Many if not most entrepreneurs look forward to the day when they’re as successful as the big guns in business. What small or mid-sized business owner wouldn’t love to be the next Bill Gates, Warren Buffett or Lori Greiner?

As it turns out, many established executives are glad to provide helpful advice to those who are closer to the beginning of their journey than they are to the C-suite.

Kurt Schrader, CEO of tech firm Clubhouse, advises entrepreneurs to treat their employees well.

“The best management advice I have is to treat people the right way. Treat them the way that you want to be treated. About a third of my company has worked for me before and I work really hard to respect people.”

On the other hand, Donato Sferra, a Toronto banking executive, advises entrepreneurs to be open when people request meetings with them.

“I’d say taking every meeting is important because you just never know who’s going to bring you that next incredible idea,” mentions Sferra. “It could be the guy or the person who has shown you ten not so good ideas in the last 12 months, but you just never know who’s going to bring you that next great investment idea.”

Sophia Amoruso, who founded the multimillion dollar clothing company Nasty Gal and later became a New York Times bestselling author, is all about tenacity.

“Don’t give up, don’t take anything personally, and don’t take no for an answer; you never know what you’re going to learn along the way.”

Edith Harbaugh, CEO of LaunchDarkly and a product and engineering team leader for more than 20 years, suggests starting every day at zero.

She says she learned a valuable lesson about management from a 3,360-mile bicycle ride she once took. Each day she set her bicycle’s odometer to zero and made a plan to reach a daily goal. According to Harbaugh, the experience of making visible progress was motivating. It taught her how to monitor her energy, adapt to change and make decisions at forks in the road.

Co-founder and CEO of Amino Apps, Ben Anderson, believes in surrounding yourself with a variety of people who bring a wide variety of viewpoints.

“When starting and building a company, you’re constantly battling the unknown and grappling with problems that have no clear solution. You need diverse input from people who have a variety of backgrounds and perspectives who can help you look at issues through a new lens. This leads to higher-quality decisions and the creation of a more dynamic, energized organization.”

Mark Cuban, owner of the NBA’s Dallas Mavericks, Magnolia Pictures and AXS TV, recommends that entrepreneurs ask themselves if the business they’re in is something they love to do, and is something they’re good at.

“Then, taking that first step is always the hardest. It’s terrifying, but really, it’s about preparation.”

Published: 2019-06-27 08:04:43