One day we had extra excitement at the farm. Our help informed us that there was a screech owl in the barn and they wanted us to rush down and see it.
I took my camera along and these shots perfectly depict in pictures what our last two messages about bird’s eye view investing have tried to explain in words.
This is a bird’s eye view. Can you see the owl?
Perhaps and you see the whole picture, the rafters the steps, the walls.
But a bird’s eye view requires a complete picture, many dots we can connect.
See the owl better now?
Our fine feathered friend is easier to see. We know him better now.
Can we creep closer?
Yes. This was one brave owl and now we feel like we really know him.
However I decided to take my chances and walk up the steps. This and a zoom lens let us really see “Mr. Wise One”.
We see the color of his eyes and can literally count his feathers. This is what we wise owl micro business owners need to do… get all the details. This is often our downfall. Can we now see the wall? Remember those rafters and the steps? Where are they now?
A bird’s eye view is a complete view seeing both the broad horizons as well as the narrow perspective.
Don’t get too caught up trying to see the trees and miss the forest. Otherwise some of your investments may end up nasty surprises.
A recent Wall Street Journal article “The Four New Breeds of Entrepreneurs” (1) by Linda Rottenberg can help you understand what type of personality you might have. She says: To run a successful start-up, figure out if you’re a diamond, a star, a transformer or a rocket ship.
This article points out that the big problem in starting your own business isn’t launching something, but is getting bogged down once you do. By understanding who you are and evaluating your own strengths and weaknesses, you have a greater chance of success.
The article says: Diamonds are charismatic evangelists who aim to revolutionize people’s lives. The ultimate diamond was Steve Jobs. At every stage of his career, Jobs bent reality to fit his vision.
Dynamic trendsetters with big personalities, stars instinctively know what’s coming next. When stars go big, they can go global. But they’re often mercurial, one-person shows. Think Richard Branson, Estée Lauder, Martha Stewart and Jay Z.
Transformers are catalysts for social and cultural change—like Howard Schultz or Anita Roddick. They typically operate in old-line industries but aspire to modernize them. Change-making is admirable, but can it last?
In 1984, Roxanne Quimby, a single mom hitchhiking in Maine, was picked up by Burt Shavitz, a local beekeeper. The two became lovers, and Ms. Quimby started selling lip balm made from leftover beeswax. Soon Burt’s Bees was generating $3 million a year; it later sold to Clorox for $925 million.
Brilliant tinkerers who aspire to make their endeavors cheaper, faster and more efficient, rocket ships succeed using analytics but often stumble by failing to get creative.
Jeff Bezos is the quintessential rocket ship. When deciding whether to leave Wall Street for the Web, he created what he called a “regret minimization framework” to reduce his chances of second thoughts.
Technology that lets us know what’s going on all over the world makes it easy for individuals to have successful micro businesses. Knowing what type of entrepreneur you might be helps you gain a more complete bird’s eye view.