Most startups start with a small group of close friends. What happens when you add new members to this small group? How can you keep the company culture intact? What are the steps to scale up a business in order to expand market share and increase offerings? How can a small startup become a successful midsize or large business? We are speaking with successful business leaders to answer these questions. They can share their stories and insight about the "5 Things That You Must Know To Scale Your Business Successfully". We had the pleasure of interviewing Tyler Bray as part of this series.
Tyler Bray, a Forbes 30 under 30, entrepreneur, is also the first investor and manager at North Star Boys. He has always been passionate about entrepreneurship and being a leader in the community. He started his own business at the age of 14 called The Trailer Parts Outlet and has since built businesses from the ground up. He loves all aspects of managing a group such as the North Star Boys: communication, culture, empathy, leadership and building a community.
We are grateful that you have agreed to participate in our interview series. We would love to get to know you better.
We would love to know a little bit more about your "backstory strong>
My journey as an entrepreneur started at the age of 14 when I was asked by my dad to describe my dream life. He told me that being an entrepreneur was the best way to get there when I shared my goals. Before he would mentor me, he required me to write a two-page essay on my plan. I was able to dedicate my entire life to building a business.
It's been a remarkable career. What was the most important decision you made in your career?
My most important decisions are based on values and how I treat others. It is incredibly satisfying to see a team built on trust and empathy by focusing on support and empathy.
Which is the most memorable initiative that you have led and of which you are particularly proud?
The North Star Boys are a way for me to grant permission to children who are just like I was to shoot the stars. There is nothing more impactful than showing young people that anything is possible.
Sometimes, our mistakes can prove to be our greatest teachers. What is your greatest lesson from a mistake that you made?
You have the opportunity to teach your team how to make mistakes as a leader. I will focus on something simple and small. I was insisting on timeliness and found myself late for a meeting. I kept my people waiting! I asked everyone to text me their Starbucks orders and I arrived with 10 drinks. I didn't lie, deny or blame anyone. Every mistake can be an opportunity for you to show honesty, ownership, problem solving, and responsibility to your team.
How have mentorship and mentoring influenced your career?
Mentorship has been a huge part of my life and I am determined to give back. My father was my mentor at the beginning of my entrepreneurial career. He was followed by many others in my industry who were willing to take me under Shared Office Space. I still remember those days every day and look forward to mentoring others.
It takes practice and time to develop your leadership style. Whom should you look up to for your leadership style? What are the key characteristics you strive to imitate?
We are grateful for your sharing this information with us. Let's discuss scaling a business, from a small startup to midsize or large company. Can you share your experiences with us and the "5 Things You Must Know To Scale Your Business Successfully"? Each one of these should be illustrated with a story.
5 things you need to know in order to scale your business.
- Your personal bandwidth can be so constrained. Look for ways to delegate.
- Trust is key to successful delegation.
- Pivoting allows you to take your business in new directions.
- Diversification opens up new opportunities for you to win.
- Your team will be asking you for more. It's worth it!
Could you please share some of the common mistakes companies make when trying to scale businesses? How can you correct these errors?
Avoiding over-promising and not being able to deliver is a common mistake. This can lead to your people becoming useless. Take care of your employees and be ready to take on more business.
Scaling involves bringing in new employees. How does a company maintain its culture and ethos while bringing in new employees?
This is more an art than science. Your hiring manager is the person who can best identify cultural matches. Spend more time with them to help you find the right match than anyone else.
Scaling your business' knowledge and procedures is a crucial aspect of success. What tools and techniques have you used to scale your internal operations?
Which software or tools would you recommend for new hires?
There are many software options. No matter which tool you choose, focus on communicating your values first.
You are an influential person because of your role. What if you could incite a movement that brought the most good to the most people? Your ideas may be the catalyst for something amazing.
I want young people believe that anything is possible. If we tap into our creativity, there are endless resources of untapped creativity that could solve many long-standing problems around the world.