Pilots and Intrepidus Entrepreneurus

When a trained pilot (hundreds of hours of training in aerodynamic theory and navigation, followed by many hours with a mentor – also known as an instructor, followed by many hours of supervised solo flying) eventually gets a licence and climbs into a cockpit for the first time there is a pretty strong chance that s/he will be able to take off, go somewhere, and land safely.

This is because the pilot has been trained in that specific aircraft, and in specific disciplines. So s/he checks the airframe before getting into the cockpit. Then s/he checks all the internal systems to make sure that they all work. It is always useful to know there is enough fuel to go somewhere, a working compass to ensure you’re going in the right direction, a working radio to find out about the weather en route, and a working radar to avoid other aircraft, mountains, and other non-fluffy objects. Even the lowest skilled pilot – the person who had to re-write the tests 12 times and scraped through with a D+ – knows that it is rather difficult to stop the plane in mid-air to fix something.

The average pilot usually files some kind of flight plan, and then follows it. As a result, 99.9999999% of pilots do not make unexpected landings. The very, very few that do, land in trees, on mountains, in big patches of water, or on other vehicles and make the headlines worldwide.

In contrast, my hero (Intrepidus Entrepreneurus) usually starts a business with zero hours of theoretical training (other than a technical background in something exciting like hydraulic hoses, cooking, production management, or corporate politics), no mentoring or guidance, and without needing a licence.

Intrepidus boldly hops into the cockpit (business) after not checking the airframe (borrowed from a local bank) and takes off (Africa is not for sissies, so why bother with a flight plan or a map) without radar, radio, compass and definitely not enough fuel and ends up in strong headwinds at 30,000 feet not knowing where Intrepidus (let alone North) is, not knowing where Intrepidus is going, not knowing how to land the plane, nor how to stop the plane in midflight to get some help.

The average startup has Intrepidus in the cockpit and files no business plan. As a result, 75% of small businesses fail in the first 10 years, without making any headlines.

Is this merely a coincidence?

I am glad you asked.

For the past year or so I have been working through the similarities between pilots and entrepreneurs because they’re both rather weird. Both like to operate alone.

Both are pretty independent. Both are good looking (until that first unexpected landing, at least). The major difference, I think, is that a pilot knows that a single mistake up front – that missed cable hanging loose, that empty fuel tank, or that dicky compass pointing 7 degrees left – will probably lead to some significant challenges. And there are enough of those from the elements.

In contrast, Intrepidus does not know that a money insufficiency, or a bad business plan, combined with a stiff business headwind will wipe out everything the Entrepreneurus family has accumulated so far.

Pilots have access to a vast collective knowledge about every aircraft: manuals detailing EXACTLY what to do if something goes wrong (or in some tiny way does not behave EXACTLY as planned). This knowledge is based on the experiences of every pilot who has flown this type of aircraft, and each unusual experience or behaviour is analysed and stored in a manual detailing the best way to deal with anything (or at least detailing a few survivable choices).

Business owners do not have such access. The business information available is spread amongst different professions (accountants, attorneys, consultants, millions of websites, and thousands of books) and none of us have the time to pore through this wordy morass when things go pear-shaped.