The Early Mistakes Are Drivers for Future Success.wav

Speaker: Willy Schlacks (Co-Founder & Co-CEO of EquipmentShare)

Key Points

• Invest in yourself before investing in other people. Double down on what’s good (i.e. mental & physical health). You are the driver of you business. You must have balance between work and life. The driver of successful businesses is not effort but balance. You lose creativity when you work yourself to death. In the good times, everything seems easy, but when you hit the bad times, you will realize that keeping balance pays off.
• You can hire people that are better than you but only if they are a character and culture fit. Don’t let hard skills blind you from the bad.
• In 2016, EquipmentShare hit a wall with fundraising after the bond market plummeted. There was an extreme temptation to be depressed and hedge your bets elsewhere when everyone was a no. You have to maintain resilience, emotional stability, discipline, courage, and optimism to push through these times. Many investors have never operated under these circumstances. What you will realize in the later stages is the fundraising is easy but maintaining your personal growth is hard.