Question: What is one thing that is absolutely essential for running your business? (Creative responses welcome -- e.g. morning yoga, an invaluable CRM, a phone app, etc.)
Taking Input From Employees
"Even though I am 100 percent owner of my company, I don't make any significant decisions without consulting multiple people within my company. They see the business from a completely different perspective, which I simply can't get. Their input is, by far, the most valuable asset I have in my company."
Scheduling Your Personal Life
"Personal appointments have to be considered just as important (or even more important) than the work meetings you have on your book. When I block off a dinner with friends, a movie date with my boyfriend, a dentist appointment, attending a wedding or anything else in my calendar, those times are completely unavailable for meetings."
"We use Trello to track and prioritize all projects. It provides an overview of what everyone on each team is working on and which tasks are pending. Trello has a smartphone app, so we can always stay up to date. An integration with Gmail enables us to send tasks from email straight to Trello."
Having a Watch
"It sounds basic, but owning a watch and referencing it is key. The life of an entrepreneur is busy and being able to adhere to a strict schedule is important. I have seen more business meetings go sour before they even start because someone was 20 minutes late or "forgot" a conference call. Respecting others' time and managing yours is essential in running a successful business."
"People may scoff at the exploration of happiness as a leisurely pursuit, but it's the purpose of our lives as humans. The pursuit of happiness transcends recreation. In fact, it's how I became a better entrepreneur. Maintaining your composure when you're uncomfortable -- with a genuine smile on your face -- is the sign of a great leader."
Maintaining a Stable Culture
"I believe a company's culture starts with the employees who make up the workforce. Before hiring anyone, I ensure that the individual will be a a great addition to the already existing employees. These are the people that you spend most of your time with, so it is important to want to be around them. I want my employees to see their co-workers as friends. "
Reading Up-to-Date Industry News
"I rely on news and updates on worldwide health-related issues that need to be solved. To me, running a business means you have a responsibility to benefit the community. Therefore, by knowing what the community needs, you can generate ideas about how to start new projects or initiatives that address the issues and provide company awareness."
Having a Good Leadership Team
"It’s the people around me who I have chosen to help guide the direction and future of PK4 Media. Without our management team, I would not be able to scale the business with the same confidence I have now. The right team makes all the difference."
"We have metrics for everything at my company. These metrics include labor cost, material cost, lead time, sales, etc. Everything is measured and shown in real time throughout the company. Every person responsible for the metrics are publicly stack ranked at the company. We apply monthly and quarterly bonuses to every position."
Spending Time Outside of the Office
"Conventional wisdom applauds insane work ethics. There are fabled stories of all-nighters, sleeping under desks and 100-hour work weeks. But it's often the time spent outside the office that provides the biggest breakthroughs. Whether that's triggered by reading, meeting with another entrepreneur or going for a walk, being able to zoom out and think deeply is essential for running a business."