I got my creative thang on a few weeks ago and decided to make my first infographic. Stay tuned – I will finish it this week and it will be distributed through the normal channels (this blog, my twitter – @chrisheivly, TSF twitter – @TSF_VC, etc.).
The exercise of gathering relevant and interesting facts about what we do was something slightly awkward for me. You see I spend so much time charging ahead (like most of us) that I had not taken any time to look back. At least in broad summary, data-driven terms. As we have matured as a seed investment fund, we have seen very real patterns emerge. At the end of every TSF session, Dave and I review what is working and what is not and adjustments are made for the next cohort. These are mainly tactical decisions. About 1-2 times per year we also take a day or two and go offsite to discuss future thoughts. All of that is standard playbook for most companies.
But I am talking about something different here. I am thinking more data-driven insights. So, I wondered whether some of you operate like I have and whether we all should take a few hours every so often to do an in-depth look back. The largest benefit would be some level of learning about our companies and ourselves.
The one pattern I am obsessed with the last few weeks is self-awareness. Really good entrepreneurs are very self-aware of who they are and as importantly what they are not. We work predominantly with first-time entrepreneurs. By definition you have some major blind-spots, gaps and serious issues. I like to think we act more like Andreessen Horowitz where CEO’s evolve and our job is to help them grow.
But to grow, one has to be brutally self-aware. What do self-aware CEO’s do and don’t do?
- They are transparent with their investors and staff as part of their culture.
- They openly discuss what they are comfortable with and what they are uncomfortable with.
- They don’t tell themselves those little lies about their lack of skills.
- They don’t bullshit anyone.
- They ask the tough questions and create an environment where everyone can ask those same questions.
- They don’t hide their doubts.
- They love feedback and can’t wait to get more. They listen and process that feedback honestly.
- They reach out to others for help. But do so in a checked-ego manner.
- They are true to themselves. No posser attitudes.
They are happy about who they are and what they could be when doing all of the above well.
Too often I see first-time entrepreneurs playing the role of CEO instead of being an honest operator in a ever-changing, multi-person team.
Just build a great business without all the ego. You will be amazed at the freedom that comes from releasing the burden of posing as a CEO.