$1,000,000 - Amateur move
As I drove to the airport, another offer came through for an investment into one of my start-up businesses. I listened half-excited, half-hesitant. You see, I don't need money, I need partners that have extensive databases or technology infrastructure, and money just muddles the waters.
Right now, I have 100% control. I use the figure of $1,000,000 although it was a lot more than that. In fact, just the other day someone sat in front of me with a cheque book asking how much I wanted. I declined of course. I know my worth and I have an opportunity to take this to the next level on my terms, or to have another headache to deal with.
We don't all have the advantages of having some spare cash hanging around, but I think I would make the same decision had I not had a cent to my name. The reason being is that earlier on in your business, the calls you make determine whether or not you will be succesful.
We can tell us a million different reasons why we should take money earlier rather than later, but they are reasons. They are not decisions that should be taken likely. Just because someone offers you something, doesn't mean you should take it.
I have built my business largely sitting on my hands, procrastinating about a whole heap of things. My new years resolution in 2017 was to not procrastinate and I have stayed true to my word. I read every book possible although they were not so helpful. In truth, anyone with half a brain knows what to do, but choose not to. All you need is a notepad and a pen, and that in itself can be the reminder you need to stay on track, don't hold back, be brave, make smart decisions and always remind yourself of your goal.
When you have a startup, some things to consider are:
- What do you need money for?
- Do you have a business plan, marketing strategy and financial forecasts that are realistic
- Do you have the right people for now and which one's would you take into the future
- What are the most likely obstacles that will truly challenge you in the early stages. Come up with solutions before they happen. This preparation will ensure that you don't get squashed by pressure, anxiety is kept at bay and you are cool, calm and collected
- Own the narrative. Don't let other's own it in meetings, in the office or in life. Show confidence even when you don't have it.
- Believe in yourself and what you are capable of.
I have had many moments where I have second-guessed myself, my capabilities and that of the people around me. What a waste of energy and time!!! Seriously, this is not a good use of mental energy. If you can manage your mind, departmentalise things as they come up, you will be victorious.
$1,000,000 might sound like a lot but in Australia today - it's petty cash. When you have a dream of building a large company (revenue not people, profit not fancy offices), then the big picture needs to be at the forefront of every decision you make.
If you are lucky enough like I am to have a business that has afforded me the ability to think bigger, dream with no boundaries, and believe anything is possible - go with it. Don't look back.
For now, unless you can bring something significant to the table, you don't have a seat and coming through the door is wasting your time and mine.
I am an entrepreneur, a marketing consultant, a Marketing Eye and the founder of Robotic Marketer. God that feels good!!! Whether it's Sydney, Melbourne, Brisbane, Atlanta, Los Angeles or New York - I am an entrepreneur on the road with focus. Watch this space. The disruption that is occuring right now is game changing and it changes the narrative for every marketer!