029: Entrepreneurial Mindset: Attachment vs Commitment
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Today Steli and Hiten talk about the importance of not being attached to your business. There are so many things founders can become attached to including team members, or as Steli points out founders can be obsessed with their business.
Hiten adds that so many business owners buy into the myth that a company is your baby. Running a company and raising a baby are not the same thing. Companies are not a lifetime commitment, Steli then adds that there can be a feeling that if the founder just commits to the project it can be a lifetime business.
The conversation veers into the idea of being attached to a problem instead of the company. Steli remembers a time when he thought that if he was attached to his company he was more committed to it. Hiten thinks that if you aren’t attached to something you can be more committed. Being attached to a problem is better for the business because you focus on the issue not the fix. Steli has a problem with the word “attachment” and prefers “commitment” be used in that statement. Attachment means you are too close to it to see the big picture.
“Be committed to the problem, but not the solution.” As the world changes the solution changes. Any time Steli finds himself stressed he asks himself “what am I attached to?” The answer will often put the situation in perspective. Hiten then adds the next question is “why do I care?” You need to care, but care more about the problem, than the solution and don’t become attached to those things that are going to change.
Attachment is suffering, being attached to anything will lead to suffering. There is no benefit to suffering.
Steli: Ask yourself, “Am I committed and do I care about it? Am I attached?” If you are then make a pro and con list. What good things are coming out of that attachment and what are the bad?
Hiten: Attachment will lead to a fear of change. In business the only constant is change, but you can control the change. Attachment will kill your company.
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