Yesterday, June 9, we attended Endeavor Jordan’s Catalyzing Conversations forum of lectures and panel discussions on topics ranging from creative economies to developing a thriving workplace culture. We noted 8 things we took away from the impressive speakers and panel discussions about start-ups, entrepreneurship and boosting your business plan.
1) Former PayPal employee Sal Giambanco, who now leads the human capital and operations functions of the Omidyar Network, says: “All entrepreneurs should constantly be recruiting! Keep the names of good people on your desk. Make a list. Keep these talents in mind.”
2) “Expectations are nothing more than pre-meditated resentments.” Sal says that managing expectations is of utter importance in the workplace. Keep your employees engaged and excited and expectations will always be met with a sense of pride.
3) “The best entrepreneurs can raise equity in almost every market.”
4) What matters most: Mentor capital. “Be a mentor first, an investor second. It’s important to give young, aspiring entrepreneurs the sustainable skills to thrive, not just the funds to back their ideas,” says Allen Taylor, Vice President of Endeavor.
5) Build trust. “It’s a people business, and people do business with people they trust. Without a sense of trust and transparency, a business will not thrive.” @AkTaylor
6) Starting is easy, scaling is hard. “Logistics are challenging. Work on that.”
7) Location, location, location. Not everything works in the same marketplace. Allen says, “E-commerce is awesome. Until you realize things don’t work the same outside the U.S. Adapt to your marketplace and understand local culture and values.”
8) Understand and value your talents. Sal emphasized the importance of truly appreciating your talented employees: “There’s always that employee that outperforms the rest. Constantly value them, challenge them and let them know how much their hard work is appreciated.”
What do you think of these tips for entrepreneurs? Do you have any more tips that should be added to the list? Tell us in the comments below!