Bootstrapping - Pressure Creates Diamonds
For a long time I have been addicted to podcasts about startup businesses.
It started with this one about Gimlet media. It is a hilarious replay of Alex Blumberg pitching Chris Sacca on why Chris should invest in Gimlet media. What I liked most about this first season of StartUp is that it was a very real account of what it is like to not only fire-up the engine of a new company, but to actually assemble it piece by piece. I have always been in love with this part of business because I am so fascinated by all the pieces and parts that work together to create a culture and product that is (or is not) successful.
Long before we actually took the leap of faith to start Wearrative I knew that a major difference in large corporations and startups was a startup's ability to adapt, accelerate, pivot and flex. Being that I have worked almost all of my career in large corporations, I would pay close attention to how businesses behaved when their backs were against the wall. To a large corporation that would be missing revenue, or a product recall, or a product launch. I loved these moments in big corporations because when the stars aligned and everyone was incentivized by the same mission and goal, amazing things would happen. Vicky Keith once called it "releasing the beast". I love that and I always wanted to better understand why the beast couldn't be released daily.
One of the new "Startup"-like podcasts I have been listening to is sponsored by ebay and played by Gimlet Creative. It is called "Open for Business." The episode that I wanted to share here is called "Bootstrapping 101." In short, the story is about startups that have no money. There are so many great tidbits here, but my favorite starts at the 29th minutes where John Henry and Erin McKenna are talking about the life lessons from growing up with very little to building a business with very little. It is a great conversation and my favorite part is when John says, "Pressure crates diamonds." It is worth a listen, if nothing else, to serve as a reminder of perspective. We are given experiences in life for a reason - so that we can cash them in at some point in the future for more than they cost.
So much of this story relates to Wearrative and the pressure that you have to take each imperfect step and the humility required to sprint, stop, pivot or dig in based on your results.
Here is to learning from others and to great stories!