Ok, here’s a wee exercise for you. Close your eyes, take a deep breath and tell me the first word that comes to mind when I say “Arsenal football club”.
Now whilst I’ve been a Gooner from a young age, there’s no way I think many of your words are positive in light of current events. Lifeless, gutless, pathetic or embarrassing are all adjectives I’ve heard around London over the last fortnight.
So what has gone wrong at a club with a world class stadium, unlimited finance and a rich and vibrant history?
Profit-itis. The same virus infecting startups all over the country
Arsenal have contracted a virus. Pure and simple. Sadly for the UK, this is the same virus infecting startups all over the country. Profit-itis.
Being a startup is great, you have access to trendy co-working spaces, free beer on tap and all the digital content you could ever desire. You are a trail blazer, you are your own boss and you will set this market alight and write your own legacy. Investors are throwing themselves at you, money is growing on trees and you are the lord of startupland!
your vision begins to narrow
You take on your first £150k investment and something strange happens, your vision begins to narrow, you close your eyes and all you can see is £ signs. Creativity levels slowly begin to drain as voices begin whispering phrases in your ear like “payback period” and “cost reduction”.
You are captain of this ship
Investors want a return on their investment, and rightly so. Their views should be listened to and can often add invaluable advice. However, do not bend over. Do not pander to their every whim and request. It’s their money, yes, but they have invested in your vision. You are captain of this ship but unlike you, they will relentlessly drive for an increased ROI, maximum EBITDA & reduced COGS. No thanks.
they strove to be extraordinary and blow the competition away
The Arsenal team of invincibles had no such problem. They were not content with merely aiming to win the league, they strove to be extraordinary and blow the competition away. They did not want to just win and increase the bottom line, they wanted to win in style. A class above the rest. It’s this relentless drive to always be extraordinary that set them and Wenger apart, to inspire those around them to raise their game and become better.
As soon as you begin to settle for mediocrity, disaster is never far behind
Profititis has the opposite effect. Money becomes an all-consuming driver like a spell cast upon you, leaving you devoid of your lateral thinking and creativity. Turing you into a zombie football club or worse yet, a zombie startup. As soon as you begin to settle for mediocrity, disaster is never far behind.
To avoid Profititis and maintain your long term health, keep the faith in your vision and never shoot for anything less than being truly extraordinary. Growing your vision, mission and team come above all else as long as you are delighting your paying fans along the way. And to those needy investors who demand you sit up and pay them attention, simply ask them to take a look at the dejected figure of a once great Arsene Wenger and his beloved Arsenal football club.