The start of any entrepreneurial journey can be challenging. Balancing the day-to-day operations, constantly putting out fires, and working in a demanding environment while trying to attract clients and build your brand can feel overwhelming. A significant challenge entrepreneurs face is transitioning from merely surviving the daily grind to building a timeless identity and legacy.
Over the last 30 years, we’ve witnessed a select few who have succeeded, whether you agree with their methods or not. When you hear names like Musk, Jobs, Gates, or Bezos, an image immediately forms in your mind. What can you learn from them, and other successful entrepreneurs, to help you create a lasting identity for you as an entrepreneur and for your business? Una Doyle explains
Align your values with the business to create a timeless identity
To build a lasting brand, there must be a real difference in the values your business stands for. Common values like honesty and integrity, though important, are often overused and not unique. Really they are ‘permission to play’ values, why would you have team members that didn’t exhibit these values? Instead, focus on how you want to be perceived both externally and internally. As Apple famously said, “Think Different.”
Surround yourself with people who share your core values. This doesn’t mean they have to agree with you on everything – in fact it is better if they don’t – but having people who align with your principles will add value and help push boundaries as you grow and scale.
Build a legacy that endures in your absence
Relinquishing control is difficult for many leaders, yetbut learning to delegate is crucial. To do this successfully, you must trust the people around you. If you surround yourself with people you don’t fully trust, you’ll become a bottleneck—blocking transparency, resisting feedback, and being reluctant to change. History has many examples of this. Do you remember John Antioco, the CEO of Blockbuster, who rejected the chance to buy Netflix? Poor leadership and reluctance to adapt are often at the heart of failure.
Often these poor decisions happen because people don’t feel they can speak up due to a lack of trust and fear of conflict. Yet when vulnerability-based trust exists teams can have unguarded debate and arrive at the best decisions – and usually much faster too!
How to empower a team without micromanaging: Build trust, delegate responsibility, and allow your team the space to thrive without excessive oversight. This way they have the confidence and experience to make decisions when you are not around.
Shape the market by innovating, not focusing on competition
Two key mantras in business are: standing still means falling behind; and focusing too much on the competition can stifle innovation.
As a leader, it’s vital to adapt, change, and innovate. Few have done this better than Lego. In a digital age dominated by iPads, iPhones and gaming consoles, you might assume traditional toys like Lego bricks would become obsolete. However, when Lego faced a crisis, it reinvented itself by partnering with popular film and TV franchises, breathing new life into the brand. Innovation doesn’t always mean groundbreaking inventions; it can be as simple as forming game-changing partnerships.
Build a reputation as a problem solver
Every industry has its challenges; and customers are becoming increasingly sophisticated. One of the most valuable skills you can have as a leader is problem-solving. By identifying your customers’ pain points and offering solutions, you establish your business as a trusted problem solver.
Elon Musk, for instance, recognised waste as a major issue in space travel. By developing reusable rockets, SpaceX became a critical player in NASA’s space program. In 2022, SpaceX held 78% of the market share for all US-based space launches.
Foster a culture of accountability
Building a culture of accountability is one of the toughest challenges leaders face, especially as a company grows. However, a strong culture of ownership can create an environment where mistakes lead to learning and transparency. When problems are addressed openly and quickly, trust is built.
While maintaining accountability is easier in smaller teams, scaling it across a larger organisation requires effort. Develop support systems, such as a ‘Business Operating System’ (BOS) that captures what the company is about and where it’s going from the long-term vision to detailed quarterly plans. From the people structure to processes. This to ensures that everyone, at every level, has the opportunity to embrace the company culture. Finally, encourage transparency and collaboration between departments to foster a sense of unity and shared purpose through an effective meeting structure and cadence
