Everything you need to know about setting up, managing and growing small businesses. Veterans, as well as newbies share their stories and valuable lessons.

the ceo magazine, innovation,
Derek Ting, CEO, TextNow

Everyone is talking about disruptors – companies or individuals that are identifying a gap in an industry and filling it in a new or unique way. This is the very nature of business success since the beginning.  Still, people always ask me if I set out to disrupt the traditional wireless business when I first thought about creating my company, TextNow.  The truth is that sounds cooler than the reality.  Here are some lessons I’ve learned as all the cliché terms – “tech CEO,” “millennial CEO,” and “wireless industry disruptor”:

the ceo magazine, sales,
Shari Levitin, Author, Speaker & CEO, Shari Levitin Group

1. Go for the standing ovation every time.

The ultimate downfall for most business people is their inability to handle rejection. But if you’re going to make it as an entrepreneur, you have to be able to take rejection… lots of it. My mentor told me a long time ago to count the number of “no’s” I get and realize that each “no” simply moves you closer to a “yes.”

“Give each pitch your best shot each time,” he told me. “Never take a shortcut.”

Ask any small business person about the challenges they face and at least one of them will be access to capital. In simple terms M-O-N-E-Y. Often no one wants to lend you money when you need it. When you don’t need it, everyone wants to lend you money. Another issue is the paperwork and complexity to apply for loans. When I needed cash to launch my business, I started in a pretty traditional way. I took stacks of paper and went from bank to bank. It was time consuming but I did get the loan. That first loan was under $100,000, typical for small business.

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