By Ian Ortega
What really separates entrepreneurs, founders, people? We could think from the logical route. That some people are more skilled than others, more talented than others, more hardworking than others. And this should hold true for places where baseline conditions have been controlled.
But how is business success to be explained in emerging markets? Why will one founder give up while another soldiers on in the same circumstances? What really separates businesspeople in emerging markets?
I will argue – it all comes down to Business Conviction. Unfortunately, it’s something that business school cannot give you. Data won’t give you conviction. A good business plan or well-charted out Business model canvas won’t give you conviction. Porter’s five forces neither will the PESTEL or SWOT analysis. The point I am making here is that when all is said and done, the critical ingredient is Business Conviction (BC).
BC is not passion although passion is one of the makeups to BC. BC is beyond passion. BC is agency, obsession, that endless knock on the door, that endless search for the way out, that endless connection of dots, that endless workaround barriers, complexities. That endless return to the challenge knowing it must be done, and that there’s no other option but to get this business done.
Think of BC as a gruesome interrogation where you’re sure the answers exist but you must keep pestering, skirting, knocking, testing, until something finally gives in and releases the answer. It’s knowing that there’s a cheaper way, there’s a better way, there’s a quicker way, and seeking for that way, seeking for the answers.
When you have a great idea, before you act on it, you must ask one question: ‘Do I have the BC for it?’ Because trust you me, the person with BC will beat you in the market. BC is akin to worshipping this idea or problem or challenge, BC is akin to religion. BC is what musicians have when we speak of those moments where they sang as though their rent was due. BC is the song you will release even if you’re not getting paid for it. It’s the thing you will do even if no applause comes through, even when no one is cheering.
BC is binary. It either exists or not. It can’t be forced. You can’t fake BC. Because it’s the thing that’s most tested in emerging markets. It’s the endless slaps on the entrepreneur’s face. It’s all the spits the market makes on you. It’s all the confusion, the questioning, and yet still saying – I want this, I am willing to lose my mind to it.
BC will break through anything. BC cannot be stopped. If you find yourself competing against someone with BC, know for sure, that they will have to be six feet under before they’re done. And even in this case, their ghost will come out and keep trying. A bad idea coupled with BC will beat a good idea that’s devoid of BC. And for those into hiring, you want to seek out BC in your future employees. Do they have the BC for the role?