Entrepreneurship

Running a Marathon is NOT like running a business

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Terry Gold Marathon

Many years ago I got the idea that running a business was like running a marathon. Or better yet a series of marathons, with the occasional sprints as needed.  Well, last Sunday I ran my first marathon and I have to say it was EASY compared to running a business.

There are some similarities, and some really big differences and I've learned something about myself, which was the point of running the marathon in the first place.

Here are some of the similarities of running a marathon and running a business.

Both require a certain amount of preparation and planning before starting.  If you don't plan, you have a very high chance of failing to finish, and you'll likely be miserable from the very start.  There are a lot of people who have ran marathons in Boulder, and I talked to quite a few during my training so I didn't have any big surprises while running.  Thanks Herb, Brad, Jim, David and everyone else who encouraged me to do this.

When Jim and I started Gold Systems twenty years ago, I only knew a couple of entrepreneurs, so we made a lot of rookie mistakes that we could have avoided if I had known more entrepreneurs at the beginning.  If you are thinking about running a marathon or starting a business, find others who have done it who are willing to give you the important tips that you won't find or notice in the books. 

It helps to know what to expect.  It was easier to learn about what I was in for with the marathon than it was for the business.  Having people give you advice is great, but it also really helps to hear what it is going to feel like once you are in the race or working in the business.  For instance, I was not prepared to think about my business every waking moment, which I did for many years.  I had no idea it was going to be so consuming.  Had someone told me that it was normal early on, I think it would have been easier.  I've learned to give my brain a break, but the business is still there ready to jump to the forefront of my thoughts anytime day or night, but now I know it is normal. 

Have fun.  One of the best pieces of advice about the marathon was to "enjoy the run."  Whenever I started to feel bad, I reminded myself that this was supposed to be fun, and somehow that helped push the pain away.  Come to think of it, I'm finding that works in business too. In business some entrepreneurs seem to brag about how miserable they are, and how much they sacrifice for the business.   I've been that guy, but If you find you're having a lot more bad times than good times, it means something is probably wrong and an adjustment needs to be made.  I'm a much better leader when I'm having fun, and I'm a much better runner when I'm having fun. 
Pain is temporary.  Until last Sunday, I had never ran more than 20 miles, but I was confident that whatever pain and soreness I would have right after the race would be gone in a few days, and it was.  I've had more painful days while being an entrepreneur than I experienced with the marathon, but I still sometimes forget that the next day, the next week, the next month, it will be better.  I like to say that lessons will be repeated until learned, but hopefully the next time I have a painful day I can remember that I just need to get through it and then things will be better. 
Now for a couple of big differences between running a marathon and running a business.
Focus.  Phylis pointed out to me that to run a marathon, you pretty much just focus on finishing, but in business it can be very, very hard to focus.  In business I've come to terms with the idea that there are more things to do than there are hours in the day.  It's my job to figure out which things I should get done and which should get passed on to others, or simply left undone.  There are always more good ideas and opportunities to consider than time and resources allow, so I think it is much harder to focus in business than it is to just keep putting one foot in front of the other until the marathon finish line is crossed. 
The Finish Line.  Cindy pointed out that in business there is no finish line, or if there is, you don't usually know where it is.  That's an amusing thought to me.  Consider a race where everyone lines up not knowing how long the course is, or whether it will be hot or cold, hilly or flat.  Then somewhere along the way, someone yells, "finish line in 1 mile!" and everyone starts sprinting.  Then the runners hear, "just kidding, keep running."  In business I've seen entrepreneurs quit because they got tired of the race, or they thought that they somehow had entered the wrong race. 

So there you have it.  Running a business is a little like running a marathon, but running a business is in my opinion a lot harder and I think even more rewarding.  Stay focused, keep putting one foot in front of the other, be prepared to change when the race changes, and above all, enjoy the race as much as you can.  

 

Update 10-21-2011.  The marathon is done, I'm completely recovered and ready to go again.  I'm getting up early and jumping on the treadmill and I'm looking forward to the weekend for a long run outside.  Thanks to everyone for the comments!  Greg put a link to another post into his comment about running and entrepreneurship, and it is really worth checking out.  Here it is:  http://blog.finette.com/post/11370209405/never-walk-a-talk-about-entrepreneurship-and-running

 

Update 10-28-2011.  Soon after I posted this, I received a very nice email from Miguel Chang who lives in Taiwan and has a website called Sportsnote.com.  Miguel asked if he could translate my blog post into Chinese, and of course I was happy to have him do it.  Here is a link to this post at Sportsnote.com   Thank you Miguel!    

 

Sportsnote page

Carmin Turco is playing in Boulder Tuesday night

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CarminTurco2 Carminturco 

Carmin Turco is an entrepreneur, and I met him when TechStars selected him and his partner Sebastian Replanski as one of the very first companies that they brought to Boulder in 2007.  I soon learned that Carmin was also a musician, and a very good one at that, with tours and CDs in his background.  We became good friends and now he's making a quick trip through Boulder this week, and he's got a gig where you can hear him play.

Carmin will be playing at the Rock N Soul Cafe Tuesday August 16th at 7:30 PM.  The Rock N Soul is a nice little venue with lots of live music, located at 5290 Arapahoe in Boulder.

I'll be there, and I hope you can make it too. 

CarminTurco 

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Photo 5 Wow.  Twenty years ago today, Jim Fudge and I received the incorporation papers for Gold Systems.  But that's not quite the beginning of the story . . .

The summer before, Jim and I spent the day together at the Boulder Kinectics Race.  I tell you that because that was actually the day we decided to start the company.  We spent the day in the hot sun, eating junk food, and watching crazy people have fun.  That evening we talked about why we weren't having more fun.  The reason was that we had to go back to work on Monday at a big company, and Jim uttered the words that changed everything – "Let's start a company."

We started getting together after work to talk about it.  For me, I realized it was really going to happen when I told Jim that I had found a used AT&T 3B2 computer for sale on Netnews that we could use as our development machine.  He whipped out his check book, signed a blank check and handed it to me saying, "do it."  I was blown away, and it was the first of many selfless acts by Jim and many, many other people who helped to get Gold Systems to this anniversary.  (We didn't buy that machine, and I still have that blank check . . .)

This anniversary is about Gold Systems, and the people who've helped make it work.  Thank you all, I am truly grateful to have been a small part of this.

 Photo 1

The original founders, left to right:  David Appell, Terry Gold, Jim Fudge, Kevin Obenchain.  Not pictured, but also there from the early days was Kathy Bishop.  Thank you all for helping us get started!  Update:  Check out David's blog post.  Thank you David!

Photo 2 

Jim drew up the first business card design.  Note the email address.  The "at sign" had not been invented when we started Gold Systems.  The phone number was my home phone number at the time, which we still have as Gold Systems' main number. 

Photo 3 

At our open house, Vince Fresquez surprised us by having the company name put on the door.  Thank you Vince!

There are many more stories to tell, and many more people to thank.  Until then, please know that I appreciate everyone who has helped us to get to this day!

Terry

Lync User Summit 2011

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Gold Systems will be exhibiting at the 2011 Lync User Summit June 9th and 10th at the Westin Denver in Westminster, Colorado.  This is the second year of the summit and it is the place to be to learn more about Microsoft Lync.

The first summit in 2010 was focused on Office Communications Server and the talk then was all about the upcoming release of the next version of the software.  That software of course was Microsoft Lync and it is changing how we communicate.  Gold Systems has deployed Lync for many customers and our newest product, Vonetix 7 Voice, is one of the first new products to work with Lync by UC enabling IVR applications for both Microsoft Tellme in the cloud and Lync on the premises.

For more information, click here.

Also check out the Lync User Forum at http://lyncuserforum.com

Gold Systems Vonetix Interview on Microsoft Channel 9

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A few weeks ago I was in Redmond and did an interview with Larry Larsen at Microsoft's Channel 9. It was a lot of fun, and Larry and Kai made it so easy. Larry was interested in how Gold Systems had used Microsoft developer tools and the Microsoft Lync platform to build our new Vonetix 7 Voice product, and he did a great job of capturing the kinds of applications we can build, as well as the tool and platform underneath the applications.

I'm amazed to see that as I write this, the interview has had over 12,000 views and it just went up on four days ago! Wow, thank you Larry, Kai, Albert and everyone else at Microsoft for giving me this opportunity to talk about Gold Systems and our newest product!

For more information on Microsoft Lync, go to http://www.microsoft.com/lync

Looking for women CEOs in Colorado

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If you are a female CEO, President, Principal or Partner of a company with revenues of more than $1 million, or if you know someone who is, please take a look at this.

My good friend Jana Matthews is working to start a Women CEO Forum in Colorado.  The forum will consist of 12 women who are leaders of non-competing companies each with revenues over $1 million.  An introductory reception will be held at the City Club that will include a number of successful women speakers, including Heidi Ganahl, Founder and CEO of Camp Bow-Wow, Sherri Leopard of Leopard, an Ogilvy Company, and Diane Gibson, Founder and President of Craters & Freighters.

Having been a past member of YEO (Young Entrepreneurs' Organization, now EO or Entrepreneurs' Organization) and YPO (Young Presidents' Organization) I can say that being a part of a great peer network was one of the best decisions I ever made as an entrepreneur.  You may think you don't have time, but as my friend Tim Miller used to say, it doesn't cost time, it makes time for you.  Imagine every month getting together with 11 other CEOs, who are there to help and to share what they have learned about the problems you are having right now.  Jana helped in the early days of YEO and I know she will set up the Forum so that egos are checked at the door, everything is confidential and the entrepreneurs create an environment that helps everyone.

The reception is open to anyone who would like to know more about the CEO forum.  Register by calling 303-666-5511 or go on-line to events@womenceoforum.com

 

Thoughts about the Xbox Kinect

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I said I would follow up with a post about the Microsoft Kinect, but Dave Michels beat me to it with a very comprehensive article about what this device might lead to for microsoft and software in general.  Check his article out on his blog pindropsoup.com

It's being reported that the device has outsold the iPad for the number of days its been on the market.  It helps that it makes a great gift, but then again the iPad is on a lot of people's wish list too.  What is certain is that the Kinect has exceeded a lot of people's expectations. 

Many people are saying the Kinect will change how we interact with computers, not just game consoles, and there is a hacker community hard at working making the Kinect do things that Microsoft never intended for it to do.  Drivers have been written for the PC, the Mac and Linux, it's been embedded in an R/C helicopter that can fly around obstacles because of it, and all sorts of new applications are being written for all sorts of crazy things beyond games for the Xbox.

Dave mentions in his article that some Microsoft people aren't happy that the device has been taken beyond the Xbox, but I've heard a different story.  I think that Microsoft gets that it is a great thing that people are coming up with new uses for what was supposed to be a high end toy.  I believe Microsoft themselves will take it beyond the living room if the Lync launch was any indication.

If you still aren't convinced, you have to watch this video.  The real magic is in the software, but still – this is amazing!

 

Windows Phone 7 with Google

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I just returned from Microsoft's Worldwide Partner Conference in Washington, D.C.  As predicted, the number one topic was all things cloud, but number two might have been Windows Phone 7.  I saw several live demos, and I'm very curious about it.  When Microsoft began giving away copies of Visual Studio 2010 with the SDK for the phone back in March, I downloaded it and built my first toy app.  Since I had just reacquainted myself with Visual Studio 2008, it was very familiar and easy to get a demo app going.

Today I saw this article on what's coming with Windows Phone 7, and it gives more details than any that I've seen before.  It also addresses the catch 22 that Microsoft will be in at launch.  They lost ground to Apple and Google (and they weren't shy about admitting that at WPC) and so they have to get apps to attract users, but the users won't buy if there aren't apps.  If you read the article above, one of the commenters complained about having to use Bing instead of Google .  So I wondered – how fast could I write an app for Windows Phone 7 that would give the user a Google search box when they launch the app?

The answer is: thirty-five minutes and fourteen and a half seconds. 

Googleapp

Mind you, I never was a real engineer, and my coding skills are very rusty.  To be completely honest,  I am very slow and for this app I was going at the snail's pace of one line of code every 12 minutes.  That's right, this app took three lines of code, and I copied them from another app.  The only thing slightly original was figuring out how to build the http request, because Google wouldn't let me use the mobile version of Google, wrongly believing that I was on a desktop browser.  It kept serving me a page suggesting that I let them send a text message to my mobile device.  Anyway, here are the three lines:

    string site;

    site = "http://www.google.com/search?q=" + textBox1.Text;

    webBrowser1.Navigate(new Uri(site, UriKind.Absolute));

 

I also had to drag a couple of user interface elements (text box, button, browser) onto my app, and I did modify two or three strings in the code it generated for me so that the button would say "Google Search" instead of "Button."

 

It really was that easy, and because of that, I think Microsoft has a shot at getting some great apps on the device in time for launch.  The development environment is completely free and it will run on a really cheap laptop.  And if you have any Visual Studio experience, it's going to be really easy to pick up.  (I know the image above looks like a photoshop image, but I swear the app is real and running in the emulator.  That's really how it looks)

 

I'll definitely be getting a Windows Phone when they are available "late this year."  The interface is completely different from Windows Mobile, or iPhone or Android.  We'll see if different is good, but it is already getting some good press from the people who are lucky enough to have evaluation devices. 

 

Hey Microsoft, how about sending one my way??

 

 

 

 

Happy Talk from Jeff Thredgold

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I've subscribed to Jeff Thredgold's newsletter for probably two years now.  He's an economist who can talk about economics in an interesting, entertaining and understandable way.  He's not afraid to give an opinion or to say when he has no idea how something is going to work out.  Twice a year he does a "Happy Talk" newsletter where he only reports good news – the rest of the time there is usually a balance between dark clouds and silver linings.  I always end up forwarding that issue multiple times as it comes up in conversations and people want to see the whole list of good news items.  This time around I emailed Jeff and asked permission to reprint a few, and he quickly replied that I could.  Check out his website here and subscribe to his free email newsletter if you like it.

I had a tough time picking the items to reprint here, so check out the list on Jeff's website.  To read the list click here.  Now for some good news:

• Donations to charities were near the all-time high in 2008, with more than $307 billion donated by individuals, foundations, and corporations. As a percentage of GDP, Americans gave twice as much as the next most charitable nation…England

• Smoke-free laws in restaurants, bars, the workplace, etc. reduced the rate of heart attacks by an average of 17% after one year in those communities where the bans had been adopted

• The income of women worldwide is expected to rise by $5.1 trillion by 2013 to $15.3 trillion, an increase of one-half

• U.S. exports to China have risen roughly 24% per year since 2001, making China the fastest growing market for U.S. goods

• Violent crime declined 4.4% during 2009’s first half, versus the year before.  Violent crime overall is down nearly 60% since 1993, with violence by teens down 71%.  School violence has declined by half from a decade ago

• Flexible work schedules are now the norm for 43% of workers, up from 29% in 1992 and 13% in 1985. This allows greater flexibility for more people, especially those with children

Thank you Jeff for allowing me to share your Happy Talk!

The Leader’s T-Shirt

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“The

An entrepreneur friend emailed me this week and asked to remind him of a story I once told about the leader's t-shirt.  I had told him that I liked to imagine everyone on my team wearing a t-shirt that said, "I approve of how you treat people and they should follow you" and then my name would be signed below that quote.

If the idea of having a particular person on your leadership team wearing that shirt makes you sick at your stomach, it's time for them to go.  I think the idea should really apply to everyone in the company, but let's stick with the question I was asked.  If you have someone in a management position that isn't treating people right and setting a good example for everyone else, then they need to go.

Now my friend remembered the t-shirt story differently, but I like his version too.  He thought the story went like this  "if I could put a sign on everyone’s back and some signs read – I’m really not happy here—then it’s my job to find them out so I can fix it and they can end up at the place they’re supposed to."

I think he's combining my t-shirt story with Jim Collin's stories about having the right people on the bus and the idea of "First Who."  (Here's an audio recording of Jim talking about this – take a minute to listen to it and think about it.

One of my first entrepreneur lessons learned was that not everyone is going to be happy all the time, least of all me.  Sometimes it just isn't fun, and sometimes the hard times seem to go on forever.  That's life. 

What Jim Collin's is talking about I think is when you have someone who either doesn't fit the core values you are trying to maintain or they just can't do the job, and they aren't looking like they have the potential to ever be great in their job. People don't have fun when they are in a job that they aren't really good at.  If it is a skills issue, they are either in the wrong seat on the bus and you need to help them if you can, or they are on the wrong bus entirely.  And if they don't get that, you as a manager and leader need to help them get off the bus and not let them just ride around in circles on the wrong bus.  They won't ever reach their potential if they are in the wrong position and they are probably making other people miserable without even knowing it.  It sucks to tell someone they are on the wrong bus, but as a wise man once told him, "if you don't do it, YOU are stealing their life."

 

Thanks for the free t-shirt design template from Dennis Douven at Bytedust Visual Art & Design and Bytees.nl t-shirt shop.

Running

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Fivefingers

Here is a collection of links about barefoot and minimalist running.

Interesting post from Podiatry Today

Wikipedia entry on barefoot running

A collection of links about why it might be healthier to run barefoot

Make your own huaraches or just buy some Vibram 5 fingers

Links to some of the research done on barefoot running

A link to a group of minimalist runners

This link used to go to a story about running barefoot on RunnersWorld.com but the story has been removed and replaced with ads for shoes.  (Here is a link to the story that still works)

A list of shoes in order of suitability for running.  I have the Vibram 5 fingers and have never had any pain, but I bought the Asics Paranha and had a lot of pain after just a couple of miles.


the [beginners guide] to Vibram Five Fingers shoes

A good story about running barefoot

This is not a fad – you can run pain free  That’s been my experience!

How to run – a great set of posts about transitioning to barefoot or 5 fingers from the Birthday Shoes blog

A great post and link collection on the research behind barefoot running from the Birthday Shoes blog

Here’s how to get started.  Check out Barefoot Ted’s post.

How I lost 40 pounds in two years

 

Let me start by saying the first 30 pounds of weight loss happened BEFORE I started running or exercising.  About all I did before December of 2009 was to walk occasionally for a mile or two.  Then in December of 2009, I read Born to Run, and  because of that I started running and taking more of an interest in eating better foods.  Prior to that it was all about monitoring and controlling how much I ate, more than controlling what I ate.  And to say I was “controlling” makes it sound a lot harder than it really was.  I did not often feel hungry, and it didn’t take a super effort.  I just watched my weight every day, and I moderated how much I ate, especially when I was consuming more than I burned.  That really is the key – you must consume less than you burn.

 

I weigh every morning first thing before I eat, and again just before going to bed. My bathroom scales will compare the current weight to the last weight, so in the morning I’ve always lost 1.5 to 3 pounds. I’ve never gained weight while sleeping so that finally proved to me that weight gain is directly connected to eating. I also start off the day feeling pretty good, because I’ve always lost weight. It’s a mind game, but it helps.

 

I started tracking my weight at dailyburn.com which is a local startup that I met a couple of summers ago. It’s helped to see the progress, but it helps more to see when I’m gaining weight because then I can be more careful that day, not a week later when I’ve gained 5 pounds. The website is free, and I only use it to track weight. I use it to track my exercise, which for me makes it more fun.  Tracking your weight every day and writing it down, either on line or on paper is very important so you can watch for the trends over time.

 

I still eat everything I always did, sort of. I read the book ” The End of Overeating: Taking Control of the Insatiable American Appetite ” which has convinced me that the more fat, sugar and salt I eat, the more I want of it. The book is really about the brain and how it gets fooled by an overabundance of available food that is often designed to make us eat more of it. The chain restaurants build their menus based on this fact, so they are the worst. I still eat that stuff, but I’m more conscious about it.

 

I’ve cut the portions back, and found that I’m not hungry after a smaller portion. I tell myself, “If I’m still hungry, I can have more when I’m done” but most times I don’t, so I realize it is just my brain getting confused at first.

 

I go for walks about 3 times a week, but that’s all the exercise I’m getting.  (As of December 2009, I’ve been running 5k a day almost every day. )  There is evidence that more exercise just makes you want to eat more. I know it would be good for me, but it hasn’t been the key to losing weight.

 

It’s helped to think about it long term. I’ve lost about 18 pounds in 18 months, which means that’s only about a pound a month. Since I can lose 3 pounds over night, that’s nothing so you can’t think about weight loss in the short term. If you eat slightly less than you burn each day, you WILL lose weight. When I slip and eat more than I burn, and I gain weight, I catch it the very next day, and that day I’m a little more careful. That really seems to be the key.

Entrepreneur Ship Quotes

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Boat tile copy
 
I had dinner with a friend a few weeks ago, and he emailed me today and asked for the "Ship Navigation Quotes" that I have on my desk.

I've always loved the water and I enjoy being on it, in it and under it.  My first memory in life, I think, is of my first swimming lesson.  Mr. Epling said he would give a penny to the person who could duck their head under the water the longest.  My memory is of him lifting me out of the water by my bathing suit because I wasn't ready to come up.  I won the penny.

So – the quotes are really about life and entrepreneurship and they relate so well to what I've experienced since Jim and I started Gold Systems.

The picture that I started this post off with is of a ceramic tile that my wife brought home from the Netherlands for me years ago.  It says "De beste Stuurlui staan aan wal" which translates to english as "The best steersmen are ashore."  It's really easy to stand on the dock and tell the sailor what they are doing wrong, but it gives you a whole different perspective to sail into the storm and to be responsible for the ship.  If people are shouting advice from the dock, they might have good advice, but remember their perspective and that ultimately you and the other people on the boat are responsible for bringing it home safe.

The next one reminds me that good times are easy.

Anyone can hold the helm

"Anyone can hold the helm when the sea is calm."  According to the fortune cookie, Publilius Syrus said this in the first century B.C.  The next quote gets to that idea from another angle.  "A ship is safe in harbor – but that is not what ships are for."  by John Shedd.  The dates don't quite match the John Shedd from Chicago, but I'll bet it's him.

A ship is safe in the harbor

Too many boats (and people) spend their life in harbor because it is safe.

I am not afraid of storms

I've looked to that last quote a lot, especially in 2001 and again this past year.  "I am not afraid of storms for I am learning to sail my ship." by Louisa May Alcott. I'm not suggesting we should sail into storms just to become better sailors, but if you find yourself in a storm, try to learn from the experience and you'll be better prepared for the next storm.  You may still not like storms but after enough of them, you at least gain some confidence that you'll get through them. 

Before quiting my nice safe job (HA!) I thought that if I was in charge, things would be different.  Some are, some aren't. When things get tough I remind myself that THIS is what I wished for and I'm right where I wanted to be all those years ago.  If I ever cross an ocean in my own boat, and I find myself in a storm, I'll try to remember then that "I'm living the dream!"

(When typing in the tags for this post, I noticed the word EntrepreneurShip.  Coincidence?  I don't think so.)