A Startup Never Closes

Home
>
Entrepreneur
>
A Startup Never Closes

When it comes to a startup, the luxuries shared with established companies are few and far between. Chief among them is the luxury to close at the end of the day. Big companies have the benefits of capital, customers and receivables. Startups, on the other hand, have jack squat. They need to work twice as hard to make half as much, and even then they're not working nearly enough.

If you had any delusions going into this new venture that things were going to be easy and you were going to be on your own schedule then let me serve as your wake-up call. A startup runs like a casino ? it's all about making money, it's a huge gamble, and no matter what, a startup never closes!

Your new business hours: every waking moment

Working like a slave is the norm in a startup company, not the exception. When I started my first company, Blue Diesel, I didn't see my family, celebrate Christmas, or take a weekend day off for three years. After a while I forgot that people go home on the weekends and sick days shouldn't be considered a vacation. Sure, I was demented, but I wasn't alone.

Startups realize that in order to get ahead they need to trade their time (and their lives) for the good of the company. You can only accomplish so much by working smart ? the rest just comes down to lots and lots of hours.

Even if you've go the stamina to put this kind of time in, it doesn't necessarily mean the rest of your team does. Make sure that everyone is well aware of what is expected of them and what they're signing up for.

Set Clear Expectations, And Live by Them

It's always helpful to let people know what they are getting into before they get started. Inform potential employees during the interview that the demands of a startup are far and beyond anything of a regular 9?to-5 job. Let them know that you don't think twice about working weekends or into the evening and that you expect the same of them. You'll find that the clock-punchers won't return your phone calls and the truly insane will show up on Monday with a case of Red Bull. It's a twisted form of "natural selection".

And remember, the pace of a startup starts with you, so it's important that you set a tone by consistent example. Don't expect your team to show up before you and leave after you. You need to demonstrate that if sacrifices are going to be made, that you are as willing to make them as anyone. Action speaks a whole lot louder than words.

How to know you're working for a startup

Let me give you some indicators to let you know when you're truly working for a startup. I'll give these to you Jeff Foxworthy style. If you really don't know what day it is, you're probably working for a startup. If you know the number for pizza delivery to your office by heart, you're probably working for a startup. If you look forward to holidays because you'll miss traffic and get to work ten minutes sooner, you're probably working for a startup. Welcome to your new life.

Send 5:01 home

Not everyone will be on board with this "every waking hour" schedule. In fact, you'll inevitably hire the guy who will quickly become known as "5:01". We call him 5:01 because when the clock strikes 5:01, his stuff is already packed up and he's heading out the door. This is a problem because startups don't close at 5:00 - they leave when the job is done.

When the rest of the team is working around the clock and forgoing all sleep, 5:01 is going to be about as popular as cancer. This isn't to say that 5:01 isn't a good guy who can do good work. There's plenty of room for him - just not in a startup.

The Star that Burns Brightest Burns Fastest

There's a real downside to this schedule and that's burnout. You can only run the engine at red line for so long ? eventually it's going to explode. Knowing this, you need to give you and your team a well-deserved break from time to time. When your performance slows down all the extra hours in the world won't make up for it. Don't be afraid to take a pit stop from time to time and refresh. Get as far away from work as possible and just unwind.

It better be worth it

Needless to say, if you are going to make a sacrifice this great, you had better feel extremely passionately about what you are doing. In the end, when you make your dream a reality, the payoff will be worth it. Until then, put this column down, chug another Mountain Dew, and get back to work!

- Wil

Wil Schroter is a serial entrepreneur, author, and public speaker. Wil has been recognized as U.S. Small Business Person of the Year, twice as the Ernst and Young Entrepreneur of the Year (1999 & 2004), and is a member of the Business First Top 40 under forty. Connect directly with Wil at wschroter@yahoo.com. Visit http://www.goBIGnetwork.com.

In The News:

Yahoo! News: Top Stories

Geithner likely treasury pick; Clinton 'on track' (AP)

AP - President-elect Barack Obama intends to name Timothy Geithner, president of the New York Federal Reserve, as his treasury secretary to confront the nation's intense economic turmoil, senior Democratic officials said Friday.

Obama keeps low profile in auto rescue talks (AP)

AP - While President-elect Barack Obama publicly sidelined himself during congressional debate over an auto industry bailout this week, he and his top aides quietly prodded congressional leaders to find a solution to rescue struggling automakers.

Neb. lawmakers OK age limit for safe-haven law (AP)

AP - Gov. Dave Heineman signed into law Friday a bill adding a 30-day age limit to a safe-haven law that allowed 35 children including teenagers as old as 17 to be abandoned at state hospitals. The law, approved hours earlier by the Legislature in a 45-3 vote, goes into effect Saturday, and makes Nebraska the 14th state with a 30-day age cap. It had been the only state with a safe-haven law without an age limit.

Germany drops attempt to ban Scientology (AP)

AP - Germany is dropping its pursuit of a ban on Scientology after finding insufficient evidence of illegal activity, security officials said Friday.

Gates would like to add US forces in Afghanistan (AP)

AP - Defense Secretary Robert Gates said Friday he would like to add significant U.S. forces to the war in Afghanistan before national elections scheduled for next year, and that grim depictions of backsliding in the seven-year-old war are "far too pessimistic."

Fla. teen commits suicide with live Web audience (AP)

AP - A college student committed suicide by taking a drug overdose in front of a live webcam as some computer users egged him on, others tried to talk him out of it, and another messaged OMG in horror when it became clear it was no joke. Some watchers contacted the Web site to notify police, but by the time officers entered Abraham Biggs' home a scene also captured on the Internet it was too late.

Year later, baby ordered back to adoptive parents (AP)

AP - The Nebraska Supreme Court on Friday ordered a year-old boy back into the home of an adoptive couple who had to give him up months ago after not telling the biological family the woman was pregnant.

Lavish 1,800 year-old bronze chariot unearthed in Bulgaria (AP)

AP - Archaeologists have unearthed an elaborately decorated 1,800-year-old chariot sheathed in bronze at an ancient Thracian tomb in southeastern Bulgaria, the head of the excavation said Friday. "The lavishly ornamented four-wheel chariot dates back to the end of the second century A.D.," Veselin Ignatov told The Associated Press in a telephone interview from the site, near the southeastern village of Karanovo.

Suspect arrested for greasy imprints in Neb. town (AP)

AP - Police have arrested a man suspected of leaving greasy, graphic imprints on the windows of stores, churches and schools in a small Nebraska town. A 35-year-old man was caught in the act by police early Wednesday morning, Cherry County Attorney Eric Scott said Friday. The man hasn't been charged yet, but authorities believe he is the vandal some townsfolk have dubbed the "Butt Bandit."

Knicks set themselves up for 2010 with 2 deals (AP)

AP - The New York Knicks traded Zach Randolph and Jamal Crawford in separate deals Friday, parting with their two top scorers to free up coveted salary-cap space for the summer of 2010. Crawford was sent to Golden State for forward Al Harrington. Hours later, Randolph was shipped to the Los Angeles Clippers along with reserve guard Mardy Collins for Cuttino Mobley and Tim Thomas.

Obama moves to pick Timothy Geithner for Treasury (Reuters)

Reuters - President-elect Barack Obama on Friday moved toward nominating Timothy Geithner as Treasury secretary and charging the respected head of the New York Federal Reserve with helping pull the United States out of an economic nosedive.

Obama may consider Lawrence Summers as Fed chief: Democrat (Reuters)

Reuters - U.S. President-elect Barack Obama may consider Lawrence Summers as a successor to Federal Reserve Chairman Ben Bernanke, whose term expires in January 2010, a Democratic source told Reuters on Friday.

Citigroup talking to govt as shares dive: source (Reuters)

Reuters - Citigroup Inc has begun talks with the U.S. government as its plummeting share price raises doubts about the bank's ability to survive, a person familiar with the matter said.

GM cuts output, jets as U.S. demands turnaround plans (Reuters)

Reuters - Detroit automakers began work on turnaround plans demanded by Congress in return for $25 billion in aid as General Motors Corp said it would cut production more and give up two of its controversial corporate jets.

Wall Street stages late rally on Geithner news (Reuters)

Reuters - U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration's ability to take action.

U.S. eyes "surge" of over 20,000 for Afghanistan (Reuters)

Reuters - The Pentagon is considering a plan to send more than 20,000 troops to Afghanistan over the next 12 to 18 months to help safeguard elections and quell rising Taliban violence, officials said on Friday.

Bush, Hu discuss North Korea ahead of APEC summit (Reuters)

Reuters - U.S. President George W. Bush held talks on ending North Korea's nuclear program with Chinese leader Hu Jintao on Friday, the first in a series of meetings U.S. officials hope will lead to a renewal of six-party talks by early December.

Iran rejects U.S. reports it has basis for atom bomb (Reuters)

Reuters - Iran rejected Friday U.S. reports it had enriched enough uranium to make an atom bomb, saying this would require steps it had ruled out like ejecting U.N. inspectors and leaving the Non-Proliferation Treaty (NPT).

Bush bows out, China assertive at APEC summit (AFP)

AFP - US President George W. Bush began Friday his last scheduled foreign trip, meeting the leader of increasingly important China ahead of a summit aimed at containing a spiraling financial crisis.

Congo demands stronger mandate for UN troops (AFP)

AFP - Congo demanded a stronger mandate for UN troops in the conflict-torn east Friday, while residents of a squalid refugee camp said government soldiers killed a woman during a looting spree.

A Startup Never Closes

Entrepreneur Entrepreneur