About this Episode
“How do you know when to stop?”
What happens when former business partners air their grievances? In this episode we sit down with Heidi Gosen, a designer who co-founded a boutique design agency in 2011 named Smart Owl Creative, with two friends, including Idea Lemon Co-Founder Martin McGovern.
Together, we explore the question, "How do you know when to stop?", breaking down the twists and turns of starting your first company and discussing the reasoning behind Martin's departure in 2012, and Heidi's eventual closing of the business in early 2015.
Additional topics include:
+ How disliking your first job can lead to your first venture
+ Are you doing this to replace your job, or to work on your passion?
+ Using your side-gig to learn about what you're good at and what you want to work on
+ How do you remain friends even after a business breakup
+ How do you balance work, commuting and your side-hustle?
+ How do you quit your "friend venture" in a positive way?
+ If you feel like something is up, they probably feel it too. Honesty is the best option
+ Why do you put off stopping?
+ How much time do you spend as a company talking about what you are as a company?
+ Is it good or bad to have similar personalities starting a business together?
+ How to be aware of your personality strengths and weaknesses
+ Your side hustle helps you learn the skills that you want to develop, but don't get a chance to at your day job
+ What are the other areas of execution that you can explore that orbit the core skill?
+ How to know when it is financially smart to close your business and take work as freelance
+ You should stop once you've gotten what you wanted out of the endeavor, but knowing that in the moment is tough
+ "Fail Fast, Succeed Sooner" - easier said than done
+ We are taught as kids that, "If you try hard enough, you will succeed.", but there are so many things that won't work for, especially if you're motivated out of fear of failure.
+ You have to reflect back in order to learn from your previous choices
+ If your side project becomes a burden, or you feel obligation, you need to sit down and re-evaluate where you're at
+ There are always warning signs - you need to be looking for them along the way
+ How do you distinguish the difference between hard work that pays off, and hard work that doesn't
+ When you create your team, you all need to have a common vision and reason to be there
+ How do you find the things that matter? Do the things that don't matter and cross them off the list.
+ Heidi talks about leaving her college band and realizing that touring and living in a van was not going to be her path
+ There is a difference between an evolving idea and an idea you are trying to "fix"
+ How do the things you've quit fit into your overall story?
+ Elements of what you've done in the past always get pulled into what you are doing today.
+ How do you know the line between hobby and work?
+ Martin talks about aligning his big "stops" with big "let's-fix-it" moments
+ How to analyze your day-to-day work in order to know if you should stay or go
+ Are you running toward an opportunity, or away from your current situation?
+ Does technology make failure harder for us to realize?
+ Are you living in your own technology delusion in your work, or maybe your relationship?
+ Having a brutally honest mastermind group is key
+ Raj & Martin become official best friends
Keep an ear out for the next episode of Discover Your Inner Awesome as we continue to take on life's important questions in order to help multi-passionate people understand themselves and their presence in the world.
Chris Leamy Summertime - itunes.apple.com/us/album/summert…8749?i=947688753