partnerships

How to deal with broken partnerships

Over the last 18 months, I have been attempting to break through with a second SaaS Application to follow up RankMyKeyword.com. The idea I had was to bootstrap it by teaming up with a fellow web designer and web developer to create a robust team each containing a person specialized in a critical aspect of a successful SaaS app; a marketer (me), a web designer, and a web developer. It seem, at the time, like nothing could possibly stand in the way of creative genius. Heck, I even registered the domain triopreneur.com to coin the term as I assumed it would rapidly become the next “thing” in the entrepreneurial community like “solopreneur”, “micropreneur”, and “sidepreneur”.

What I discovered is that the more people you add to a bootstrap, the more likely you’ll fail. Looking back, I think it comes to where people are at mentally. Not everyone is ready to dedicate so much “free time” to something that may or may not work out and when you mix in family and day time jobs, you get varying degrees of commitment. That is not to fault anyone, but it has severely changed my mindset back to doing it solo or with one other person as a partner.

I am not against partnerships, rather I think they are vital to the creative process. The more brainpower the better the product and that is something that I’ll never stop believing in. The problem is, sometimes peoples priorities change and after two consecutive failures due to the human factor with the second one being on the cusp of something special, I needed to recommit myself to the idea of working on side projects.

Fortunately, I found a couple of quotes to get the motivation going again.

“There’s lots of bad reasons to start a company. But there’s only one good, legitimate reason, and I think you know what it is: it’s to change the world.” ~Phil Libin, CEO of Evernote

This quote gave me the feeling that though a lot can go wrong, the changing the world (my world especially) is worth the endeavor.

“I have not failed. I’ve just found 10,000 ways that won’t work.” ~Thomas Edison

The failure part is such a drag, but with each failure I have increased my experience and knowledge, thus making me a better entrepreneur and business person.

So after reading the ebook The Ultimate Guide to Dropshipping, I decided it was time to try something that did not require web design or web development. That way, if a partnership disintegrates, I will be left with something I can finish with my own creative energy and expertise.

Once again, I am teaming up with a friend who has expertise and experience I do not possess. However, this time, I can control whether or not it is ultimately another failed attempt at something special. The thought has reinvigorated me after five months of expecting the worse only to unfortunately see the worse come to fruition.

Ain’t being an entrepreneur grand?