Re: where has all the perservierence gone to? - Posted by Eric C
Posted by Eric C on July 08, 2003 at 14:14:54:
You’ve already got some great responses, but I thought I’d chime in with a thought or two:
- most people you think of as investors - aren’t;
- patient money (and investors) are very rare;
- avoid using folks weaker than you;
- make sure your business plan allows for investors to be replaced periodically (and for mistakes); and
- you should be trying to become better not bigger – what I mean is that profitability is not linked to size. One safe deal with tremendous profit is worth how many mediocre ones?
The fact is that as you grow in sophistication and experience, you will have less need of partners – of whatever kind. That’s usually a good thing.
On the other hand, good partners can make investing a joy. But they should bring more to a deal than just money – experience and wisdom are just two characteristics you might want to add to your list of qualifications.
And if you can somehow couple those virtues with a bit of patience, a love of laughter, and an honest concern for other people – you have a definite winner.
Are folks like these hard to find? Yes. But the real question is are they worth the trouble?
Hah. What trouble?
PS - most of us end up working alone. Its just the nature of the business. Even so, partners (both good and bad) have helped me learn a lot about business and myself.
Make sure you find someone who doesn’t take themselves too seriously. And you should give yourself a break as well – after all, its just business. Enjoy the ride.