I’ve been in business for close to 13 years now – and this is not including summer jobs and my mini-childish-rackets. My very first company was a single-proprietorship when I was 16 years old making websites for companies abroad. I was actually supposed to have a partner but a few weeks into it it was evident to me that I was better off working alone. In many ways I’m still that way but I think I’ve learned to work with others better.
In my more-than-a-decade of being in business, I’ve come to work with many young and not-so-young starters in business. It’s been one of my life’s pleasures to help these people achieve their dreams by guiding them, many times step-by-step, on how to succeed. Every dream has a cost, and part of that cost is a financial cost. It’s better to accept this reality, learn to respect money (not love it), and master the ways of generating value – which is what business is.
I’m about to give you a simple formula that I’ve observed. While I’m probably more known for ripping up play books and doing things differently, this formula seems to consistently lead to success for the people who stick to it and a good indicator of future failure for those who stubbornly insist on seeking success without it.
I’ve interacted with everyone from students, recent graduates, young, old, parents, couples, single-parents, experienced, inexperienced, creative, mathematical, different backgrounds, different interests, different strengths, and every one who achieved significant sustainable results followed this formula.
So my career advice for starters is this formula, and here it is:
(Character + Capability) x Time = Competence + Credibility = Success
Let’s break it down.
Character is the sum of qualities that define a person. I always tell people, particularly young people, when starting out, don’t pay too much attention to the money or to recognition (which can come in the form of promotion or even respect from peers). Instead, focus on becoming a high-quality person — a high value person.
Develop good behaviors, productive habits, and learn to discipline your thoughts, your feelings, and your actions. A lot of career education focuses on academics and a lot of what we know as “character education” is limited to a classroom. Character is developed in the world when we face real things with real stakes.
A person learns to be hardworking by having to work hard day in and day out even under uncomfortable circumstances.
A person learns to be trustworthy by being reliable and honest even when there’s a reason not to be.
A person become brave by facing his fears despite the challenge.
Character is the foundation of a flourishing career, maybe even a flourishing life. If great companies have great cultures, great people have great character.
Success is not just about attitudes and theoretical behaviors. Success is about action and abilities. The greater your capabilities, the better you are at harnessing your strengths, the better your chances of achieving your goals. Look at any incredibly successful person in his or her field, you’ll find that each person has achieved a level of mastery over the necessary capability. Part of this capability is the ability to inspire and influence people to collaborate with their capabilities.
Lebron James’ capabilities, as well as the capabilities of his teammates, have helped him win two NBA championships.
A master artist’s abilities to perceive, to compose, to pain, to express differentiates him from the lesser capabilities of those who have not achieved mastery.
Everyone has to grow through a period of learning, growing, cultivating, and developing. Don’t get impatient for the rewards of success. Instead, grow your capabilities incrementally. People ask me how I learned to read so much. It started by forcing myself to read one page a day – just one page – and even that was hard for me back then. It’s the same with my music or art, I force myself to learn a little bit more, practice a little bit more, learn one more piece, one more technique, and I’ve applied this to my business life.
Mark out what capabilities you need to succeed in your job then incrementally improve in these capabilities through practice, getting a teacher or a mentor, study, and learning from failure.
One of the problems with may people today is an inability to commit. Some of you might say, “Look who’s talking.” but we’re not talking about girlfriends here. We’re talking about careers and business.
Time is a friend to those who harness it, using the moments to learn, grow, achieve, even rest and recreate. There’s no success that does not have the time factor.
All successful people built their character and capabilities over time. This is what commitment is. Commitment is not merely staying in the game. It’s staying in the game and doing what it takes to win.
It’s not enough to exhibit flashes of character and capability on good days and being inconsistent on bad days. That’s not commitment and that does not lead to success.
I’ve seen with many incredibly talented people, people who can dominate their crafts, but could never achieve their dreams, dreams and goals they set themselves, because they gave weak commitments.
A weak commitment is this: I will do whatever it takes as long as I feel like doing it or only until it stays achievable.
Developing your character and capability over time leads to success. Even as our own dreams change, and trust me they will, having strong character and capabilities will serve anyone well in whatever stage they find themselves in as they pursue whatever goals.
Commitment allows you to develop into the kind of person with the kind of skills needed to succeed at your chosen field.
COMPETENCE + CREDIBILITY
Before we actually achieve our goals, what character and capability developed over time actually bring us is competence (we become really good at what we do) and credibility (we earn people’s trust). Achieving these two are incredibly important for achieving success.
Let me be clear, credibility and attention is NOT the same thing. Most of the famous people I know, I would never trust to run my business. Yes, they get attention but it doesn’t mean they’re trustworthy. Why? Because they get attention through their projections. They project an image that undiscerning people fall for and very smartly earn from this. With the internet and social media, it’s very easy to get attention: put all the smartest things you can think of, put cheesy quotes, take a bunch of selfies, make pa-cute, share, share, and share, and your on your way.
You may fool some people but the people with good judgment know better, and usually our success is connected to earning the trust of credible people. Only truly credible people can give true credit after all.
To keep this section simple, it’s this: GET REALLY REALLY REALLY GOOD AND EXHBIT THIS OVER TIME AND PEOPLE WILL NOTICE.
Finally, SUCCESS (and FAILURE)
It’s easy to spot a future success. It’s a person who is developing his character, his capabilities over time, and earning credibility and developing competence.
Given that these factors, it’s also easy to spot a future failure.
It doesn’t take too much observation to see that most people will never achieve their dreams, and that’s what it means to fail – to set your goals and fall short of hitting them. Hate me for calling this out but it’s better we face the facts. After all, as many of my fellow Generation Y kids like to say, “You only live once”.
You only live once. Go make it a beautiful flourishing.
David Bonifacio is Managing Director of New Leaf Ventures.
Connect with David on LinkedIn
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