Monday, July 30, 2012

What's Your Number?

There are certain transitions that seem logical or obvious but aren't as easy to make as you would think. Being a entrepreneur doesn't mean you will be a successful business owner. Many entrepreneurs struggle to make that transition to CEO, and often times their companies out-grow them. That's why many of the most successful entrepreneurs have had a multitude of successful start-ups, and end up taking a role on the board of directors, or advisors, rather than drive their company into the ground. They know their strengths, and more importantly they know who to hire to get the job they need done, done.

The thing with a successful business plan is that you have to know your niche, and have an exit strategy. Entrepreneurs focus on the beginning, the establishment -- developing an idea or concept; many times which comes from creating a convenience that they wanted but couldn't find. Their end is when they either bow out gracefully, sell or...become the reason it fails.

When ever you start a business, you always have to know your exit strategy -- or know where to go once you've reached what you were working for. Whether you have a number you want to reach financially so you can walk away and never have to work again (ie, retirement), or your company goes in a direction you do not agree with; and part ways. 

Initially, my plan was to establish this company, remain as majority stock holder and appoint a CEO to manage the team and run the show so I could focus my energy elsewhere -- at the time it was returning to being an artist; now its more about philanthropy. Since I've grown, that has somewhat changed. My heart isn't in being a performer, as much as I may miss it or enjoy the brief moments I get to be on stage. I mean, the plan is the same but I wouldn't go back to being an artist; not full-time anyway. [The reasons I wanted to be an artists were rooted in the idea that that would be the best, and only, way I knew how to reach the people and community, and contribute to making changes, and the impact in my community. I now know better ways to initiate the changes I want to see and make the contributions I want to make...but that is a blog for another day..]

I wouldn't consider myself an entrepreneur, although over the past few years I have started growing into that role and contributing to the start-up of many different projects that I am passionate about; I never would have been able to be at this position without AG One. I didn't start AG One to be an entrepreneur. We started it because we knew what we wanted to do, and no one would give us the platform to do that unless we did it ourselves. I never went into the music industry with the sole purpose of getting rich or obtaining fame, but I was conscious of the fact that it was a possibility -- the good and bad.

The reason I'm reflecting on this today is because while I was at my buddy's house helping him unpack from his move he asked me, "Where do you see yourself and where do you want to be, will you be doing AG One forever, or do you plan to walk away?" Honestly, no I won't do it forever. Once I reach my number -- not including assets, property, or investments -- I will gladly walk away and move into the next phase of my career and life. I would be able to dedicate my time to my family, and building my own family; and being involved in the philantrophic and community organizations...maybe even get my credentials and get back in the classroom. But for the time being, I have a mission to accomplish -- and these are all career moves that will get me to the place that I need, and want, to be in order to really make the passion moves I intend to make.

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