Now what do I do?

Since I am active in the angel investing circuit in the bay area I often encounter the financially, professionally, publicly, etc. uber-successful business leader now acquiescing to the energy of what everyone else like them is doing.

For years these individuals have had companies, sort of by default, with people assuming it was ok, because these people knew what they were doing they had to.  Often they have been surrounded by a combination of myopic and politically motivated yes people, Blue chip talent and many folks lining up to follow.

Now they have got this huge expanse of time.  I see they will often:

• Invest and sit on boards
• Philanthropize themselves
• Spend time with the grandchildren
• Become confused because they have valuable lessons they could teach but either they're not asked or when they do it becomes a scene from a classroom in Peanuts while the teacher mumbles uninteligibly but with great gravitas

among other things.

I have found that I am very effective listening to them.   I am fearless about being very direct with them.  (Which more often than not they appreciate it.  Every once in a while I get the head pat "Son, you've got alot to learn" with one hand while tipping a Brandy Old Fashioned with another.)

The single most effective question I've used is to ask them:  What do you want?  It's nice because money is rarely in the conversation (in fact if it is a big part of it I usually back off for a variety of reasons)

What I'm most inspired by are the individuals who will look at me earnestly and say "I don't know".  They probably haven't been able to say that in 20 or 30 years.  But better to admit it than to fake it.  (Let's face it I became an accountant and it was my worst subject.)

Anyhoo, providing them the space to feel comfortable looking into that is important.  Then....I figure out whether they are interested in staying there.  A few execution oriented ideas or questions help.

What I encourage every one of them to use is a healthy injection of honesty.  We all have this moment.  What is going to make me happy? 

If I love philanthropy (by the way one of my all time worst typing words, all time worst that city in NM...) cool do it.  But don't do it because you think it's the "right" thing to do.

Do it because it's what makes your soul smile.  I've actually ended up working as a coach on a number of occassions for them.  And I love it. 

So...in sort of the words a Fletch...hug a recently retired uber successful executive today.  Yeah, I said it...it feels good!  (Note stay away from the Adelphia/Enron hugging sessions, or at a minimum hold onto your wallet and life savings.

Comments

[Sophie]

I think this is great post! My company, FundingUniverse.com, works closely with angel investors, and those that love being philanthropists, like Paul Allen or Bill Payne (check him out at fundinguniverse.com/podcasts) are not only inspiring to others, but happy with themselves and their situations. Also, we've found that honesty is always the best policy. Thanks!

[izontheprize]

Thanks. Honesty is where it is at...