So, I went to the Social Media Club’s tweetup in Bellevue yesterday. Interesting to meet people in person who you may know on twitter.
One of the more engaging conversations was with Pam Hoelzle, who is a business coach based upon her successful — and sometimes unsuccessful — ventures as an entrepreneur. We discussed how entrepreneurs and their companies become successful. Of course, we elaborated on cashflow management, execution of the business idea, planning, as well as eventual relinquishing of control.
In the end, however, we both agreed that TIMING is everything. She said, “I wished someone would have told me that when I was younger.”
So true. Think about anything significant in your life. Was not the timing critical? One second, one minute, one hour or even a day off and would you not have a different reality today?
In business, I have various personal examples. I was able to sell a relatively small analytics consulting company last March because we had assembled a very talented team. At the time, however, there was also a lot of buzz around marketing ROI, and acquisitions were rampant with a healthy capital market. Six months later everything changed. Timing.
Another company (that I follow) has had separate discussions for acquisition with two fortune 100 companies over the last seven years. Each time the discussions went deep into due deligence before unfortunate timing killed the deals (cannot elaborate at this time). The company itself is extremely viable and would have added tremendous value to either of the suitors. Timing.
In business and in life, notice and be aware of the role of timing. This allows me to understand what I can control and what I cannot. Just telling yourself to work harder is not enough. You need to work harder but be aware of the environment around you. Are the parts of what you are doing fitting in with what’s going on in your environment — in the world?
I try to plan ahead, work hard, be fair to others, and create momentum so that timing can work in my favor. Understanding the direction of your environment is an important way to fit in and open the best possibility of positive timing.
Sound crazy? Then, you haven’t had the experience of letting life work for you. When things are falling into place, you have a calmness of knowing timing is going to make the desired reality for you.
Hey John,
I definitely agree that timing is crucial, especially in novel endeavors. When I think of many of the great new products and services, many of them wouldn’t have made it had they not hit a certain hot spot in time.
Every year when a big new innovation comes out within a year there are hundreds if not thousands of people trying to copy the idea and capture some of the market. These people almost always have wasted their time. They are late. Like the people that watch Bloomberg to find out the hot stocks usually find out by the time its hot its already cold.
But don’t you think that there are many entrepreneurial ventures that are less time dependent? Ventures that aren’t novel necessary but who’s starters have a game changing idea.
For example if I were starting a company that made granola bars I won’t think that timing would be such an issue because granola has been around long enough that there is no fade around it.
-William
Thanks for writing, I truly liked your most recent post. I think you should post more often, you obviously have natural ability for blogging!
John,
Great to see you at the KAC social at Crimson.
I just finished reading Malcolm Gladwell’s “Outliers – The Story of Success.” Its a great book that talks about how how timing, even your birthdate, along with the life’s opportunities gives us a better chance at success.
Cheers,
Kevin
Great comments. As to William’s question of less novel ventures being less influenced by timing, I don’t think that is always the case. Even a very old concept of selling water was revolutionized when spring water was bottled like soda drinks. Water was basically free, and why would people buy it? Well, it was timing of marketing and the changing of mindset about healthy drinks.
Kevin, I’ll definitely pick up Malcolm Gladwell’s book. Curious about his perspective.
Thanks for your comments.
John
Just saw this post I am now following you on twitter. I’m
pamhoelzle on twitter. Would love to reconnect and learn more about what your current vision and interests are and share a social entrepreneural project I am working on that has both a local, national and emerging nation component, is a triple net bottom line model and is a re-invention of the old non- profit paradigm of focusing exclusively on the marginalized and invests in small business owners and unemployed professionals. If your interested would love to share the vision and who knows maybe you would be so moved you’d lend some of your genius to our advisory team…or not. I’d love to have coffee and get to know you!