I would suggest that, at some point in our careers, many of us dream about running our own business, especially when we read about the latest success story in The Nassau Guardian or feel unfulfilled in our current job. However, most of us are jolted back into reality when we start to consider the implications and consequences of doing so - I mean, it's so hard!
In his new book "The Hard Thing About Hard Things", Ben Horowitz reflects upon his experiences of founding, running, selling, buying, managing and investing in businesses, offering practical advice on managing the toughest problems.
The author's venture capital firm invests in entrepreneurs building the next generation of leading technology companies, which has previously included Facebook, Pinterest and Twitter. Horowitz was also CEO of Opsware, Inc., which was acquired by Hewlett-Packard for $1.6 billion in 2007, so I think we can safely assume that he knows what he is talking about.
His advice is based upon anecdotes from his own hard-earned success in dealing with the burning issues with no easy answers, including:
o The challenges of demoting (or firing) a close friend;
o Is it ethical to hire (or rather headhunt) key people from your friend's company;
o How to manage your own well-being and sanity, whilst the whole company is relying upon you;
o What do you do when smart people become bad employees;
o When you should consider selling your company and how you should to do it.
My only issue about the book is that as a lifelong rap fan, Horowitz insists on demonstrating his business lessons with lyrics from his favorite songs. Personally, I found this a little distracting, as I was unsure if he was trying to write a best-selling business book, or get into the top ten of the music charts! However, it did help me remember key points regarding firing friends and poaching staff from competitors, but I wouldn't suggest that you sing to them whilst doing it, as you might get slapped!
Ultimately, "The Hard Thing About Hard Things" provides useful advice on dealing with the many common problems that confront Bahamian business leaders every day, relating to developing, managing, selling, buying and supervising companies. Just don't expect me to rap about it!
"The Hard Thing About Hard Things" by Ben Horowitz, published by Harper Business.
Keith Appleton JP, BA (Hons), N.Dip.M, MInstLM has extensive experience within an academic, managerial and strategic leadership role. He is a member of the U.K. Institute of Leadership & Management and can be contacted at KeithAppleton@hotmail.co.uk or follow him at twitter.com/WritingRightNow

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