1. Know thyself. Greek Philosopher Socrates’ mantra still rings true today. Max knows that entrepreneurship isn’t for everyone. You need to be honest with yourself and your capabilities. Not only is this true for starting your own business, but also if you are entering one. “Understanding your own limitations is the reason that Eisenhower won and Hitler lost. The same is true in business,” says Wenneker.
2. Don’t stop. Limiting yourself can prevent you from reaching your full potential- you might surprise yourself if you try! When Max decided to open up an office 1200 miles from Wash U, he was taking a big risk. But instead of letting his youth limit him, he acted professionally and approached the new business endeavor seriously. In doing so, he was able to make his business profitable at the age of 19!
3. Build the right team. No one’s going to love your business or idea as much as you do, but you still need other passionate people to help it succeed. Surround yourself with the best people that understand and support it, not just your friends. Handpick people with different skill sets and make sure they have the type of personality that you work best with. A good worker is only a good employee when they know how to work well in a team.
4. Be transparent. Make sure that you are honest and upfront about all of your companies’ intentions, both good and bad. If you’re going to charge extra fees for a special service, make sure you are clear with not just your customers, but also your employees. In order to create a relationship with your client, you need to make sure they trust you. Be direct and honest.
Have fun!Even if you’re the best businessperson in the world, you’ll never run a good business if you’re not enjoying your work. Starting a company is going to take up a significant part of your life. “Passionate business people don’t look forward to the weekend, they look