Daily Herald Money Matters: 3 Lessons I’ve Learned as a Small Business Owner

Nov 29, 2022

GUIDEcx Founder and CEO Peter Ord found himself in a unique position in 2017 when he decided to start his own SaaS company. Says Ord, “When I submitted my resignation at my current company, the CEO at the time told me, ‘You’re not ready. You need the experience in this current role in order to be successful. Don’t do this yet.’” 

However, Ord had already made up his mind that he was going to start his own business.  

With confidence in his skills and his vision, Ord went on to create an incredibly successful business. He uniquely understands the ins and outs of starting your own business and offers three tips for small business owners or those creating their own startup companies.

Surround yourself with the right mentors.

Finding the right mentor is vital to your business’s success. You need to recognize the traits of the person that is the right mentor for you, and you also need to understand who is not your mentor.

Failure is temporary and not permanent.

When faced with a trademark infringement, Ord’s unique approach to the situation helped to build an even stronger brand. “Challenges and bumps in the road are the norm,” says Ord.

Hire the right people.

Ord explains how important the right employees are: “As you bring people into your business, your first 100 hires should be kind, optimistic, empathetic, and self-aware. If they match that profile, that will affect the long-term culture of the company. If you get those first employees right, that 100 will help you get the next 1,000 hires and attract those same kinds of individuals.”

As GUIDEcx celebrates its fifth year in business, Ord’s advice is vital to anyone starting or running a small business. 

Read the full article here.

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