Whether you're a seasoned CEO or an aspiring entrepreneur, take note of these tips from founders who achieved remarkable success. Here are our top 10 insights from startup CEOs.
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TABLE OF CONTENTS
1. Embrace failure as a learning opportunity
This may sound like an odd piece of advice to start on: why talk about failing? Turns out that failure is part of any journey; can you think of a time when everything went according to plan? The important part is what you choose to do with that failure.
Evan Williams is a game-changer in the startup world. He built never-before-seen technologies like Blogger, Medium, and Twitter. He was even the original person to coin the term 'blogger.' But none of those would have happened if Williams had given up.
"Every time you start a company," Williams said. "and I've started five or six - you have the opportunity to screw up in whole new ways." If Williams stopped inventing when he quit college, or when he left his first job in California, he never would've made history.
2. Keep a customer-centric mindset
This is another piece of advice that you hear constantly. That's because it's easy to get lost in the numbers and forget what's truly important.
Always put your customer at the center of your decision-making. You may not agree with them and the customer certainly isn't always right. But the right customer makes or breaks your business. Jeff Raider, one of the co-founders of Harry's and Warby Parker, said, "we can take these capabilities — build unique brands, try to really solve customer problems, have the brands have a purpose and a mission— and we can apply them to any category. We just need to find opportunities" (Priya Rao, 2022).
Both Harry's and Warby Parker were brands born from opportunity. They provide a solution previously missing from the market. Keeping a similar customer-centric mindset will ensure that your product means something to clients, because it provides a solution they actually desire.
3. Be resilient
The business world has a reputation for being challenging. You'll hit problems that seem impossible to solve, and maybe your business will fail. But at the end of the day, those aren't reasons to stop; they're teaching you how to navigate.
Evan Spiegel created Snapchat in 2011. The social media app allows users to post images and videos that will disappear after 24 hours. Providing that impermanence means the app has attracted hundreds of millions of users. But, as can unfortunately be expected, some use it for cruel intentions. Spiegel had this to say:
"It's important to be thoughtful and mindful about the things you say to other people. Having been bullied growing up, it's something that's really near and dear to my heart. You probably won't have many friends on Snapchat if you're being a jerk" (Medhi, 2020).
Ultimately, social platforms and businesses are primarily used by people who intend them for good. Spiegel's advice applies to the words you say online, how you take in other's feedback, and the interactions we have outside of social media too.
"Someone will always have an opinion about you. Whatever you do won't ever be enough. So find something important to you. Find something that you love."
4. Focus on effective communication
It's the reason behind every TV comedy misunderstanding. The culprit of unhappy friendships, the human error in every project. Miscommunication is one of the biggest issues in any situation, and it can tangle up your company.
Philip Krim, a founder of Casper, says that it's "better to over-communicate." Clear and transparent instructions, rules, and updates will keep team members informed.
But what does it look like to actually do this? Daily or weekly update meetings, having a message board, and staying up-to-date on company DMs are great places to start. Remember that keeping staff in the loop not only increases project productivity, but makes them feel included, respected, and important.
It may sound like a given, but just watch the next time your team has a misunderstanding. If unaddressed, complete chaos can ensue.
5. Nurture the company culture
We are not robots. Employees need encouragement, goals, and a positive work environment. People do well in inclusive spaces that commend us for good work, celebrate victories, foster innovation, and care about our satisfaction.
"The company culture is about being human, being good to other people," said Logan Green, the founder of Lyft. "We recently did a survey of our drivers. 48 out of 50 said they preferred driving with Lyft because they said that passengers were friendlier."
Whether hosting events in the office or ensuring that people leave your service with a smile, positivity can make a significant impact.
6. Never stop learning
We can't stress enough how important it is to be a perpetual learner. "Starting a company is not always easy, but not a day goes by where I don’t learn something new." - Christina Mercando, Founder & Former CEO of Ringly (Butkovic, 2017).
Experienced CEOs stay informed. They take in new lessons from everyone they encounter, from staff to suppliers to mentors. Encourage innovation and experimentation among your staff to discover ideas you never would've had.
7. Remain persistent
"You should be working on things that challenge you and excite you and things that you have to force yourself to stop doing to go to sleep at night—because that’s the only way that you can have a massive impact." said Dave Gilboa, co-founder and co-CEO of Warby Parker (L.V. Anderson, 2016).
How do we even describe the resilience required to run a startup? The challenges you'll weather? The setbacks you'll face? Every path to success is different, but persistence is a constant.
As Gilboa's co-founding partner Neil Blumenthal said: "Always be tired."
8. Balance risk-taking and caution
There's a delicate balance between taking risks and being cautious. If both are done in a calculated manner, you're more likely to balanced your way across the startup tightrope.
Travis Kalanick, co-founder and former CEO of Uber, said the following about the risk it takes to get started: "Rather than taking lessons in how to become an entrepreneur, you should jump into the pool and start swimming" (The Times of India, 2016).
9. Maintain mentorships
Fresh perspectives, especially experienced ones, are invaluable assets to your startup. A mentor can help you jump leaps and bounds ahead in professional development.
Experienced CEOs like Katia Beauchamp, founder of Birchbox, consistently seek guidance and learn from others: “I don’t think you just have one mentor; there are so many people we have the chance to meet, so I am constantly looking for new perspectives. There are definitely people I go to for the big questions, but mentors are there to be helpful. They aren’t there to give you the answers but to help you see that your perspective can answer the question."
10. Reflect on your personal goals
Starting and maintaining a startup requires hours and effort unlike any other job. At the end of the day, it's important to reflect on how far you've come. Not only can you learn from your successes and mistakes, but realign with your original goals.
"The biggest accomplishment in life isn't what you're paid; it's who you become." - Lori Greiner (Kleckner, 2018).
Greiner has reached her success through QVC and the ABC show Shark Tank. "I’ve achieved a certain amount of success, and now I’m thinking about the good things I can do."
Successful CEOs engage with their community, address social responsibilities, and take the time to reflect on their personal transformation. "There is nobody who will drive your business like you."
Who knows? Maybe articles will be quoting your startup advice someday.
Summary - 10 Insights from Startup CEOs
We hope these startup CEOs provided the insight you were looking for. In review:
Embrace failure as a learning opportunity
Keep a customer-centric mindset
Remain adaptable & agile
Focus on effective communication
Nurture the company culture
Never stop learning
Be resilient
Balance risk-taking and caution
Maintain mentorships
Reflect on your personal goals
Kleckner, J. (2018, February 13). "43 Lori Greiner Quotes on Succeeding in Life & Business." Addicted 2 Success.
L.V. Anderson (2016, March 02). "Spectacular Advice: How a Warby Parker CEO gets things done." Slate.
Marija Butkovic (2017, October 31). "WoW Woman in WearableTech | Christina d'Avignon, founder and CEO of Ringly."
Women of Wearables.
Medhi, T. (2020, March 19). "12 quotes by Snap Co-founder and billionaire Evan Spiegel to encourage entrepreneurs."
Your Story.
Priya Rao (2022, October 27). "Harry’s Jeff Raider and Andy Katz-Mayfield: ‘We have a long-term vision'." Glossy.
The Times of India (2016, December 17). "Travis Kalanick: Uber India is run by Indians. How is it not local?" The Times of
India.
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