Being an action oriented person I’m not afraid of starting things.
Pros: get stuff done, make tangible progress and don’t overanalyze before taking action.
Cons: don’t always do the market research, making money isn’t the priority and I get bored quickly.
What I learned as an employee at my former company is: the size of the market/demand makes all the difference.
At the same time I realized you can be unethical, yet still make a profit.
The reason I left the last company I worked for is because of how they treated people (me included).
Starting a test prep company wasn’t something I was passionate about doing, but understanding the market size (online education is a $100 Billion industry) and realizing how I would run a company culturally I pulled the trigger a few months ago.
Here are the core values that guide us:
Relationships First – by valuing our relationships with employees and customers first, we will create long, genuine relationships that are about more than making a profit. I am partners with my tutors. They don’t work for me. I work for them. Without them I have no business.
Be Unique – acknowledge and express the unique contributions your strengths and style can make. “It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.” I leverage the strengths of the people around me.
Be Efficient – we will constantly evaluate our work processes and priorities to work smarter. We make a better system together. Constantly communication means you value other’s opinions.
Create Freedom – our decision making will help our employees and customers get it done, their way. Giving people autonomy means you trust them. Without trust you have nothing.
Constant Growth – we will encourage our employees and customers to constantly challenge themselves to continue setting goals and pursue learning opportunities. Focus on leadership development. Period.
The reason I share these core values is because I believe they can be transferred to any type of business. Having a serial entrepreneur mindset it’s only a matter of time before I find a new idea to implement, but what I’m experiencing in my current venture is: keep your eyes on the long-term success of the company and make decisions accordingly.
For example, a big part of my business is forming school partnerships because they are the gatekeepers to parents of high school students. The process of prospecting includes: cold emails, follow up communication, phone calls, sending proposals, finalizing agreements, contacting parents, supporting tutors, repeat.
Whenever I get impatient and want results yesterday, I remind myself relationships are at the heart of what I do and they take time to build. I can’t predict the future, but I can say with confidence I trust the process.
In ways, this endeavor is an experiment of sorts. Implement the “why” and “how” you run a business and once you identify the “what” you plug them in.