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It’s with profound sadness we mourn the loss of a true visionary, author, mentor, thought-leader, investor, and friend, Tony Hsieh. Under Hsieh’s leadership, Zappos revolutionized the apparel industry, and e-commerce in general, by being one of the first to prioritize customer satisfaction and service. By Frank Gruber and Jen Consalvo.
Yet as I mentor entrepreneurs around the country, it still seems to be one of the least understood approaches to startup funding, with more myths than accredited angels and professional venture capital investors combined. The crowd gets the satisfaction of helping, with minimal risk, and no expectation of any high return.
Creating an innovative new business is guaranteed to test your skills, patience and determination, and you need to derive satisfaction from the journey, as well as the destination. Don’t hesitate to call in an experienced advisor or mentor to help. Marty Zwilling First published on Entrepreneur.com on 10/23/2015.
Apply the same high bar to product quality, employee satisfaction, social responsibilities and customer service. It’s important to learn from peers, advisors and mentors that the required mindset must be combined with specific actions, including the ones outlined above, before value can be harvested. Set the bar high on standards.
Bring in expert advisors and mentors to set initial goals, and build recovery plans. Experienced entrepreneurs have learned that unpleasant surprises are the way of life in a startup, and a big part of the satisfaction is beating the challenges. Marty Zwilling First published on Entrepreneur.com on 9/23/2015.
As an advisor and mentor to startups, I try to make sure entrepreneurs understand both the pros and cons of an IPO as an exit strategy. Marty Zwilling First published on Entrepreneur.com on 6/24/2015. Many of these may still fail spectacularly, such as Webvan and Pets.com. Public expectation of growth every quarter.
Most successful entrepreneurs, including Bill Gates and Mark Zuckerberg, maintain mentor relationships with key advisors that they highly respect. By prioritizing customer need and value first, you will more likely achieve the satisfaction of seeing your paradigm shift become reality.
Many women rose to the top of their careers only to discover how unsatisfying, soul-draining and unhealthy a lifestyle it was and completely changed careers to find satisfaction doing something completely different where they once again became successful, but in a more balanced manner.
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