Seen.
Cross patch
A founder recently told us a story about managing someone in their team who made a mistake. It was the kind of thing he'd usually get cross about.
This time, he decided to stay calm.
The outcome was that the person responsible kept ownership of the problem they had created and worked hard to fix it.
The founder said that when he got angry, he found people were less likely to fix a mistake they had made. They would walk away. Often he would end up stepping in to fix it himself. Staying calm led to a better outcome.
For founders, passions run high. But as they gain experience we notice they focus more on outcomes. They get better at choosing the response that gets them what they want, rather than reacting and leaving it to chance.
Read.
Cabbage patch
According to the BBC the supermarkets are about to have a price war.
In some cases they are demanding a 50% price reduction from their suppliers.
We empathised with these suppliers. Doubtless many of them founder led businesses. We reflected on one of the biggest challenges many founders confront: When to say no.
Especially when it's a big name client, or a client that has got too big, or when times are tough, there can be a big temptation to say yes to everything. Even to bad business that could hurt the company for years to come.
Whether you sell consulting or cabbages, do you know where the lines are drawn in your business? Have you done the maths to know when a deal is bad business?
When do you say no?
Learned.
Pumpkin patch
Perhaps the article above was a reminder. Things are going to be tough over the next few months.
Many founders will be looking for radical, quick solutions. There will be a lot of people out there claiming to have them. At a price.
But there are no silver bullets, and sadly little magic. Turning pumpkins into a golden carriages is the stuff of fairy tales.
It can be better to listen to the people who tell you what their solution can't do. Those who are clear about when their solution is not the right one are more likely telling you some truth. In tough times we need truth more than ever, even if it can be hard to hear.
How will you avoid shopping for non-existent silver bullets - whilst staying open to shiny ones that can really help?
And finally.
One of the businesses we're working with, TiPJAR, is making a big splash in the world of cashless tipping and is about to launch a crowdfunding round on Crowdcube.
If you'd like to get early access you can find out more here.
Don’t forget to check out the accompanying podcast version of #founderhacks for a tantalising live experience of team atomex!
