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The Four Cs
ОглавлениеFor most entrepreneurs, their personal goals can be summed up by the Four Cs: Creativity, Control, Challenge, and Cash. Of course, we each want all four of these to some degree, but knowing which we most want or need can help us structure our companies to best achieve our goals.
For instance, my very first clients were the owners of a small sportswear apparel company. The designer began the business because she was good at—and loved—designing clothes. Her primary motivation was being able to act on her creativity. But an apparel company doesn’t run on designs alone. There is a myriad of purely “business” aspects of the company—sales, operations, manufacturing, etc. If she hadn’t planned for it, she might have spent the majority of her time on such issues instead of designing. Fortunately, she had a partner to take over those responsibilities. She gave up some control—which wasn’t a major concern of hers—to maintain her creativity.
Which of the Four Cs motivates you most?
Creativity. Entrepreneurs want to leave their mark. Their companies are not only a means of making a living, but a way of creating something that bears their stamp. Creativity comes in many forms, from designing a new “thing,” to devising a new business process or even a new way to make sales, handle customers, or reward employees.
If you have a high need for creativity, make certain you remain involved in the creative process as your company develops. You’ll want to shape your business so it’s not just an instrument for earning an income but also a way for maintaining your creative stimulation and making a larger contribution to society. But don’t overpersonalize your company, especially if it’s large. Allow room for others, particularly partners and key personnel, to share in the creative process.
Control. Most of us start businesses because we want more control over our own lives. Perhaps we want more control over how our good ideas are implemented. Perhaps we want, or need, more control of our work hours or conditions so we can be more involved in family, community, or even golf! Control is a major motivator for most entrepreneurs—usually more important than money. But how much control you need—especially on a day-to-day basis—directly influences how large your company can be.
If you need or want a great deal of control over your time, you’ll most likely need to keep your company smaller. In a large company, you have less immediate control over many decisions. If you’re a person who needs control, you can still grow your business larger. You’ll need to structure communication and reporting systems to ensure that you have sufficient information about and direction over developments, to give you personal satisfaction. If you seek outside funding in the form of investors, understand the nature of control your funders will have and be certain you are comfortable with these arrangements.
Challenge. If you’re starting or expanding a business, it’s clear you like challenge—at least to some degree. You’re likely to be a problem-solver and risk-taker, enjoying the task of figuring out solutions to problems or devising new undertakings. Challenge-hungry entrepreneurs can be some of the most successful businesspeople, but they can also be their own worst enemies—flitting from one thing to another, never focusing long enough to succeed.
If you have a high need for challenge in your business life, it’s important to develop positive means to meet this need, especially once your company is established and the initial challenge of starting a company is met. Otherwise, you may find yourself continually starting new projects that divert attention from your company’s main goals. As you plan your company, establish goals that not only provide you with sufficient stimulation, but also advance—rather than distract from—the growth of your business. (Or take up skydiving on the side!)
Cash. Every entrepreneur wants to make money. Perhaps it’s just enough money to provide a decent income; perhaps it’s so much money you can buy a jet. How much you want or need affects how you’ll develop your business. Will you need investors, and when? Will you sacrifice control to grow the business quickly?
Keep in mind there are sometimes trade-offs between personal goals: Wanting more cash often means having less control; staying at the center of the creative process may mean you need to have a partner or grow slowly, once again trading off control or cash. Examine your personal goals and those of key personnel using “The Four Cs” worksheet on page 6.