VanCity Buzz recently published a profile of HIGHLINE’s Founder & CEO Marcus Daniels as part of their #MyBusinessTip series, which included Q&As with notable Canadian business leaders. In his interview, Marcus shared some of his personal and professional life hacks, advice to his younger self, his thoughts on embracing failure, and the traits he thinks entrepreneurs should look for in an investor. Below are a few excerpts.
On taking bigger risks:
If I could go back, I would be both more focused and bolder with my entrepreneurial ventures. There were times in the past when I hedged to reduce risks, which in turned also limited the upside.
On minimizing distractions:
I’m very focused on what I say “yes” to, and removing most distractions in my life without compromising family life. I feel very fortunate to be able to spend meaningful time with my favourite startups: my son and daughter.
On speed and failure:
Speed matters and is usually one of your greatest advantages as an entrepreneur given your limited resources. If you fear failure, you can’t move fast and get things done each day. This is probably one of the things that holds more entrepreneurs and intrapreneurs back. It took me years to move as fast as I do now without compromising quality, and it’s why I believe embracing failure is so critical. The scars will make you tougher, you will learn faster and be more be effective as an entrepreneurial leader.
On qualities founders should seek in investors:
The quality of who funds you is very important. The most important thing in taking external money isn’t about the amount, but about the quality of the actual investors, and their ability to help your business going forward. There’s been a huge shift in recent years due to the fact that there are more options to choose from; the best founders have a lot of choices. It’s clear that the so-called smart money coming from successful entrepreneurs-turned-angels and institutional funds that bring additional value outside of money is paramount in helping you grow.
Read the full article on Vancity Buzz here.