Tim Lett, Angel Investor, Entrepreneur and Board Director

Founding Axsium

Tim Lett's entrepreneurial journey began with the founding of Axsium Group, a consulting firm that emerged from his experiences at Workbrain. He recognized a gap in the market for a boutique consulting firm specializing in Workbrain implementations, which led him to start Axsium in 2004 1. Tim's decision to leave Workbrain was driven by the chaotic yet opportunity-rich environment he observed, which he believed was perfect for launching a new business 2.

I always had this itch to start a business. And I remember looking at the landscape around Workbrain and thinking, this is a perfect landscape to start a business.

--- Tim Lett

His initial client, Bank of America, provided the foundation needed to grow Axsium into a successful venture 3.

   

Acquisition Challenges

The acquisition of Axsium by Knightsbridge Human Capital was a pivotal moment in Tim's career, marked by significant challenges and learnings. Tim navigated the complex acquisition process largely on his own, learning the importance of choosing the right investment partners 4. He reflects on the decision to sell, acknowledging that while it was the right move at the time, he might have held onto the business longer if he had the chance to do it over 3.

I did learn I don't regret selling the business to Knightsbridge, but I probably sold it too soon.

--- Tim Lett

Despite the challenges, Axsium continues to thrive as a standalone company, a testament to the strong foundation Tim built 4.

   

Lessons Learned

Throughout his entrepreneurial journey, Tim Lett gained valuable insights into managing stress and maintaining perspective. He emphasizes the importance of fitness and a strong personal network in coping with the pressures of running a business 5. Tim's experience taught him that the most stressful issues are often not the most important, and having trusted colleagues to provide perspective is crucial 5.

Everything in life's about perspective, man. It's, you know, everything about, like running a technology business is because it's chaos from the beginning to end.

--- Tim Lett

These lessons have been instrumental in his success, helping him navigate the chaotic nature of entrepreneurship 3.