Cary Prewitt runs two companies, a once in a lifetime experiences company (Black Star Hospitality) and a beer company (Guns & Oil Brewing Co. -- Beer for the Bold) launching in Austin late spring and in Brazil the month before the World Cup. He lives for experiences and smiling! Follow him @caryprewitt.
Who is your hero?
People going after their BIG dreams: Maverick from "Top Gun."
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
To remember that you are your own person, and that only you are living your life. Take advice and listen, but realize you are living the consequences, and you do not have to do what others think you should do or say. Another way I heard this said was, "Best practices drive you to be average; screw best practices and don't be average."
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
Not having proper accounting/bookkeeping tools in place for the first few years made growing my business hard. If I had to do it again, I would have hired someone to manage it sooner so that I always had a clear roadmap.
What do you do during the first hour of your business day and why?
Wake up, go somewhere that inspires me and dive into core focuses -- then emails if I get distracted...
What’s your best financial or cash-flow related tip for entrepreneurs just getting started?
Use credit cards to your advantage, start collecting miles for free travel, but pay them off monthly.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
Step away from the computer. Go somewhere inspirational, go biking, go skiing.
Take a break to refresh, it will give you new vigor and purpose and prevent staleness.
What's your definition of success? How will you know when you've finally "succeeded" in your business?
When I am happy and content in my personal and business life, have made my workplace great for everyone involved, and have the right happy and inspired people involved, that is success. The overall definition long term is cloudy and involves being able to put money towards strong long-term changes to solve and inspire.
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.