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I recently had the opportunity to attend a retreat for successful female entrepreneurs. I had 100 reasons not to go.
My company was taking on a large client. Regulatory policies impacting our industry were being debated in Washington, DC. We have just concluded an important fair. Things were busy at home. I was tired. I had no time.
As much as I wanted to refuse, I went for it and it was one of the best decisions I made all year.
As founders and leaders, if we keep our heads down and focus solely on getting things done, we miss crucial opportunities to think bigger. The kind of thinking that leads to growth and transformation. The kind of thinking that can influence the trajectory of a young company. And, truth be told, the kind of thinking needed by leaders, founders, and those of us responsible for the vision of our companies.
Here’s what I learned when I took the time to step away from everyday life for this retreat.
Related: 5 Invaluable Lessons for First-time Entrepreneurs
1. Lessons from outside your industry are invaluable
As startups, we are often able to bring an important external perspective to the industries in which we operate. We are disruptors who think differently and are not bound by legacy norms that can slow innovation.
But then we grow up and a change happens. Instead of bringing from the outside perspective, we sometimes find ourselves in need an external perspective. That’s why it’s critical to take the time to develop important relationships with colleagues outside of our industry.
Other innovators will look at a problem (and a solution) with fresh eyes and help ground us in the innovator role we built our company on. We can learn from the experiences they have had, even if we serve different industries.
And, when asked, we should return the favor when colleagues from different sectors come to us to help unlock them.
2. Curiosity is contagious (and beneficial)
At Veda we have always tried to create a culture of curiosity, but in everyday life it is sometimes difficult to stop and ask questions, listen to others and, honestly, take time to learn.
One of the gifts of the retreat I attended was that it reminded me how important learning is. Yes, I learned a lot while I was there, but more importantly, I learned how much I needed to learn.
Since returning, I have already strengthened our learning culture and committed to regular lunch and learn in the office and ensuring the entire team has time to experiment with new technologies – true learning for learning’s sake. I am confident that it will be time well spent and that the team and the company will benefit.
Related: 25 Everyday Practices Executives Credit With Continuous Personal Growth
3. Open exchange between peers is especially important for female founders
Female founders often face gender-based stereotypes and biases that can impact their entrepreneurial journey.
Sometimes this manifests itself in our male counterparts who respond to our ideas from a biased point of view, perhaps intentional, perhaps not. But there is a filter through which our ideas are considered that can influence their adoption.
The opportunity to interact with other female founders offers the opportunity to challenge ideas that are not viewed through a gender lens.
4. When you keep your head down, you miss what’s on the horizon
When we don’t look up, we just end up repeating in the same space we already occupy instead of opening ourselves up to broader, broader thinking.
My co-founder likes to say that these incremental ideas are simply “putting more horses in the same wagon when what we need to build is a train.” We need to think many steps ahead of where we are today and that comes from opening our minds and imaginations to conceive of what comes next.
5. When you’re too busy doing, you’re not in charge
As founders, it is crucial to inspire trust, build trust and foster collaboration. With teams, boards, investors and customers. To do this we must take time for self-reflection and think bigger. This introspection helps develop a strong, authentic leadership presence that resonates with colleagues, peers, and other stakeholders.
An effective leader recognizes that strategic thinking isn’t done three days a year in an off-site leadership meeting. Strategic thinking is an ongoing process that we need to dedicate time to throughout the year. This is as true for senior executives at large companies as it is for entrepreneurs eyeing the next round of fundraising or bringing a product to market.
Related: 3 Ways to Build a Strong Women’s Entrepreneurial and Investment Ecosystem
My commitment
The commitment I make to myself and my colleagues, clients and investors this year is to dedicate time and space. It means figuring out which tasks I should delegate or even stop altogether. I am also committed to building, promoting and leveraging my network of colleagues for accountability.
Like you, I have big goals for my company and I know that getting lost in the minutiae won’t get us there. Taking time for personal and professional development ensures I remember to look.