After nine years of helping businesses like Upward Projects (Postino WineCafe), AlphaGraphics, and Goodwill Industries find their next level of success, Erath has compiled some key tips for the next generation of entrepreneurs.
I read every entrepreneurship book I could think of and thought I could do it all myself. But I was wrong. An entrepreneur needs four key ingredients on their journey: a strong, cohesive team, a principled framework for running and scaling a business, a peer group, and an experienced guide to mentor and coach.
Our family-owned business, Erath Veneer, operated entirely domestically, but in the late 90s, most of our customers began relocating their factories to the United States. AsiaWe were forced to shift our focus to exports and eventually had offices on six continents.
Entrepreneurs can be naive when it comes to their teams, but in my case, this led me to ignore not one but several red flags from people. I hired key team members who I knew would help grow the business, but they ended up not being a good moral and cultural fit for the company, and we suffered greatly as a result.
Imagine driving somewhere you’ve never been before without a map (or GPS). Entrepreneurs do this every day in their businesses. They often have an end goal but no roadmap to get there, or to share that roadmap with the people who can help them get there. Without a roadmap, it’s much more difficult, if not impossible, to arrive safely at your destination.
When I started my second business, focusing on my core values ​​first when hiring, firing, and compensating employees was the number one key to my success. Hiring the right people who aligned with my core values ​​helped me have a cohesive team who were able to take on higher level leadership initiatives focused on growing the business.
To learn more tips about Erath’s own path to success, detailed in RISE: The Reincarnation of an Entrepreneur, buy it on Amazon or wherever books are sold.
For more information about Next Level Growth, visit www.nextlevelgrowth.com or call 480.261.0598.
*Source: Demandsage.com
**Source: Meehan Law LLC
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