Small-Business expert Rieva Lesonsky

Rieva Lesonsky

Former editorial Director of Entrepreneur magazine Inc USA (20+ yrs from 1978 to 2008) Rieva Lesonsky, is a widely recognized small-business expert and author of the bestselling book Start Your Own Business. Founder and CEO of GrowBiz Media, Rieva has been meeting with, consulting to and speaking to America’s SMBs—and the big corporations —for over 25 years. Below is her exclusive insight into her experiences and entrepreneurship.

Name a person who has had a tremendous impact on you as a leader? Maybe someone who has been a mentor to you? Why and how did this person impact your life?

My parents raised me to believe I could do anything I wanted to do. In America in the 1950s & 60s when I was growing up, women/girls were not given equal opportunities as men/boys. Women were just coming to terms with the women’s liberation movement in the 1960s and 70s. So my parents’ encouragement was quite extraordinary for the times.

I also was lucky enough to have various teachers throughout my childhood who encouraged me to speak my mind.

How and where do you find inspiration?

I am inspired by so much of what I see, read, and hear. There are so many small business owners doing amazing things, reinventing the ordinary, innovating, and creating new concepts. Talking to them, helping them is inspiring.

I often think back to my great-grandfather, and how he (and his family) come to America on a boat in 1906, not knowing the language or what they would do when they got here. As bad as conditions were in Russia when they had to flee, it still had to be scary to travel thousands of miles to a foreign land. My grandfather (who was a teenager when he got here) went on to start several successful local small businesses in Brooklyn. What courage they had. If they could do that, knowing so little, I think why would I let anything (or anyone) stop me from pursuing my dreams.

How do you keep your feelings from clouding your decision-making?

I am the WRONG person to answer that question. I don’t—I don’t think I’m capable of that. I am a very emotional person, and feelings come into the picture all the time. That’s not to say my decisions are emotional ones, but they’re a factor. I’m a big believer in following your gut. When I’m not sure I’m thinking clearly enough, I talk to my business partners or boyfriend, since they’re more practical thinkers than I am.

What’s the best way to keep your eye on future results?

I believe you always have to be thinking in the present and the future at the same time. This can be hard, especially when you’re running the day-to- day. If you have a business plan (and I hope you do) you should look at it often and make changes based on current circumstances and future projections. Entrepreneurs have the advantage of being flexible. Use that. Don’t get stuck.

How do you bring courage and conviction to risky situations?

I’m a plunger. Not everyone is. Plungers find it easier to deal with risk, since we haven’t necessarily thought of all the consequences.

I am also an optimist. A trait that helps entrepreneurs deal with the potential of risk. But I advise others, ask yourself, “What’s the very worst that can happen?” (if this doesn’t work out. ) And if you can handle those consequences, you just do it.

What values are you committed to?

Honesty. Authenticity. Helping all who need it.

I’m a BIG believer in the Golden Rule: Do unto others, as you would want them to do unto you. In other words treat people with respect. All people.

When is breaking the rules okay?

For entrepreneurs, almost always. Rules are not laws. Respect the laws, break the rules. Rules are just guidelines that have worked for OTHER people. They’re not necessarily going to work for you. Don’t break them for the sake of being a “rebel”. If the rules work for you, follow them. If they don’t, don’t. I believe, “if it ain’t broke, break it.” That’s disruption. That’s innovation.

What do you do to live a balanced life?

Tough question. I think the world “balance” makes it impossible to live a balanced life. Balance implies 50/50, and in the beginning, it’s impossible to give 50% to your business. Someone I know at Microsoft once told me she (she’s also an entrepreneur) thinks it’s not about balance, but about blending. You have to blend the business and the personal so you can scale your business and have a life. Understand you will have to reprioritize every day.

What are 5 key books you feel an Entrepreneur should read, and why?

  • The Tipping Point by Malcolm Gladwell and Linchpin by Seth Godin because they challenge popular conceptions. (Gladwell’sOutliers was pretty interesting as well.)
  • JJ Ramberg has a new book coming out next month,It’s Your Business, which is chockfull of tips for small business owners. Easy to apply.
  • PacoUnderhill’s Why We Buy offers great insight into human behaviors
  • A general startup book so you can acquaint yourself with the various aspects of running a business. There are so many out there.
  • Walter Issacson’s Steve Jobs because he’s, Steve Jobs.

I often dip into a book of quotations since they can be motivating. (I own many)

Truthfully I read more fiction than non-fiction. You have to give your brain a rest, and stretch your mind. The imaginative writings of JK Rowling or Frank L. Baum inspire entrepreneurs to think differently, to imagine what doesn’t exist.

What special quality do you see in a student/fellow to mentor them?

Enthusiasm. Optimism. Energy. Outspoken & opinionated, but NOT stubborn or over-confident.

How do you encourage creative thinking within your organization?

Let people be themselves. When I edited the magazine, I made sure the voice of individual writers came through. And have as few rules as possible.

How do you or other leaders in your organization communicate the “core values”?

You walk the talk. Set an example. Be a role model.

When faced with two equally-qualified candidates, how do you determine whom to hire?

Attitude wins me over every time.

What is one characteristic that you believe every leader should possess?

The ability to relate to the people they’re trying to lead. If you dictate, people may follow you because they HAVE to, not because you’re leading them. And they’ll stop following you the minute they can.

What is the biggest challenge facing leader today?

  • A tough economy. A workforce that’s been asked to sacrifice for a long time, and is getting antsy.
  • Not thinking ahead. Get out of the day-to-day and envision your future.
  • Negativity. We’re surrounded by negative thinkers and pessimists. We have to learn to ignore them, and focus on the positive.

What is one mistake you witness leaders making more frequently than others?

Panic. They make decisions in haste because they get scared.

What is the best way to find mentors?

Go to conferences where they may be—and just ask. Make sure you are clear what you want from them, and just ask. People aren’t going to be able to devote hours and hours to you, but many people are happy to spare some time to help a young person get a good start.

Anything you want to share with all the Startupfreaks…

Here’s my motto: “If you believe, and if you persist—all things are possible.”

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One comment

  1. Thanks for the great info! We are looking forward to connect with other mentors too!