July 15, 2014
From young CEOs who’ve used Kickstarter to post-graduates who have created non-profits to give back, I’ve covered a number of young entrepreneurs who are changing the world – or at least their respective industries.
In one of my posts, I wrote about “6 Things We Can Learn from Young Entrepreneurs,” but I also wanted to share some of the lessons we can learn from founders who’ve worked on Wall Street, had failed companies, and been coders since before it was “cool.” Here are the 4 things we can take away from the entrepreneurs who’ve been around the block (sometimes more than once):
1. If you’re going to go for it, give it your all
Josh Ernst, the CEO of urBin, says entrepreneurs should be confident in running a business, but should also be prepared: “Don’t be scared, there’s no time like the present,” says Ernst, a Texas native who previously worked on Wall Street. “But also if you are going to go for it, do your work, and do your research.”
2. Relationships are everything
Matt Hudson, the founder of Vote Rock It, says, “Relationships matter so much. Whether or not you’re going to be successful is based on who you need, who you talk to, and who you can help. If you have expertise in something, offer that expertise up.”
3. Consistency will keep you on top
Dustin Luke is a YouTube Star on the rise and has also run a number of companies. Before he reached almost 160,000 subscribers on YouTube, he taught himself how to edit, never gave up on his vision, and (most importantly) made sure his content was consistent: “Consistent content creation will help build your following. If you’re only making one video every half a year, then it needs to be an incredible video and if it’s not then all of your followers are just going to drop off and then it’s like starting over again,” says Luke.
4. Communication is arguably the most important thing
Crowsnest founders Mike Kruk, who has experience with venture capital, and Ian Wilson, who was the lead engineer for another startup, say that clear communication is what keeps the business and team growing: “I think one of the key things is learning how to effectively communicate,” says Wilson. “Especially when there are a lot of different opinions or conflict, and being able to do that in a way that doesn’t get anyone upset.”
While these entrepreneurs may have had to learn these lessons the hard way, most have offered up this advice to help people who are building their first company (or third) understand what you’ll need to reach a certain level of success. What do you think – did we miss anything from the list?
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