Guys, im very struggling right now. I only have around $ 200 in my bank account.
I want to make an auction application specific to the sale of pets such as koi fish. where in this pandemic condition sales about hobbies are very salable.
to make it I will ask my friend to help me or find a freelance worker.
very difficult to find a job for me. (for a reason)
Please advise !!
I use google translate. Sorry..
Good day to all.
Background, I cofounded and am the CEO of a tech startup.
Started the company almost 5 years ago, with the founding CTO having to leave due to an unfortunate illness from her daughter. With her blessing and help, I rehired someone new and took it from there to grow the company in the following years. We are around 20 employees today.
The past months (year?) has been a bit difficult for I'm sure may startups out there, as it has been for us, and I have been working tirelessly with the help of my COO and CTO, not to grow, but to survive.
Unfortunately, or the past couple of months I have been feeling a lot of frustration while working with them. While in the past years they would follow my leadership and decisions, nowadays it feels like the automatically want to rebuff any idea or suggestion that I may have.
Sometime it even feels like they want to fight the most trivial decisions or suggestions I make, just to make a point.
What I feel would take a day to decide and put people to work, now feels like days of constant going back and forth to find a compromise on the little details. It even feels they tag-team against me, even though they are employees and not founders/partners.
I feel tired.
My management style has always been the participation style, where I like to take input from the parties involved, and make a final decision. I feel however that they are taking advantage of this trust, and the fact that they know that in this current (financial) times it would be impossible for me to hire a new CXO team, with such specific tech and industry knowledge.
Sometimes I dream that I would just tell them to STFU and do as they are told, but I know that they'll do with the worst intentions and it is not the best examples of leadership.
I have thought about maybe letting go the COO, as I could take on the role myself, but it would probably mean that the CTO would leave, putting us in a difficult spot.
What can I do to regain respect without taking drastic decisions?
Thank you for your help.
You can read so much good advise on leadership and yet I feel much of it is nice-sounding superficial stuff that is mostly useless in practice.
“Good leaders are great listeners!“ Oh that sounds so wise, doesn‘t it? We all know listening is good, it shows interest and it sounds so humble. Yet, I have seen great leaders and terrible leaders and they usually all listen a lot. The differences s one has a group picked for being competent and Hallenhandballes and one has a group of so called „aligned minds“, which basically means they have become indoctrinated and therefore build a very effective echo chamber. These leaders have unpentratable bubbles around them, that constantly confirm their ideas. As long as they are right this is great, once they are not right . . . Go figure.
„A leader is there to make everyone else better.“ That one I love. How about those who do not fit? Can a great leader magically make them better? Does he fire them? Does it mean who cannot grow needs to go? I think the idea that is simplified here is, that a Boss is not working, he is empowering everyone else to do a great job. That one is true. Also it becomes also a much colder and less social reality when you have people under you who do not work so well. In what we call a „high performance culture“ there is only room for high-performers. A truth. So I believe the more true and less social sounding sentence is: „A leader can make a team better and sort out those who cannot contribute in a way that does not hurt the overall spirit.“
I could go on with this. I have been thrown into leadership positions twice in my life and I found there were two things I rally needed to do. First you take responsibility, therefore you do not blame others, but you blame yourself and that leads to a culture where people are not pointing fingers at each other, but can take risks and admit failure. Second one is the in my opinion the true job of a leader.
A leader endures the insecurities for everyone else.
You show up in office and show confidence. You tell people you are gonna make it. You make them believe they can do it. But every complex mission sees a million internal and external obstacles. Some are slow working poisons, some are massive icebergs. As a leader you endure them, you deal with them, often alone and without help and shield your team or company from those. Truth is, that makes being the Leader the loneliest job on the planet. Hopefully you get a boost for your ego out of it (I did not), but expect you will lie awake at night, while everyone sleeps well, trusting you to handle impossible odds against you.
I am being asked to invest in a startup that has a potential first year revenue of around $ 1M, with planned expansion within the first couple years to get to around $ 3M in revenue. I've reviewed the business plan and numbers and it all checks out.
The ask is around $ 70K for about 17% share.
I'm trying to see the best way of funding this.
Would it be better to go majority cash and leverage a little credit or leverage some of the 0% interest (20 mo) credit cards and retain my cash. (I have a 850 credit score and only debt currently is House/Car)
The goal is to have initial investment paid back by the first year of operating.
Please give me some advice or suggestions.