So you want to launch a business...

Top Secret Recipe for Moxie

"Make Mine MOXIE."

Ted Williams

According to the Merriam-Webster Online Dictionary, Moxie is ...

Main Entry: mox·ie
Pronunciation: \ˈmäk-sē\
Function: noun
Etymology: from Moxie, a trademark for a soft drink
Date: 1930

1 : energy, pep
2 : courage, determination
3 : know-how

According to Jim Flowers, (that's me) a person who has Moxie "gets things done."

Who wouldn't want energy, pep, courage, determination,and know-how?  Who wouldn't want to get things done?  Nobody, that's who.  Moxie, truth be told, ought to have almost universal appeal.

How then, you ask, might a person come into possession of the aforementioned Moxie?  I desire the attributes.  How do I obtain the essence?

Well, here, as advertised, is the secret recipe.  There are only four principal ingredients: Mind, Muscle, Motive, and Meaning.  (Remember, I am committed to key words that begin with M, like Market, Magic, Mentors, and, of course, Moxie.) 

The word Mind represents the intellectual component of a good batch of Moxie.  Who could argue with the notion that it is valuable to stay sharp, be well-informed on a variety of topics, and keep your wits about you at all times?  Many successful entrepreneurs seem to know not only a lot about a little (their field of expertise) but also a little about a lot.  The ones I have met tend to be voraciously curious.

The word Muscle represents a healthy body, a common trait of accomplished people.  Of course, we have all heard of or met world-class achievers who are not physically robust.  Steven Hawking comes to mind in this regard.  But for most of us, getting healthy and staying that way is a really good idea.  Feeling good makes every task easier.  It even helps with the intellectual part.  Powerful blood flow to the brain is a good thing.

Everybody needs a Motive, or several.  "What's in it for me?" is a valid question.  Energy and pep can come from proper diet and exercise.  Passion, however, feeds off serious aspiration.

At this point you might be tempted to ask, "Isn't that enough?"  Brain power, energy, and a passion for success ought to be enough to "get things done."  Hold on.  Not so fast.  Please read on.

Is there any chance that your Motive is trivial and self-indulgent?  Or does it dovetail nicely into your grander vision of the cosmic future?  Does it square with whatever set of noble principles to which you give allegiance?  Does it have Meaning?  Are you simply greedy?  Or does your business really matter?

The most long-term-successful enterprises (and there are always exceptions) tend to be ones that clearly honor and in some way advance the well-being of the world in which they operate.  The owners do not have to wrestle with ethical misgivings of any sort.  Their business profits are not stolen, they are earned.  And they observe the admonition of Hippocrates, "primum non nocere," above all, do no harm.

That's it.  Mind, Muscle, Motive, and Meaning - together they constitute the essence of Moxie. 

Mix thoroughly.  Apply internally.

Your baby is ugly!

"The great tragedy of Science - the slaying of a beautiful hypothesis by an ugly fact."

Thomas H. Huxley

"In reality, just about all start-ups are ugly in the early days."

Dharmesh Shah

Encouraging entrepreneurs is a tricky business. 

It's a lot like parenting, as condescending as that may seem.  I say this because parents are advised to maintain clarity regarding the difference between the child herself and certain annoying, embarrassing, non-productive, and even anti-social behaviors. The child is not "bad."  The child is "naughty." I love you, sweetie, but that behavior has got to go, period.

The challenge for any parent or adviser is to encourage course changes without damaging the student's Moxie... and also to preserve your relationship at all costs.

For things to change in any real sense, the difficult child must be presented with information that leads her to draw a fresh set of conclusions about the results of behaviors on her own.  

So much for my challenges as an adviser to entrepreneurs.  Here's one for you Mr. Entrepreneur. 

Please ask yourself, regularly and honestly, "Is my baby ugly?"  Have I dreamed myself a Market opportunity instead of actually finding one?  Does my response to the perceived Market need really constitute Magic?  Or is it just a me-too?  Which of my fundamental assumptions carries the lowest confidence factor?  What simple tweak in my plan would gain me the most leverage?

Every swan, said Hans Christian Andersen, begins as an ugly duckling.  And Dharmesh Shah counsels,

Accept That Your Baby Is Ugly:  Just like most parents think they have beautiful babies, most entrepreneurs think they have beautiful start-ups.  In reality, just about all start-ups are ugly in the early days.  Don’t spend time trying to explain to others why your start-up baby is beautiful.  It’s not.  Instead, spend energy explaining why your baby is going to grow up  into something that’s beautiful. 

So, if you're feeling adventuresome and self-confident, try something new today.  Re-visit every one of your key assumptions about market size, end-user needs, competitive behavior, advertising effectiveness, contracting systems, manufacturing quality control, raw material costs, and so on.  Assume that at least part of your baby could benefit from some plastic surgery.

Ask yourself: how much of my plan's beauty is in only the eye of this beholder - me?

Is it blood? Or just ink?

"Projections are bullshit."

Jason Fried

I've become a fan of Scott Ginsberg, otherwise known as "NameTagScott."  He blogs on a variety of topics, but one of his recurring themes is honesty.  In a recent post, Scott said this...

My definition of writing is as follows:

“Slice open a vein and bleed your truth all over the page.”

KEY WORDS: Vein, blood and truth.

As opposed to “brain, ink and bullshit.”

Suppose we apply that thinking to entrepreneurial elevator speeches, pitches, and business plans.  I preach about the Four Fundamental Factors test for the probable outcome of a start-up notion.  Market - great!  Magic - spell-binding!  Mentors - plenty!  MOXIE - hmmm.  

Thanks, Scott!  I will now be asking myself: Am I hearing or reading "vein, blood, and truth?"  Or is it "brain, ink, and bullshit?"

I'm pretty darned sure that with enough MOXIE a prospective entrepreneur can find a way to fix a modestly flawed start-up plan.  But a bullshit artist will never, never find the MOXIE to make even a well conceived, well written plan really work.  Too many things change along the way.  Too many obstacles arise in the real world of entrepreneurship.  It's just too hard.

Serious success demands some bleeding, I think.  Or is it blood, sweat, and tears?  (The quotation, by the way, is really "...blood, tears, toil, and sweat."  Thank you, Teddy Roosevelt.)

Brain, ink, and bullshit won't cut it.  Remember that - whether you are writing a business plan, or reading one.

Thank you, Scott.

Spells and Incantations

"We are generally the better persuaded by the reasons we discover ourselves than by those given to us by others."

Blaise Pascal

"You can't convince anybody of anything.  You can only give them more information."

Arthur Scharff

If your start-up plan includes exceptional Magic, you have a fighting chance for survival.  But simple possession of Magic does not put your wizardry into action.  It must be released and directed by means of carefully crafted spells and incantations.  Powerful Messages are always required.

My experience tells me that engaging the listener as an informed decision-maker is more powerful than ordering the listener to take some particular action.  That is not to say that marketing and advertising messages should be limited somehow to cold, industrial-strength facts.  Au contrere!  We have all been informed that buyers act on expectations of feelings.  So, informing them that others have, in fact and regularly, experienced those feelings by taking the desired actions is a classic strategem.  Testimonials work.

It's also perfectly acceptable, and logically important, to lead your listener/decision-maker to your preferred conclusion.  I've quoted Barry A. Densa before.  Here's a portion of what he says...

Assemble and present your credentialing elements, your evidence–your entire body of incontrovertible proof–in clear and linear fashion.

Allow your proof to lay the groundwork for what is to come. Create strong and overwhelming direction and momentum.

So, my friendly local entrepreneur, it would appear that Mastery of the art of incantation will serve you well. Click here for a comprehensive list of spells revealed in the Harry Potter tales.  Or, check out the advice of the various marketing communication wizards available to you, at no cost, courtesy of the world wide web.  Above all, start with good writing.  That is your personal magic wand.