Equipped, Calculated, and Comfortable
The scuba diver is always meticulously prepared: tanks are checked, regulators are secure, gauges are calibrated. They descend with a steady supply of oxygen, knowing they can stay down for extended periods, exploring at a leisurely pace. They have a clear mission, a backup plan, and the comfort of knowing their air supply is consistent. This equates to the business "scuba diver" - they plan, has resources and will take calculated risks:
* The Dive Computer is your business plan. Every contingency is considered; financial projections and operational strategies are laid bare before the first penny is invested.
* The Oxygen Tank is your funding. Solid funding rounds are secured; cash flow is healthy and reserves are built. You, as the 'scuba diver' owner know you have the breath to sustain yurself through lean times and unexpected currents.
* Your Buddy System is your team. Your team is robust and everyone knows their roles and responsibilities.
.
When and why do you Go Deep? You Go Deep when it's safe!
Scuba divers thrive on control and sustainability. They can go deep, explore thoroughly, and enjoy the journey knowing they have the tools to mitigate most risks. What is their motto? "Slow and steady wins the race... and avoid being eaten by a metaphorical shark."
And then there is the free diver.
The Free Diver: Instinctive, Intense, and Intensely Present
The free diver has no tanks, no heavy gear. Just their body, their breath, and an incredible connection to the water. They descend on a single breath, pushing their limits, acutely aware of every sensation, every second. Their dives are shorter, more intense, and require immense discipline and mental fortitude. It sounds terrifying.
The "free diver" business owner is driven by passion, agility and a profound trust in their instincts.
* Your Lung Capacity is your strategy. There is a clear, often audacious vision that fuels your every move and you're willing to make sacrifices and push boundaries to reach it.
* Your Breath-Hold is bootstrapping i..e, starting with minimal resources, reliance on grit, creativity, and resourcefulness to get by. Every pound (£) counts, every decision is critical.
* Your Fins are your adaptibility because you have no bulky equipment, you pivot quickly, respond to change, and seize opportunities that might be missed if weighed down with too much preparation.
* Living in the moment is being in the depths. Free divers make quick decisions and rely on inner strength. Success comes from willpower. 'Free diver' business owners have an uncanny ability to read the subtle shifts in the business environment. And their motto? "Feel the current, trust your gut, and don't forget to breathe... eventually."
So, Which One Are You?
Both approaches have their merits, and most of us probably fall somewhere in between these two extremes.
Possibly we all start as free divers as we bootstrap our way through the initial stages, driven by pure passion and limited resources. As our business grows, we begin to adopt more scuba-like strategies, building a team and securing more stable funding.
But perhaps we're natural scuba divers and we've learned the importance of shedding some gear and making quick, instinctual decisions when the market shifts unexpectedly.
What's important?
Understand your own style, acknowledge its strengths, and be aware of its potential pitfalls. A free diver needs to know when to surface, and a scuba diver needs to avoid getting complacent with their air supply.
Whether you're meticulously planning your next strategic descent or holding your breath and plunging into the unknown, remember to enjoy the incredible journey. The business ocean is vast and full of wonders, challenges, and endless opportunities. Just try not to get saltwater up your nose.
Next time: The £10 000 mistake!
Share this post: