We’re Good - but is that ok?
I’m in a sticky spot right now at Elevator Up in that I know I need to make some changes in what we do, how many (new) people we have on staff and the types of projects we focus on. The crux of it all is knowing how to make those next steps.
The problem with developing websites/applications is that we’re good at getting that kind of business and it pays pretty well. You work for a few weeks on a project, get paid enough to cover expenses and save some away to only move onto the next project. Depending on how good of a project/traffic manager you think you are - you can do a few of these projects at the same time and end up with a profitable month.
The thing for me is that I’d rather be working on web hosting, developing our own products, and following new ideas - not working on everyone else’s new idea, or defining their online business objectives and strategy.
But that’s just not reality now is it? You have to make a living and it’s easy to continue doing things that are successful - I mean, why wouldn’t you?
You’re probably thinking - what is he complaining about? Either this guy should suck it up and be happy with his job, br proud that they’re making some money -OR- just start doing the things that I want to do.
Wow - if it was only that easy. Developing websites/applications has allowed us to grow enough, and provided us enough money to start those additional things we really enjoy. If we just jump ship over to the things that interest us more, where will the money come from? Of course the idea is that these new ideas/ventures will bring us money but it’s not going to happen overnight. It might be a few months or even a year before we start getting the desired revenue.
The other part of it is the cost of really doing the things you should do to be successful or set yourself a part from the competition. Doing Marketing and Advertising costs money, hosting events takes planning (and more money), keeping employees around so they can help you do these things costs money, building your infrastructure and tools takes time/money, etc…
I guess I could get a loan like so many people do when they start a business but it’s been so gratifying to say that we haven’t really needed to get a loan yet. Everything we have has come from hard stink’in work.
If you do borrow money - there’s always the fear that something doesn’t work out and you still need to pay that money back or depending how to get your money (VC, Angels, etc…) they might require a level of ownership in the company that you may not feel comfortable with. For me personally, I’m defiantly not interesting in handing over any shares of the company ownership. Call me a stubborn captain but I’ll defiantly go down with the ship if that’s where things end up.
I don’t really have a good ending to this post other than, running a business is a heck of a lot of fun and wouldn’t trade it for working for someone else.
In the same breath - it’s tough and there’s so many questions and so many things that I don’t even know how to ask. I’m just hopeful in the “future” and constantly have my fingers crossed on the decisions I make in that they are helping us move forward - and not continuing to only do the things we may feel comfortable with.
Ryan Merket Says:
Good post — honesty, can’t beat that.
I would say find a niche, exploit it, make enough flow to hire someone to takeover the niche, you use the rest of the moeny to concentrate on what you like to do.
Easier said than done.
But I have an idea anda niche, I just need to do it — maybe this comment was a self motivator.
PS: you have a small typo in VC paragraph. ‘defiantly’