Investing and Global Finance News

Liz Neumark’s Five Seeds to Sprouting Success

In a recent article for Forbes, entrepreneur Julia Pimsleur summarized some tips from the recent WEF3. Liz Neumark, keynote speaker at the event, offered “5 Seeds to Sprout Success.” Neumark, who started a small catering business back in 1979, has since been listed among New York’s top companies in the field.

Pimsleur reveals Neumark’s five keys in her article:

1. Embrace and learn from your mistakes-

“At her company Great Performances they keep a running list of all their mistakes in a visible place and she is the first one to add hers. That way it takes the sting out of admitting what’s not working and they can work as a company to come up with good solutions. Their goal? Make sure they keep only making NEW mistakes, not the same ones,” Pimleur writes.

2. Build your real network and invest in it, your time and true attention-

“Liz has a strong network of colleagues and friends, many of them other women CEOs, she has cultivated and invested in over the years,” Pimleur explains. “That means that she has people to call on when her company is landing new business, or she needs input on solving a business problem. She encourages women especially to be pro-active about building their professional networks.”

3. Nurture, mentor and grow-

“You can’t build a successful business without great people around you. Find your team and invest in them through professional development and helping them grow. If people aren’t the right fit, fire fast so as not to compromise your company’s culture.”

4. Crawl out on a limb-

“As an entrepreneur you have to keep taking risks- not only when you launch your business but each time you try to grow your business to the next level. She says ‘You might be shaky at first but not for long.’ As you figure out how to tackle the next level your branch will stop shaking. And then you can aim for the next one.

5. Figure out what’s meaningful-

“Liz says ‘You will be working hard, so you need to have deep faith in yourself, especially if you expect people to follow.’ She cautions that these things alone won’t guarantee that your venture will be success because frankly you also need a little bit of luck. But there are enough to tip the scales in your favor.”

 

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