A few days ago I wrote a blog entry about “Bob’s rules” … this blog entry is about another one of Bob’s rules, based upon a Benjamin Franklin quote.
I am working with a small group of entrepreneurs on a start up idea and one of the toughest parts of any start up is assigning value to the entity, deciding upon the ownership structure and determining the cost to be assigned to that ownership.
These can be some of the toughest early discussions and can certainly cause some potential partners to back out. When we started Eagle we had at least one potential partner who backed away because he felt the deal was not fair to him … bet he’s sorry now!
Our recent meeting involved several people who are used to being the leader of their own organization, but we were able to reach consensus. A common goal of “making this work”, a willingness to compromise and a vision of future success meant that we were all able to reach agreement.
During the discussion we were trying to evaluate contribution to the entity, versus equity ownership. One of our group made the very true statement … Lots of people “talk” about business opportunities, but it is the few willing to actually “do something” that will be successful.
“Well done is better than well said” … Benjamin Franklin.
I am an admirer of people who are good with words (well said …). I envy their eloquence and wish I too had that gift. Having said that I am someone who acts, who is willing to roll my sleeves up and make things happen.
When I DO something well the return on investment is far greater than talking about it. I might not always do things as well as I would like … but if I DO enough things, then something will work.
If I just TALK about “doing things”, then it will never result in a return!
It seems like our recent reunion with Bob could be the inspiration for a few of these blog entries! Bob was certainly someone who took action and made things happen … and I can’t remember him ever NOT doing things well!
Food for thought? NO … food for action!