Thursday, January 31, 2008

Technicality in Making Millions

I remember flipping through the pages about e-Myth, I realize that I am not quite a Business Person, but more Technical. Now I am here trying to create a business using my technical skill, and the future might not sounds very promising. So, how much of a businessman I need to become in order to succeed in the world of business (or just plain making money)?

Of cause we have successful business man like Richard Branson or Donald Trump, which I am nothing like them. Maybe Warren Buffet is fundamentally a technical person? Then we have a technical person who is good in business, such as Bill Gates, Steve Jobs, Jerry Yang. Luckily we have the more technical billionaire co-founder such as Paul Allen, Steve Wozniak and David Filo.

Is there still hope? Somehow in the world of Internet and Technology, technicality and innovation do play an important role and could make you rich. Having said that, every successful business still needs a very sound businessman to run the business. So my question is, when should we take in a business person to run the business like a business, rather than just riding on passion and chaos?

Not that long ago, 1 person is interested to invest in MMW Property while the other want to bet his money in MMW Food. I was motivated by the idea of taking in cash and expand the business. After thinking for a while, I kinda feel that perhaps it’s not the time yet.

Why not take the money (and run), haha:
  • I do feel the business idea is good, but I haven’t managed to prove anything or show any success yet. In my mind, I feel uneasy accepting money from friends (stranger is fine with me) unless I am quite certain that I won’t burnt your cash.
  • I am quite worry about corporation, bureaucracy, partnership and responsibilities towards shareholders might take the fun and innovation out of the project. Currently I am driven by passion and dream, and perhaps I am running away from the business aspects of things.
  • Commitment. When someone pay me to do something, I feel the need to deliver my time, effort and result. With my freelancing and teaching engagements, I think it might be a bit unfair to them. I can’t show up in the weekly meeting saying I didn’t do a thing for the entire week (or wanted go to Annapurna for 2 weeks), or pretend to have done something.
  • I feel like venturing freely for a little while longer, do whatever next business idea that comes to my mind without going through meetings and approvals, as long as I can still afford it (and time is catching up as well)
  • I am not sure I would get the Business help I am looking for. I need not just money, I need help to run the business.

I do believe I need to be “corporatise” sometime in the future, run the business in a more “professional” way. There is a chance I am running away from commitment and challenges, which is not very good. No matter how much business or marketing tricks I learn, deep down I am still a technical person.

Deep in my heart, I always wanted a business which is small and lean. Make enough money to support my lifestyle, but don’t consume too much of my time or gave me more headaches (idea huh? but whatever the mind can conceived, it is possible). Make the business fun and unconventionally, and I don’t need to be a billionaire (perhaps a few millions in my lifetime – they said you could earned RM 1 million easily through employment nowadays, and our country have 4000++ of million dollar EPF holders).

Let me live my dream for a while to see what I can do about it :)

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