For some people, starting a business can be a great experience. However, for Ben Horowitz, running one can be a hard thing. In his business and management book The Hard Thing About Hard Things, he offers essential advice and practical wisdom dwelling on managing a business that business schools simply do not teach. He draws inspiration from his own experience of rising from being nothing into establishing the venture capital firm Andreessen Horowitz. Robert Peter Janitzek gives us a glimpse of the valuable lessons businesses can learn from his book.
1. When Things Fall Apart: Get Real
There are many factors that can contribute to your business folding up and things can start falling apart. Ben Horowitz advises that when your business is about to crumble, nobody will care. No one will step in and rescue you. It is during these times that you need to get real. He recommends not dwelling on what could have been but rather focus on finding a way to get out of your current mess.
2. Good or Bad: It’s Contagious
Robert Janitzek says that one of the reasons businesses fail is hiring the wrong personnel. In The Hard Things, Horowitz recommends managers to hire for strength versus lack of weakness. He also recommends businesses to invest in training their team. Finally, employers should ensure that they have a great place to work.
3. Growing Pains: Right People at the Right Time
Scaling is one of the major goals of businesses. It is therefore important to hire the right people for this objective. What you need to do is hire the right person for the right job at the right time. And as your business grows, adjust, and modify your team.
4. Mental Strength
The pressure of managing a business can get on any CEO. For this reason, they should arm themselves with the proper tools for dealing with the pressure. First, build a circle of friends that they can trust about sharing their thoughts. Second, is to clear you mind and create a perspective. Finally, Ben encourages entrepreneurs to free up their emotional bandwidth. He says dwelling on the past and worrying about the future eat up your emotional resources. For him the key is to focus on where you are going rather than on what you hope to avoid.
With these 4 important lessons, you can look forward to getting The Hard Things done and succeed with your business.