7 Startup Secrets From a Successful Serial Entrepreneur and Founder

Nick Matzorkis is an entrepreneur’s entrepreneur, having founded successful companies as diverse as US Search, Global Agora China, SUP ATX (which popularized the sport of stand-up paddleboarding), and more.  While Matzorkis will be the first to admit that success for any startup requires some level of funding and know-how, he has found that these seven business tips in particular can give any startup an edge:

1. Have a strong vision.  A clear and powerful vision is the foundation of any successful enterprise. It’s the North Star that directs action and keeps everyone on the same page. This is not a dream, it’s an articulated mission that everyone understands and trusts. Use your intuition to form this vision. Even if you receive external validation, you and your leadership team are the engine that runs the show.  Trust your gut and protect your vision relentlessly—no one else holds the keys to your success like you and everyone who shares your fire.
2. Find the right partners.  Partners should be chosen carefully. Search for people who are loyal, honest, and honorable. These qualities are non-negotiable. Complementary skillsets, while essential to a balanced team, aren’t as important as character. Without trust and respect, your best team is doomed. Look for people who share your values, so that you can trust them fully.
3. Be ambitious.  Real growth happens when tentative ideas and goals are transformed into actual achievements.  Ambition is the key to exponential growth—you and your partners must be driven and relentless in the pursuit of your goals. This symbiotic drive generates an upward spiral, as you push each other to go higher and achieve more. Uneven ambitions are a source of anger and tension. Make sure from the beginning everyone agrees about growth expectations and the effort required.
4. Make a commitment.  A business partnership is like a marriage, it’s a commitment that can last for a lifetime and you have to deal with wins and losses along the way. Be prepared for disappointments, disagreements, and periods of extreme pressure. These are the moments when the resilience of your relationship will be put to the test. Open communication, respect, and an equal willingness to face challenges are critical to making it through the storms.
5. Don’t give up control of your business.  At some point in your entrepreneurial journey, you will likely need external funding, but be wary of giving up control of your company. Do not abandon ownership of your equity and control unless you absolutely need the capital. If you do have to give up some control, ensure your contract allows you to regain it in the future. This preserves your long-term value and keeps you invested in the business you’ve created.
6. Don’t let accountants and attorneys dictate how to run your company.  Guidance from accountants and lawyers is helpful, but keep in mind they’re advisers, not decision-makers. Their experience is invaluable when dealing with legal and financial issues, but it should not determine your business plans.
7. Love what you do and have fun, even during the tough times.  Being in business is challenging but not impossible. Create a positive and productive workplace where everyone feels valued and inspired. Even in stressful times, keep a smile on your face and enjoy small victories. A healthy environment not only enhances morale but also results in increased productivity and innovation. When you’re passionate about your work, the problems are easier to overcome and the victories are more satisfying.