Embracing the Unknown: The Life of an Entrepreneur
It’s 3 p.m.-- you’re at the office executing calls, constantly refreshing your e-mail inbox, and texting the people you plan to network with. You haven’t slept since yesterday, and haven’t eaten since breakfast, but you know that this is only the start of a super long day. Who would’ve thought this would be typical for an entrepreneur?
For Jonathan Adams, this is just a normal Monday. Since 2008, Adams has worked in advertising, starting out as a sales representative, then a sales manager, and eventually the sales director. It never occurred to him to start his own business until 2012, when he decided that, with all the knowledge he’s gained throughout the years, it was time to venture out. However, it can be hard to make your own business stick in a world where everyone is trying to brand themselves and start their own marketing endeavours. Adams weighs in on this issue, talking about the pros and the cons, as well as gives tips on how to remain optimistic in this rocky, unsure profession.
One of the first things is knowing if you’re capable to single-handedly run a business, meaning gaining as much experience as you can. Adams says he “started out as a partner of a company at first,” and then went out on his own when he knew he was ready. Adams has been in charge of advertising for events like the Euro World Cup in 2008, Toronto Fashion Week, the FIFA World Cup both held in 2010, and the Cannes Film Festival in 2011.
None of this would’ve been possible if he didn’t do the ground work for it: “It’s all about starting on the right foot, and having proper execution,” Adams says. “If you execute your ideas and plans poorly from the start, you’re off to a bad one.” It’s all about “staying patient” and “doing extensive research” to make sure your idea or product is going to sell. Adams makes it clear that you can’t go into something without thinking it through or by believing that everything is going to simply “come to you.”
But what kind of work does that include? When doing the behind-the-scenes for all of his past projects, he did many things to make sure the advertising for the event would be a success. He says he conducted a lot of “market studies”, consulting with every-day consumers to see if they liked the sound of the event or embraced the concept of how it would appear. He says, “once you do that, you can see if it’s something you need to play safe [with] or if it’s worth taking a risk for.” To someone just starting out, that might seem like a hard decision to make. To this, Adams has this to say:
“Usually making an estimate of the potential revenue after
doing lots of research and market studies, makes it a lot
easier to visualize what your capabilities are.”
When it comes to advertising your project, Adams explains that he has workers executing calls all day to inform people about the event. He also uses social media, and hires online marketing press. He thinks that, with all of the younger generation’s experience of social media, it’s definitely the best way to get the word out. However, it doesn’t mean it should be limited to that: "it’s also important not to forget the most ancient way to get people talking, and that’s by word-of-mouth--it’s always a good way to go, and the most powerful.” He explains further that social media can be “risky” and that “bad publicity doesn’t always equal good publicity.” To this, he adds, that "sometimes you’ll get comments that are positive about the project or product, but it’s always those couple of bad ones that can cause a negative stir.” In the end, according to Adams, “it’s important to find the advertising avenue that works best for your business, and then take it from there.”
According to Adams, the most difficult aspect is “logistics, financing, exceeding expectations of your current stand point, and then the possibility of debt.” However, through all of that, you have to make sure you ignore “that fear factor.” He explains, “there are going to be times when you think it’s just not going to work, but if this is your dream, and you want to make it a reality, you have to get rid of that fear and go for it.”
Lastly, the most important part of starting a business is finding your passion, and sticking with it. “How do musicians just know their songs are going to be hit? Because they know that their passion is key, and with that, they will succeed.” It’s a similar attitude entrepreneurs must always have even through their hectic, stressful, and long days throughout their careers.
All in all, if you’re ready to “be innovative at all times, find new ideas, and be fearless when it comes to the unknown, then entrepreneurship is right for you.”