Friday, January 10, 2014

Reloading, Runways and Tatoos

In the world of entrepreneurship you have lots of stories about successful entrepreneurs starting with an idea, growing it and making millions.  These stories make it sound so appealing.  These stories make you want to quit your crappy job tomorrow and start something new.  The reality is the path less taken is tough with few making it out of the woods on the other side with a profitable business, let alone millions of dollars.
I am one of those stories of who got stuck in the deep dark woods of Entrepreneurville not once, but twice.  The good thing about the woods is you always end up finding your way out at some point.  My most recent exit from the woods took place on a beautiful September day in 2009 when I called some good friends at a great company and I started reloading.
 My second startup, BigLeap GPS, was a location based company focused on finding lost seniors and children by use of a very small GPS device or phone.  After a letter of intent was presented to me and I stopped fundraising I felt I had made it successfully to the other side of the woods, or at least I could see the light.  Well then came the Great Recession and everything changed when the letter of intent disappeared and overnight I had no runway left.  So I did what many of us have done, I started extending my runway by consulting and finding short term gigs to help me continue down the path.  When everything started falling apart around me, this was when I knew it was time to end the ride.  Hence the phone call to my good friends and a great company where I remained for almost 4 years.
Over those nearly 4 years accounts were paid, mortgages were caught up and overall happiness returned to the Milam household.  When you pour everything you have into what you believe it takes some time to build back up, pay off your debts and start looking for what is next.
Looking back I have come to realize my first two ventures were not failures in any sense of the word.  They sustained my family for more than 4 years, I learned more about all aspects of business then I could have ever learned by doing anything else, and each day that I lived that life I became closer and closer to making it.  Both businesses that I started are still in existence.  They are still doing what I set out to do.  But I personally ran out of runway both times but I did make it further down the runway each time.  Sounds like I like the pain.  Like some folks who like tattoos not for their beauty but for the pain and just keep going back to the needle.  I am convinced I am going to keep going back to the needle until my body is covered (I really only have two tattoos that is).
It feels good to sit here and write this especially after everything I have been through.  I am glad my drive to create took a break for a little while so I could get back on solid financial footing.  All creative juices tend to freeze up when you are in a machine.  Once out of the machine it is hard to turn back on.  I used to not even try to be creative.  I would write, create, and think of all the possibilities in my life and business all the time.  When you unplug and are removed from that creative culture you have to try super hard to be creative.  I compare it to trying to boil water on the sidewalk to get the creative juices moving again.  So I have plugged back in and surrounded myself with those friends who are experts at sidewalk cooking.  Don’t eat the eggs however, kinda crunchy.
I was initially embarrassed to re-enter the loving network of my entrepreneurial friends.  It was hard for me to swallow big and reach back out.  I had disappeared for about 4 years inside a big company with little outlets for a tattoo loving entrepreneur.  What I found, by the way, was the exact same community that I had left.  The same friends remained who would do anything for me if I needed them.  Some of those friends were with me in the woods, some are still in there.  I have faith that they will make it.  I have faith we all will make it.

1 comment:

Unknown said...

Great post and I can relate on many levels. Unfortunately, in my situation there was no revenue nor a lot of investment so there was little runway and no sustainable income. I owe a lot to my wife for supporting me (us) both emotionally and financially. Now I will toward recovering - getting back to a stable income - and then keep exploring ideas until I'm ready to do it again.

Appreciate the heads up on this post.