fm Biz News Daily.com 9/15 enhanced by Peter/CXO Wiz4.biz
Millennials have become known for their desire for instant gratification. This is especially true in their careers: Instead of waiting around for that big promotion, young professionals are increasingly choosing to create their own executive positions by becoming entrepreneurs. While they may have the requisite passion & drive, Gen Y’s age and lack of experience may mean they require a little more guidance in the leadership area. Ten business leaders – many of whom founded companies or rose to leadership positions at a young age – offered their words of wisdom for today’s generation of entrepreneurs.
1. Acknowledge your own short-comings. “Know what your weakness is and hire people fill this gap. The best trait in any leader is to be able to admit their weakest points and build a team to compete the skills needed to have a complete team – capable of handling most any situation.” – Ashley Morris, CEO of Capriotti’s Sandwich Shop franchise
2. Allow your idea to evolve & change. “Your idea is a great one, but on the road to fulfillment, understand that it may look very different than the original idea. In fact, it may not resemble your first concept, nor the second version, and more but after lots of listening to customers & employees + applying the best ideas, your success will come.” – Shawn Mendel, founder of Funley’s Delicious healthy snack line
3. Work hard to get Ahead. “I have learned that success may come as a result of two things. One is luck & the other is hard work. I chose the latter. Hard work & self-discipline are a common denominator between most business leaders & other. This proves that when you think you are working too hard, you are probably right, but it is also the reason you are on the road to success.” – Amit Kleinberger, CEO of Menchie’s frozen yogurt franchise
4. Strive for Success, but remain Humble. “First and foremost, any young founder must have an insatiable hunger for success & winning, Be resolutely prepared to work your a** off, as your competition most certainly will. Most importantly, stay humble & listen to your customers & employees. Your team absolutely needs to understand that you’re predictably calm and composed for them to flourish.” – Jon Sebastiani, founder and CEO of Krave Jerky[
5. Ask for Help when you need it. “When you’re young, you have boundless energy and want to do everything yourself, but don’t let your early success turn into an early “burn out”. Sometimes you will have to hire people older than you with more experience and take their advice, because there are times that you may not know best. But there are times you will – like the latest trends in technology. Know how to tell the difference, and know when it’s time to ask for help.” – Jeff Platt, founder and CEO of Sky Zone indoor trampoline park
6. Always challenge & encourage yourself. “Young leaders must aspire to continually challenge themselves and focus efforts on improving their strengths as much as their weaknesses. You can be supported by the greatest team & staff, but sometimes as a leader, it can be lonely. Those are the times you should find the drive and encouragement within yourself to accomplish your goals.” – David Norsoph, owner and founder of Norsoph, Alcalay & Orner LLP (NAO Law)
7. Hire (& promote) the right people. “Hire the best, most talented, most knowledge-able people you can get, to be a part of your senior management team early as you can. Give them equity to keep them motivated. Steve Jobs mentions something about a small team of A+ players being able to run circles around a large team of B & C players. I see that every day. The entrepreneurs [who] hire “A” players early and get rid of C players early, move faster and more profitably than anyone else.” – Scott Jensen, co-founder of Rhythm Superfoods
8. Seek out a Mentor. “As entrepreneurs, we allow our intuition to rule our decision making and often throw analysis & planning out the window. Research is necessary to have objective data about a situation – to make a good decision. A good mentor will also help you think about things you have no experience with, so you’ll make better decisions.” – Jeff Salter, founder of Caring Senior Service franchise
9. Don’t make Promises you can’t keep. “Your word is everything in your communication with your customers & employees. If you say you are going to do something, do it – whether it is meeting deadlines, providing the features they want or other issues. Keep them informed, if you cant meet their expectations immediately. Give them a new estimate. Always follow through, to assure they are satisfied that your promises meet their needs. It is just as important to know when to say no. Say, ‘I can’t do that, but this is what I can do.’ Offer what you can, without committing to something you cant deliver.” – Lais Pontes, president & founder of The Pontes Group PR & Marketing firm
10. Earn your Team’s respect. “Being a leader means being in command of yourself & your Team. Without either there is no balance. Show compassion and earn the respect of others. Learn to encourage, listen & advise, but let them do as much as they can on their own so they can learn and build confidence.” – Michael Kuang, owner and founder of Syphon Fitness
Comments: Are there any other advice you have for Leadership Tips 4 Young Entrepreneurs?