wallydownundy

I am continually amazed by the calibre of people in their own communications business.  Just this week I learned that a former financial PR consultant is leaving an in-house role to set up an independent shop.  I’ve been introduced to a two person government relations firm that looks really impressive.  I’m now in the throes of establishing my own fim.  Are these others competitors - or collaborators?

It’s hard in the initial stages of business planning to think of the end game.  Where do you want the business to be in five years time?  Many, many firms were set up then sold - some for princely sums.  The rumoured price tag of indpendent firm Third Person is in the high seven figures - possible as high as eight figures.  Imagine!

So a business plan needs to consider the end game - even at the outset.  Where do I want this to be in five years - or ten?  If size and stature matter, then I need to consider collaborators. 

The best advice I got from a small business owner is to take my time.  Allow a plethora of options to float before me before making hard and fast decisions.  I don’t need to rush.  I do need to focus.  It’s hard not staring down the barrel of a deadline - but this period of “creative confusion” is really important.

I do a lot of executive coaching and I recall telling a CEO that we all rush decisions.  Sometimes the best thing to do is to live in a moment of creative confusion.  See what pops up.  See what ideas change - and what remains hard and fast.  Will I be a sole advisor in a few years, or will I have collaborated with other professionals?

I’ll ruminate and let you know later…