Funds Flows #2 - “Got Off that Step…6 Months Later, I’m Rich”

“N***** know that I step (Uh-huh)
And the gang that I rep (Uh-huh)
Went to Solomon, iced out the ten, put six hundred on all of our neck (Uh-huh)
Paid in full like Mitch (Mhm)
Really havin' this s*** (Mhm)
Got off of that step, started rapping and six months later, I'm rich (Mhm)”

-        BigXthaPlug, “Mmhmm”

Entrepreneurs desperately want to experience the kind of self-assurance and satisfaction that BigXthaPlug expresses in his song “MmHmm,” but “imposter syndrome” can often get in the way. To generate business as an entrepreneur, you’ll need to market yourself and your offerings to the world - both in real life (e.g., conferences and pitch meetings) and in the virtual world (e.g., content creation, social media). As a professional who works for themselves and hasn’t yet generated any revenue, however, it can be hard to combat feelings that you are only “playing at” running a business. These feelings are “imposter syndrome” – the phenomenon where a competent individual struggles with feelings of inadequacy and the fear of being exposed as a fraud. You encounter doubts such as: “What am I thinking trying to be my own boss?” “Are people going to take me seriously?” “Do I really belong in this space?” And you face these doubts, which make you want to shrink, at the very moment you most need to “put yourself out there.” 

I understand those feelings - I grappled with them in launching my own business and still deal with them occasionally. Particularly as a young lawyer working in areas (Private Equity/M&A) that generally require big teams and resources, I faced doubts (external and internal) about my plans to build my own firm. How could I attract paying clients and execute complex deals on my own?

Despite those doubts, I decided to keep pushing forward (through failures and various iterations) with building the corporate transactional firm I envisioned. As I eventually began to land my own clients and close deals for them, it proved to me (and to those that cared to notice) that my business model was legitimate and viable. 

Over the last year, as I’ve enjoyed victories and growing momentum, I’ve had BigXthaPlug’s “Mmhmm” on repeat mainly because it captures the feelings of satisfaction that I am experiencing. As its title and catchy hook suggest, “Mmhmm” overflows with self-assurance and a sense of accomplishment. Over a triumphant, synthesized beat, Big X kicks off his first verse in a tone dripping with bravado:

“I just went, bought a watch with a whole lot

of diamonds to show all these n***** it's my time”

 And 

“You not blind, thеn you see that we havin' it
Known in my city, so no, I'm not average
Camе a long way from dope in the cabinet”

These excerpts highlight BigX’s confidence and desire to be seen when he walks into a room, a stark contrast with the self-doubt and shrinking that accompany imposter syndrome.

As I listened more, I realized this song does not merely celebrate accomplishment, but also provides a simple path to get there, even for the entrepreneur with self-doubt. How does Big X get to a place of abundance financially and emotionally? How do we as entrepreneurs get to a place of being comfortable in our own skin? 

Slipped in almost as an afterthought among the boastful declarations of the hook, is the key - “Got off of that step, started rapping and six months later, I'm rich (Mhm).” In this straightforward line that he almost breezes through, BigX reveals to that he arrived at this place of comfort by abandoning what was familiar and pursuing a new path. The image of a step on a front porch evokes comfort and familiarity, but also stagnation. It also  served as the physical location from which BigX operated before deciding to change his life. So when BigX says he “got off the that step,” he is referring to both a literal and a metaphorical movement. He left both the lifestyle with which he was comfortable and the physical location where he was stuck, to pursue a new business - rapping. Taking that step made the immediate (“six months later”) difference in his trajectory.

What is the “step” you need to get off of finally to launch or grow your business? What negative behaviors or attitudes are you harboring? Or what otherwise benign routines or habits are keeping you from pursuing activities that will support your long-term goals in life? One of the hardest things for entrepreneurs and aspiring entrepreneurs to do is to make a move - to break out of their comfort zone and start trying something uncertain and unfamiliar. This is especially true when you have a solid 9-5, which may not be your dream job, but at least pays the bills. Fine - maybe you should not quit that full-time job in favor of launching a tech startup or forming a search fund to acquire a business. That still doesn’t mean you should stay on your “step” - instead, figure out other ways to get started on your new path. Consider, for example, launching a part-time consulting practice or working with an advisor to acquire a business as an independent sponsor.  

For me, “getting off that step” had specific professional and personal implications. Professionally, I had to stop relying on stable but unfulfilling freelance projects from other firms and devote my time and energy to my own practice primarily. Personally, it meant abandoning alcohol and other temporarily-rewarding parts of my daily routine, to pursue longer-term investments in myself and my relationships.

I didn’t get rich in six months like BigXthaPlug, but taking those initial steps even before they were comfortable did directly lead me to greater profit and personal fulfillment. 

Mhmm.