separating founder from business entity

 

I’ve had a few mishaps recently due to certain business processes that weren’t correctly fool-proofed. I have to admit, I could have had more oversight on how things developed, but alas, I am but one person.

I think it’s important that founders be aware that their real self shouldn’t be tied directly to the companies that they run.

WRONG assumptions to make:

  1. If the company performs 10% worse today, I, the founder should feel 10% worse
  2. If the company gets a scathing review on the internet, the I, the founder should feel the burn right in the heart
  3. If the company doubles its revenue, I, the founder should feel twice as good

Though 3) can help, I feel that celebrating it too much will cause deeper confusion between founder and the business entity. Hence, the saying goes : “The highs are really high, and the lows are really low”. The founder, if she’s too vested into the company feels the crushing blow.

On the other hand, if the company hits a low, the founder shouldn’t just raise her hands up and say ‘Oops’. Abdicating responsibility doesn’t work either.

Rather, I recommend the ‘Oh, that happened. How do we fix this?’ approach. No extra ideas should form beyond that statement. No self-assessment, no nothing.

Fix the issues, apologise to whomever deserves one, and move on.

interesting insight from boom

I listened intently to Blake School on the pod. I figured a good takeway was his quote, where “the amount of effort to run Boom is about the same as his mobile app company”.

Having a problem set that on the surface looks much harder (such as supersonic travel at Mach 2.2) requires just as much energy as solving problems in a mobile app company.

thinking about a new space

I’m thinking about expanding into a new area. the initial evaluation seemed positive. the pros outweigh the cons.

My one main concern is that it takes away a certain amount of energy to be doing this.

The upside is huge, because it brings in a new segment, and improves our overall visibility.