How to Embrace the Journey: Nexthink’s Co-Founder Reflects on 20 Years of Lessons Learned
As one of the Co-founders of Nexthink, I’m often asked how we managed to not only survive but thrive in the competitive technology industry. While I can’t give you a single answer, there are a few underlying principles worth highlighting.
Embarking on the tumultuous journey of entrepreneurship requires more than just a brilliant idea or a groundbreaking product. Instead, success in the startup world demands a delicate balance between harnessing the forces that propel you forward and navigating the obstacles that threaten to derail your progress. To master this delicate dance, entrepreneurs must understand the key boosters and breakers that can shape their trajectory.
The advice below is based on my personal experience with Nexthink and the two decades I’ve spent helping technology companies scale.
Boosters
Boosters are the intangibles that can accelerate growth and ensure longevity. I’ve found that there are 3 principal boosters which matter the most:
1) Authentic Passion
Authentic Passion is a vibrant force that fuels purpose. There’s nothing logical or rational about passion, but it is critical. It's the spark that lights in your eyes and the smiles it puts on your face. Passion emanates from the heart and stomach. It drives people forward, unlike motivation, which fluctuates based on reasons and goals. Authentic passion transcends control and fluctuation. It resembles the simplicity and straightforwardness of George Mallory's response when asked why he climbed Mount Everest: "Because it's there." Passion is so much more than motivation; it's the fervor and authenticity you have for what you're doing.
2) Permanent Consciousness
Permanent Consciousness is about mastering a complex equation that keeps changing. You have to be constantly aware of oneself and one's surroundings. It entails a deep understanding of market dynamics, customer needs, and internal capabilities.
Conscious entrepreneurs remain vigilant, constantly scanning the horizon for opportunities and threats, and are willing to pivot their strategies in response to changing circumstances. Being a conscious leader means you look after your team by making sure that everyone feels understood and supported.
In order to organize the team to maximize its efficiency, you have to ensure each individual component is strong and capable of working all together.
To me what is key with consciousness is that it is not static, it’s something that is highly dynamic and contextual, and collective. Successful lasting startups/leaders are continuously adjusting their consciousness about what is going on, how people feel, etc. They’re also able to assess their own egos and separate feelings versus facts, hold the two under the light, and make decisions without beating themselves up.
3) Continuous Adaptability
In the fast-paced world of startups, continuous adaptability is absolutely vital. Every successful entrepreneur I know embraces change as a constant and cultivates a culture of adaptability within their organizations. They view setbacks as learning opportunities and iterate rapidly based on feedback and data. Continuous adaptability enables startups to stay ahead of the curve, outmaneuver competitors, and capitalize on emerging trends.
Continuous Adaptability extends beyond startups and innovation too; it's a crucial skill for navigating the complexities of both internal and external environments. While adapting to internal elements within your organization and ecosystem may seem straightforward due to familiarity and control, the real challenge lies in adapting to external factors.
Resisting or attempting to change uncontrollable external elements, much like the unpredictability of weather forecasts, can be futile and draining. Instead, embracing adaptability requires acceptance, resilience, and a willingness to improvise. In entrepreneurial journeys where feedback and data are often scarce, relying solely on these metrics can lead to misguided decisions. "Creative Adaptability" emphasizes the importance of questioning, planning for diverse scenarios, and leveraging intuition over data. It encourages entrepreneurs to innovate and adapt while carving their unique path, even in uncharted territories where no predefined directions exist.
Breakers
Of course, breakers are the things that can drag your business down and leave you behind. You have to be willing to recognize and categorize your problems so they don’t instigate a state of startup paralysis.
Breakers will happen, but you have to keep moving even if it’s at a slower pace. The successful entrepreneur doesn’t freak out and stand still because the speed of the company or market slows down. Instead, they work on keeping the project/people moving. Movement and energy determines your ability to pass through stormy times and thrive.
1) The Fear of Uncertainty
Uncertainty can have a paralyzing effect on an entrepreneur and the entire organization. What would you do if your mountain guide suddenly stopped and looked worried? You would probably freak out and freeze.
The antidote to uncertainty is movement. Even if you take just it step by step, that’ll help you to anticipate, to communicate, and to adapt. Movement awakens all the other senses that are necessary to carry your organization forward and see the future with more clarity!
2) Arrogance
Arrogance blinds entrepreneurs to their own limitations and inhibits collaboration and learning. It breeds a sense of complacency and entitlement that undermines the humility and open-mindedness needed to succeed in a rapidly evolving landscape. Startups led by arrogant founders are prone to tunnel vision, dismissing valuable feedback and alienating potential partners and customers.
3) Dependence
Dependance is about tools, data, and technology (not the things you sell, but the things you use). Be careful, these are what can blind you from genuine consciousness of reality. How many times have you heard someone say “look at this tool’s dashboard, it says we need to do x-y-z”. Use smart tools but don’t become dependent on them. Your senses, judgment, and intuition matters just as much as any piece of technology, and that’s what can separate your company from the competition.
In addition, relying too heavily on external factors or individuals for success is a recipe for disaster. Dependence on a single customer, investor, or technology can leave startups vulnerable to disruptions and fluctuations beyond their control. It stifles innovation and limits autonomy, constraining the ability to pivot and adapt to changing market conditions.
The Law of Luck/Adversity
Both good and bad luck can play a significant role in the entrepreneurial journey. You can sometimes be saved by luck, and sometimes broke by bad luck. While some factors are beyond our control, how we respond to adversity ultimately determines our fate.
Successful startups leverage their boosters to capitalize on fortunate opportunities and then adopt to mitigate the impact of unfortunate setbacks. They remain resilient in the face of adversity, turning obstacles into stepping stones on the path to success. Mistakes are not the opposite of success, they are the ingredients of success.
The Underrated Power of Imagination and Teamwork
The entrepreneurial journey is not a solo endeavor but a collaborative effort fueled by diverse perspectives and complementary skills. While hard skills are valuable, the ability to improvise, innovate, and adapt to uncertainty is equally essential.
The right attitude is key. How your team manages issues, uncertainties, and extreme changes is a good predictor for the company’s future. It's easy to work well together when the waters are calm. But truly successful teams embrace organized improvisation, combining creativity, intuition, and risk-taking to navigate choppy waters.
How Can you Instill Boosters and Handle Breakers?
To thrive in the face of uncertainty and risk, startups must cultivate an environment that encourages experimentation, embraces failure, and fosters mutual support. Key focus areas should include:
- A culture of creativity and trust.
- Clear communication and alignment around shared goals and values.
- Cross-functional collaboration and diversity of thoughts.
- Adaptive leadership that empowers teams to make autonomous decisions.
The greatest danger in life is avoiding adventure. You need a culture that has an appetite for risk. Your mind needs to be in a state of constant rebellion against the status quo.
In conclusion, the path to startup success is fraught with its challenges and uncertainties. But if you harness the power of authentic passion, consciousness, and continuous adaptability while mitigating the impacts of fear, arrogance, and dependence, you’ll be able to navigate the entrepreneurial seas with confidence and resilience.
These are exactly the ingredients that make Nexthink such a special place and I hope to see it lead the way for another 20 years.
