Brandon Dempsey’s entrepreneurial journey changed significantly when he decided to run Ironman. With significant hours of training and planning required, he could no longer put in the 70–80 hour work weeks. He also had to be more organized and rely more on his team. This paradigm shift, he says, eventually improved business development in his organization and even enhanced personal relationships, including his marriage.
THE EO BLOG
Tagged: entrepreneurial journey
By Mike Whitaker, author of The Decision Makeover
The most expensive lessons in my life have been due to poor choices in business partners. In fact, I lost more than $15 million dollars in 2010 in the demise of my manufacturing business because I was vulnerable to my partners and bankers. When things are going great, partners behave great.
When things turn, you find out the truth. Owning a business is hard enough without suffering from the self-serving whims or circumstances created by your business partner. Choosing a good business partner can mean 1+1=3. A bad business partner can kill your business and your bank account.
Every company has a personalized business model, one that separates them from the herd. For EO Chicago’s Zak Dabbas and Ryan Unger, co-founders of Punchkick Interactive, a mobile app and web development agency, the secret to their sustainability comes from “going flat.” In this special interview, Zak and Ryan offer insights into their EO journey, the decision to adopt a new business model, and how a flat focus has led to a surge in productivity and innovation.
By Charl Vollmer, special to Octane Blog
I’ve heard people say that being an entrepreneur is tough, and that you’ll undoubtedly make many mistakes along the way. As for me, I tried proving everyone wrong. I wanted to show the world that I could beat this entrepreneurial race. Little did I know I would encounter more mistakes than I had ever anticipated, and that which I couldn’t have prepared for. Here are my lessons learned:
- Think things through carefully: An idea popped into my head one day, and I had that “a-ha” moment. I’m going to start my own digital-marketing agency. I had everything planned. I was ready to take on the world. I started executing various tasks, such as getting my website up and running, and creating logos and brochures. After the second day of working non-stop, I realized the amount of work I needed to put in to get my venture off the ground. My excitement clouded my judgement, and I never got the chance to mentally prepare for all the hard work I needed to put in. Sometimes we become so excited that we forgot about what we have to do to accomplish our goal. Once the novelty wears off, we often decide to put things on hold. My advice to someone starting out is: Think things through right from the start. Ask yourself these two questions: How much effort is needed to make this idea/dream a reality? Do you see yourself putting in all this effort?
By Kevin Choquette, an EO San Diego member, and president and founder of Fident Capital
If you want to achieve, become a world-class learner. That’s the tweet-sized heart of this blog post. I grew up in a loving home of modest means, and creating a future became a mandate. I don’t chase after success just for the money. My father instilled in me the “work hard” approach to life, and I’ve employed it to address basically all challenges associated with this pursuit.
That ethic has been both a blessing and a curse. Rewards certainly come from the “Git ‘er done!” mandate and the immediate, tangible results of a hard day’s work. But humility comes in seeing how slow my progress has been, precisely because I’ve addressed most challenges with the same strategy: work harder.