Start-up culture is corrupting our youth and killing real entrepreneurship

I came accross this article by Lukas Mikelionis on The Telegraph and I couldn’t agree more. For the record: it’s a “black-or-white” titles because they make us think and adjust where needed.

Imagine the sort of person that runs a start-up. How would you describe them? Probably using words such as “young”, “ambitious”, “innovative”. They probably embody that meaningless expression “nothing is impossible”. This is the problem with start-up culture: it has created a myth that has the power to ruin lives.

I know it might sound as a negative story, but it’s not. Believe me, I coach me kids to follow their dreams and coach them about “learning by doing”, but I also coach them about wisdom of the “old people” and “respect” and “savoir vivre” and “hard work”.

“Unfortunately this notion that it only takes a “killer idea” (preferably something based on an app) and just enough funding to conquer the innovation-hungry consumers is a lie. It goes against traditional business-making practice, where companies respond to the demands of consumers rather than the other way around. True, we all heard stories of successful innovators who indeed delivered revolutionary products to the consumers, but it’s perfectly reasonable to doubt that every millennial has the same trick up their sleeve.”

I probably sound very old school now, but I believe I’m where I am because I always surrounded myself with people who are older and wiser and took the time to absorb their experience and do better. Not because I found capital for my crazy dream. Finding capital is just a tiny part of realising that dream and it’s not too difficult either. So yes, I listen a lot to the opinions of grandma, mum, dad and experienced business people to make our platform bullet-proof.

Don’t get me wrong: I also listen a lot to the rookies in our team, or when I teach at Real Madrid Sports MBA or when I was a coach for the Founders Institute. I love their energy and disruptive thinking. I give them lots of opportunities but in the end I have to make sure that Herculean.coop becomes a global success and that won’t be achieved overnight.

“Even when true innovation happens, there’s increasing tendency not to attempt to create a business with a long-lasting plan, but instead chuck it towards larger corporations in exchange for a handful of cash. Business cards stating “serial entrepreneur” – those who move from project to project – are becoming a norm. The idea of nurturing a company is in terminal decline. In the past, making sure that the company is thriving and has a competitive edge used to be the defining aspect of good entrepreneurship. Nowadays, by contrast, selling your company for a life-changing sum of money is the mark of success. This breeds a new type of entrepreneurship, which centres on the short-term boom, and turns the creation of start-ups into an industry itself. Start-up culture shifted the focus away from company ownership to either “get rich by selling” or participating in never ending game of start-up creation.”

I get that question often: When will you sell? When will you exit? My answer is always the same: we are building a sustainable cooperative platform, a system, powered by Herculean people and we are trying to structure it with all the lessons learned in our many years of corporate experience, keeping into account the disruptive future ahead of us. It’s like raising a kid, and with 3 kids I know a thing or two about raising them and letting go 🙂 When the time has come to let go, I will, but let’s enjoy every step of the journey!

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