I built this company from scratch. We have market leadership in two areas of the fastest-growing industries in the world. Our technology and company is highly respected. Although I love this company, I don't feel challenged; in fact I'm quite bored.
I don't know what to do and feel really bad as my staff is extremely passionate.
That is perfectly normal and really just fine.
Creating a company, growing a company and maintaining a company are three different jobs and the best fit is rarely the same person.
Now that your creation has matured, it may be time for you to hand it over to someone else who will protect your investment while you find new areas of personal growth, such as another startup for example.
You probably need to find yourself an operational successor you'll be happy with, gradually hand over your responsibilities until your level of involvement matches your interest - in your case that would probably be board member / adviser only - and enjoy being a shareholder of a valuable company.
Try to think about to put your company into a blockchain structure, anonymous, global, without location, using smartcontracts.
Blockchain is linked to bit coin but change your mindset into blockchain technology can change everything : money without banks, identities without government, and much more!
What do you do with your succesful company?
In the past I have seen good examples of succesful entrepreneurs like: Brian wrong (kuip), Garreth Gee(scanned)
If you like to chat...contact me for free!
Phase yourself out.
Quietly identify the person inside your company or outside it who's best qualified to lead operations after you step back. Figure out how to structure a turnover in terms of equity, salary, incentives, and accountability.
After you've figured out how you might step back – whether selling the company outright or delegating responsibility – interview the candidates. If somebody capable is eager to take over, then train them.
Phase in your replacement. You may find mentoring that person will reinvigorate your interest in the processes currently boring you to death.
After you're sure that the company will thrive without you, then you know you really succeeded in building something bigger than yourself. At that point, you can turn your attention to the next project.
Nope. I can't help you with any of this.
Set a goal that you can barely reach. Make contests, challenges, etc. If you are still bored, give yourself a limited amount of money and challenge yourself to start a new company using only those funds.
I am not trying to sell you on calling me. Really, I am pretty busy with my businesses and consulting. However, I need more info before I could have a greater impact in helping you.
Ask, Ask, Ask, then Ask again.
Here is $10,000 worth of information for free and in a nutshell.
Concentrate on the 3 M's. There are actually 7, but 3 will do for now. These are Market, Message, and Media. They come in that order.
Who is your target market (customer, clients, buyers, users, etc.)?
Tailor your laser focused message for this target market.
What is the best media mix to get your message to that market?
Here's what you do...first, make it an offer that is so incredible that they cannot resist. Secondly, do all the work for them. Make it so easy to make the purchase now that they can do it virtually without effort. Thirdly, give them an incentive to act right now. Fourthly, offer an almost unbelievable guarantee. Fifth, offer a bonus for acting now. There are many other incredible steps, but these steps should help the novice to the professional sell anything.
Whether you are selling B2B or B2C, you have to focus on selling to only one person. You can actually sell to one person at a time while selling to millions at a time. They are one and the same. Don't get off track, what we call digital marketing selling is just selling in print. And that has not changed since Cluade Hopkins wrote "Scientific Advertising." Really long before he wrote the book.
The secret to success: I have had the pleasure of knowing and working with some of the biggest names in business, celebrities, actors, entrepreneurs, business people, and companies from startup to billion dollar operations. The number one reason for their success is doing what they know and love while doing it in new, creative, and innovative ways.
Ask, Ask, Ask. Have thick skin and learn from each "mistake." In a short while, the market will tell you what you need to do and who and what you need to ask. But get started now even if that just means asking a contact on LinkedIn.
While you are thinking, think big and think of something at least 1% better, newer, or different. And being cheaper is not a winning strategy.
Make decisions quickly and change decisions slowly..unless you are actually going off a cliff.
Remember these two 11 letter words...persistence and consistency. They are two of the most important tools ever invented.
Treat everybody you talk to and everybody you meet (including yourself) like each is your number one million dollar customer.
Bootstrap when possible and reasonable. Read "How To Get Rich" by Felix Dennis. Or better yet just remember the camel's nose in the tent story.
However, sometimes you just need to make a deal.
Listen, in any business you have to take some chances and some risks. Make sure you don't need a license and go for it. Remember, timid business people have skinny kids. Paraphrased from Zig Ziglar.
Best of luck,
Take massive action and never give up.
Michael Irvin, MBA, RN