“It’s rare to bat one out of the park first time”

April 6, 2011Post by Laura Humphreys

I’m quoting an interview I did with Rod Drury when I write this headline… he was referring to the most famous and fabulous stories of mind blowing business success we know so well.  Sam Morgan – from student looking for heater to warm his drafty Wellington flat to $700 million sale of Trademe.  Mark Zuckerberg – from (apparently stolen) great idea and geeky computer skills at Harvard to the world’s youngest billionaire as Facebook currently values at US$41 billion.  Geoff Ross – advertising executive extraordinare, from experimenting with vodka formulas in his cold Oriental Parade garage to sale of 42 Below to Bacardi for $130 million.

These are the big stories. And boy do they inspire us… as well as make us feel small and somewhat insignificant by comparison.  Which is why I loved Rod’s perspective so much.  These stories are the rare ones.  Most successful entrepreneurs build their success and grow from one business success (or failure) to another.  As Rod says, don’t be greedy with your first business.  If someone offers to buy it, get a good price and sell.  Build your wealth, build your reputation, build your confidence.

Your second business is so much easier when you enter it with confidence, experience and some cold hard cash to invest in it.  Rod should know.  Now co-founder and CEO of Xero, he already has two successful exits under his belt.  He’s on his way to batting his third business way out of the park and becoming one of the legends to humble us all.

Wise words eh?