Arek Skuza, CEO and founder of iTraff Technology, is an entrepreneur and businessman who was been featured by Forbes and many others. He loves to sell and build businesses with people. Follow him @mrskuza.
Who is your hero?
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
Lasers can go through every wall. Focus is everything. After that, sales come.
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
Being unfocused is the source of every further mistake. I have learned that being a leader of more than one company is not a problem — the problem is when you focus on many processes. To succeed, I believe in focusing on two processes, max — for instance, sales and fundraising, or design and product.
What do you do during the first hour of your business day and why?
Run. Meditate. Read.
Business is people. People are emotion and feelings. Running, meditating and reading all help shape my mind and enable me to know more about people — and myself.
What’s your best financial or cash-flow related tip for entrepreneurs just getting started?
Start charging from day one. Giving it away for free harms the technology industry overall.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?
When my products are acquired by big players more than three times, I will have succeeded. After that, my team will be rich with a sense of accomplishment. And it will be the foundation of their entrepreneurial self-esteem so they can, in turn, start their own companies.
The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab , a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.