Before launching AURA, an AI system that interprets data from a wide range of sensors to improve marketing, safety and security, I built three other businesses and consulted for dozens of tech startups. While I’ve learned much throughout my entrepreneurial journey, five lessons stand out from the rest.
1. Empower your employees
Writing here at my desk, I can’t help but notice the framed motivational quote, “As the tide rises, all boats rise.” It’s here to remind me that a company is only as strong as its team.
The day I introduced an employee stock ownership plan, the change in the workplace atmosphere was palpable. Almost overnight, employees started coming up with innovative ideas, taking on extra responsibility and going the extra mile. They were no longer just employees; they were partners.
When you empower employees with a stake in your business, you’ll find that their efforts drive everyone toward a common goal. Your specific model of ownership will depend on the size of your company and your long-term goals.
Whether you offer stock options, employee stock ownership plans or direct stock purchases, your objective remains the same: to align personal success with company objectives. Enabling ownership lays the foundation for an engaged workforce that is genuinely invested in your company’s mission.
2. Put character first
As an entrepreneur, it’s easy to let yourself become buried in strategy, financial models and market research. However, that hyper-focus causes some to lose sight of what they value most.
Amidst all the long hours and tough decisions, I make it a point to put my character and reputation first. By doing this, I’ve come to realize that integrity is the one quality that has the most bearing on longtime entrepreneurial success.
In my mind, character is all about respecting the person sitting across from me. This simple principle has guided me through countless business dealings. When you treat a person with dignity, you make an impact. When you make that kind of connection, people tend to remember you.
Treating the people around you with integrity involves being a person of your word. When I say I will do something, I do it.
Being a person of character impacts the way you run your business. In the short term, you will be forced to make a few decisions that cut into your bottom line. Over the long haul, though, your integrity will pay off. People in the business world want reliability. When they know they can count on you, it opens doors and forges long-lasting partnerships.
Character is not simply a moral ideal — it’s a practical strategy that should inform every interaction and decision. As you consistently stand by your values, your company will build a reputation that stands the test of time.
3. Value your mentors
If I could give my younger self one piece of advice, it would be to nourish lasting mentor relationships. Early in my career, several experienced entrepreneurs took the time to point me in the right direction. The insights I gained from them proved to be invaluable. Years later, I realized what a mistake it was to drift apart from several of those connections.
While a mentor’s insight is especially beneficial during the early stages of building a business, it remains valuable throughout your entire career. Your mentors evolve in their trajectory, just as you do. If you invest in these relationships, you will find that the effort pays immense dividends in both your professional and personal life.
4. Learn to recognize and regulate your emotions
We’ve all felt our emotions run high during a negative feedback session, a disagreement or a high-stress deadline. In my early ventures, I quickly noticed how unchecked emotions can cloud judgment and lead to poor decisions.
When you react emotionally in the workplace, your emotions have repercussions that stretch far beyond that single moment of frustration. Personal awareness is the first step in managing these emotions. Understanding your triggers — whether it’s specific feedback, certain colleagues or pressure-laden situations — allows you to develop strategies for handling them constructively.
Whenever I feel my emotions rising, I give myself a moment to breathe and process the situation. Often, I write out everything I’m feeling as if composing an email, and then sit on that message for a few hours before eventually deleting it. This therapeutic venting prevents snap decisions borne out of anger or frustration. Once my initial feelings subside, I can usually understand the other person’s perspective much more clearly.
5. Keep passion in your business plan
Early on, I learned that starting and managing a successful business is far more than monetary investment and strategic planning. It was my passion for the idea that fueled my perseverance and inspired my innovation. Later, I discovered how that passion helped inspire not only my customers but also my employees and investors.
Reflect on the activities you enjoy most. Once you know your interests, take internships, attend workshops or start small-scale projects. Over time, your experiences will refine your interests and guide you toward a niche that genuinely excites you. When you find a way to align your professional goals with your personal interests, you set the stage for lasting success and satisfaction.
As someone who has navigated this path multiple times, I hope these insights will light the way for you as an aspiring entrepreneur. Empower your team, prioritize character, cherish your mentors, manage your emotions, and — above all — chase your passions. The journey will be challenging, but it will also be incredibly rewarding.
Herman DeBoard is the CEO and founder of Huvr.