The Time Deficit
Photo owned by peregrine blue (cc)
Pat tagged me ages ago, in a great post called ‘How Much Are You Worth’. I was just about to move domains, so I’m just getting around to replying now. Apologies.
The question he poses is deceptively easy. Given the situation that Pat is in – managing his own expanding business and being an advisor to many startups, how should he divide his time so that he help in making business superstars of tomorrow, while learning to say no. It’s a very difficult situation. How can one cultivate entrepreneurship and business know-how helping as many people as possible, without being used?
As a business man, Pat is tireless. He speeds at 200 MPH, working exceptionally hard on wildly successful products like MAXroam and Twitterfone. However, in the middle of his hectic business schedule, he helps early-stage startups. He introduces them to like-minded business souls and gives them invaluable feedback. There’s only one Pat Phelan. He’s a unique entity. At times though, I wonder if he isn’t being used just a little. I’m also curious if the people that seek and get advice from him really understand the value of that nugget or consider the throughput of business savvy he gifts them. He might blush, but it’s clear that he gives too much of his time to a lot of small startups. I’m sure he’d balk at the suggestion, but maybe he needs to sit back and take stock of those he is helping or plans to help, to see if the cost/benefit equation is something he can live with.
Time is precious, Pat. Whether it be in money or in family memories, I think you ought to see if that *one* extra commitment is really worth signing up to when you see your family, business and sanity sitting beside it. Pat, Jackie asks some great questions that you should take a look at. I think that answering those questions will help you make better choices on the projects you help out on. Sabrina also has some sound advice.
Somehow, I’m also reminded of Damien’s ‘Get Out And Push’ post. There are a lot of good business heads about. People that have built successful businesses from the ground up. People that have profited over the past decade or so from the gilt Celtic Tiger in lots of different business sectors, not just technology. Where are these business maestros? Why are they not giving back to the early entrepreneur ecosystem? And what about those startups who are finally seeing VC money – could they not give back to the fellas on the bottom rung of industry? The more that help, the better.
Everyone starting in business needs a boost, but wouldn’t be nice if more business people took some time at the tiller and helped to guide those fledgling businesses through choppy waters? Pat Phelan is just one man, despite my best efforts in cloning him.