Shane Black Daily Musing

Don’t start a business to keep forever

I heard this advice soon after losing my big group of companies.

It’s advice I wish I had heard earlier on.

When you build a business with the intention of keeping it forever, you get so much more emotionally involved in it.

Your judgement on making the right short and medium term decisions can often be clouded by your desire to build something to last forever.

If you start a business with the goal of selling it or getting it to a stage for investors, you do things differently:

You focus on getting systems and processes in place as quickly as possible.

You don’t obsess about trying to get everything perfect.

You hire people based on what will move the business forward now.

You work out how you can step out of the day-to-day running of the business faster.

Even if you want to build a business to keep, build it as if you were going to sell it. You’ll launch and grow it quicker this way. This way, if things do change, you’re in a better position to sell the business and move onto a new project if something comes up.

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This is my personal blog, where I share the books I’m reading, what I’m learning, and the challenges I’m setting myself. I hope you find some value here.

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