The biggest problem with engineer entrepreneurs is that we think we know everything. Engineers typically make miserable diplomats and politicians. But otherwise, we can do pretty much anything! So when an engineer starts a business, there are very few limitations. Bookkeeping requirements? I’m an expert in QuickBooks! NDA’s, patent applications and consulting agreements? Legalese is my second language! Commercial real estate? What would you like to know? I now know more than I ever wanted to about benefits and business insurance. Somehow, I understand banking, investments, financing, M&A, VC, private equity, royalty lingo… Reality, though, is that these skills are not what make RPM Tech successful. RPM Tech’s success is problem solving, innovation, prototyping. It’s understanding manufacturing. So what to do about those other competencies? Over the years I’ve learned to let go and leave those tasks to the experts. I really truly made the shift almost five years ago when Patrick Furness joined as Director of Finance and Operations. The difference was obvious from the minute he walked in. Next, exactly a year ago, RPM Tech was fortunate to attract medical device and instrument development expert Ed Belsinger as Director of Product Development – and what a difference his presence has made! RPM Tech benefits from a talented group of executives and team members (out bowling below) who remind me on a daily basis that while I can do it on my own, RPM Tech does it so much better together.
To my engineer entrepreneur counterparts: it’s ok to do everything yourself at first, but as soon as you can, attract talented experts and let go. That’s the only way you will progress and succeed.
#strongertogether #engineerentrepreneur #rpmtech #marylandinnovation