Why do entrepreneurs run?

29 05 2009

Kevin Owocki asked a question I’ve wondered about myself: Why do so many entrepreneurs run? (Larry Cheng too)

I’m not interested in getting to the bottom of cause vs. correlation, I’m just pointing out that it seems there are a higher percentage of entrepreneurs and executives involved in endurance sports that the general population. While I still have a lot to prove to be considered in the same entrepreneurial orbit as many of the examples I’m thinking of, I definitely have the entrepreneurial bug. And I couldn’t imagine life without running – if you’ve had to deal with me on a day that I wasn’t able to run, you probably got my impatient side (sorry).

So what is it about being a runner that translates well to running a company?

  1. I love a challenge. Lots of people in business are competitive, but I especially like competing against former versions of myself. I love to progressively go further and faster.
  2. I love data and metrics. You don’t have to be a gadget geek to be a runner, but if you are a gadget geek by nature running will feed your addiction. Exhibit A: my Garmin 405. Heart rate, time, distance, real-time pace (the holy grail), virtual training partners, this has it all.
  3. I have a healthy ‘reality distortion field’ around my abilities. Let’s be real, you don’t start or run a company without thinking that you’re better than the average Joe. And you don’t sign up for a marathon unless you think there’s some hidden athletic potential just waiting to be given life. Of course you’re given plenty of reminders along the way that you are just as human as the next guy (in running and business), but in your own mind you have to have an edge.
  4. Running quiets my mind. Most of us are constantly thinking – we never mentally “clock out”. Running is cathartic in that it’s the one time I can actually clear my mind and just listen to my breathing, appreciate the scenery, and rest my thoughts. I’ve talked to a lot of people who are the exact opposite – they do their best thinking on a run. Not me. I zone out, and it’s fantastic.
  5. Running teaches me how to motivate myself. This is the big one. The daily execution needed to get fast is a perfect metaphor for business. It gets hard. Morning comes early. There are lots of unexciting, repetitive miles. The late miles of a race are really, really tough. Putting yourself through all of that as a runner teaches you an amazing amount about yourself and how you respond to goals, setbacks, little victories, and “walls”. I’ve learned lots of tricks from running that also work to keep me motivated in my work life.

How about you? What else do you do that translates to your career?


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3 Reasons Why China Will Dominate Electric Vehicles

9 05 2009

As much as I wish that the US auto companies could lead the transition to alternative fuel vehicles, I don’t think it will happen. I think China will emerge as the dominant exporter of electric vehicles, just as Japan came to own the small car category. Here’s why:

1. China will reach sufficiently high volume before other countries. According to earth2tech, China plans to convert to (mostly) electric within the next 10 years. If they are able to do that, they will lead the charge down the experience curve, meaning that as China’s cumulative production grows, they will get better and better at producing. This drives down cost, and makes it very difficult for competitors to catch up without pricing under cost. Another factor pulling China down the experience curve? A billion people to sell cars to.

2. The Chinese government has made a credible commitment to becoming a leader in this new field. They have appointed a former Audi engineer as Minister of Science and Technology, and created significant rebates (which, wisely, go to consumers rather than manufacturers). Unencumbered by a legacy auto industry, China is free to focus on building an auto industry from the ground up that is optimized for hybrid and electric vehicles.

3. Finally, China can beat Detroit in one key area that has plagued the Big 3 for years: labor. China’s huge labor pool can staff as many factories as China can build, and do it very inexpensively. Surely that had to be at least one reason that Charlie Munger has been so outspoken about BYD.


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