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How To Be A Successful Entrepreneur

E-School for Girls presents How to Be a Successful Entrepreneur: Stories From Female Innovators. In this talk Mona Patel, CEO of Motivate Design shares with the audience the five things she wished she knew before she started her company.

E-School for Girls is a two-week summer intensive program at NYU designed to empower young women to become confident leaders and entrepreneurs.We strive to give rising High School juniors and seniors experiences that enable them to take initiative, pave their own paths and have the courage to achieve their own definition of success.

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How To Be A Successful Entrepreneur

  1. / Page 1 What I wish I knew Before I started a company
  2. / Page 2 Motivate Design is a user experience staffing, research and design shop, founded in 2009. M Y C O M PA N Y First, what I started Moderated Do-It-Yourself Workshops How it looks How It works Design Discovery Validation Research Full-time Contract Staffing
  3. / Page 3 Business karma trumps a business plan Wish #1
  4. / Page 4 DO GREAT WORK Don’t think of everything in terms of return. Put forth your best work and the money will follow. TREAT PEOPLE WITH KINDNESS In the long run, being kind will get you farther than any business strategy. We were able to grow organically, through repeat work and word-of-mouth, because we are nice people. MAKE MEANINGFUL CONNECTIONS Don’t write people off just because they can’t do anything for you at the moment. I’ve found some of my best employees and favorite clients through connections that I least expected to lead to business. You never know! W I S H # 1 Business karma trumps a business plan Business Plan Business Karma
  5. / Page 5 Wish #2 Nobody knows everything
  6. / Page 6 I knew I didn’t know everything, and sometimes thinking about how much I didn’t know held me back. I would compare myself to other people who seemed to know more than me (or so I thought). I asked questions and found out they felt just as scared and insecure as I was. I NEED TO KNOW: W I S H # 2 Nobody knows everything What I do know and focus on that What I believe in, and what I’m willing and not willing to do. What I want so I know where I’m going. What I want to leave behind, so I know what I’m building.
  7. / Page 7 Not everyone I hire will succeed Wish #3
  8. / Page 8 Someemployeesaregreat.Iconsidermyselfluckytoworkwiththe smartest,nicest,justallaroundbestpeople I could find. (and that’s my fault) W I S H # 3 Not everyone I hire will succeed Take too much Want too much attention Demand too much Don’t exemplify companies values Misuse company resources Don’t take pride in their work Want more structure Don’t contribute to company culture Don’t know what they want
  9. / Page 9 Find people that are better than me Wish #4
  10. / Page 10 As a founder, I originally had to do “everything”, but that doesn’t mean I wanted to. I learned my real job was to find people who do certain jobs better than me. DEDICATED EMPLOYEES Take Finance. I sent invoices when I felt like it. Apparently that’s not the way to do it. So, I found dedicated people who not only send invoices routinely and on time, but like to create projections and financial models. They truly help me understand how to run an efficient, profitable business. W I S H # 4 Find people that are better than me My Job Now Things I love Necessary things I don’t love
  11. / Page 11 Having kids will propel my business Wish #5
  12. / Page 12 Two months after founding Motivate Design, I found out I was pregnant. TWO KIDS LATER Havingkidsforcedmetochangemybusinessfromonethatneededmyconstantattentiontoonethatcouldrun withoutme.WhenIreturnedtoworktofindthatmyteamwasdoinggreat,IrealizedIhadroomtocreateanew job because they were doing my old one better than I was! W I S H # 5 Having kids will propel my business Motivate Design founded First kid changed my business to one that could run without me Focus on sales New partners Second kid 2009 2016 Hired new team Wrote a book Plan for growth New office TEDx
  13. / Page 13 Thank you!