Comments on: The Top Reason Start-ups Succeed — Or Fail http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/ Managed Services & Cloud Services Blog for VARs & MSPs Tue, 14 Feb 2012 21:29:28 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Joe Panettieri http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/comment-page-1/#comment-56590 Joe Panettieri Fri, 19 Nov 2010 21:54:32 +0000 http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/#comment-56590 Adam: Suggestion... go visit a local college and hire some interns. Cloning yourself remains cost prohibitive. -jp Adam: Suggestion… go visit a local college and hire some interns. Cloning yourself remains cost prohibitive.
-jp

]]> By: Adam http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/comment-page-1/#comment-56583 Adam Fri, 19 Nov 2010 17:41:01 +0000 http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/#comment-56583 I woke up this morning feeling a real lack of motivation, maybe a little depressed. I've been running solo with my web design business for about a year now, and it's definitely grown...but I definitely miss the "team" atmosphere of working in a group setting. I needa clone myself :) I woke up this morning feeling a real lack of motivation, maybe a little depressed.

I’ve been running solo with my web design business for about a year now, and it’s definitely grown…but I definitely miss the “team” atmosphere of working in a group setting.

I needa clone myself :)

]]> By: Joe Panettieri http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/comment-page-1/#comment-44670 Joe Panettieri Mon, 02 Mar 2009 21:29:14 +0000 http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/#comment-44670 David: We sort of have that hybrid approach here, where it's a 50/50 partnership but Amy does have the primary leadership role in terms of our communications regarding business relationships, finance, etc. As 50/50 partners, Amy and I discuss strategic decisions (finances, site development, company direction, etc.) But she's the "point" person when it comes to third-party inquires (partnerships, etc.) who ping us. I know not all 50/50 partnerships have happy endings. And I'm not suggesting one size fits all. But I can't imagine launching a company solo -- especially a media company -- because of the workload and the range of skills you need. David: We sort of have that hybrid approach here, where it’s a 50/50 partnership but Amy does have the primary leadership role in terms of our communications regarding business relationships, finance, etc.

As 50/50 partners, Amy and I discuss strategic decisions (finances, site development, company direction, etc.) But she’s the “point” person when it comes to third-party inquires (partnerships, etc.) who ping us.

I know not all 50/50 partnerships have happy endings. And I’m not suggesting one size fits all. But I can’t imagine launching a company solo — especially a media company — because of the workload and the range of skills you need.

]]> By: David Dempsey http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/comment-page-1/#comment-44668 David Dempsey Mon, 02 Mar 2009 20:29:32 +0000 http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/#comment-44668 The other interesting trend is that once you start to see some light at the end of the tunnel after bringing your startup to fruition, that is when people (colleagues, friends, etc.) seem to come out of the woodwork and start talking about partnerships. Where were all of you guys when I was in the terrifying first months of trying to get the business to take hold?! My wife is a good example of a successful 50/50 partnership. I personally think that 50/50 is potentially not ideal, and that maybe having one partner that plays the primary leadership role may be the better way to go. Of course this creates a little different dynamic too. I'd like to see what the "experts" who study this stuff for a living have to say... The other interesting trend is that once you start to see some light at the end of the tunnel after bringing your startup to fruition, that is when people (colleagues, friends, etc.) seem to come out of the woodwork and start talking about partnerships. Where were all of you guys when I was in the terrifying first months of trying to get the business to take hold?!

My wife is a good example of a successful 50/50 partnership. I personally think that 50/50 is potentially not ideal, and that maybe having one partner that plays the primary leadership role may be the better way to go. Of course this creates a little different dynamic too. I’d like to see what the “experts” who study this stuff for a living have to say…

]]> By: Joe Panettieri http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/comment-page-1/#comment-44499 Joe Panettieri Fri, 27 Feb 2009 23:58:35 +0000 http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/#comment-44499 David: You are correct to raise the fear of a partnership going bad. Amy Katz (my business partner) was pro-active when we started Nine Lives Media Inc. (MSPmentor's parent) as 50-50 partners. Amy asked all the hard/difficult questions about how to structure a partnership, how to ensure equal commitment from both partners, and how to manage a transition (financially and structurally) if one partner leaves. I hated the entire process of discussing "what if things go bad." And Amy didn't enjoy it either. But it was one of the first extended conversations we had with a lawyer. And getting it out of the way (right from the start) allowed us to focus on building a business rather than worrying about each partner's commitment to the business. The process proved we were totally committed. Can partnerships go bad? Absolutely. But I also realize this: Working together was the only way for Amy and me to build a successful, disruptive, growing media company with a complete set of skills (business development, sales, marketing, finance, partnerships, content, audience development, events, research, search engine optimization, etc.) under a single roof. That's a long list of traits. And we needed ALL of those traits for Nine Lives Media Inc. to succeed. And no one person has all of those traits. But you're right: If you don't have the right partner you are hosed. David: You are correct to raise the fear of a partnership going bad.

Amy Katz (my business partner) was pro-active when we started Nine Lives Media Inc. (MSPmentor’s parent) as 50-50 partners.

Amy asked all the hard/difficult questions about how to structure a partnership, how to ensure equal commitment from both partners, and how to manage a transition (financially and structurally) if one partner leaves.

I hated the entire process of discussing “what if things go bad.” And Amy didn’t enjoy it either. But it was one of the first extended conversations we had with a lawyer. And getting it out of the way (right from the start) allowed us to focus on building a business rather than worrying about each partner’s commitment to the business. The process proved we were totally committed.

Can partnerships go bad? Absolutely.

But I also realize this: Working together was the only way for Amy and me to build a successful, disruptive, growing media company with a complete set of skills (business development, sales, marketing, finance, partnerships, content, audience development, events, research, search engine optimization, etc.) under a single roof.

That’s a long list of traits. And we needed ALL of those traits for Nine Lives Media Inc. to succeed. And no one person has all of those traits.

But you’re right: If you don’t have the right partner you are hosed.

]]> By: David Dempsey http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/comment-page-1/#comment-44497 David Dempsey Fri, 27 Feb 2009 23:33:38 +0000 http://www.mspmentor.net/2009/02/27/the-number-one-reason-start-ups-succeed-or-fail/#comment-44497 Joe, I read somewhere, or heard somewhere that most business partnerships don't end well. That isn't to say it can't be done, but I think I have the challenge of trying to be a do-it-all guy to growing. I could add a business partner, but I feel like the I.T. people I know and trust who I would consider aren't on the same page as me (break/fix instead of MSP or under-charge for services, etc.) I also worry about what happens when it is time to sell the business, or when burnout happens. Now you have someone else depending on you, and the timing has to work for when you decide to sell, or aquire someone else, etc. My wife has been very fortunate in her HR consulting firm that she has a very good relationship with her business partner. I just have heard of so many ones going south. I could definately see having a second leadership role below mine, for example, a technical manager or something dd Joe,

I read somewhere, or heard somewhere that most business partnerships don’t end well. That isn’t to say it can’t be done, but I think I have the challenge of trying to be a do-it-all guy to growing. I could add a business partner, but I feel like the I.T. people I know and trust who I would consider aren’t on the same page as me (break/fix instead of MSP or under-charge for services, etc.) I also worry about what happens when it is time to sell the business, or when burnout happens. Now you have someone else depending on you, and the timing has to work for when you decide to sell, or aquire someone else, etc.

My wife has been very fortunate in her HR consulting firm that she has a very good relationship with her business partner. I just have heard of so many ones going south.

I could definately see having a second leadership role below mine, for example, a technical manager or something

dd

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