This article first appeared on the MassChallenge blog, 4 August 2015
Launching a business is a scary step for everyone. It’s exciting and marks the first chapter in what will undoubtedly be an exciting journey, but it’s also a leap into the unknown. There will be sleepless nights, stressful days, and a rollercoaster of highs and lows along the way.
Michael Hayman’s advice: have a purpose and be heroic.
As the co-founder of Seven Hills and Startup Britain, Michael Hayman has seen plenty of businesses succeed and fail. Through his experience, he advocates for founders to make the plunge and let themselves and their businesses be driven by a greater mission and corporate values.
He recently spoke at the MassChallenge UK Bootcamp to impart this advice to our startups: “Is your business doing something heroic? In this day and age, it should be!” With 75% of the world’s workforce being made up of the most values driven generation by 2025, Millennials, Michael urges entrepreneurs to set their goals lofty and let purpose drive them.
For Michael, “profit becomes much easier when you have clear sense of purpose.” It allows focus and ensures that the business stays on the right path. At the end of the day, nothing is permanent. Only 30 of the original FTSE 100 companies made it to their 30th birthday, and many of the tech giants today are less than 10 years old.
The status quo can and is frequently shaken and Michael encourages entrepreneurs to find their mission and stick with it to make real, lasting impact.
For further detail on this subject, please visit our resources page which shares a short interview with Whole Foods founder John Mackey in Austin and a free download of Chapter 1 of Michael’s new book, MISSION: How the Best in Business Break Through outlining how the breakthrough brands of today have succeeded by building a mission that instils a purpose beyond profit.