There's No Business like Show Business
Written by Lauren Thiel; Accountant for Creatives. The Real Theil
Some guy in a dorm creates Facebook almost overnight.
Entrepreneurship can’t be that hard, right? Just come up with a new idea, or do someone else’s idea in a better way, and bam! Startup success. Instant billionaire. Sign me up.
I have been a dancer all of my life, so it is no surprise to me how much work goes into a performance. But what it takes to succeed as a startup? No idea. Until now.
Currently, I am an accountant, a dancer, and most proudly, the co-founder of Bey Dance. Tomorrow who knows? Two weeks ago I sold my shares in Bey, my first start-up. Three days later I started working on my next business idea. It turns out I am an entrepreneur. How annoying. Yes, I get to (hopefully) change the world for the better one business at a time. But my goodness, my life is going to be hard work. Forever. Entrepreneurship is a way of life, a compulsion, and a huge commitment. If you feel it too, awesome! Just don’t get blinded by the shiny lights and sparkly costumes; behind the scenes it is sleepless, thankless, endless hard work. Worth it. But just be warned.
"The difference between ordinary and extraordinary is that little bit extra" - Jimmy Johnson
You will play every Role – lucky you.
Like a lot of performers, I find nothing more satisfying than standing centre stage, under the spotlight, with a crowd applauding me. If I could be the writer, choreographer, director, tech, front-of-house, promoter, and performer, think of all the credit and thanks and appreciation I would get. What a dream. Or a nightmare. It depends how you look at it.
Liz (co-founder) and I started by teaching dance. This was awesome. Once we incorporated and committed to growing the school we quickly realised how many elements make up a business and how many roles we would have to play. At one point I could have said my ‘role’ included: owner, co-founder, CFO, human resources, payroll manager, accounts payable, accounts receivable, sales, IT, tech support, website manager, state dance school manager (Head Captain), dance teacher (Bey Captain), student, show producer, director, stage manager, costume designer and performer. All while having another full-time job as an accountant elsewhere. It is exhausting even listing them. SO MUCH WORK. And no training. You will have to self-educate, listen, question, apologise often, reflect, and learn. Fast. Often. Sadly, we also realised how tedious, thankless and tiring a lot of these roles can be. I encourage you to remember one day when you have the budget and hire staff to fill these roles, that you thank them and appreciate all that they do. They deserve applause too.
When you feel like Beyonce, but everyone treats you like Michelle.
Poor Michelle. Michelle Williams was in a trio called Destiny’s Child in the 90s, with Beyonce Knowles and Kelly Rowland, but she was clearly the least popular, and just couldn’t catch a break. No one took Michelle seriously. Really, no one took any of the three seriously – that is until Beyonce changed the game. I encourage you to be Beyonce; she knew her worth, she stepped away from the already successful trio to make her own path, she managed herself and aimed far beyond what the others thought was possible. Maybe Michelle could have been like Beyonce if she had twirled on the haters (Beyonce reference). That is how to be a startup. Breakaway. Dream big. Work hard.
The thing with being an entrepreneur and startup is that (hopefully) no one has done exactly this before you. You are the first person with the right combination of vision, drive, and commitment to the cause. It makes sense then that no one else sees that vision quite as clearly as you do. It makes sense that they will criticise and question your plan. We ran a company with a decent turnover, 12 employees, and around 100 students a week, across 2 states (I think that’s pretty good for the first year!). And yet I still get asked how my ‘little business’ is going. “Little” is one of those words that hurts me; without consciously meaning to, the person communicates a level of disrespect and lack of belief in what I do. I think passion will be your best armour, and success your best evidence. Everyone else will only see it is possible after you’ve already made it happen. But who cares! Make it happen, and prove them wrong. Impossible can be restated as “I’M possible”. Be daring.
Lights, camera, action… there is no finale.
You did it! The crowd is going crazy. Months, maybe years, of work have gone into getting you to this moment. But it is fleeting. Perhaps 30 seconds of applause. Yes, there will be a wider effect you hope; your performance has changed a life, inspired someone, told a story, and entertained. But for you, it ends with that moment of applause. And it needs to be enough for you, because before you know it you will be back into the studio to get ready for the next performance.
Originally posted via Accodex, 2016
Lauren Thiel is a Chartered Accountant on a mission to educate, empower and motivate creative small business owners to be more organised, more informed, and more profitable. She understands that business admin and accounting can be confusing, time consuming and overwhelming when it's not your 'thing'. Let her help you free up your valuable time so you can focus on your creative strengths. Find out more about how Lauren can help you.