How Entrepreneurs Can Learn From Comedians

Entrepreneurs aren’t the only ones taking big risks in the business world. The event-based business SF Sketchfest began as a non-traditional comedy festival and grew into a national, 15-year running festival. Here’s what entrepreneurs can learn from the comedians behind the festival’s success, Cole Stratton, David Owen, and Janet Varney:

(Curated from Entrepreneur Magazine)

Adapt and Learn As You Go

If you only try things you already know how to do, you’re not challenging yourself. So, when you take risks as an entrepreneur, be prepared to learn as you go. You’ll need to adapt to new situations outside of your comfort zone, which is a good sign for your business.

“It’s still trial by error. It’s been 15 years of not knowing what we’re doing and trying to figure it out at the same time,” says David. Cole adds, “We initially called it a festival to have an angle for it, really.” From learning how to market an event to handling their own event production, David, Janet, and Cole got their hands dirty and learned the ropes through hard work and with the help of trusted mentors.

Hire the Right People

The people you hire will have a major impact on the success of your startup. Hire people that you want to work with and people who will inspire you to be your best.

“One of the smartest things we’ve done is try to keep great people around us.” says David. Other that its co-founders, SF Sketchfest has zero full-time employees. However, when the festival takes place in January and February they bring on a ton of contractors. David adds, “We’ve been really lucky to get people to come back year after year.” When hiring, their strategy is simple: They look for people they’d like to be around, and have hence considered the event a “good-vibes festival” because of it.

Stay Calm When Things Go Wrong

Things will inevitably go wrong sometimes so you just have to remember to stay calm. Work together towards a solution and you’ll be able to overcome any obstacles that might arise.

When things go wrong (which as any event producer/entrepreneur will tell you, they always do), David suggests, “Being confident, remaining calm … and just coming together to work the problem and find a solution.” Also, don’t play the blame game. Decide upon next steps and work together to put the fire out.