The Art of Learning Together: An Invitation for Impact Entrepreneurs

The COVID-19 pandemic has had a significant impact on both businesses and individuals, presenting them with a range of multilayered challenges. These have included financial uncertainty, disrupted market dynamics, and the need to adapt to rapidly changing consumer behavior. As a result, many organizations and teams have responded in different ways, some struggling to survive, while others found ways to thrive despite the adversities.

Amidst these changes, the pandemic has also provided valuable lessons on resilience and well-being for startup founders. One of our responses to the pandemic and the challenges faced by the impact entrepreneurs in Vienna was to create a co-learning space by and for impact entrepreneurs to connect, share and learn with each other. As a part of our response, we have hosted five fireside chats and built a community of over 50 entrepreneurs. Through these conversations, we started to explore some key areas of entrepreneurial success. We are just getting started, but would like to already share with you some of the valuable lessons we learned together so far:

🔴 Lesson 1: Adaptability is key

During our first fireside chat, we explored the concept of “the dip“, which is famously coined by Seth Godin. This concept refers to a challenging period in the middle of a long journey, a typical one for founders, which presents a pivotal time to either quit or persevere. Making the decision to quit or pivot during this time requires adaptability. As we have seen during the pandemic, businesses that were able to quickly find the dip to explore their options were able to transition from merely surviving to thriving more rapidly.

🟠 Lesson 2: Have compassion, purpose, and desire for impact

During our second fireside chat, we discussed the importance of having a clear purpose and a desire to make a positive impact in the world. Companies that are motivated by a strong sense of purpose were better equipped to withstand the challenges brought on by the pandemic and many other crises. Having a clear purpose can also serve as a guiding principle for decision-making during difficult times. Our community resonated most with the idea of taking a “100-year lens” approach when building a startup.

🟡 Lesson 3: Build strong relationships

A community of like-minded individuals can provide support and encouragement towards a collective goal. By observing our thoughts and emotions and connecting with others who share similar aspirations, we can make progress toward sustainable development. To enable ongoing connection within our growing community, we established a digital platform to enable further exchange and foster a sense of belonging among members. Through diverse online discussions and chat sessions, we have explored the importance of discovering one’s inner self and prioritizing mental well-being for entrepreneurs. The exchange of ideas on Slack has led to a community dialogue on the topic. Many participants could especially relate to the struggle of balancing the demands of running a business in challenging times and coping with personal issues, such as caring for loved ones or dealing with their own or even their teammates’ health problems. By supporting connectedness and mental well-being, we hope to create a safe space for founders to seek help and support each other. It is essential for founders to prioritize their mental health and seek support when and where needed.

Read also: “How Startup Communities Can Help you Build a Successful Business”

🟢 Lesson 4: Embrace diversity

The fireside chats also brought to light the importance of diversity in startups. Companies with diverse teams were better equipped to navigate the challenges brought on by the crises. Diversity in a team, especially in the founding team can bring different perspectives and experiences, which can help startups to adapt quickly to changing circumstances and find unique solutions to existing problems.

🔵 Lesson 5: Find balance

Amidst our busy entrepreneurial lives, it’s easy to get caught up in the daily storm of tasks and to-dos and forget to take care of ourselves. As we discussed in a new format during the first fireside breakfast, it’s essential to prioritize our well-being and find ways to incorporate self-care into our daily routine.

One common mistake we make is being too idealistic about our goals. It’s important to work with what we have and let us remember that a little goes a long way.

Another trap we often fall into is the “I will be happy when…” syndrome. We think that once we finish our to-do list or achieve our financial goals, we’ll finally be happy. But the truth is, happiness, just like the ventures we are building, is not a destination, but a journey. We must learn to be happy in the present moment, amidst the chaos of our lives by finding balance in our work. This means reflecting regularly on our mission and purpose while reframing who we want to be in this moment of time.

👉 We are inspired to keep learning from, with, and for each other and are further developing this community for Impact Entrepreneurs. Are you one? Then join us!