Christopher V. Flett

Q: I have a business idea that I’ve researched, studied, and planned for. I want to launch it next month, but my family, friends, and colleagues have been saying that it isn’t really possible to start a company at 25 and be successful. The consensus is that I should put a few more years into the corporate arena (I’m in Sales), before I launch my own thing. What are your thoughts? Anna Salende, Milwaukee, WI

Hi Anna,

Thanks for your question. Let’s transport ourselves back 40+ years before the Internet, Blackberry/iPhones, the Concord, cell phones, etc. LIfe was basic. Imagine at that time saying, “let’s strap a couple of guys into a rocket, build a life support system, and shoot them onto the moon to collect some samples. That sounds like fun!” At the time, this was a huge leap, but truth be told, considering where technology was, it was crazy. But someone had the guts to stand up, step out, and talk about possibility.

I’m guessing that the people suggesting this to be ‘too early’ are also employees? It sounds like you are approaching risk in a calculated way (research, planning, etc.) which is exactly what we recommend at the Ghost CEO. Going in with your eyes open and getting into the market is a wise approach. The best time to start moving towards your business is today. I’m not sure how you will learn any more about business, by staying in your current job for the five years. When I left my corporate gig, everyone (minus my Dad) thought I was crazy. My mom wanted me to go straight into a grad program and my friends were offended I would leave the job I had (it was extremely coveted by guys in my age bracket). My worst day of self-employment was still better than my best day in a job.

But don’t get me wrong. Building my business was hard. Really hard! Was I scared? Hell yes. I nearly messed my pants on a daily basis. I was in so far over my head that I barely knew which way was up. There was no ‘coaching’, leadership, or mentorship available in my town. Instead, I had to seek out business leaders, observe them, and figure out how to emulate what they were doing to get similar results. I listened to how they spoke, watched how they marketed themselves, dissected their business models, and picked up every tip I could.

I came out the back end of it with more experience in that first 12 months than I would have ever learned in a corporate job. I believed in myself and knew that I would live or die (professionally) by the decisions I made and I found that to be exhilarating. Now that I have achieved a certain cache in business, I see those same old contacts who tell me how ‘lucky’ I am. Luck has nothing to do with it. Here are the basic ‘tools’ you need to make your model successful:

• Commitment. If you want to be in the game, you have to be all in.
• A plan. Only 1.75% of North American businesses have a plan written down that they follow. Of this group, their success rate is 90%
• A realization that it all depends on you (this will either inspire you or could smother you so consider this carefully). If this control drives you, jump in. If it suffocates you, stay in your job.
• Mentorship, Find the right, objective adviser to work with you. Do not take entrepreneurial advice from employees, or people who haven’t proven their ‘metal’ in business successfully.
• An unending hunger for new business tools and information. Since 1998, I have read one business book a week. Some long, some short, but in total, I’ve consumed over 600 business books.
• The ability to follow your plan with single-focused vision. You have to stay on course.
• Faith. Belief that it can be done and you are someone who can do it (unlike the armchair quarterbacks in your life who are too scared to try)
• An impatience to wait. I know many people who have a dream, but are ‘waiting for the perfect time’. Now is the perfect time. The work doesn’t get easier if you wait.
• The ability to determine the winners from the losers. If you hang out with people who make excuses, you’ll make excuses; if you hang out with winners who get it done, you’ll do the same.

When you make the leap, fully commit, and drive towards building your company, you’ll be rewarded with great revenue, great clients, and a lot of flexibility in how you life your life. The president of our University pulled me aside just before graduation and said, “Chris, go to Law School. I worry that if you don’t you’ll amount to nothing.” (Asshole). This was a guy with two PhD.’s and who didn’t like the fact that I stirred the pot as a member of the student government. Fast forward seven years and I get a letter from him telling me that I am ‘distinguished Alumni’ and asking for a contribution of $150,000.00 for the new Business Building on campus (keep in mind I was an Arts student). They would even name a room after me (thrilling). He’s a fence sitter, I’m a fire starter. Big difference. For you, there is no limit to what you can achieve. Listen to those that have done it, not those that were scared to step out. Look at everything amazing around you. It all started with an idea, commitment, and a plan. Every time JC and I are lounging on the couches at the Ritz Carleton in South Beach, FL, drinking frosty drinks in the middle of the week, I think back to the decision to make the leap and leave my corporate gig. If I hadn’t made the decision, I could be sitting in a crappy little office on that same Wednesday, working with people I don’t respect, doing work that doesn’t matter, and counting down the decades till retirement, when I could then travel to Miami (at 60), sit on a deck, and have frosty drinks. I like fast forwarding the good stuff sooner than later. I hope you do too!

This is your year to be amazing! Will you listen to your inner visionary, or to the external critics that are waiting the required decades for retirement?

As always, your comments, questions, and stories are welcome.

Best,

Chris.