1435: Why You Should Run Your Business Barefoot by Nir Eyal on Entrepreneurship

[00:00:00] [SPEAKER_00]: This is Optimal Work Daily, why You Should Run Your Business Barefoot by Nir Eyal of Nir and Far.com?

[00:00:08] [SPEAKER_00]: When I run, I don't wear much clothing, just my tidy whiteies in an old pair of umbrose shorts.

[00:00:14] [SPEAKER_00]: I don't wear shoes. Why I don't wear shoes while running is another topic covered in another post.

[00:00:20] [SPEAKER_00]: But by the looks I get, you'd think my manbits were flopping around in the breeze for all to see.

[00:00:25] [SPEAKER_00]: People will sometimes let out a faint gasp and point at the freak running by.

[00:00:28] [SPEAKER_00]: I'm not naked, of course, but I feel exposed and at times uncomfortable with the looks I get.

[00:00:35] [SPEAKER_00]: But the series of blog posts isn't about running barefoot per se. It's about the lessons I've learned,

[00:00:40] [SPEAKER_00]: founding and selling two companies as well as my work advising startups.

[00:00:44] [SPEAKER_00]: Barefoot running happens to be a great analogy to illustrate the secrets I've learned.

[00:00:49] [SPEAKER_00]: In fact, these tips can be applied to accomplishing any activity, which, like running, requires focus, stamina, and skill,

[00:00:55] [SPEAKER_00]: and that's pretty much everything. So what did I learn exposing my feet to hundreds of miles of hot asphalt?

[00:01:02] [SPEAKER_00]: Lesson one, feel the street.

[00:01:05] [SPEAKER_00]: But what if a nail or a rock jabs into your foot?

[00:01:08] [SPEAKER_00]: This is the most often asked question I hear about barefoot running.

[00:01:12] [SPEAKER_00]: It's a good question until you actually take off your shoes and experience what the ground really feels like under you.

[00:01:18] [SPEAKER_00]: You realize the human foot is perfectly adapted to run this way.

[00:01:21] [SPEAKER_00]: Running barefoot utilizes different muscles to tread lightly with each step.

[00:01:25] [SPEAKER_00]: Your feet adjust as you run, padding your way and giving you instant feedback about the terrain.

[00:01:31] [SPEAKER_00]: Getting real-time feedback is paramount to both running and business.

[00:01:35] [SPEAKER_00]: But we feel more comfortable when we cushion ourselves from what's really going on.

[00:01:40] [SPEAKER_00]: Our padded athletic shoes put layers between our feet and the street, just as corporate life can shield us from the uncomfortable things we'd rather not worry about.

[00:01:48] [SPEAKER_00]: So what's wrong with being comfortable?

[00:01:49] [SPEAKER_00]: Too often we trade real work for short-term comfort and this inevitably leads to people getting hurt.

[00:01:56] [SPEAKER_00]: 66% of runners suffer race-ending injuries annually, and most businesses fail within the first two years.

[00:02:03] [SPEAKER_00]: Although seemingly unrelated both occur when people stop feeling what is really happening underneath them

[00:02:09] [SPEAKER_00]: and choose to overly cushion themselves.

[00:02:12] [SPEAKER_00]: Here are three examples I've observed of how people insulate themselves to their own detriment and what to do about it.

[00:02:17] [SPEAKER_00]: Engineers tend to focus on the code and not enough on the cash.

[00:02:22] [SPEAKER_00]: I've seen way too many smart engineers working on really dumb projects.

[00:02:26] [SPEAKER_00]: They let the business people prioritize projects and get accustomed to taking orders,

[00:02:31] [SPEAKER_00]: thus cushioning themselves from having to answer the tough question of is my work really benefiting the business?

[00:02:37] [SPEAKER_00]: By padding themselves from answering tough business questions they are complicit in allowing management to waste precious time and resources.

[00:02:44] [SPEAKER_00]: If you're an engineer it's time to get out of your text editor and onto the street, ask the tough questions to understand the business model,

[00:02:52] [SPEAKER_00]: market size and strategy of your company.

[00:02:55] [SPEAKER_00]: Most importantly get out and meet your customers, really go talk to them.

[00:02:59] [SPEAKER_00]: If you are at a B-to-B company insist on going to a sales presentation.

[00:03:04] [SPEAKER_00]: If you work in consumer internet, get out of the building and talk to some real-life users yourself.

[00:03:09] [SPEAKER_00]: Get to know what the customer really cares about. It may not be what you expect or what you've been told by your product owner.

[00:03:15] [SPEAKER_00]: You may prefer to stay at your desk and that you think of yourself as an introvert, but that's no excuse.

[00:03:21] [SPEAKER_00]: By getting outside the building and really feeling your customer's pain,

[00:03:24] [SPEAKER_00]: you'll know if your company is actually making something people want as well as discover innovations you never considered before.

[00:03:31] [SPEAKER_00]: Marketing and salespeople tend to cushion themselves from the technology on which their companies depend.

[00:03:37] [SPEAKER_00]: Too often they have not invested the time to understand how their technology really works.

[00:03:42] [SPEAKER_00]: They law-abric wests over to the production team to build more features without understanding what it takes to build them.

[00:03:48] [SPEAKER_00]: If you think of yourself as a business guy or gal, and you work at a company that relies on technology,

[00:03:53] [SPEAKER_00]: learn some freaking code already, at least understand the basic mechanics of how your products work and enough to be able to recommend how to improve them.

[00:04:01] [SPEAKER_00]: By relying on your engineers to cushion you and without a rudimentary understanding of the technology,

[00:04:07] [SPEAKER_00]: you won't know if that killer technical capability you've been touting in your presentation actually matters to anyone.

[00:04:13] [SPEAKER_00]: When you learn the technology, you'll be able to do more than demand features. You'll know how to build them for yourself,

[00:04:19] [SPEAKER_00]: increasing your responsiveness to customer's demands and finding opportunities you never saw before.

[00:04:25] [SPEAKER_00]: Finally, entrepreneurs cushion themselves when they focus on distractions and tactics which actually have no impact on what really matters to their business.

[00:04:34] [SPEAKER_00]: Entrepreneurs are better served focusing on the road under their feet. The uncomfortable stuff you know matters most.

[00:04:40] [SPEAKER_00]: Asking the question, do people love my product and dealing with a potentially uncomfortable answer is all that matters.

[00:04:48] [SPEAKER_00]: Two huge distractions that cushion entrepreneurs from having to do real work are business development and fundraising.

[00:04:55] [SPEAKER_00]: I see too many small companies spending time entertaining calls from big companies looking for partnerships.

[00:05:01] [SPEAKER_00]: More times than not, partnerships with big companies waste time and produce few results.

[00:05:06] [SPEAKER_00]: Instead, focus on your own users and their needs. If you're a small startup talking with a big company before you've reached product market fit,

[00:05:15] [SPEAKER_00]: you're just serving the need of the person at the big company to look busy.

[00:05:19] [SPEAKER_00]: Raising capital is another area where entrepreneurs get sucked into a time-wasting vortex.

[00:05:24] [SPEAKER_00]: Sure, capital is often needed for growth, but many entrepreneurs see raising money as a sign of validation and pursue it way too soon.

[00:05:32] [SPEAKER_00]: They think, if investors give me money, it means I must be right. Wrong. Remember that investors are wrong more often than they're right about an investment outcome.

[00:05:42] [SPEAKER_00]: If you raise money for a business making a product no one really needs, you're squandering the most precious thing you have your own time.

[00:05:49] [SPEAKER_00]: Raising money only when you're truly ready to scale, meaning you know that the money will go into getting your validated product into the hands of customers who really want it.

[00:05:58] [SPEAKER_00]: Feeling the road and facing the hard reality of what really matters can hurt, but by being close to what matters, namely your customers on the street, you build stamina, better judgment, and skill.

[00:06:11] [SPEAKER_00]: It's only by listening to the street that you will know if you're heading in the right direction.

[00:06:20] [SPEAKER_00]: You just listen to the post titled, Why You Should Run Your Business Barefoot by NearAel of NearAndFar.com. This show is sponsored by BetterHelp.

[00:06:29] [SPEAKER_00]: We all have non-negotiables. Maybe you never skip leg day or have to take your morning walks, but when you're scheduled to pack with kids activities, big work projects and more, it's easy to let your priorities slip.

[00:06:42] [SPEAKER_00]: Even when we know what makes us happy, it's hard to make time for it.

[00:06:46] [SPEAKER_00]: Therapy can help you reclaim control of your time and values, and make no mistake. Therapy is for everyone.

[00:06:52] [SPEAKER_00]: Whether or not you've been through significant trauma, therapy can be a great tool for setting boundaries, learning positive coping skills, and ultimately becoming the best version of yourself.

[00:07:02] [SPEAKER_00]: If you're thinking of starting therapy, give BetterHelp a try. It's entirely online designed to be convenient, flexible, and suited to your schedule.

[00:07:10] [SPEAKER_00]: Just fill out a brief questionnaire to get matched with a licensed therapist and switch therapists any time from no additional charge.

[00:07:17] [SPEAKER_00]: Never skip therapy day, with BetterHelp. Visit betterhelp.com slash work daily today to get 10% off your first month. That's BetterHelp.

[00:07:26] [SPEAKER_00]: H-E-L-P dot com slash work daily.

[00:07:31] [SPEAKER_00]: And a big thanks to Near for letting us share his work with you here, and you know what? He has so many qualifications that I don't really know where to begin, but I'll name just a few of them.

[00:07:40] [SPEAKER_00]: Near holds a degree from Stanford Graduate School of Business has sold multiple companies taught at two different schools at Stanford, and he also has an excellent blog, which is where I'm reading from today.

[00:07:52] [SPEAKER_00]: That's at nearandfar.com, and please note that Near is spelled N-I-R like his name.

[00:07:58] [SPEAKER_00]: And for even more insights on using psychology to change behavior, you can join Near's newsletter and receive a free workbook, and you can do that at nearandfar.com again Near is spelled N-I-R just like his name.

[00:08:13] [SPEAKER_00]: But I think that is going to do it for me today. Thank you so much for being a subscriber to the show hope you're enjoying our content. Have a great rest of your day, and I'll see you back here tomorrow, where you're optimal life awaits.