Mom said: If all of your friends jumped off a bridge, would you?
The lesson:
Don’t follow the crowd. To be a great entrepreneur, don’t do what everyone else is doing. In essence, that’s the core of entrepreneurship…doing something different and better than anyone else. Margaret Thatcher, former Prime Minister of the United Kingdom and a mother of 2 said: “don’t follow the crowd, let the crowd follow you.”
Mom said: Money doesn’t grow on trees.
Also, turnoff the light. Do you think we own the electric company?
The lesson:
Watch your money carefully. Entrepreneurs have to monitor income and expenses closely to ensure that they’re profitable, have solid cash flow, and are building for the future. This can’t be done successfully unless there’s a realistic budget and it’s followed. Literally, turning off the lights—computers and other equipment—at the end of the day is a money saver that can go right to profit-side of the ledger. Remembering what mom said is especially important when things are going great because it becomes too easy to let fiscal reasoning slide.
Mom said: It’s no use crying over spilt milk.
The lesson:
Get over failures. Being in business means experiencing successes, but also failures. Hopefully, the failures teach valuable lessons—what not to do in the future. My book Smooth Failing is about the failure of other entrepreneurs and the lessons in them so you don’t have to repeat them. As mom essentially said, put the failure behind you and don’t let it become your undoing. Carol Burnett, comedian and mother of 3, said: “You have to go through falling down in order to learn to walk. It helps to know that you can survive it. That’s an education in itself.”
Mom said: How do you know you don’t like it if you haven’t tasted it?
The lesson:
Try something before you make a decision about it. This is important in a couple of ways. New products and new technologies continue to flood the marketplace. Some may be very helpful in your business, but you probably can’t know for sure without trying. And if you’re thinking of launching a new product or service, do market research and test it out before you run with it. Three big taste test failures: New Coke (in 1985), Crystal Pepsi (in the 1990s), and Starbucks Mazagran (also in the 1990s). Consumers tasted and rejected these new products.
Mom said: Stop crying before I give you something to cry about!
The lesson:
Don’t get upset about everything. Things go wrong in a business, maybe every day. You can’t sweat the small stuff or you will physically, financially, and emotionally wear yourself out. As an entrepreneur, you need to stop crying about what’s gone wrong and focus on solutions.
Final thought
Again, I want to thank mothers for all they do. “Why? Because I said so.”
See additional blogs here composed with the topic of Mother’s Day in mind.
