3 Golden Business Advice to Live By

When you’re a business owner, the most valuable lessons frequently come from two places: failure or wise remarks from other business owners. Every business will experience ups and downs. Taking guidance from CEOs who have already encountered some setbacks can assist you in avoiding their errors and accelerating your success.

Align and Adapt

My software startup is moving at a brisk pace at the moment. One of our greatest assets is our ability to move quickly from concept to market. It enables us to implement faster than our competitors. The problem is that we didn’t change our methods for operating in remote environments like the one with COVID. Work overlapped and aims diverged from one another. TAB’s coaching helped me see that I needed to refocus and align our department heads to make the most of our new working environment and maximize the potential of our team members. By the end of a series of assessments and responsibilities meetings, we were everyone on the same page and working toward the same goals and targets. This alignment effort would have cost us weeks of productivity if we hadn’t started it right away.

Advice from — Dan Kasper, TAB Member, CEO of Wishlist

Invest in Culture

As a result of working with a wide number of industrial organizations, I witnessed an increase in investments in safety, quality, and productivity programs. Five manufacturing plants are currently under the leadership of one of the top company leaders I’ve worked with. The correct culture, according to him, is responsible for a company’s high levels of quality, efficiency, and safety. He demonstrated to me that when you put the right people in the proper positions, everything else improves enormously. If you think there’s no time to concentrate on your company’s culture, you may be making a huge mistake.

Advice from — Steve Drury, President/Owner at TAB Focused Directions and Colorado Springs

Don’t Get Greedy

My father has given me some of the most valuable counsel I’ve ever gotten. At the age of twenty, he warned me, “don’t get greedy, you can’t lose by taking a profit” (this was shared with me as I was going through my first IPO). Money is the obvious answer to this question. However, it also encompasses a wide range of other things, such as charitable acts or taking care of the people that mean the most to you. My father’s wise words have stayed with me all these years.

Advice from — Blair Koch, Owner at TAB Denver West

The rational thing is to keep things together as much as possible. Don’t lose hope and let one failure define you. Keep moving forward!