Contributed by Kym Huynh, an EO Melbourne member, EO Global Communications Committee member, and co-founder of WeTeachMe. Kym is fascinated by entrepreneurs and their journeys, so he asked EO members from various chapters to share their experiences. Read his earlier posts on what EO members wish non-entrepreneurs knew about entrepreneurs, how EO members define success, the impact of core values and lessons learned from their best and worst partnerships.
Here’s what seven EO members shared when asked, “What is the best business advice you ever received?”
If I outgrow you, I will fire you!
“If I outgrow you, I will fire you!” These were the words of one of my first clients in the early days of my advertising agency. I took these words seriously, and I committed to applying that idea to every team member, vendor and future client.
Our advertising agency became very good at advertising for our clients, but the real business we were in was growth; growth for our team members, growth for our clients, and by default, growth for our business.
Inspect what you expect
When I was in retail many years ago, my boss at that time would repeat ad nauseum a simple and clear message: Inspect what you expect. In practice, she would “walk and talk” the sales floor and inspect all the expectations she had shared the day prior.
This taught me that we all need parameters. I learned that it’s important to be clear about our expectations and that our teams work hard to deliver on those expectations. Therefore, we need to revisit them, praise when accomplished, or course-correct when needed.
—Katty Douraghy, EO San Francisco, president, Artisan Creative