It’s all about collaboration for Comaford

Christine Comaford exemplifies the “serial entrepreneur.”

She has a knack for being able to spot key trends and new technologies, and has built and sold five of her own businesses with an average 700 percent return on investment. She also has served as a board director or in-the-trenches adviser to 36 startups.

Her first book, “Rules for Renegades: How to Make More Money, Rock Your Career, and Revel in Your Individuality,” became a New York Times bestseller and for two days was the bestselling book on all of Amazon.com.

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In 2006, Comaford established the executive coaching firm Mighty Ventures LLC, where she and others consult with hundreds of startups, multinational corporations and the intrapreneurs within them to accelerate their business development and growth. You can learn more about what Christine is up to at www.Christine.com.

Q: What was the initial startup cost for Mighty Ventures?

A: $300,000.

Q: How long until you saw positive cash flow?

A: We broke even in 2008.

Q: Did you use a business plan?

A: No, but we did write a business summary.

Q: What were the biggest challenges? What do you know now that you wish you’d known sooner?

A: The area I struggled with for much of my career was in working with others. For a long time, I truly believed that I had to do it all on my own. It wasn’t until I turned 34 that I realized the difference the right team can make. I’ve had to learn to let go and allow others the space to contribute. You can have a much larger impact on the world if you can find others that click with you. What I’ve learned is that life exists in the people you meet and the things you build together. You might build a friendship, a family, a product, a company, or an experience, but it’s all about collaboration. I’ve discovered that it’s when you put yourself out there that you experience the greatest personal growth.

Q: Are there one or two qualities you can attribute your success to?

A: Tenacity. I owe my persistence to having to overcome adversity early in life. My dad wanted a son, he got a daughter. My dad told me at an early age things like, “You’re not pretty,” and “You’re not very smart.” At some point in my life, I realized I could make a choice: I could believe him and wallow in self-pity and be a victim, or I could choose not to buy into it and define my own life. I know that everyone makes statements and decisions based on their own conditioning, based on the stories from their past they unknowingly cling to.

Q: How do you define success and fulfillment?

A: Joy and peace. If I died tomorrow I’d say I rocked it. At some point I finally realized that I am enough, I do enough and I have enough. I’ve gained the perspective from my hospice work that we don’t have long and there’s no point in putting things off. We die a little each time we compromise ourselves and put off those things we know in our heart we must do. I believe that fulfillment exists in moments, but it’s not sustainable because it’s always moving forward. You feel fulfilled, then some time passes and you stretch and you grow and you have new experiences.

Q: How do you deal with adversity today?

A: Whenever I come across something that I get upset by I ask two questions. 1. How important is this in the grand scheme of things? 2. What’s the lesson in this? I believe there’s a great lesson in everything, and in knowing that part of me needs to grow because I brought this situation into my life. My dad said cancer was the best thing that ever happened to him, after my mom. He said Nancy was first but that cancer was second because it helped him see how valuable his life was. It enabled him to turn his life around in his last four months. So, I totally believe in crash-course life lessons. My dad got to have that peace and he got to really feel love before he died. He graduated. Who cares if you cram? If you pass the exam it doesn’t matter.

Q: Is there anything else you want to share?

A: As the founder, it’s hard but important to not get attached to your own company. I call it “founderitis” when people botch financing and acquisitions because they feel their company is more valuable than it is. Then, of course, no one else comes along later and the company goes under. Instead, think of your company as a living, breathing organism and it’s your responsibility simply to be the caretaker and the shepherd for a period of time. Entrepreneurs have a healthy dissatisfaction. I think if you’re totally happy with the way everything is going and you don’t really feel any need to make a big contribution or whatever, then keep doing what you’re doing. I think that a lot of people just have dissatisfaction and don’t do anything about it. Then there’s a healthy dissatisfaction that motivates you to move forward, to stretch and to grow.

Brian Schwartz is the founder of 50 Interviews Inc., and can be reached at www.50interviews.com.