In a classic study published in Developmental Psychology in America, in 1973, researchers divided 90 pre-school children into three groups. One group was told to play freely with four common objects—among the choices were a pile of paper towels, a screwdriver, a wooden board and a pile of paper clips. A second set was asked to imitate an experimenter using the four objects in common ways. The last group was told to sit at a table and draw whatever they wanted, without ever seeing the objects.
Each scenario lasted 10 minutes. Immediately afterward, the researchers asked the children to come up with ideas for how one of the objects could be used. The kids who had played with the objects named, on average, three times as many non-standard, creative uses for the objects than those in either of the other two groups did, suggesting that play fosters creative thinking.
As this research proved that children who were allowed to freely play objects came up with more ideas so do budding entrepreneurs are best known for generating ideas. One of the reasons is simply because you are free to challenge convention without consequence of competition reaction. You are not concerned if the idea makes people happy or cry. Many errors pardonable for new venture attract serious consequences for growth of business.
Budding entrepreneurs, in many cases, run ventures like a child who does nasty things and attract mild negative consequences. Moreover, established companies that try to run like a new venture will nosedive very fast. Your venture cannot remain startup for long. The entrepreneur should grow and take responsibilities for many decisions of the startup. The reality is that startups cannot grow beyond the entrepreneurs personal growth.
Read also:https://archive.businessday.ng/enterpreneur/article/budding-entrepreneurs-latch-unto-co-working-models-boost-business/
Many budding entrepreneurs are like children known for curiosity, murmuring, energetic, exploratory, moving, seeking stimulation, and playful. In the time of challenge, chances are that they cry for help, raise alarm and for rescue.
What began as fun, passion, and dream may seem to be hurting because of challenge. Most likely, it is at a season of transition but new capability will be required and some ideas have to give way. The fact is that some of the skills learned as a lively, energetic and passionate budding entrepreneur have abundance of application in the transition stage of business expansion. It is important that during the transition change, certain attributes common with budding entrepreneur have to be put away and it really depends on the leadership growth of the entrepreneur. I will mention some ideas that budding entrepreneur will have to drop off for the startup to grow.
Put away the idea that you are not “vulnerable to serious risk and crashing”.
Children rarely think risk until they are badly hurt. Many budding entrepreneurs are unconscious of risk and don’t necessary consider risk analysis. It was not part of the thinking of a child to consider risk while making decision. A child will take risk and the parents will be responsible for the adverse effect of the risk.
Put away “coo marketing style”
Have you not noticed that a child will usually murmur to influence her parent for support? What about a budding entrepreneur who appeals to family and friends to buy products or services? Both will coo for support and patronage using sentimental advantage. To transit successfully to growth business and expand, you will need to drop the idea of “coo marketing” and develop services and products that attract patronage and are competitive because of their quality and values.
Put away “special toy mentality”
Children will prefer to hold special toy to doing school assignment. In southwest Nigeria, where I operate, I have come across startups CEOs who rather than invest in personal development spend funds buying adult toys such as cars, electronic gadgets at the expense of the enterprise investment fund. It is important to delay gratification in order to transit the venture into profitable business before personal reward with exotic toys.
Put away “peers that distracts”
It is very important to love people and you have choice of relationship that aligns with your venture vision and values. Budding entrepreneurs with new venture are usually social like children. They are quick to accept friends and family. Sometimes they employ their families either to cut cost or because of sentiment. A new venture really needs relationship and it does not matter the mix because of the need to sell. As time goes on, the CEO must put priority on purposeful relationships and put away people who are there to distract in the transition processes. Sometimes, some members of your staff will have to resign for the venture to transit successfully to the next phase.
Dear friend, there is wisdom in the Paul’s adage: “When I grew up, I put away childish things.”
Olusegun Mamora
Mamora is a business people system consultant & columnist
