An entrepreneurship panel of 5 CEOs—Greg Hong from Reserve, Sonali Lamba from Brideside, Dima Elissa from VisMed-3D, Eddie Lou from Shiftgig, and Pek Pongpaet from Impekable—provides tips for starting, launching, and scaling a business. The panel offers skilled tips on how to become better entrepreneurs by chasing innovative ideas, practicing self-analysis, and being passionate about one’s own ideas.

Some of our key takeaways from the conversation:

  1. Harness Your Skillset:
    Ask yourself if you are ready to face the risks and unforeseen challenges that come along while running a business. In addition to coming up with ‘the idea’, an entrepreneur needs to be creative and should know his way around sales and marketing too.
  2. Embrace Failures and Pick the Right People:
    It is critical to learn from your failures and to bring discipline into your life. An entrepreneur’s life is like living in a roller-coaster, and patience plays a critical role in dealing with the ups and downs. While recruiting, go for diverse people who will add value to the business’ journey.
  3. Empower Your Employees:
    Know the kind of people you hire and how to use their strengths to your advantage. As the founder of a business, an entrepreneur needs to positively impact the employees to keep them attached to the product. Have an HR in place to address the employees’ needs and for long-term scaling of the company.

Below are some of the key points and moments from the conversation:

  • 0:50 – Greg Hong, Sonali Lamba, Dima Elissa, Eddie Lou, and Pek Pongpaet are introduced as the entrepreneurship panel to discuss the hows, whens, and whys of running a business
  • 5:20 – Entrepreneurship is not for everyone. Think outside the box to raise money and to get sales and marketing done
  • 7:40 – Your employees look up to you to feel good about their jobs and an entrepreneur should be a cheerleader within the organization
  • 8:30 – There are a lot of surprises that an entrepreneur comes across while launching a company
  • 11:10 – The media glorifies startups but there is a lot of hard work and grit involved in achieving success
  • 12:36 – Entrepreneurs need to pick the right people, understand their market, and empower their employees
  • 25:49 – A founder’s role is to think strategically to grow the business and not to waste time in executing it
  • 27:27 – The HR role and standardization of processes is important in scaling a company, in addition to recognizing the strengths of employees
  • 34:00 – Recruit diverse people who will provide varied opinions that will help in dealing with multiple issues in an objective manner
  • 41:44 – Don’t wait to start a business if you have an idea that you deeply believe in

Speakers

CEO, Reserve
CEO, Brideside
CEO, VisMed-3D
CEO, Shiftgig
CEO, Impekable