At Promus Ventures, we look for teams that look and smell differently (not that kind of smell). Founders who think out of the proverbial box go after visions that most think are silly and are not swayed by naysayers.
We use the term “sideliners” for those people that love to tear down other companies and products without frankly having any credence to do so. Most often sideliners haven’t done and/or don’t want to do the hard work and sacrifice over the long term that it takes to succeed. Teddy Roosevelt was no poser:
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.” (April 23, 1910)
Sideliners will always be around, and it’s always interesting to watch how founders take the criticism. Teams can choose from two options: 1) shrink back and lose their tenacity or 2) go after the prize with added vigor. Our money is on the “added vigor” teams.
So how should you respond to sideliners?
- Listen carefully and discern any truth in their rants. Hard, yes, but more often than not there is something there that you can take away.
- Resist all temptation to get defensive and strike back. The retaliator always seems gets the 15-yd penalty, not the initiator.
- Cheerfully remind them of your path and vision. Time will prove you, even if the end result looks different (hint: it will).
- Thank them for their thoughts. Kill them with kindness. Understand that you’ve made a dent somewhere to get someone riled up — well done.
- Don’t let their words get to you. Your goal isn’t to flatten the competition but rather prove your vision.
Teddy’s words ring true as much today as 100 years ago. Get in the game and off the sidelines. Stop your opining and get your hands dirty. Win or lose, the battle is what we play for.
Sideliners? Well, they’ll never know.
Recipients of this post are not to construe it as investment, legal, or tax advice, and it is not intended to provide the basis for any evaluation of an investment in any fund. Prospective investors should consult with their own legal, investment, tax, accounting, and other advisors to determine the potential benefits, burdens, and risks associated with making an investment in any fund.
