Imagine you receive 10 million dollars fund injection for your business today. What would you do with it? Where exactly would you invest it within the next 6 months so that by the end of 12 months it will translate into profits? So that 18 months from now, you can show your investor a record of inflow or make the first payment for the loan given? So that in 3 years time it will generate good return on investment so that your investor will not rather call back the 10 million capital? So that in 5 years time you can pay back the 10 million dollars capital investments and negotiate for a bigger share in the ownership and start to call it really “your business”? Do you have a PLAN? Because all above mentioned are the basic expectations from an investor or loan giver. And if not better, these are the same terms/expectations that were given to Steve Jobs, Mark Zukerberg etc. So what is your plan to become the next Elton Musk because you thought the only reason why you are not there yet is because you don’t have the funding they do?
So now you have it. The point is, are you ready? Are you ready to grow over night into a much larger, 10 times/100 times more scalable business? Even if you are ready, do you have the management team that can manage 10 times/100 times bigger business operations? We always blame hard luck or the fact that chances were not fair. But if good luck really comes your way, are you ready?
When I first managed a division in a private equity fund after a fresh buy out, I was titled the youngest managing director on wall street. I truly thought that was my “jam”, my “jam” finally took place. The matter of fact is I almost screwed up. I was at the age of 23 managing a highly intellectual team of ivy league graduates who attained nothing less than double of my education. I couldn’t gain their respect and they were unwilling to co-operate to my assignments. Then what did I do? I was the boss but I had to learn their ways, their language, their style of “coolness”. I had to necessarily equip myself with something that no matter how high of education they gain they can never get. I became an artist of management.
When I was first given the chance to manage a construction firm of a little over a 100 people. I again almost failed epically (myself and the company). This time, I was dealing with much lower level people (laborers and middle management people who rose from labors). They were not complex like the ivy leagues graduates I dealt with previously. They were simple, simple but difficult on a whole different level. So, I needed to learn their ways especially their style of communication. But this time, I did much faster. If I had not experienced these things, I wouldn’t be managing the four companies of the scale I do now. Every small task literally makes me better for the next bigger task.
The truth of the matter is more gains always comes with more responsibilities. Sometimes more responsibilities even comes before the gains. You need to have a plan.
If you want to get that 10 million dollars today, you better already had a plan yesterday.