Developing and making your business profitable can be an overwhelming task, but you needn’t take the journey on alone. The right partner or partners can help the business develop momentum and velocity to move forward.
For example, I am now engaged with two businesses — crazy, right? One is Whetstone Security Group where I serve as president and CEO and am the majority shareholder and the other is Connectify Social where I own 30 percent of the company and … am president of the company (I have reservations about overextending myself and do not plan on retaining this title for the long-term).
For WSG, the company was founded by two other partners and myself. My partners are absolutely great people and I trust them completely. We all come from the intelligence world and have similar visions on how we want WSG to evolve – placing integrity, innovation, and people first. Each of the partners enhance the company by bringing different skill sets and strengths that help balance out the areas where we each have individual weaknesses – a win/win situation. However, we recently transferred some ownership shares to bring aboard two new partners. Our new partners have added new energy and are providing great ideas on how WSG can evolve. I truly believe it is better to add partners/teammates to reach your goals and generate momentum rather than try to hold all the company. Of course, there is a point where adding addition partners might not make sense financially or operationally, but do be open to the possibility.
For Connectify Social, it was an idea I had and wanted to bring partners aboard to push the business vision forward. I knew I could not launch the business alone; I simply did not have the time or brain cells to bring it to reality. I chose my partners based on trust, drive, personality, and to be truthful — because I like and respect them. It was an easy decision to give away 66 percent of the company because I know they will drive the company forward. This leaves me time to primarily focus on WSG while launching another business!
So, if you are having trouble launching and need to put your goals back on track, considering bringing the right people onto your team. It is much better to launch the company with partners who can move you forward than let your vision lay fallow!
With Love and Respect,