Chieh Huang, the co-founder and CEO of online bulk-products seller Boxed, thinks his company could make more money if it chose not to treat its employees well. But for him, prioritizing employee well-being and social good over short-term profits makes good business sense. "I just hope that we're striking the right balance in the long run, where I look back and say, yeah, we've made some money and did the right thing at the same time," he says.
Huang talked about how this approach has helped the seven-year-old company succeed and shared advice for entrepreneurs on Wednesday in Inc.'s latest "Real Talk" streaming event. Watch the clips below for Huang's tips on fundraising, doing right by your employees and your customers, and how much of entrepreneurial success comes down to dumb luck.
On why the "pink tax" on tampons and other products is "stupid," and what Boxed is doing about it:
On how his mindset shifted after a few years of leading his company:
On the dangers of "believing your own BS" as an entrepreneur:
On how to know that you truly believe in your product and in yourself:
On the three most important types of early-stage investors:
On why you should stick to a simple business model when you're first starting out: