This Saturday, November 2, 2013, I will be competing in my fifth Ironman Triathlon. For the uninitiated, the Ironman is a 2.4 mile swim, followed by a 112 mile bike, and finished up with a 26.2 mile run. As you can imagine, it’s a long day. The race begins at 7 am, and you must finish before midnight to be declared an “Ironman”. In thinking back on my previous racing and training experience, I’ve noticed several parallels between the race and running a small business. Here are four:
1)Everyone is Excited at the Start line
This race is the culmination of weeks, months, sometimes years of preparation. By the time you get to the start line, you are anxiously waiting to get it on.
I’ve seen the same with small business owners. They are excited about their new adventure, and can’t wait to take on the world. It’s an exciting time.
2) You must begin slowly
For the new Ironman participant, the temptation is to go out too fast. Adrenaline, combined with anxiety, can take over if you don’t make a conscious effort to hold yourself back. The results can be disastrous. All of your energy reserves are used up early, with many miles to go.
A temptation for small business owners is to borrow as much money as they can, open a storefront, buy beautiful office furniture, and the best computer systems. Resist it. Grow slowly. Anything that grows too quickly is cancer. Cash flow expenses. You have plenty of time.
3) It’s going to hurt at times
Choppy seas, headwinds, hills. No matter how well trained you are, this race hurts. Really hurts. There is evidence that triathletes can endure pain better than non-triathletes, but I must be an outlier in that study. It strips away any bravado you may have, and truly reveals your character.
In the life of any business, there are ups and downs. Sales go down, cash gets tight, good team members leave. It can amplify your personality, which can be a good or a bad thing. Make sure you have good counsel to help you weather the storms.
4) The reward is not the finish – it’s the journey
At the end of an Ironman, you get a medal, hat, and T-shirt. That’s it (well, that and bragging rights). If that is your goal, it is hollow and fleeting. I have surrounded myself with friends, family, and a club that supports each other and trains together. These relationships are the part that lasts, and the true reward.
As a business owner, you have the opportunity to serve your community by providing a product or service they want or need, while enabling your team members to make a living for their families. If your focus is only making as much money as you can, you will never be satisfied, and mostly likely won’t succeed in the long run (pun intended).
These are only a few examples. What are some questions you have about YOUR small business? Any parallels to other areas of your life? Comment or share below.
Please note: I reserve the right to delete comments that are offensive or off-topic.