I went to school; I’m trained and I’ve common sense. Aren’t they enough to help me successfully build the business that I want?
"I worked two jobs and also took a loan to open that bakery – my own small bakery.Amanda*, Baker and Former Bakery Owner.
Yeah, I've been baking all my life.
I trained with my father, who's also a baker.
And I also learnt a bit more about baking in culinary school and even worked in different bakeries before I opened my own.
I did really think that, all I needed to run my own bakery was common sense and hard work.
And for the 3yrs that the bakery existed, I tell you, I never made any profits.
But the bills never stopped coming. They just kept piling up.
I owed money to suppliers, friends and even my employees.
Owed so much money that, none of my suppliers wanted to do anything with my bakery anymore.
I tell you, those 3yrs felt like 10yrs.
In the end, I had no choice, but to close the bakery and sell the equipment to pay off some of my debts.
It took me almost 5yrs to open that shop; but it only took 3yrs to lose it."
"I did talk to a few people before I got into this business.Kojo*, Entrepreneur and Owner of a Small Fashion House
So, I knew how hard this was going to be from day one.
But I was really confident I could figure things out.
With a Degree in Mathematics and a bit of common sense, I felt I had enough to succeed.
But I tell you, every day feels like torture.
Even little things make me feel like going into this business was a huge mistake.
It's been 3 years now and I'm still nowhere near the business I want. Rather on the brink of shutting down.
I’m exhausted, I'm physically and mentally exhausted.
Honestly, I'd get out of this business if I get the chance.”
* Names in this article have been changed.
I really do understand why anyone would think he can easily own and run any business he wants and succeed.
Why not?
Just take a look around you.
Almost everything you use right now, was created and delivered to you by some sort of business.
Businesses are so much a part of our daily lives that, we see it as the most obvious thing in the world.
Everyone easily assumes he or she already knows:
- what businesses are,
- what they do,
- and how they work.
But things are really not that simple.
Business is actually one of the most complex and multidisciplinary areas of human experience.
In layman’s terms, it’s messy, confusing and very demanding.
“Nothing can prepare you”
So much so, that nothing can actually prepare you for the ups and downs (or the pain) of owning and running a business.
Not your education or talents, or training or even your experience.
You’ll face a lot of things that you don’t know how to do, that require skills you don’t have.
So, applying common sense to something that complex, would be the most insane thing you could ever do.
Yes, common sense does work – like for little things in your everyday life.
But for you, as a business owner and CEO, common sense is DEADLY.
“Can’t rely on common sense“
Not just that.
Common sense is stupid.
You see, when you call yourself a business owner or manager, it actually comes with a unique responsibility.
It’s a role that requires you to be smart, brave and do the right thing every single time; in the face of very difficult situations and shitty choices.
And trust me, those difficult and shitty situations barely stop or get easier.
On the other hand, the only best thing common sense could ever do, is to tell you to do what’s popular and easy.
And in case you haven’t realized it by now, most popular things (especially in business) are wrong.
So, NO.
Common sense is only NOT enough. It’s unnecessary.
“Get the business skills locked down“
Look, you can’t always cut corners – not in business.
It’ll always come back to bite you in the ass.
Sometimes, you do need to learn the right skills or seek help from people who do have those skills you need.
Especially, when you’re trying to build something that:
- runs itself,
- makes you money
- and gives you the freedom to live the life you want.
It’s not enough that you’re educated or technically good at what you do.
You’d simply need business skills to build a business like that.
Now, I’m not saying you need to have an MBA or anything like that.
Hell no.
In my opinion, anyone can succeed in business, regardless of their education, talents or whatever.
As long as, you give your business the right set of business skills it needs.
“Not too late”
It might be too late for Amanda; but not for you and Kojo.
You still have a chance to do a good job as an Owner and CEO.
After all, everybody learns to be a CEO by being a CEO.
You’ll be OK, as long as you:
- stop making assumptions.
- don’t think you know everything.
- are always willing to learn; and always willing to ask the right questions.
- surround yourself with people who know things you don’t know and can do things you can’t do; or better than what you can do.
Small To Sprout 