A YEAR OF GROWTH
Last month marked one year since I cut the cord on corporate America and ventured into the Unknown Regions of self-employment. Those of you who have made a similar leap know just how tumultuous a journey it can be. One minute you’re flying high, basking in the euphoria of walking out that corporate door on your own terms. The next minute you’re wondering if that sure-fire business plan you jotted down on that napkin is still as sure-fire as you initially thought. Or perhaps you’re just frantically trying to remember where you put that napkin. Self-doubt begins to creep in and, if left to propagate unabated, threatens to undermine everything. Throw in a global pandemic and you start to wonder if maybe the universe is trying to tell you something.
But you forge ahead because, as you’ll find out later, you probably wouldn’t have gone solo if you knew at the onset just how much you didn’t know about what lay ahead. A healthy level of ignorance, it turns out, is necessary to be able to take that first leap of faith. So as Section22 turns one year old, I thought it might be interesting to share three moments of ignorance that I encountered during the last year and how they help shape the evolution of my business.
In your head it seems like a slam dunk, but reality uses a 50Ft Hoop.
In the movie Hoosiers there’s a great scene where the Hickory, Indiana basketball team makes it to the state championship, about to play in the biggest arena they’ve ever seen against a team bigger and faster than any previously faced. Coach Dale has the team measure the height of the basket to prove that the court’s dimensions are no different than their small town gym in Hickory.
It’s a great moment in the movie that really drives home Coach Dale’s point that there’s no reason for the team to be intimidated by a large arena or a different atmosphere. This metaphor may work great for sports but it breaks down quickly in the world of entrepreneurship, especially for anyone transitioning from a corporate career. The rules are different, the court isn’t the same size, and Coach Dale just got purposely ejected from the game to force you into being your own coach.
You didn’t have to worry about self-employment taxes, insurance or contracts at your 9-5 office job but necessity makes a quick learner of the uninitiated. Perhaps marketing yourself in the past consisted mostly of hoping the higher-ups remembered your name in the elevator. Now, the need to be noticed takes on a much different meaning because, to borrow from another classic sports movie, even after you build it, clients don’t always appear out of the cornfield right away. Suddenly, in addition to providing a product or service, you’ve also taken on the critical task of generating a range of marketing content to promote your company. All of this is to say that once you’ve pulled the trigger on starting your business, the reality of what’s required will be much more than what you were able to jot down on that napkin.
Forget the 30 second elevator pitch - focus on the 30 minute Coffee Shop CONVERSATION.
Click above to check out the S22 Pitch Deck
We’ve all heard about the 30 second elevator pitch and don’t get me wrong, it’s very important in the right context. If you’re attending a networking lunch at a conference or just happen to bump into potential lead, it’s important to have a quick and easy way to describe what you're all about. More focused networking, like setting up coffees and lunches with key individuals, requires a different approach beyond what can be described in 30 seconds.
My first few networking meetings were with former colleagues and people I had worked closely with during my corporate career at Target. These initial meetings, where I was mostly winging it, helped shape my value proposition and allowed me to develop a pitch deck to help foster better conversations. Being able to discuss in more detail just what I was all about over a 30 minute coffee or lunch helped cement new relationships and acquire new clients. Not everyone is going to check out your website after you meet with them so having a pitch deck you can share is critical.
I’ve included a link here to my pitch deck if you’re looking for an example. It’s nothing earth-shattering but it gets the basics of who, what and why across to your audience and helps you frame your value proposition on a cohesive and compelling way. Feel free to download and use as a template if you find it useful.
FIND YOUR COMMUNITY.
When I started Section22 I knew one of the biggest challenges for me would be my location. I’m not talking about being in a small town a couple hours from a major city - if Covid19 has taught us anything it’s that remote workers can be just as effective as those in the office. No, I’m talking about starting out alone, without the support system that a corporate organization can provide. When I worked downtown it was easy to connect with a coworker for some impromptu brainstorming or take advantage of the many guest speakers and events put on by Target. I’m talking about being part of a community of other peers, professionals and industry leaders that can teach, inspire and push you forward.
I partially solved this problem by making several visits to Minneapolis each month. Initially I focused on expanding my network and staying on top of developments within in the retail industry. As I began to tire of squatting in coffee shops I started looking into co-working spaces, many of which offer great networking opportunities beyond just a place to set your laptop in between meetings.
It was last August when Third Haus was launched by former Target execs Chris Walton and Anne Mezzenga to be a place “where retailers, brands and technology companies come together to shape the future of retail.” It was just what I was looking for - not only a co-working space to crash when I’m in town - but also a community of other retail-focused professionals. While Covid19 has put a halt to the physical community, Third Haus has done a great job of keeping the virtual community alive with regular Zoom events that have given members continued access to the great content Chris, Anne and the team are putting out. However you define community, be sure to find the one that works for you and your situation.
LOOKING AHEAD
As Section22 embarks on year two much work remains. While Covid19 has injected an immense amount of uncertainty into just about every aspect of life, I’m excited to continue partnering with brands, manufacturers and retailers to bring amazing consumer goods to market. Retail will only evolve more quickly as we rapidly change how we shop and Section22 is here to help shape the solutions that consumers will be looking for.