Thread: Tekel syndrome Question

Hello Jamie,

I completely identify with you. My mind is more of a web then a focused beam however there's no need to attempt to fix it as its what makes us creative. CEO's aren't one trick ponies.

With that said I believe every solid idea deserves its day in the sun. I write a detailed business plan for each venture. The business won,t follow the plan 100% however there is always a plan. I'm never left confused on what happens next. I never work more than 3 projects at a time, and any new ideas/projects get planned out on paper and put in a pending folder.

I then bring on partners and give them equity in the new start up company. I make sure each partner is only used for one business venture there is no over lapping.

I then focus on the business that will potentially start making a profit the quickest and bring it to above net neutral asap. Any downtime that naturally happens I use to work on the venture that can potentially make the most money.

The goal is always to get them to a "safety" point where the market knows our product, we've gotten repeat buyers and we have been acknowledged by competitors as a threat. The most profitable, with the least amount of work gets the majority of my focus, and my partners make sure the business keeps growing.

It's great to hear I'm not alone!

Thank you for your insight. Lately I've been seeing it as a negative and I need to embrace it as a positive.

I have been avoiding partners in general. I'm a bit of a control freak and have seen way too many issues with clients. But I LOVE the idea of it. I love being able to gain motivation from another person involved and I love the idea of allowing the business to grow while I am pursing something.

My coach said I need to be the puppet master of many different things to be happy.
It's hard to be a puppet master and control every single piece of a business.

I have a VA and I'm hiring a coach underneath me for this new venture, but I'm just not sure.

Can you give me your thoughts on hiring a partner? How have they worked out in the past?

Hey Jaime, I thought you were in the Caribbean? Please tell me you aren't thinking about the Tekel Syndrome while lounging on a beach!? =)

Your question is a difficult one to answer. However, if your goal is to create a business worthy of a multi-million dollar valuation, and perhaps, will cash-flow 5/6 figures, you will have to focus on that one business only and make internal adjustments/changes along the way. I believe there is nothing wrong with changing roads as long as your full attention is given to that road -- along that road you will find different turns and crossroads based on the road noise (marketplace feedback) where you can adjust (again).

Tekel Syndrome is all about monogamy -- but that doesn't mean ONE business can take you in different directions. For the serial entrepreneurs, the best resolution is to become a silent/angel investor in the other opportunities so your-self is apart of it, but your-time is not.

Originally Posted by Jaime

It's great to hear I'm not alone!

Thank you for your insight. Lately I've been seeing it as a negative and I need to embrace it as a positive.

I have been avoiding partners in general. I'm a bit of a control freak and have seen way too many issues with clients. But I LOVE the idea of it. I love being able to gain motivation from another person involved and I love the idea of allowing the business to grow while I am pursing something.

My coach said I need to be the puppet master of many different things to be happy.
It's hard to be a puppet master and control every single piece of a business.

I have a VA and I'm hiring a coach underneath me for this new venture, but I'm just not sure.

Can you give me your thoughts on hiring a partner? How have they worked out in the past?

Bringing partners in is one of the hardest things in the world I often look for programmers/ webdevelopers or people with the connections needed who are dissatisfied with "working a job" and are in love with the idea of the project. Before anything is legally signed everyone has proven they will work hard and well.

I've also had many failures with partners as well they are risky. However the 2 partners I have now are amazing. I'd search the forum for more info on how partnerships have worked out for people.

Just know the thinner you spread yourself the weaker you can personally "push" the businesses under you. Focus most of the time on the best "child"