Who is your hero? (In business, life, or both.)
Theresa Fraser AKA Mother Bear. She recently went through breast cancer and after two years is in remission. It’s been an incredible journey for our family, and we are forever grateful for how blessed we are.
What’s the single best piece of business advice (unorthodox tips welcome!) that helped shape who you are as an entrepreneur today, and why?
Hard work trumps talent, and you must love what you do. In the digital world, obtaining knowledge is literally at our fingertips 24/7. I’ve only been in the technology industry for six years, and I’ve discerned that those who dedicate hours to education, hustle, research and practice consistently come out on top. Everyone wants to be self-employed and make a good living, although a small percentage are willing to put in the work. You must love what you do because it can be exhausting and you must be persistent.
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
Shiny object syndrome. In the beginning, there were countless opportunities available and exploring so many options stunted our growth. I encourage having a clear path to a final destination for any team. Distractions are the enemy and eliminating them will benefit everyone in the long run. For example, our real estate advertising tools were performing extremely well and an opportunity in the auto industry arose that sidetracked us. Then around Christmas, the exploding Hoverboards were all the rage (we managed to sell a few hundred before they lit on fire) and again, distracted us from the final goal. A year later, we are focused on real estate and will never steer away again.
What do you do during the first hour of your business day and why?
Once in the office, I have a cup of tea and head to a stand-up desk to start my to-do list. My to-do list has a quote at the top, 5-10 action items (ordered by importance), and meetings/appointments to the right-hand side. Limiting checking my email to three times a day has changed my life. Fifteen- to 30-minute sprints at the beginning, middle, and end of the day. Don’t be addicted to email.
What’s your best financial/cash-flow related tip for entrepreneurs just getting started?
Stay lean and mean and build an MVP before financing.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
Dedicate at least one hour of your day to gaining knowledge or education.
What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?
If you do what you love every day, I would say you are successful. As for the business, disrupting an industry and making change for the better.