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For entrepreneurs, there is no guaranteed formula or all-encompassing roadmap that leads to success. While it might be hard to believe, the most valuable business and leadership lessons cannot be found in a hallowed lecture hall or in the depths of a textbook. The real lessons in business are discovered through life experiences and trial and error.
While there are no foolproof methods for success, the following three lessons are the most significant I’ve learned as an entrepreneur and CEO.
Be Bold and Challenge Industry Norms
Don’t be afraid to go against the status quo. Industry veterans might disagree with your approach, but their disapproval should only fuel the fire and ignite your entrepreneurial spirit. The marketplace is changing at an accelerated rate and companies need to evolve in a similar manner to remain competitive. Outdated, traditional products and services are a dime a dozen. What consumers crave is originality, transparency and innovation. Differentiate yourself from the competition by deploying progressive and innovative strategies. No one remembers those that follow industry standards, they remember those bold enough to disrupt them.
Empower and Invest in Millennials
Millennials are often stigmatized as being lazy, entitled and self-absorbed. Some organizations are apprehensive to employ millennials due to these misconceptions. What baby boomers don’t understand, however, is the enormous amount of untapped talent these twenty-something’s can offer. Millennials are armed with a fresh perspective and an innovative approach to problem-solving. Having grown up in a technological era, this forward-thinking generation is accustomed to social media platforms and are more tech-savvy than their predecessors. These strengths can, and should, be harnessed and leveraged in the workplace, but are often overlooked. Empowering this generation with the right tools and proper guidance can amplify ROI, foster a positive company culture and increase tenure.
Pay it Forward
After finding success as an entrepreneur or CEO, it is your moral obligation to pay it forward to others. There are many ways to do so; get involved with industry conferences, join organizations in your industry, donate to charities or simply provide business guidance when asked. Doing so cultivates relationships with other leaders while building credibility and trust. This is a great opportunity to grow both professionally and personally. By conducting business unselfishly, you can build a positive business and social ecosystem while also establishing brand recognition.
There is no science to finding success in today’s marketplace. As a CEO or entrepreneur, it is our responsibility to test boundaries, discover untapped talent and pay it forward. And while it is important to contest norms, it is also vital to seek guidance when needed. Look to trusted experts for advice, or establish a board of advisors to consult.
Whatever your venture may be, if you have the persistence, passion and dedication, becoming a successful entrepreneur is within reach.
Robert Nathan (@logisticsnerd) is Co-founder and CEO of Load Delivered Logistics LLC, a forward-leaning, technology-enabled 3PL provider based in Chicago. He is a board member of the Supply Chain Innovation Network of Chicago (SINC) and one of Crain’s Chicago Business’s 40 Under 40. A regular on the industry speaking circuit, Nathan shares his passion for logistics and technology at conferences and events around the country.
