Investors, employees, friends are all looking for ways to glean information from you. Testing you is the way to do it. Seeing how you act towards the waiter when they get your food order wrong, Or how you research an idea and fail to give credit where it is due.
You won't be taught the rules of the game but you will directly be affected by them. Your job is learn the invisible rules around you and create a playbook to navigate.
If you have a friend, family member, significant other hopping into the game of entrepreneurship, do them a favor and hand them this little post.
It'll shave years off their learning curve.
Pass or Fail: You Decide
Based on your "test" performance you can climb to the top or crash and burn. Set the standards for passing success and enjoy.
How the tests work
Update: 12/27/16
The purpose of these tests is to serve as a diagnostic tool to determine where you are and how you can move on. It's pass or fail if your meeting all the standards that means that you were at the baseline of leadership.
As an entrepreneur, think of the tests as a mental checklist to run through for your investors, customers, and employees.
Use this post to get inside the head of your audience, competition, and employees.
Also, use the tests to improve your ability to be a discerning entrepreneur. Run through these tests when you interview an employee or an investor. Let the test serve as a filter the good from the great.
The Tests
Listed below are the main tests. I am currently working on a worksheet for you to be able easily walk through the tests, so be on the look out for it.
Understand that this is an exercise in self-awareness.
A nuanced awareness of your actions will allow you to create an environment conducive to utilizing your strengths.
Where do you start?
The list of tests can be overwhelming, start where it hurts the most.
The test the discovers is either causing the most pain financially for the one that's making you lose sleep at night.
Don't worry- I rigged the game for you.
You will ACE each test!
- Stress: How you handle stress?
- e.g. What do you do when something stress you?
- Option #1: Stress eat (or don't eat)
- Option #2: Push people away
- Option #3: "Work harder" (without course correcting)
- Option #4: Avoid the stress or meet it head on
- Option #5: Blame others or take accountability.
- Note: For All you "Visual Thinkers" or "Visual" people a decision tree diagram is coming.
- e.g. How do you deal with it effectively?
- Meditation, Sex, Golf, Drinking, Driving Fast, Running, Writing?
- e.g. How do you deal with resistance? For example,
- If you are a Doctor, a patient "coding" on the table.
- If you are a venture capitalist, deciding which market to IPO in.
- Do you/they become aggressive when stressed?
- Response #1: Irritable
- Response #2: Cry
- e.g. What do you do when something stress you?
- Calm: How do you turn a stressful situation and turn it into a calm situation?
- This is important since people investing in you will ask, "What the hell are they gonna do if something completely unexpected happens to the company?"
- Key question: What do you focus on? physically, emotionally, spiritually.
- This is important since people investing in you will ask, "What the hell are they gonna do if something completely unexpected happens to the company?"
- Responsiveness: How quickly you respond to communication?
- This test is a make or break. Where you set yourself apart from the pack with consistent, timely communication or blend into the crowd. Do you take other's plans into account with your planning? If so, you will be handsomely reward. If not, enjoying failing this test.
- Update 11/26/16
- How do you respond when you fail this test repeatedly?
- Example: I know my "follow up" is terrible. When someone say's remind me to do "X" because of "Y" I still won't do it. Yet, I understand fully that this is someone's first point-of-contact with me.
- Update 12/14/16 What are the consequences of failing this repeatedly?
- #1. Reputation = shit
- #2. Integrity = shit
- #3. Network = unreceptive
- Solution #1. Just send the follow up email. (this is the occam's razor solution) however, this doesn't solve the root of the problem. I don't follow up well because it causes me an inconvenience and it doesn't scale well. Verdict: Not sustainable.
- Solution #2: Build Myself an app to work exactly how I want it.
- Although I am eating it on the chin with email, it does make life a lot easier down the line.
- How do you respond when you fail this test repeatedly?
- Reliability: How reliable you are ?
- e.g. Do you show up on time to meetings?
- e.g. Do you dress properly to the right situations?
- If the answer is yes to the questions above, then a leader's comfort in your reliability leads to great growth opportunities.
- Responsibility: Do you gracefully take extra responsibility ?
- E.g. You will be asked to take on more responsibility that those around you. How you handle that with grace, poise, and dignity is a huge test. Because if you fail to do so and instead resent the teammates around you, then you will be incapable of leading.
- Reputation: What do others have to say about you?
- Ask yourself "Will others standup for me behind my back?" Those people are true advocates. These advocates will play a huge part in your success through life. Support them, take care of them, and they will take care of you.
- Focus: How well can you focus on the essentials & cut away the inessentials?
- Focus flies under the radar. If you can cut straight to the essential that makes you productive and effective. A sign of leadership.
- Think 80/20 Analysis
- Think Controlling a situation
- Focus flies under the radar. If you can cut straight to the essential that makes you productive and effective. A sign of leadership.
- Honesty: How willing are you to tell the truth in uncomfortable situations?
- e.g. How do you look at things objectively and create an action plan and execute on that?
- e.g. How ethical and trustworthy are you?
- Confidence: How do you project your confidence?
- If you "lack confidence" that's ok. How do you a) hide it b) work to create a new sense of confidence? This can help you with landing a new sales role or growing your company to the next level.
- Scenario: Pitches to Investors
- If you "lack confidence" that's ok. How do you a) hide it b) work to create a new sense of confidence? This can help you with landing a new sales role or growing your company to the next level.
- Timing: Do you know when to be human or be "superhuman"?
- There are times where your followers need to see you do a seemingly impossible feat to believe you are superhuman, whereas, there are other times where they need to see you be human so they can relate to you and rally around you. The key is learning the distinction between these moments.
- Integrity: Is your word your bond?
- The world is made up of contracts. If you do what you say you are going to do, you build trust and show others you are a leader.
- Update 11/26/16
- Learning: How long does it take you to learn from a mistake?
- The quicker you learn and move away from creating the same error twice, the better off you are.
- Ace: Your learn from one cycle of feedback.
- Example: Someone tells you to do better on your financial projections. Next time you meet with them everything is done to their specifications.
- Learning: How long does it take you to learn from a mistake?
- Ego: Can you put your ego aside for the greater good of the mission?
- AKA Are you a team player?
- Update 12/16/16
- Execution: How well do you get the job done?
- Update 2/15/17
- Preparation: Are you prepared to go at any moment?
- Example 1: Carry 2 copies of executive summary and Slide deck at all times.
- Why? I can't tell you how many times this has saved me. For example, I had an impromptu meeting with a bookstore vendor to gamify my application. They asked, "Do you have time to meet now?" Instead of saying "No, can we reschedule for another time." I was able to strike while the iron was hot.
- Example #2: Have multiple slide decks for different audiences.
- Example #3: Create a presentation kit
- Business Cards
- Powerpoint adaptors
- Copies of slide deck
- Extra powerpoint clicker
- Example 1: Carry 2 copies of executive summary and Slide deck at all times.
- Update 12/28/17
- Managing Up: How well do you manage up?
- Managing up means:
- How are you taking the stress off the people ahead of you- with very little supervision and greater upside?
- Note: If you are a CEO of a company- this still applies to you.
- A) How are you making it easy for your board of directors to see what you are doing?
- B) How are you making it easier for your employees to do their job and learn? (You will see a massive change in retention here!)
- A) How are you making it easy for your board of directors to see what you are doing?
- Note: If you are a CEO of a company- this still applies to you.
- How do you create a scorecard for this?
- Think:
- 1. What would shock them if you got completed?
- 2. What has been sitting on their to-do list for a while?
- What is the low-hanging fruit that you could knock-out in a day?
- 1. What would shock them if you got completed?
- Think:
- How are you taking the stress off the people ahead of you- with very little supervision and greater upside?
- Managing up means:
Is the game rigged?
Understand that this criteria may not be fair. But it's better to know the game that is being played around you and leverage it to success, instead of being completely in the dark. People in power want to stay in power. Thus, these silent tests serve as a screening mechanism.
Take back the power by planning how you will pass all these test with flying colors.