Thread by @ronaldnzimora

#MentorSeries continues today.

21 Lessons My Mentor Taught Me

Lesson 11: 50% of something is better than 100% of Nothing.

Should we do this today?

Yes we should!

So on this day, I went to my mentor for some advice.

I was running my Digital Marketing Company, Profit Marketing Systems Ltd, and while it was doing okay, I knew it could do more.

But then I recognized I was too scatterbrained to bring structure to the business. I needed help.

I had just met my business partner, Toyin and we were discussing joining together and building something really great together.

That meant a new digital marketing consultancy, different from what we both already had.

But I was still skeptical about taking on a partner. So I...

went to Dr. Ojeagbase for advice.

After I had told him my "dilemma", he smiled and said to. Me/

Dr. Ojeagbase: Let me tell you a story, Ron.

You see in 1985, my newspaper, Sports Souvenir was 2 years old. It was a struggle getting on the newsstands because we had to sell...

and go around collecting our money from vendors. Each time, we'd barely collect enough to publish the next edition.

I had oured everything I had into the business and it needed more.

So I went to a friend of mine (name withheld) and asked him to invest in my company for a...

share of the company. When he asked me how much of the company I was offering him for the money I was asking for, I said. "5%" thinking I had made a sweet offer.

Well, he refused and asked for 50% of the company, saying he knew I'd still need more money down the line and he'd...

make it available if that became the case.

50%! I was horrified. No way I was going to give someone half of a company I had laboured to build!!

So I turned him down, and continued grinding.

I went to someone else who gave me less than what I asked him for 5%.

Guess what, Ron?

By the time, I was was eager to hear all of it, I was practically falling off my seat.

Dr. Ojeagbase: Just like he predicted, I needed more money.

So I went to someone else and sold another 5% slice of the company for more money. Soon the business needed even more money, so...

I went to yet another person and sold another 5% share.

To cut the long story short Ron, I ended up selling over 50% of the company and nearly 10 people on the board of the company. And I love them all to death, Ron but I'd much have preferred to have one person as a partner."

I was stunned. This man had a way of making the most complicated things very simple to grasp.

Dr. Ojeagbase: Ron, sometimes what you need is something to team up with especially when you're getting started so you can get off the ground. Nothing stops you from then starting...

something else on your own later on.

Ronald: I hear you Sir. I'll do as you advice.

I partnered up with Toyin and what a business we've built together. We recently also started a new company together. And looking back, we couldn't have done it without each other's input.

So...

There you have it. Partner up if you need to. Trying to keep 100% of your company and end up having it go to shit is stupid if you can partner and give away part of it.

Stop thinking you can do it all alone always. Sometimes you can, sometimes you can't.

Now go and prosper 👍🏾.