That threshold of being a centimillionaire always seems just out of reach. Your company is doing great, but how do you push it over the mark? Let the gurus guide you.
This is entrepreneurial wisdom from those who have been down the path before you, and lived their advice by example. While some of the ideas here may seem conflicting, think of it this way.
Some days it rains, others it shines. Some days you need structure, while other times, you have to go with the flow. So check out these examples and apply them to your business when and where they boost you towards growth.
CEO, Leanna's Essentials
Take advantage of the resources available to you. Don't know anything about business? Luckily, you have the internet. Don't have a product idea? How about Grandma's Haitian pomade recipe? Nothing to package it in? Use some empty Gerber jars. With this kind of resourcefulness, Archer went into business at the age of nine, hired her own dad at 17, and founded a line of haircare products that made her a millionaire before she even went to college.
Focus on the "clouds and dirt." Keep your big picture goals in mind (the clouds) but be sure to get your hands in the nitty-gritty of on-the-ground operations (the dirt). Whatever you do, don't get stuck in the middle. The middle is a dangerous place. That's the world of office politics and fretting over presentations. And that, Vaynerchuk warns, is where your business can go stale.
Talent scout in unlikely places. If you think your next brainiac employee is going to be an ivy leaguer with sterling references, try quizzing the pizza delivery guy instead. Smith uses a personality test to suss out job candidates' social skills, technical aptitude, and even their interest in the arts. Some of Vista Equity's star employees were roofers, Verizon sales people, and yes, a pizza delivery guy! Smith has found these candidates to be not just cheaper than their privileged peers, but more motivated. Hiring them is socially constructive.
Alexa Von Tobel
Keep yourself healthy and take your thoughts off your plate. Von Tobel eats the same thing for breakfast and lunch every day. Why? The same reason Einstein allegedly refused to memorize his home address--you have more important things to think about. Set a healthy meal routine and systematize it. In addition to eating healthily, she makes exercise a daily fixture, because, she says, "everything's better if you exercise."
Be a CEO, not your target market. Although he founded the company, Systrom is a notoriously mediocre Instagrammer. Maybe that's to highlight how he designed Instagram for the everyday person to document life on the go; not necessarily for the fashionistas and pro photographers who maximize the app's potential as influencers. Or maybe it's because he's too busy being a programmer and a CEO to fuss over his own Insta posts! The point is, you don't have to be a geek for your own product.
Keep your personal time personal. Take your space and be a hermit sometimes. "I've found that if you're not responsive to e-mail, it trains people to leave you alone," Karp told Inc a few years back. And he's right: Being on the computer all the time makes you feel gross. So, get your laptop out of the bedroom and don't check your email until you get to the office.
Passion is important. Before you say this sounds like a generic slogan from a motivational poster, let me clarify. What Moskovitz really meant was: the passion is more important than the glamour, the money, the authority, and the freedom---which are mostly not a part of a CEO's reality. If you're going to start a company, do it for the right reason: you're so passionate about your idea that you can't not deliver it to the world.
Author, The 4-Hour Work Week
Craft your success around your dream life. Start with a vision for you life, not just for your work. Make your business the engine that propels you into the lifestyle that you have always dreamed about. Ferriss outlines this in his now-Biblical 4-Hour Work Week, but the lessons never lose relevance. Don't work hard for your money. Make it work hard for you.
Live small, have fun, do something weird. Tony Hsieh is one happy guy. This doesn't just matter for his life and well being, it matters for his business. His lively, amiable approach to life translates into happy employees and legendary customer service. This is perhaps the most important lesson on this list, and it comes from a guy who lives in a trailer park with a couple of alpacas! Your happiness is scaleable.
And Now, Over to You
If you've taken note of these action items, start putting them into practice at work. You'll soon have what you need to join the ranks of centimillionaire entrepreneurs. But don't just take this advice and meditate on it. Go out and make things happen!
Next time around you'll be reading your own name here with the sage advice that you've garnered along the way.