Nobody wants to go through it, but when we’re forced to, it turns out to be for the better. The reality is that, for the venture world, most of the new generation of entrepreneurs and investors have been educated in a time of abundance, with easy access to capital.
Raising round after round within six to nine-month windows became the norm. When money is easily found, it is also easily spent. During times like these, offices became nicer, overhiring was a common practice, and there was little concern over customer acquisition costs. Incentives were used to retain customers, as we know from the large number of coupons offered by companies like Rappi and Uber. Have you heard of the term VC2C? Well, it stands for Venture Capital to Consumers, which reflects the scenario I just described.
Now, the tide has changed dramatically, and those who can adjust with speed and a positive attitude will benefit the most. If you’re starting afresh, it’s easier because you won’t have to change habits. If you’ve raised in 2019-21, it will require more effort, but it should pay off. It’s important to keep in mind that Venture Capital money only came into place in the 1960s in the US and became more popular in Latin America around 2010. Before then, companies were created out of founders’ capital and with a lot of sweat. Entrepreneurship has always been a reference to hardship, resilience, and resourcefulness. Today, I spoke with a founder who is going through this process, and in her words, “We now have the mindset we had prior to fundraising. We’re doing a lot with very little.” Now that she has a plan in place and has accepted that she will not raise any time soon, she is energized and driven to make her company happen (this was not the case when she was trying to fundraise unsuccessfully). So, let’s go to the quick list of benefits of executing with scarcity:
Resourcefulness and creativity: This means finding creative ways to stretch your budget and make the most out of every opportunity. You will have to learn how to prioritize your spending and focus on the areas that will generate the most significant return on investment. By doing so, you will develop a keen sense of resourcefulness that will serve you well throughout your business journey. My recommendation is always the same: for early-stage startups, the goal should be finding product-market fit, which stands for having growing customers who are consistently engaged and paying for a product or service.
Agility: When you don’t have the luxury of a large budget, you have to be nimble and adaptable. This means being able to pivot quickly when a product or service is not performing as expected or when the market shifts. This also means making adjustments to team size and profiles quickly. With limited capital, your decisions must be swift. This will create a culture of strong performance that, if well-managed, will retain and attract those who are willing to fight with you over the long run. Of course, always communicate candidly and warmly.
Focus: Running a startup with little capital can help you maintain focus on what is truly important. When you have limited resources, you must prioritize what is essential to the success of your business. This means focusing on your core business model and avoiding distractions that can lead you astray. Priorities should be discussed on a weekly basis with the leadership team and on a monthly basis with the company at large. I recommend following the funnel model: start with the purpose of the organization, go to values, dive into goals, and then highlight the priorities needed to achieve these goals. People need to be reminded again and again why they’re there, what they’re trying to accomplish, and how to do it.
Let’s end with an old and reassuring note:
“A smooth sea never made a skilled sailor.”
Franklyn Roosevelt
http://letshike.io/wp-content/uploads/2023/04/Rough-sea.jpeg431900adminhttp://letshike.io/wp-content/uploads/2023/02/Logo-editado-v7-300x300.pngadmin2023-04-03 20:44:102023-04-04 18:59:51Leading with less: the benefits of executing with scarcity
It’s a fact, our primitive brain seeks stability, predictability, and minimal energy expenditure to keep it safe, nourished, and alive. Interestingly, this same organ sometimes gives a nudge and provokes us to leave the place, to unveil the unknown, to question this much sought after stability and — oops! — including risking it in pursuit of something greater. The human mind is indeed confused, and luckily there is philosophy, therapy, meditation, running, surfing, beer, wine and friendly shoulders to alleviate our permanent conflicts. Even so, one cannot ignore the fact that whether or not the desired stability is increasingly far from the vast majority of mortals, especially us here in this Tupiniquim land in this year of 2015.
In the corporate world, hierarchical layers are being cut from all sides, accumulation of responsibilities, increasingly distant goals and the growing insecurity that your chair can rotate. In the creative and entrepreneurial universe, professionals of all ages seek to launch the next blockbuster application, create the new and most efficient productivity tool and find the long-awaited autonomy and financial independence — attitudes that we personally admire, but inserted in a context with demand exponential investment and limited capital availability. On the educational agenda, there are criticisms and provocations of changes communicated daily, coming from researchers, specialists and, notably, from civil society itself. In the vast majority, they are initiatives that aspire to take us to a scenario closer to true learning, which is very good. Even so, it only reinforces the feeling that the world and the way we live is being disrupted, having its structures dramatically shaken. Even the dreamed world of public tenders, the emblem of the search for stability and with more and more aspirants, samba to unpredictable rhythms masterfully led by tight public accounts and macroeconomic instability.
Thus, the question arises: what can be done to better navigate this galaxy of uncertainties and ambiguities? How not to despair with the expectation that we can, at any moment, be kicked far from our comfort zone?
The proactive path is to deliberately leave that comfort zone, consciously deciding and against the will of that primitive brain to provoke and challenge it. Over time, these exercises result in stronger, more defined muscles, and a body and mind ready to fight and even have fun when that kick comes. After all, a kick hurts much less in an athlete’s body, muscular and well trained, than in a skinny and sedentary body.
But, and how to take the first step out of the bubble that constitutes our routine? We risk here some logical ideas and concrete actions, which have been tested and proven in our past experiences, as managers or coaches.
1. Recognize where you are today: What industry, role, and geography do you find yourself in? What is your career progression to date and the prospect of growth in your current job? In what areas, competitors and industries do you see yourself adding value and delivering impact — or in other words, what skills from your current job can you easily apply in other contexts? Before starting any challenging sport, it is important to have a medical evaluation in order to diagnose your current physical condition and design a healthy and robust training plan. With your career, it works the same way: an honest and concrete diagnosis, based on facts of where you are today is a fundamental step to guarantee the solidity of your future roadmap.
2. Making an analogy to the financial investment strategy, diversify your portfolio of professional skills: an investor reduces his risk by investing in a varied portfolio of companies (read geography and sector). So, when one goes wrong, there’s probably another one to balance the equation. Why not do the same with your skills? It is important to know how to navigate and communicate with different functional areas (marketing, finance, operations, HR), to develop skills that allow you to easily be relocated to other areas and geographies and feel ready to quickly make things happen beyond your own bubble.
3. Challenge yourself in your spare time: But life is not just work and everything we do outside of it impacts our perception of it. The people we interact with and the activities that occupy our time away from the office influence how we see ourselves as individuals and professionals. Thus, it is worth reflecting on how we spend, or invest, our spare time: (1) sleeping, (2) in front of the TV, (3) exploring a book, a new concept, and provoking the mind to learn something different, (4 ) playing or experiencing a physically challenging sport, (5) traveling and exploring unknown territories that challenge our perception of how the world works and what is right and wrong? The list is long, and the important thing is to mix rest and challenges, aware that the brain is plastic and, if we do our part, new synapses will continue to happen.
4. Discover and explore personal passions (which may eventually turn into professional ones): It’s not easy to know what our true passions are. It is not an intellectual, rational process; on the contrary, it is something organic, practical, that happens as we explore and experience possibilities. Example: I (Alex) only discovered that running was a passion after 3 months of continuous practice 3 times a week. Once the first phase of euphoria, fatigue and adaptation had been overcome, I could see after 3 months how much my life had improved due to the exercise. Likewise, release curiosity and explore new sources of energy: crafts, volunteering, extreme sports, nature walks, conscious eating, meditation, music, independent travel through inhospitable and little-explored places. Dedicate time and energy to exploring dormant interests and needs, opening up new avenues of possibility.
5. Experience transition possibilities and greater learning: Taking a broader step, why not invest in more radical transformations, such as preparing for a change in sector or even country? Here, the investment of time, energy and money is much greater, and therefore decisions must be weighed according to your financial and family situation. We are talking about Masters, MBAs or PhDs abroad, in top schools, which can open up previously unimaginable personal and professional possibilities. Without having to go that far and with a much more modest investment, professionals interested in changing the world through social entrepreneurship have the possibility of learning in practice by engaging with institutions that propose innovative learning models. Why not look for solutions to social challenges and problems without making radical career changes, experimenting and learning little by little? Graduate programs with this purpose, for example, can function as a career transition platform and a bridge to a world with potentially different and revealing people, values and definitions of success.
By recognizing that your professional value is not just limited to a position in sector X at company Y, possibilities increase, as well as your (emotional) dependence on what is written on your badge decreases. Many of the professionals who seek the services of a career coach only see a linear evolution for their careers. For example, a finance analyst in the consumer goods industry can see only one evolution to a management in the same area and sector. The secret lies in the intersection of skills, experiences, passions and talents, and when people can connect these dots, they unlock a universe of possibilities.
Finally, everything that challenges us and forces us to rethink the world and our role in it results in strengthening our ability to reinvent ourselves in times of crisis and face unexpected situations. It results in greater resilience, self-knowledge and self-leadership, fundamental elements of professionals who bring a positive impact to the world and, not least, live an integrated personal and professional life, full of meaning and happiness.
Article originally written by Alex Anton and Rajesh Rani, published in Harvard Business Review Brasil in June 2015.
http://letshike.io/wp-content/uploads/2023/03/Comfort-zone.jpeg470750adminhttp://letshike.io/wp-content/uploads/2023/02/Logo-editado-v7-300x300.pngadmin2023-03-29 09:20:372023-03-29 09:20:39Get out of your comfort zone before you get kicked out of it!
These are just some of the key words we’ve heard (and felt) in recent times. Naturally, being exposed to all of this reflects the fear of losing your job. It’s a natural fear. However, science knows that fear blocks risk, and in times of crisis perhaps what you most need to do is take risks: by being brutally honest with others and yourself about past decisions and their impact on the present and future; testing new ways to sell, relate or perform everyday tasks; and saying no to what is pleasurable but irrelevant.
The unemployment rate in Brazil stood at 11.2% in the quarter ended in May this year, the highest result in the historical series started in March 2012, according to the National Household Sample Survey (Pnad). Naturally, the fear of Brazilians of losing their jobs accompanies the numbers. In December 2015, this fear had grown by 36.8% compared to 2014, according to a survey by CNI (National Confederation of Industry). The phenomenon is not exclusive to Brazil. A survey published in January 2016 and conducted by the agency ICM Unlimited with 9,000 workers (16 to 25 years old) from countries such as Australia, South Africa, the United States, Brazil and also from Europe shows that 50% of these young people believe that their training it did not prepare them for the job market, which is reflected in the fear of stopping on the street.
Eager to explore this theme, we conducted a study on success, fears and values with approximately 200 people, mostly between 25 and 35 years old from the Southeast region of Brazil between June and July of this year. Among other concerns such as health and family problems, 46% of respondents associated their greatest fears with their professional life. In response to the question “What are you most afraid of?”, 25% associated it with stagnation and professional failure, 16% with instability or financial failure, and 5% directly mentioned unemployment. In contrast, 42% of respondents demonstrated a negative degree of career satisfaction (on a scale of 1 to 6, up to 3 points). Of this portion of dissatisfied people, 26% linked their fears to professional failure, 18% to financial issues and 4% to being unemployed. This same group of people stated that, if they were not afraid, they would take more risks such as traveling or leaving the country (32%), would change careers or open their own business (28%) and would hesitate less in their decisions and actions in general ( 22%). Basically, those most dissatisfied with their careers are the same ones who are most afraid of losing the career they don’t like. Curious, isn’t it?
Fear is part of the human essence and guarantees our survival in risky situations. It allows you to analyze scenarios and assess consequences, but it must be managed consciously. Practicing self-awareness and understanding our real fears is the starting point for identifying situations in which fear inhibits our actions at times when we should be guided by caution — fear is a primitive and often irrational response, while caution is rational and logical . By focusing our perceptions and energy on what we don’t want, we end up running away from our real essence and our dreams and enter a vicious cycle of failures.
It’s easy to criticize. But the fear of success is a problem that affects many people. In a study published in February of this year in the journal Frontiers in Psychology, Neureiter and Traut-Mattausch address the Impostor Syndrome, defined as the state of perceived intellectual and professional disability, despite evidence to the contrary. This condition affects approximately 70% of people at some point in their lives and is related to fear of failure and fear of success, as well as low self-esteem. The study points out that these feelings are proven to reduce career planning, ambition and motivation to lead.
Although a biological process, fear is not an insurmountable phenomenon. Our brain is in continuous evolution due to the experiences we live and, therefore, it is possible to reconfigure it (cerebral neuroplasticity phenomenon). This requires knowing your strengths and using them to gain self-confidence as your exposure to what you fear grows. The greater the exposure to conflicting and challenging situations, the easier it will be to face and overcome anxieties. The psychological foundation is in exposure therapy: exposing yourself gradually and repeatedly and, with a rational perspective, getting out of mental exercises like “oh if I had…” and actually living new experiences in a practical and visceral way. Afraid to fail? To change? From stepping out of the comfort zone? Not taking initiatives and defending yourself with shallow arguments is always the easiest way. However, if you don’t risk it, you certainly won’t know your limits and you won’t experience transformative experiences. Staying conformed and choosing to remain in “standby” will only make you stop embracing new opportunities and watch time pass without any initiative. Is this really your profile and how do you expect to trace your trajectory?
To answer this question, we suggest a simple and useful diagnostic exercise. Answer the questions: In the past year, how many times did I:
(1) Did I accept a wrong answer or poor work from my team and stay quiet so as not to “create a fuss”?
(2) Did I fail to give honest feedback to my boss and colleagues because I feared their reactions?
(3) Did I not position myself firmly and convincingly in a debate in which I dominated the subject in order to save energy and not confront?
(4) Was I not interested and determined to embrace a new project in the company for fear of failing and not delivering?
Difficult and uncertain times are great opportunities to review where we are coming from, where (in fact) we are and where we want to go. Of course, it’s not easy and help from colleagues and professional coaches can be welcome.
People who make a difference are dreamers and visionaries, but above all, courageous. Tracing a unique and non-linear trajectory in which we reach our maximum potential implies taking risks and escaping mediocrity. Don’t reduce your dreams out of fear. The failure of extremely daring goals is even more enriching than the success of mediocre dreams. Mistakes and failures are part of the learning process and a successful career. Change your mindset, have positive attitudes, work hard and take risks.
http://letshike.io/wp-content/uploads/2023/03/Fearless.webp5231000adminhttp://letshike.io/wp-content/uploads/2023/02/Logo-editado-v7-300x300.pngadmin2023-03-29 09:17:172023-03-29 09:17:19Want to make a difference? Don’t be afraid of losing your job
This writing is an exercize in connecting the dots, which we should all do from time to time. It’s a journey through memory lane as well as a recollection of moments registered through journalling, which I have been practicing for more than 20 years (everybody should do it too, it’s like doing therapy for free).
As a Brazilian, being born in a working-class family basically means that you are fated to have your life pre-designed. Typically, you follow the steps of your parents, beginning with standard education, heavy pressure to get into a public university, some odd jobs to raise all the pocket money possible and, after graduation, facing the usual battle to get the first job. Once you have made it, you are supposed to consider yourself happy, get married, and enjoy life playing soccer and drinking beer with your best friends. That was all, my mom had thought, until early 2003 when I took the initiative to apply for a traineeship program in Potsdam, Germany. Enthusiastically and doubtful, I put all my efforts into that application. Two months had passed, and the German-stamped envelope finally arrived; it was a “yes”, and that was the beginning of a series of events that led me to found HIKE today.
Following that amazingly surprising outcome, many beer cans were opened, numerous cheers celebrated, smiles, good laughing, and some tears at my hometown’s airport. Suddenly I was hit with different feelings, assorted faces, and an odd language; I had arrived in Berlin. Back then I hardly spoke any English, and my German was non-existent. Now I realize how pretentious I was in expecting that a place would be exactly as my mind had projected. From Berlin’s airport to Potsdam’s train station, I realized that some feelings are simply so profound that they belong only to the ones who’ve been through them, and alone, during those 65 minutes, I experienced scents, temperatures and emotions that would seem silly if written here. They were mine, and if translated into one word, that would be “discovery”.
Since then, my journey has been illustrated with significant independent-driven discoveries. It hasn’t always been easy or romantic, but by walking off the beaten path I could experiment things that otherwise would never have come across my way. Essentially, in my past 20 years I have witnessed that it’s out of your comfort zone that you truly become aware of your inner soul, beliefs, fears, dreams, passions, prejudices, and everything related to self-awareness. I have been fortunate to allow myself the freedom to explore the beauty of self-awareness; consequently, I have realized that I want to drive my existence towards something meaningful and tangible.
I have always been curious and passionate about designing products and services that have the power to add real value to people’s lives by offering solutions to their physiological and psychological needs. Consequently, today I am glad to introduce myself professionally as a scientist, turned entrepreneur, investor, coach, mentor; above all, I am and have always been a strong people-person. As you can see through my Linkedin, I have been fortunate to work with world class people and companies, having excelled on the startup and scale up world, where I deeply connect with the culture of pragmatism, dynamism and purpose-driven leadership. Despite all the good-looking brands on my CV, these are external metrics; on the other hand, the experiences I had through all the amazing people I’ve met are all internal and there’s no dollar sign I can put on them. I feel grateful and privileged for the journey so far.
I learned that I thrive when working with people who are curious, open-minded and ambitious on their own terms; through authentic conversations, I feel the power and joy of inspiring and getting others to reach their potential. This is my calling and what I want to deploy, develop and grow at HIKE.
I am always driven to walk the talk, and I love talking to strangers. I am not afraid of initiating new ventures and am passionate about entering new territories. Through my own initiative, I have lived and worked in Germany, UK, Canada, Switzerland, USA, China, and Malaysia. I truly embrace diversity and I like to think I was born to be a citizen of the world. As a good citizen, I have independently — and with very limited resources — explored more than 60 countries. I am also a father of two, a marathon runner, surfer, and a lover of the world and all its nuances.
I truly believe that authentic leadership — learned through intense and multiple experiences driven by your own initiative and with the support of strong communities — is the key to making this world a more tolerant, accessible, real, and possible place. I work to empower and cultivate more of such leaders.
http://letshike.io/wp-content/uploads/2023/03/IMG_9032.jpg10671600adminhttp://letshike.io/wp-content/uploads/2023/02/Logo-editado-v7-300x300.pngadmin2023-03-28 12:05:132023-03-28 12:05:16My personal narrative, the longer format