So many people are terrified of making even the smallest mistake in their business and they are missing out on the opportunity to innovate. This awesome conversation with Steve Rovithis, CEO of Rovi Homes, revolves around embracing your failures, finding what works from other industries, and how best to integrate changes and innovations. Stick around for all that and even some great tips for making the perfect pancakes!
- Entrepreneurs must be ok with making mistakes. The only way to innovate is to iterate. There will be failures every step of the way, but that’s how you will learn best, so be more comfortable with making mistakes and then learn from them!
- As entrepreneurs, you have a great opportunity to really focus on one aspect of your business and go on a learning deep dive into that area. Once your business is in a good place overall, try immersing yourself in everything you can find about one part of your company, such as culture, leadership, marketing, etc.
- Many entrepreneurs hear about some new concept and try to force it into their company immediately after hearing it exists. Try to slow down the integration of new ideas so you can more fully understand them and assess what it being successful really means.
- You should be open to trying new things in your company for 30/60/90 days. Understand that it may take longer than 90 days to see the impact of some changes and consider trying it for 6-12 months.
- When trying something new in your company, it is imperative to have KPIs measure the impact of the change. Equally important is defining what success looks like for this change. Note also, that what success looks like can change over time.
- You don’t know that you don’t like something until you try it. A great example of a business that wasn’t willing to try something is Blockbuster, which had the opportunity to buy Netflix multiple times. They didn’t try anything and now they’re long gone.
- Don’t only look to your competitors for the answers to your problems. Examine other industries for solutions, there is more that is applicable than you may think!
- The Compound Effect by Darren Hardy
Quote of the Show
- “The only way that you're going to innovate is you're going to iterate” -Steve Rovithis
- LinkedIn: https://www.linkedin.com/in/rovithisrealty/
- Facebook: https://www.facebook.com/rovithisrealty/
- YouTube: https://www.youtube.com/c/RovithisRealty
- Company website: https://rovihomesne.com/rovithisteam
- Real Estate School website: http://www.rovithisrealestateschool.com
- Blackstone Griddles (For great pancakes)
- How I Built This with Guy Raz - NPR Podcast
Ways to Tune In:
- Apple Podcast - https://podcasts.apple.com/us/podcast/leadership-in-action/id1585042233
- Spotify - https://open.spotify.com/show/2t4Ksk4TwmZ6MSfAHXGkJI
- Stitcher - https://www.stitcher.com/show/leadership-in-action
- Google Play - https://podcasts.google.com/feed/aHR0cHM6Ly93d3cubGVhZGVyc2hpcGluYWN0aW9uLmxpdmUvZmVlZC54bWw
- Amazon Music - https://music.amazon.com/podcasts/4263fd02-8c9b-495e-bd31-2e5aef21ff6b/leadership-in-action
- YouTube - https://youtu.be/_a3UWDYBz6Q