10 things I've learnt in 10 years of running a business

During the past 10 years of running Matchboard , I've learnt so much! Here are 10 learnings I want to share, which hopefully you can relate to.

1. Surround yourself with people you like and respect, who share your values. Be careful not to align too quickly with people you don’t really know. This is a very easy trap to fall into online, and people who are new to an industry or country are particularly vulnerable. I cringe when I see good contacts connect with people on LinkedIn whose background I only wish my contacts knew. One day hopefully there will be an integrity factor built into the LinkedIn algorithm. In the meantime, look for "trust" signals in people's profiles - whether that's testimonials and endorsements, qualifications, common connections, or quality of posts and comments.
2. Long-term business relationships are built on an “us” not “me” mentality. Always put yourself in the shoes of your client or partner to achieve the most sustainable commercial outcomes for both sides.
3. When it comes to customer service, speed is the most powerful “free” competitive weapon I know. Companies that don’t respond to customers’ issues and queries quickly are not truly customer-centric. I also rank speedy decision-making as a key accelerator of business success.
4. Time out makes you more, not less productive. Whether it’s a swim at the gym or a walk in the park, I’ve found an hour away from the desk is invigorating and an opportunity to think creatively and strategically, without distraction.
5. Work-life balance is not an unachievable myth. I may be contradicting the advice of many gurus here, but I have found a balance so know it’s possible!
6. If you run a business, focus on having something unique, a point of difference that’s hard for others to copy. This means less time worrying about the competition.
7. Success comes in all shapes and sizes – don’t be limited by the populist definition of it. Global domination and 8-figure revenues are not required for a small business to succeed. For me, a successful business is one that is able to profitably achieve its purpose.
8. Purpose fuels passion. I don’t know a successful business owner who’s not passionate about what they do.
9. There’s so much we can learn from people of different generations, backgrounds and countries. Embrace diversity! I’ve injected aspects of Japanese, American and Israeli business culture in Matchboard, and this is part of our uniqueness.
10. If you donate a small portion of your profits to charity, I guarantee it will be fulfilling. Giving back is so under-rated. For the past few years, my favourite task has been to notify our charity partner of the month to issue an invoice. And in the process of building Matchboard’s Small Business for Small Charities program I’ve gained such an appreciation for people working in the NFP sector, people who dedicate their lives to addressing issues from poverty and domestic violence to disease and climate change.