Yiannis Giokas is a serial entrepreneur with domain expertise in cyber security, data analytics and telecoms. He is currently the Vice President of Research and Development at PCCW Global. He is also an active member of the startup community where he acts as an angel investor, mentor and advisor in analytics, big data, cyber security and fintech. Follow him @ygiokas. 

Who is your hero? (In business, life, or both.)

Elon Musk. While he came here from South Africa without any resources, he managed to become the visionary and successful entrepreneur we all know very well today by his own efforts. His strong belief in his ideas and his drive and commitment to make them reality when no one else had faith in him are the key reasons why I admire him.

What’s the single best piece of business advice (unorthodox tips welcome!) that helped shape who you are as an entrepreneur today, and why?

When I was in high school visiting my father’s office, one of my first mentors used to tell me, “try not to die out of surprise.” It took me years to understand the meaning behind this quote, but I finally got it when I started my first company. When you’re focusing on a project or idea, it’s not the only thing going on. You must always be aware of the context and the environment you are working in so you’re not caught off guard by shifts in the market dynamics, the environment, etc. I still believe in the importance and value of this advice, as it constantly reminds me that I’m not the only one in the room, the market, etc. I have to not only be aware of my surrounding environment but adapt to its changes.

What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?

A typical mistake that first-time entrepreneurs make is starting companies with friends. I did that more than once (I’m a repeat offender) but I’ve learned my lesson. I wanted to work with people I trusted and had a close, personal relationship with. Over the time, however, it proved to be very hard to separate personal affairs from business — especially if all of you are co-founders. You end up downplaying underperformance, suppressing your feelings and having an unhealthy business relationship. It’s a lose-lose situation. It took me many years to “grow up,” be more confident, and be open to the risk of doing business with people I am not closely attached to.

What do you do during the first hour of your business day and why?

My morning routine includes checking the emails I received overnight and going for a 30-minute run to physically prepare myself for the day. Then, I have a cup of strong coffee and make an agenda for the day prior to starting my conference calls, answering messages, etc.

What’s your best financial/cash-flow related tip for entrepreneurs just getting started?

We all believe that we have a unicorn business in our hands. However, prior to committing all your financial resources to this idea, try to do four things: separate the financial resources for this venture from the ones that will keep you personally afloat, use sales tactics like sync dev to get product validation, early customers, and a revenue’s pipeline, get professional accounting and legal support — even at an upfront cost, and ask for other people’s money when the price is right and you are ready to fly.

Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?

Take a break and grab a cup of coffee with one of your closest friends. It’s far cheaper than therapy and more productive. Entrepreneurs have the tendency to become so attached to our endeavor that we neglect our life around it. As a result, we limit our minds and can’t think out of the box. That’s why we should occasionally have fun with someone we trust in order to tap into our creativity and reconnect with the real word.

What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?

Success is a very subjective matter, but I translate it as reaching the point where you have met your material and monetary goals, such as long-term financial independence with a high-living standard while having emotional clarity and personal fulfillment. In an ideal world, this could be also mean building a venture so successful that it runs perfectly while you are enjoying life and traveling.