Stay hungry stay foolish! I guess you’ve heard that before and today we’ll discuss why trying new things is crucial to the success of your business!
hello, I’m your host Kaycinho, I’m a digital alchemist, and this episode, is episode number four of a module dedicated to “the after-launch phase” of starting your business. So if you haven’t seen the first three episodes, I invite you to take a look at this playlist.
And by the way, this module is the fifth and last module of a course dedicated to take you from the burning desire to become your own boss to actually launching your business.
So if you want access to the full course (videos will be added until the course is complete) by clicking here.
Stay hungry stay foolish: try new things!
So why is trying new things important for your business, and what do I actually mean by “things”?
Well I could have started by asking you “Why Research and Development is crucial for your business” but I think that “trying new things” is just as efficient.
Wikipedia teaches us that:
“Research and development (R&D), refers to innovative activities undertaken by corporations or governments in developing new services or products, or improving existing services or products. Research and development constitutes the first stage of development of a potential new service or product.” .
Now, behind the definition and myriad of books written on the subject, what I want to focus on today, is the importance of keeping your mind, your eyes and your ears open, and basically try … “new things”.
Because at the end of the day, that’s exactly what it is.
The history of humanity is about evolution. Sometimes through pure chance, sometimes through ingenuity, and often through a mix of both, with a good portion of hard work.
But did you know that some of the best invention were actually created by chance? And when I say chance, some people actually labelled it “mistake”.
Now I prefer chance, because we all benefit from it today.
But although chance played a big part in it, most of the time it was in the middle of work sessions that those inventions came to life.
Stay hungry stay foolish: they did!
For example, Sir Alexander Fleming was looking for a “wonder drug” that could cure diseases. He tried again and again with no success.
And when he threw his experiments away, he noticed that a contaminated petri dish contained a mold that was dissolving the bacteria that was around it.
He then grew the mold by itself, and that’s how he discovered penicillin.
And we’re just getting started.
John Hopps was conducting research, using the power of radio frequency heating in order to try and restore the body temperature.
And during these experiments, he realized that if a heart could stop beating due to cooling, he could also be re-started thanks to artificial stimulation.
And that’s when the pace maker was born, saving millions of lives ever since.
Percy Spencer was conducting radar-related research, and he realized that while conducting the experiments, the candy bar in his pocket melted.
So he tried with other food samples, and the microwave oven was born.
And finally, in 1968, Spencer Silver, a scientist, was trying to create a very strong adhesive. But instead he created a very weak one that would peel off when removed from any surface.
The project was labeled a failure and abandoned until Art Fry, another scientist, realized that the little pieces of paper were excellent when used has bookmarks.
Because they left no residue on the pages. And you’ve guessed it, that’s when the post-it notes came to life.
Stay hungry stay foolish: provoking chance
Now in all of these examples, one thing stands out.
Chance happened, yes, but only after work and efforts happened.
Alexander Fleming, John Hopps, Percy Spencer and Spencer Silver provoked what we call “chance” or “mistake”.
If they and others alike had been sitting on their couch day dreaming, I doubt that “chance” as we call it, would have manifested, and today the world would probably be a very different place.
Now why do I come up with that?
After all, you’re in to become your own boss, and not to save the world.
Well the principle remains the same : if you don’t try and provoke chance, then you are cutting yourself, your customers, and who knows, maybe the world one day, from awesome services, products and more.
You may well start as a freelance web developer, and end up as the creator of a new platform that helps millions of freelancers worldwide.
You may start as a freelance graphic designer, and revolutionize the way logos are created. Do you see a pattern here?
What I’m trying to say is that by staying curious, not limiting yourself and trying new things, it will not only benefit you and your business, but it might actually benefit your customers and at the end of the day, that’s what it’s all about : giving value.
Because if you don’t release value into the world, then you are just another business owner that could be replaced with the snap of a finger.
Stay hungry stay foolish: 4 tips to get you started
Trying new things can actually be fun, and trust me you need a good dose of fun, if you want to be your own boss. Because, you will have to deal with less pleasant tasks in the day-to-day management of your business.
So take this as a recreational part of your workload. And to help you out, here are 4 tips to get you started :
1) Stay hungry stay foolish: dedicate a weekly time slot for research & development.
I don’t care if it’s thirty minutes or four hours, but you must make time for that.
You got time for Netflix, for playing your games, for Facebook commenting or four YouTube binge-watching, so you do have time for research and development for your own business.
Remember, it’s your “own” business. Nobody is going to force you to do anything so if you really want success bad enough, you need to find the self-motivation.
2: Stay hungry stay foolish: Look at other industries that share common values.
Some of the greatest inventions or business ideas, were born out of simply observing what other industries were doing, and applying the concepts to their own industry.
3: Stay hungry stay foolish: do NOT limit yourself.
When you were a small kid, anything seemed possible, you probably had limitless dreams of what you would do when you’d grow up.
And then: you grew up, became realistic and re-assessed your goals.
And what I want you to do is the complete opposite! Be like a small kid: imagine crazy stuff you would do if you had unlimited funds and resources.
“Yes but Kay, I don’t have unlimited funds and resources, that’s not realistic.”.
Now please tell me: was Steve Jobs realistic? Were Michael Jordan or Kobe Bryant any realistic? Were Maradona, Ronaldo or Messi realistic?
I’m not asking you to spend money you don’t have, I’m asking to act as if there were no barriers, because out of this mindset, good things can happen and ideas can blossom.
But if you block yourself from the very beginning of the idea stage, how do you expect anything good to come out of it?
4: Stay hungry stay foolish: Have fun!
Whether you work alone or with a team: have fun.
Because at the end of the day, if you became your own boss, just to become a grumpy person that can only focus on numbers and KPI’s, then why did you want to become your own boss in the first place?
Becoming your own boss, is about freedom, yes, but it should also be about fun.
And that part of your business can be that sparkle of fun that initially motivated you when you made up you mind to become your own boss.
As I mentioned previously, I’ve worked for one the many Virgin brand companies, and among all the companies I’ve worked for, it was the best experience I had, because fun was part of it.
And although it wasn’t perfect, I really enjoyed my time with this company and I know that many of my fellow ex-colleagues felt the same.
Stay hungry stay foolish: Your turn!
So, I hope that this video made you realize that trying new things is vital for you, your business and most of all: your customers.
Nobody cares about just another new business. People care about businesses that go beyond and bring value into their lives.
And trying new things can help you do just that. Now question of the day: how much time per week do you spend on research and development? I’d really like to know so please let me know in the comments.
If you watched the companion video and if you like it, please give it a thumbs up, as it really helps growing the channel and if you know someone that could benefit from it, I’m going to ask you if you’d like to share it now.
Because let’s face it, there are so many things to do in a day that if you don’t do it now you’ll probably forget.
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So, that’s it for this video, I hope to see you around here or on the Youtube channel, and in the meantime, don’t forget to invest in your success.