You’re Building Your Business Wrong
You’re Building Your Business Wrong
What is a key to success all business owners should utilize?
I grew up in an environment where my dad was in professional services. He worked for a large bank, so I grew up with this thinking, rightly or wrongly, that there was a way that things were supposed to go that led me post-college. I studied economics and finance. I ended up at a large bank and I'm about six months in I could tell that this was not what I longed for in this world. The best decision I ever made was to go with my gut and not my head. I bet on myself.
Why is that important for an entrepreneur to have a number two?
I think it's critically important because of entrepreneurial isolation. It’s for those times when you look in the mirror and go, holy, you know what? I am frozen in my feet, not knowing what I should do. This is the time when you want clarity and confidence.
I believe that a number two sits as a right-hand man or woman to the number one different from a COO. It's a trusted collaborator, a collaborative partner so that the number one becomes the best they can be.
How is a strategic number two different than a COO? What is a ‘number two’ in business?
I work for the CEO or the founder; I don't work for the company. That is really important because business owners can find themselves in a situation like, ‘I need to work through this but I can't go to my team because the team needs guidance.’ They need clarity, they need confidence just like we do. But we can't always think out loud, right? So this happens behind closed doors, let's figure it out. I also help build the strategy so that you can go to the team with a clear, concise, confident answer and they can fall in line behind you.
This figuring it out stage has to happen in a way that is confident for the number one to be able to disclose. You wouldn't go to your team and say, I'm, we're directionless guys. It just won't happen. But we can work through a lot of those things.
The reason why that's also important for someone like myself is I actually have gone with the founder to the next opportunity. We've transitioned businesses before and I've been part of the deal. I have to come along and I work for him or her rather than the company.
*This interview has been edited and condensed for clarity.*
