Tuesday, April 8, 2008

Money, Management, and Ego

OR: "Just because you gave me the $$$..."

I had a meeting yesterday with a VERY exciting prospect, Tanya Carpenter, founder of DStat, the first hair product ever created specifically to eliminate static electricity, instantly taming frizzy and flyaway hair. Brilliant!

However, Ms. Carpenter is in the process of forming her advisory board and management team and I'm concerned about what she might feel is an "obligation" to those who have made financial contributions to her dream. Here's my message to all budding entrepreneurs who have been fortunate enough to convince others to invest money in their vision... so what?!?!

You owe these people NOTHING more than to build a successful company and give them the largest return on their dollars. You don't owe them management roles, or Board seats, or any "say" whatsoever in your vision. As the founder/entrepreneur, it is your responsibility to guard your vision from outside distractions and alterations at all costs.

I cannot recommend highly enough that you get yourself involved in a CEO-network as quickly as possible. Let me know if I can guide you through this process or at least be a non-biased ear.

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