“My greatest skill has been to want little”. These are the words of the transcendentalist writer Henry David Thoreau, author of the terrific self-reflection book Walden, or Life in the Woods. We are so used to the maxim, “More is better,” that we implement it where appropriate and where not. But any idea is essentially a tool and requires knowing the limits of its application to avoid injury at work.
In business, the frugality of the founder’s desires can protect him from unnecessary anxiety and mistakes. For example, when searching for an investor, an entrepreneur may try to find an all-in-one solution–an uninterrupted provider of capital, a wise mentor and an energetic business development partner. If there is such an investor in any universe, the likelihood of meeting him in this one is negligible. It is more likely that the founder will bite on the promises of a wily investor who knows the secret entrepreneurial dreams. It is known that the search for a magician leads to a storyteller. The result of cooperation will be disappointment, claims and corporate conflict.
It is more reasonable to lower your expectations by accepting reality as it is: “The main thing is for the investor to pay every agreed tranche on time, and then not to interfere with me building this business. If it suddenly turns out that he can sometimes suggest something clever - hallelujah - that will be the cherry on the cake.” This mindset will help the founder speak bluntly to potential investors: “I expect only financial capital from you. And any specific expertise I will later buy where I choose myself.” This negotiating position is very strong. As entrepreneur and investor Naval Ravikant astutely observed, “Negotiations are won by whoever cares less..” May the force be with you!
Sincerely yours,
-Alexander
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