PERSISTENCE VS. PRACTICALITY
This was the battle that Tyler and I faced after six months of planning, developing and diving into our small business. With entrepreneurial spirits, giving up was simply not an option. Doubt was certainly our best friend, but we were not about to let doubt win.
The majority of our time together has been spent bouncing ideas off of one another, usually concluding with a large sigh and a “one day.” But something was different about the birth of mPower Music Studios, whether it was the tacos and margaritas we shared that summer evening, or the fact that we were both in perfect positions of starting a new chapter in our life. Somehow, we had stumbled on an idea that stuck: opening a music facility that offered private studios for instructors to rent, rather than working for an employer or driving to students’ homes. Simple. Clean. Fulfilling a current need. No competition. So… we went for it!
Though I would not consider myself a business expert, here are seven steps (that we experienced) to starting a business:
1. Act. The phrase “it starts with an idea” means nothing if you don’t actually follow through. Set an intention. Create a vision. Write everything down. And begin your process!
2. Research. In order to fully understand the nature of your business, sociological, financial and geographical factors must be identified. Survey your audience. Discover what is needed to be done.
3. Be empathetic. I took this directly from David & Tom Kelley’s book “Creative Confidence” in which they discuss the importance of relating to your customer. Ask yourself questions like “how would I feel if I were them?” or “what would I want out of the business?” Answer every concern, be communicative with potential clients/customers and show that you care about them.
4. Know your worth. Negotiation became a learned skill (for me, at least) throughout the entire process. Needless to say, I could not have done this without Tyler. When Sheryl Sandberg claimed that women have a very difficult time negotiating in her New York Times best selling book “Lean In,” she is damn straight. Understanding the “big picture” of your company will set you up for success in the long run!
5. Budget. This is a no brainer - but a seriously overlooked aspect of starting a business. Write everything down. Be prepared. Look into the future. What will you be spending money on in six months? Where will most of your money be going? How long will it really take you to pay back a loan? It sounds daunting, and I certainly shed some tears in the process, but there is almost nothing more lucrative.
6. Communicate. I am extremely blessed to have found an amazing partner in Tyler. Not only did our living situation benefit us (or sometimes detriment us), we communicated every idea in every aspect. Email, google docs, sheets, and word became our best friends. We made a sincere effort to plan everything out - both on a small (daily) scale and a large (monthly) scale.
7. Get feedback. Ask others what they think. Seek advice. Call others who have succeeded with their business and find out their tips and tricks. Confide in friends. Have family members scroll your website to make sure it makes sense. Get everything approved.
Needless to say, we were ready. Everything was in order (including the drastic amounts of paper work… which can be an entirely new post on its own) and we were more determined than ever.
It was certainly a surprise when… we “failed.” ... Okay. Clarification. We did not fail.
But, we certainly felt like failures. Though it feels like we have been mourning the loss of our “baby” (for lack of a better word), practicality won the battle over persistence. Doubt did not win. Business did.
Unfortunately in our case, circumstances unfolded that eventually pulled us in a different direction. Red tape turned darker and uglier red. Negotiating became nearly impossible. And though the interest and support we had from our friends, family and potential clients was enormous, there was an unrelenting gap between interest and commitment.
It is very easy for humans to like an idea. It’s equally easy to say “I’ll help.” But the physical action of a person’s commitment to that interest is rare.
This is in no way a platform for blame. It is purely an observation that I find true in most every aspect of life. I am a contributor myself! How many times have I offered something to someone and not followed through? How many times have I been highly interested in something that seems challenging and invigorating yet not gone through with it? (*cough... going to the gym regularly... taking more yoga classes... cough*) We all do it. It’s part of the philosophy that... change is hard.
Our business model asks musicians to change. By no means did we think this would be easy, but we certainly remained entrepreneurially optimistic. When it came down to the very last moment for us to sign into our business investment, we evaluated the risk versus the reward. And after all of our efforts over the last six months, recognizing the risk value was nothing short of devastating.
In the end, we are not giving up. Because what entrepreneur does? We are simply pivoting and exploring new options. I am determined to find answers to that unrelenting gap between interest and commitment. Is it human nature? Is it the life of a musician? Is it the economy? Geography? And whatever it is, why?
Learning comes in all shapes and sizes. I never thought I’d give up on this dream. But in retrospect, turning a new chapter and giving up are completely separate and often misaligned. And damn did I learn a lot!
Doubt kills more dreams than failure ever will. mPower lives on…just, maybe in a different dream.
