15 Aug What Entrepreneurs Can Learn From Robin Williams

Genie….you are free..

From the day he showed up as alien Mork from Ork on the TV show Happy Days, I have loved the comedic genius of Robin Williams. We reveled at his antics on the resulting spinoff, Mork and Mindy, which put beautiful Boulder, CO on the map. His meteoric rise to and amazing tenure in stardom thereafter reflect that extraordinary talent. It is of course overwhelmingly sad to learn that depression and battles with alcohol and drugs, along with the beginnings of a battle with Parkinson’s, may have caused him to take his life at a very young 63. As a tribute I thought we should ponder what lessons business owners can take from how Williams built his brand and managed his life.

1. Don’t Fear Risk. Williams was a super talented comic, selling out the clubs and leaving us all ROFL as Mork. Staying in that realm would likely have guaranteed continued success. But he made the move to dramatic acting in such wonderful films as Dead Poets Society, Awakenings and Good Will Hunting, for which he won an Academy Award. This effort could have flopped. Instead it brought his stardom to superstardom at a level rarely achieved.

2. Never Forget Your Base. Despite his success in dramatic roles, he continued to play in clubs and take on many comedic roles, knowing this was his base. Films like Aladdin, Good Morning Vietnam and Mrs. Doubtfire are indeed comedy classics in my book. We knew that any appearance on The Tonight Show was going to make us guffaw.

3. Face Up to Your Challenges. Despite the incredibly sad ending to his life, Williams was open about his difficulties with drugs, alcohol and depression. I think this openness, and hard work through rehab, helped him with his sobriety and confidence to get through what apparently were many tough periods. We all deal with difficulties in life and business. It’s not what life throws us, but how we deal with what life throw us that makes the difference.

4. Success is a Marathon, Not a Sprint.  Recently Williams was very busy, having just completed four films (it has been reported he had financial issues, see below). But his career has involved pacing himself for the most part, with time off for family and, apparently at times, bouts with the challenges in his life. Most entrepreneurs can never get fully away from work, so I tend to call the issue “work/less work balance.” But it’s important to give you energy, perspective and joy for life which translates well to your attitude and sticktoitiveness about business.

5. Manage Cash Flow Carefully. Williams apparently was facing financial constraints following two expensive divorces (he has joked that the term “alimony” evolved from “all the money”). Unfortunately, the streets are littered with rich people who lost everything. Successful entrepreneurs are great at making money, but not all are great at managing it, or the lifestyle they choose when success comes. As risk-oriented as you are with building a business, that’s how risk-averse it often requires you to be to keep the money you make.

To the Williams family, our sincerest condolences on this very very sad passing of a legend.