“I Can’t Explain Strategy at the Same Time that I’m Inventing It”

(p. 75) I felt deceived. I felt betrayed. Their 51 percent control could be like working for IBM or Honeywell again. I felt a threat to the most important value I was seeking: independence. I had to ask myself “Do I say no? Or do I say yes and accept their contract, even though it isn’t what we shook hands on and it makes me uncomfortable?” “This was a major difficulty for me. The 51 percent issue is at the very core of what every entrepreneur is trying to do: control his own destiny.
We were talking about my company. I dreamed it up. I put it together and I was going to run it. I was not going to hand it over to some committee of lawyers and accountants. But neither could I let anger get hold of me.
I knew that “those whom the gods would destroy, they first make angry.” That said, not getting angry does not mean not being firm. So I firmly told Jerry, “I want to run this company. I don’t have time to sit around and explain to your staff what I’m doing. No offense, but they don’t know beans about what I’m (p. 76) trying to do, and neither do you, for that matter. I’ve got to be able to run this business. I can’t explain strategy at the same time that I’m inventing it.”

Wyly, Sam. 1,000 Dollars and an Idea: Entrepreneur to Billionaire. New York: Newmarket Press, 2008.

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