6 Key Learnings From A Decade Of Running A High Growth Company
The last 10 years have gone by in a flash, so I thought it was a good time to stop and reflect on some of my key learnings over that period. I remember starting Pure SEO in my living room using $200 to build a webpage (I cobbled together the rest – it looked like a child had done it!) and getting a logo done in exchange for a bottle of Grey Goose Vodka!
Little did I know that from those humble beginnings we would grow to a company of about 70 people across 3 time zones and be listed in the Deloitte Asia Pacific Tech Fast 500 for the past 7 years.
1. Don’t Be The bottleneck
It is easy to let arrogance or ego dictate your behaviour and believe that everything the business produces must be seen and approved by you, after all it is your baby and reputation. In reality, if you do this, you stymie your businesses growth and disenfranchise those around you. Learn to trust and empower your team. If you do, the results speak for themselves.
2. Get A Mentor
Almost from day one I have had mentors (both formal and informal). Initially I utilised Business Mentors New Zealand (which was a great experience), after that I reached out to people directly or via organisations such as EO (Entrepreneurs Organisation) and Rotary.
The thing to remember with mentors is that its up to you as a mentee to lead the process and choose which pieces of advice you take on board and which pieces of advice you decide are not for you.
Always treat a mentor with respect and remember they are giving up their valuable time to help you and keep you accountable. If you feel that you are not a good match, it’s better for both parties to be open about this and conclude the relationship – not everyone will be a suitable fit despite the best of intentions.
3. Build A Network
Having a trusted network of likeminded people has been crucial for me. Being an entrepreneur can be a lonely and stressful place; at times you put everything you own on the line for a dream or idea. There are others like you who you will resonate with and who will understand you and hold you accountable.
4. Business Plans Are A Distraction
This is probably a controversial one and something a lot of people will disagree with me on. Personally, I think gut feel and constant momentum are more important than 3- or 5-year plans. I find mind-mapping and quick decisive decision making is much more important.
Business plans do have their place; if you are raising capital or you need one for the bank; however, in my experience (and I’ve done a lot of business plans), they are often a distraction and prove to be pretty inaccurate anyway.
5. People Are Key
Having great people around you is the only way to build a great culture and a great company. Surround yourself with people who you can trust and who are better than you at their function in the organisation. Conversely if a bad egg slips in, deal with it quickly and decisively – if you don’t, it erodes both the culture of an organisation and the teams’ respect in you as a leader.
6. Dream Big
One of the biggest mistakes I made when starting the business was not thinking big enough. If you want, there is no reason not to think globally from day one. In the words of Peter Beck; “Why build a $100m company when you can build a billion dollar company?” Fair point!
Every year in business reinforces to me how much more there is to learn. Every year also brings new challenges and opportunities (a few laughs and tears too!). Even if you are just starting out and your business is small, take a step every day to move things forward. Remember, ‘Mighty oaks from little acorns grow’.