Scoble's reasons NOT to start a business

I spend most of my time talking to entrepreneurs who have started companies. Reading Robert Scoble's story about why he decided to not start a company, and instead go to work for Fast Company, presents the other side of the story...the more common path.

Robert Scoble is a special person too, and a rare talent. He is also my friend. Robert worked at Microsoft for several years and I got to know him there. In fact, Robert really got my blog started by linking to me several times in the early days. I will always be a Robert Scoble fan. Pictured above is me, Robert Scoble, and Alfred Thompson at a John Edwards campaign appearance in Portsmouth NH.

Robert Scoble's Reasons For Not Starting A Company

• Understanding what you are good at..and what you love to do - Robert loves to blog, interview people, and spend time with his family. Doing all the other things required to start a business takes time away from the things he really loves to do...and what he is really good at. This is probably the number one reason that most people don't start a business.
• Building a diverse set of income requires a sales crew and attention to client happiness. - Leading a sales team and hiring the right sales people takes a lot of time and skill. Robert was honest with himself and concluded he didn't have the time or interest in doing this.
• Setting up a business requires a ton of other tasks. - Setting up a sales organization, accounting, HR, hiring and firing people. All these things take special skills, and take time away from what you are really good at.
• Doing a business is stressful on everyone involved. - Om Malik, a blogger turned entrepreneur, recently suffered a heart attack. Mike Arrington, another famous blogger / entrepreneur, works 24X7 and is perpetually tired. These guys are the best of the best. I admire them greatly and count them as friends. But Robert  decided the stress wasn't worth it to him.
• Brand extension is hard when running your ass off to build your own business. - Robert knows that he would need to build a business beyond just one blog or media site. He concluded it was much easier to do that as part of Fast Company.
• Getting access to things, when running your own business, is tougher. - Robert Scoble is basically a reporter who needs access to top CEOs and entrepreneurs, trade shows, and industry parties. Robert already has access to nearly anyone or anything but even Robert can't get access to everything. For example, he didn't get invited to Steve Jobs keynote at MacWorld, but he would have been invited as a member of the press at Fast Company.

I completely understand Robert's reasons for joining Fast Company and not trying to start a blog/media business on his own. He was honest with himself about what he is good at, what he wants to do, and what it really takes to make a business successful. The money quote for me was this "Life is too short and if that means I leave a few million on the table because I gave up equity in my own thing, so be it."

Good luck to you Robert!

Comments

[Robert Scoble]

Thanks Don, I really appreciate it and really enjoy your blog, which always has great insights.

Hope to see you soon!

[Jim Kukral]

I agree with you on Scoble. Don't know the guy, but it sounds like he's got his priorities straight. Who wants to own a company? All that stress and work?

Sure, there are rewards, but I'd like to not have a heart attack and I'd like to see my kids grow up. Congrats to Robert on his state of mind.

Not many people know what they want.

[Philip wilkinson]

but why not work hard for five years, make a packet from equity, then have all the freedom in the world ... ?

[John Moulton]

of course, all of this is easy to say when you already have several million on the table.....

[dave davison]

Your assessment of the rationale behind Robert's move to Fast Company should be required reading for anyone remotely considering starting a company. Great advice.

I have come to know Robert over the past year, having the good fortune to share some quality lunches and starbuck's coffees outside of the realm that Robert usually travels in .

I believe his new career move makes great sense and I hope to find ways to work with him as he expands his Fast Company video channels.

From reading your blog occasiionally I am very impressed at how your personality shines through your posts. Robert is a lucky guy to count you amongst his friends.