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Intro: I used to run a profitable Facebook gaming company but got bored of it and let it die slowly. Today I believe I should have made better use of my compa

by aymeric 15y ago

Intro: I used to run a profitable Facebook gaming company but got bored of it and let it die slowly. Today I believe I should have made better use of my company assets (I had 12 millions users) to help me with my current ventures. Suggestions: Have you read the E-Myth book? It seems that you are facing a problem the book discusses (technician vs manager vs entrepreneur). On Mixergy someone (can't remember who) spoke about how turning a service company into a product company with a repeatable sales process helped him scale. In your case it would allow you to step away. Instead of being the centre of your company, couldn't you create a product (a newsletter, an annual report, training, etc...) that you could sell? Could you reinvest some of your revenues into training people to replace you?

zeynalov 15y ago
Great tips Aymeric. I'll read the book and try to find the interview on mixergy. I have a similar story. In 2003 I made a chat-website in my country, in first 3 month 1 million people was registered and daily 400-500 people had chatted there. Some have dated and married through my website. It was biggest online chat portal in Azerbaijan. But I was only 18 and didn't know anyting about marketing, monetizing, etc. And after starting to study medicine, I killed it. Maybe my biggest mistake of my life. For your last question: I can, but it's very dangerous to teach everything to someone what I do and how I do it. When someone will know all the secrets, how to do the business, he can make his own business. I made a non-compete contract with them but it's only 2 years - http://en.wikipedia.org/wiki/Non-compete_clause http://en.wikipedia.org/wiki/Non-compete_clause Therefore I broke the work down to the several parts, hired some workers, teach their part of work. But someone must manage them, and for now I do that. The reason why the business is so successful, that there is no other company doing what we do, because they can't.
- aymeric 15y ago
  You have a root problem: you need to have a team you can trust or you need to trust the team you have. If you fear this or that from your team, you will always rely on yourself and I believe you will reproduce the same pattern in other ventures and you will get stuck with whatever you undertake. Invest in finding the right person to manage your company.

by aymeric 15y ago

zeynalov 15y ago

Great tips Aymeric. I'll read the book and try to find the interview on mixergy. I have a similar story. In 2003 I made a chat-website in my country, in first 3 month 1 million people was registered and daily 400-500 people had chatted there. Some have dated and married through my website. It was biggest online chat portal in Azerbaijan. But I was only 18 and didn't know anyting about marketing, monetizing, etc. And after starting to study medicine, I killed it. Maybe my biggest mistake of my life. For your last question: I can, but it's very dangerous to teach everything to someone what I do and how I do it. When someone will know all the secrets, how to do the business, he can make his own business. I made a non-compete contract with them but it's only 2 years - http://en.wikipedia.org/wiki/Non-compete_clause http://en.wikipedia.org/wiki/Non-compete_clause Therefore I broke the work down to the several parts, hired some workers, teach their part of work. But someone must manage them, and for now I do that. The reason why the business is so successful, that there is no other company doing what we do, because they can't.

aymeric 15y ago
You have a root problem: you need to have a team you can trust or you need to trust the team you have. If you fear this or that from your team, you will always rely on yourself and I believe you will reproduce the same pattern in other ventures and you will get stuck with whatever you undertake. Invest in finding the right person to manage your company.