Jim Hughes, founder and CEO of Innovate, talks to us in our first Founder Friday fireside chat at The Hatch Lab. We chat about surviving recession, creating a positive work culture and planning for growth.
[7:00] A lot was learned from the recession, like how to be efficient and innovative.
[9:00] Business strategy is built on four pillars: your financial objectives, value proposition, business processes and how you drive organisational capacity into your business.
[11:45] Building relationships is about relating to people and connecting with them.
[12:50] Positive work cultures come from the top. It needs honesty on a consistent basis.
[14:15] You have to recruit primarily on character and a set of values. Diversity is also hugely important in an organisation.
[17:30] The one thing that determines a business’ success is good management.
[21:47] Resilience comes from challenges you’ve faced in other areas of your life.
[22:52] Have a growth mindset – the ability to be able to take on failures, understand where you made the mistake, learn from it and move forward from it.
[23:20] If you’re not making mistakes you’re not learning.
[23:20] Don’t wait for the perfect situation to make a decision. Make the decision and move on.
[25:15] Three pieces of advice for new entrepreneurs: surround yourself with great people, listen to your customer, be true to yourself.
Links to things mentioned in this episode