I’m great at building software and helping others fulfill their tech dreams. And I’m good at leading and training teams on how to do the same thing. However, I absolutely suck at business. Want to know the unfortunate part? I know why.
Using It to My Advantage
We all have weaknesses. We should all be honest and know what we are not so good at. This knowledge has allowed me to succeed and find increased pleasure in what I do. So, while I am about to confess my most significant weakness, know it is possible to use them to your advantage.
My Addiction
There is something addictive to breathing life into an idea and seeing something good come from nothing. This is why I became addicted to software development and have many hobbies around building physical things; a tiny house on wheels, cabinetry for New England Crown & Cabinetry, our homesteading projects here in Florida, etc. I genuinely love it. This is why I tell people that I’ll never retire. To retire means that what I do somehow feels like a job. I get paid for a hobby.
How I Realized My Problem
Robert Kiyosaki and Donald Trump published a book back in 2011 that I absolutely love. I own physical copies of it and have listened to the audio version countless times. In fact, as I was looking for the publishing date, I was compelled to buy it again. This book described my problem so well that I felt they were talking to me. Regardless of what you may think of The Donald’s political views or him as a person, if you have any entrepreneurial drive, I implore you to pick up a copy of their book, “The Midas Touch,” and study it from cover to cover. You will be grateful for the minutes you invest.
A Few of My Failures
From a software and money standpoint, I’ve done amazingly well. Over the years, I have invented patented technologies, generated gobs of money from my software, built and sold companies, and even sold a few software products to some big-name corporations. Granted, there have been others that have failed miserably, and I have completely lost my shirt. And a few times, I have even had to declare bankruptcy! That’s right… twice!
TuneCentral (Napster Was Not First)
Today, people are streaming music. However, what started all that was the creation of the MP3 and the act of “ripping” audio CDs. Many armchair historians credit Napster as the innovator who brought mass distribution of MP3s to the world and had a significant part in destroying the music industry. However, be it good or bad, my creation, TuneCentral, was around long before Napster. My software invention, company, websites, and applications provided a way to rip, sell, and buy MP3s. It was a gold mine. However, I shut it down before it ever really got started. As soon as it gained traction, I received a “Cease And Desist” letter from the Recording Industry Association of America (RIAA). That letter pained a picture of the harm I was causing to recording artists. It killed me. From then on, I couldn’t sleep and felt like a villain by fixing a bug. Shutting it down allowed me to cleanse myself of the guilt… at least to some extent. Napster would soon hit the scene, and the guys behind it would rake in millions.
SpamJammer
From a monetary perspective, SpamJammer did great. Before laws preventing bulk email, “spam” was a fledgling nuisance. I was a hard-core networking geek at the time, excelling in Cisco and working for companies like Sprint designing software-enhanced infrastructure. Being “plugged into” companies’ back ends allowed me to see the pains of fighting spam. So, I invented a way to do it. Considering how natural my invention seems, it’s doubtful anyone will actually believe me these days. Still, I created a system to use a “URL Confirmation Email” where incoming messages would be quarantined until the sender clicked an automated link. Back then nobody was using this technique. In fact, another company actually tried patenting the technique. SpamJammer worked amazingly well and had over a 98% success rate. Fortunately, it was so early in the anti-spam concept that I was able to sell my product to a major antivirus company where it became part of their core. However, it could have been so much more if I had hung onto it.
For those skeptics, there was more to SpamJammer than just an email link. My initial POC used custom-branded rack-mounted servers with shiny yellow faceplates showing off the embossed logo. As soon as a “node” was patched in and turned on, it would discover the other SpamJammer nodes, inject itself into the cluster, and automatically load-balance the processing and storage of messages. It was the complete package and this touch gave the solution a bit of the “wow factor” for the IT pros that reviewed it.
Multiple Consulting Companies
When I realized I was moving to slow to build everything myself, I tried creating consulting companies. My first, Perfect 9 eVentures, only had a few significant clients that brought in real money. My incentive model felt unique because I was attracting gifted developers, paying them six figures for a few months of work, and rapidly producing products. The pace, unfortunately, was too much for me to keep up with since I was finding developers, vetting them, coding with them while securing clients, and acting as a project manager. Another I created, devThing, never really got off the ground. My last one, Spotless Software, did best. However, I eventually had to walk away. As with the others, I was “in the trenches” so much that, while the companies we were helping loved us and were quite successful, it was not sustainable. This time, I brought on partners for them to grow and run the business; on paper, this was the right move. However, I needed to be the technical voice of every project and startup we spun off. This meant constantly working up front to secure funding, acting as the architect and technical lead for multiple simultaneous projects, and remaining part of the corporate functionality.
All in all, we were thriving and making loads of money. And, I could have continued in this forever. However, the company itself simply wasn’t growing. There was no “golden parachute” planned. After a decade, I had to walk away. Sadly, it collapsed afterward.
Employee vs Entprenure
Simply put, if a business is structured so that you are absolutely required to be present every step of the way, it is a failure. It will never grow because you… or in my case, me… are spread so thin that it is impossible to truly excel in any one area. In the end, you collect a paycheck, just the same as any other job, regardless of whether you own the company.
Some people feel as if they must micromanage every process, and this is one reason they are glued to all aspects. That is certainly not me. I would rather hire people who know more than me and trust them to execute. And I will happily remove those who cannot.
From a business perspective, my addiction to building is just as bad. There’s a part of me that pulls me into the technical side. I crave finding solutions to problems and seeing the software I create benefit someone’s life or increase a company’s bottom line. All of this is great for a company if I am their employee or consultant; however, when it’s my money funding a company, it hurts because I often become a bottleneck.
Knowledge Is Power
The best aspect of knowing what you suck at is that you know what not to do. For me, it breaks down into a few simple rules.
Partner With Business Gurus
Certain people are simply great at networking, forming relationships, negotiating, and otherwise making money. While I can certainly do it, it just doesn’t come naturally. There are people out there who can run circles around me in this area.
Stick to Hands-On Architecture
My brain has been responsible for inventing and leading the development of systems for some of the biggest companies; Sony, Sprint, Merrill Lynch, Lloyd’s of London, UPS, and others. But I’ve seldom done it alone. Working with teams of developers, technologists, and clients has allowed me to build lasting relationships while helping shape some of the brightest minds in the software development community. What is critical here is the “hands-on” aspect, which often seems odd to others at my level. I have no problem rolling up my sleeves to help someone overcome a hurdle or learn.
The Power to Let Go
In the Army’s ANOC & BNOC training they taught us how to lead and empower our men to execute. What I learned from the consulting companies is that I needed to empower more, trust more, and stop holding every developer to my standard. My remaining side-by-side with the dev teams hurt everyone. So, while I will always remain hands-on, I have had better success grooming developers, teaching them through my coding examples, helping them follow the patterns, and listening to their feedback along the way. While every app or product may not be the perfect image to what is in my mind, it has allowed my teams to release more products and has helped grow a number of talented men and women.
Let Someone Else Close the Deal
In almost every pitch, there is that time when an investor needs to understand just enough of the “secret sauce” to feel confident. Get me a seat at the table, and I can easily paint the picture. Connect me with someone technical from the other side, and I can virtually guarantee a contract. However, I am not the right fit when it comes to asking for the signature. Assuming you have the right partners, this generally means simply knowing when to shut up.
My Road Ahead
I have a good 50 years left on this planet. And, if God is willing, I will happily spend every one of them writing code, launching products, and helping others breathe life into their technology dreams. Do I see another million-dollar check in my future? More than likely. When the time is right, the opportunity will present itself. In the meantime, I will keep doing what I love.
