One of the greatest obstacles I face right now is balancing the resources of two different companies. This includes both time and money.
I’ve established a great advantage that most entrepreneurs don’t have by designing their business models in such a way as the majority of my job as CEO can be performed at home.
However, there’s always the question of how much I should invest in one company to accomplish one goal, while balancing the performance of accomplishing another for the other.
My true passion is in physics; this means that WI is my baby and entrepreneurial endgame. I established OMI Firm as a solution to a financial pinch I was in when I was living in China. I had to figure out how to do the following in one fell swoop:
- boost my income enough to eventually return to a first-world country,
- have the traveling freedom to stay with my wife (who is not an American citizen, but a Latvian one), while adhering to the laws of the EU for my visa, while
- being available to my child(ren),
- raising funds to pay for my physics education
My answer was to develop an online consulting company, helping businesses to market their products and services with my strategic expertise.
The odds were greatly against me, and it took a while to make first-world-middle to upper-middle-class income, but I made it through despite my many character flaws and psychological hurdles. A consulting business is basically powered by the owner’s mind: His inventory is his knowledge; his distribution is his ability to speak his knowledge to clients who are looking to know what he knows.
So, if my own mind is my factory, so to speak, then, yes, I could travel around the world as an e-citizen not financially attached to any one respective country.
So, OMI was always meant to be a means to an end: a strategic life-Chess move to accomplish the long-term vision of my defense engineering firm.
Everything was going well (in that context) until I got invited to Rome to speak about quantum physics. I suppose I was found by my LinkedIn criteria, as well as some of the ideas that I was posting online, on social media.
There was no way I could turn them down; so, I had to go into hyper mode: Wolven Industries had to get to an MVP (minimum viable product) stage and fast, only within a few months.
Else, I wouldn’t have anything to speak about, for I was just a student.
So, I was never so ambitious as to want to have the burden of multiple growing companies at one time. One is hard enough. At the same time, I remember great words by the legendary entrepreneur, Richard Branson:
So, following his advice, I’ve ended up with two companies, but only one nest egg of capital that I’ve worked hard over the past five years to build, without yet being ready to sell OMI.
- Traveling to events to promote either business costs time and money.
- Social media advertising costs money and talent.
- Developing marketing materials (e.g. blog articles) to market either business takes time.
- Servicing clients for marketing strategy costs time and talent.
- Maintaining a skilled and loyal staff costs money.
So, right now, I have the problem of building two companies from the ground up, while studying physics (because I have deadlines in college to meet), while being a family man.
Needless to say…it’s not easy.
Mike Norton is an American award-winning Internet marketing strategist with a BA in Internet marketing from Full Sail University.
He’s also a writer, entrepreneur, and a quantum physicist studying part-time at the University of York. He is the bestselling independent author of Fighting for Redemption, and a veteran of the United States military who is a 7-time winner of the USS Dwight Eisenhower award for essays of world peace and respect.
As a mostly self-educated vagabond, he gains inspiration from a myriad of experiences wrought from the adventures of his nomadic lifestyle. He prolifically writes and journals where ever he goes in the world, from one country to the next.