Years ago, a summer job gave me one of the most valuable lessons in entrepreneurship.
I needed tuition money for university so I got a job at a factory printing t-shirts. I witnessed firsthand how the owner juggled multiple and often diverse tasks in order to operate a successful business. Looking back, I was naive to think that a t-shirt printing company was just about printing t-shirts.
If you look at the journey of an entrepreneur, it all starts with an idea. But an idea is just that – a thought. Without execution, an idea is as good as yesterday’s newspaper. Only when execution follows an idea, can you determine if there’s product-market fit. If you achieve product-market fit – congratulations, that’s a major accomplishment! You can start a company to further iterate on the idea and cement your place in the market. But once you start a company, you have to turn it into a business.
I’ve personally gone through this journey three times. My first business failed, I sold the second one, and the third has become one of Canada’s most successful startups. My experiences failing and succeeding as an entrepreneur reinforced the lesson I learned that summer many years ago: As an entrepreneur, the best product you can build is yourself.
You will wear many hats throughout the entrepreneur journey. As your company grows, you play different roles in the company and you can expect to change ‘jobs’ every few months. Each new job requires a different skill set. You may start as the product designer, but soon you’ll lead a team as a manager, and then eventually you transition into a leadership role. I have yet to meet a single person who, at the launch of their company, has every required skill. So welcome continuous learning and crave self-improvement.
Taking the time to build yourself as a well-rounded entrepreneur will pay dividends.