Feltenstein’s Uncommon Wisdom: Biggest Myth in Business

What’s the biggest myth in business? Bigger is better. A business should be judged not by its size but its impact.

Gut instinct vs. expertise: Which is more important? Gut instinct. Muscle memory isn’t very helpful when you’re charting new territory.

What’s the toughest part of being in charge? Killing ideas that are great but poorly timed. And delivering tough feedback that’s difficult to hear but that I know will help people – and the team – in the long term.

How do you measure success? Success is being able to make an impact in what matters most to you.

What was the hardest lesson you learned during your first year in business? Don’t focus on too many things. Focus on fewer things to make real progress on what’s important.

What’s the best motivator for employees? Progress.

What have you sacrificed for success? Entrepreneurs must devote a portion of their minds to constantly processing uncertainty. So you sacrifice a degree of being present.

What have you learned about yourself while running your business? Understanding my weaknesses makes me stronger. Self-awareness is gold. Otherwise, you miss your faults and fail to change when you need to – and you will need to.

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Go be AMAZING!

Warmly,

Tom Feltenstein