KickStart
John Foster of the Idaho Business Review and Gary Mahn of Fisher’s Document Systems shared various experiences they’ve had while being in a wide variety of businesses… more stories than tips (though they shared some at the end), but interesting.
Gary Mahn’s key points:
- You have to have a thick skin and a deep belief in yourself and your idea. You have to be driven. In his case, he was driven by fear, and that seemed to work for him. When you pick your deal, put your heart and sould into it.
- Network! You never know where the next friend or business opportunity is going to be.
- Get out there. Don’t just limit your ideas and input to your city. Join some sort of association to get in contact with people all over in the same business.
- Test the market.
- Treat people the way you want to be treated. Don’t ever take advantage of people, no matter who they are.
- Don’t be greedy, especially when it involves a customer.
- Have balance in your life. Work hard, play hard, and exercise. Your balance with your family is most important.
John Foster’s tips:
- Listen to your customers before you do anything; they’ll guide you.
- Fill a niche.
- Have a vision.
- Set very high standards for the people you work with, and foster pride when they accomplish big things.
- Be bold!
- Work hard.
- Do a good job of getting the word out.
- Minimize crap.
Q & A
What kind of people (generally) should an entrepreneur have on their advisory board?
The main things you get out of your board is outside input. A financial person; a person with connections in the marketplace. People who have a financial interest in your company will give you good input.
How do you find people who’ll tell you that “your baby’s ugly”?
It’s easy to be in the silo and ignore the ornery people. Listen and listen and listen, and then ask them, “What do you think we should do?” to turn critics into contributors. In the information age, “knowledge is free.” People expect it to be free, not just digital information, but idea swapping and building on other people’s knowledge.
Ask your customers (they’ll tell you!). Interact with them and get excited about hearing from customers (instead of avoiding them!). It’s easier than ever to find out what your customers are thinking.
