Stargazing

As a Hollywood society, we are obsessed with the rich and famous. Magazines, TV shows and newspaper columns are dedicated to this phenomenon. We are fascinated by actors, musicians, politicians and sports figures. We care about their on-field performances and their everyday lives. We hang on to every word about their marriages, divorces, trials and struggles. \nYet, while this may appear to be a harmless hobby, this obsession can actually be detrimental to our personal success.\nIn business, the concept of stargazing is applied to top entrepreneurs and CEOs. Many of these top professionals, such as Apple CEO Steve Jobs, have cult-like followings. People spend days posting rumors on online forums, following these icons’ every move. In technology, these people are called nerds; in Hollywood circles, these star-obsessed cults are usually called \nteenage girls.\nIt can be detrimental to stargaze in the business world as well. When we put other people on a pedestal, we handicap our own performance because it no longer becomes disappointing to underperform. \nWe often fail to realize that everyone has different and unique skills. The idea that there is someone who is an overall “excellent business person” and can be successful in all aspects of business is false. Everyone has his or her niche, and the sooner you become aware of yours, the sooner you can start to make progress.\nThere is no question we are all born with different talents. To be an entrepreneur, it is crucial to have an awareness of your strengths and weaknesses. It is fascinating to see how many different personality types become successful entrepreneurs.\nIn business school, we are taught to be well-rounded and to work on our weaknesses. This ironically goes against the basic economic concept of competitive advantage. Spending years learning anything past a basic understanding of all aspects of business is a waste of time. Work on your strengths and focus on becoming the best at what you do.\nAre you the big picture evangelist that can inspire an audience but have trouble executing? Are you the reserved type that is detail-oriented and can work day and night on a project? Perhaps the two of you should have lunch. \nThis concept can be best summarized from my dinner conversation with National Lampoon CEO Daniel Laikin, when he admitted “I never follow through with anything.” Laikin, a college dropout like his brother Robert, the CEO of Brightpoint, has the street smarts to know his weaknesses. He does what top entrepreneurs have done for many years: He surrounds himself with people smarter than he is and who know how to execute. \nWhat is important to understand is that no one knows precisely whether something will work. Even venture capitalists, who make a career out of funding businesses, fail to predict this. When you read about successful people in business, know that they are nothing more than successful people in business; they are human and make mistakes on a daily basis. So, absorb as much experience from them and model their behavior, but never fall into the trap of stargazing. \nAt the end of the day, there are only two legitimate distinctions: man and God, and everything in the middle is up for grabs. Take it.