S2 Ep13: Eric Rieger - From T-Shirts to IT Services: A Journey of Entrepreneurial Growth
- Author
- Entrepreneurial Leap
- Published
- Wed 25 Oct 2023
- Episode Link
- https://audioboom.com/posts/8390188
In this interview, Eric Rieger, founder and CEO of Webit Services, shares his entrepreneurial journey from a T-shirt business to an IT service company. He emphasizes the importance of planning, problem-solving, and learning from mistakes.
Eric also discusses the significance of having someone who believes in you, the benefits and challenges of starting a business while still employed, and the need for financial literacy. The conversation touches on the traits every entrepreneur should have, the role of mentors, handling criticism, and having a clear vision in business.
Lastly, Eric talks about employee ownership, embracing a learning culture, and the value of coaching and mentoring in business growth and culture development.
Key Points
Eric also discusses the significance of having someone who believes in you, the benefits and challenges of starting a business while still employed, and the need for financial literacy. The conversation touches on the traits every entrepreneur should have, the role of mentors, handling criticism, and having a clear vision in business.
Lastly, Eric talks about employee ownership, embracing a learning culture, and the value of coaching and mentoring in business growth and culture development.
Key Points
- Learning from mistakes and taking shortcuts for efficient problem-solving
- Balancing entrepreneurship with part-time work for financial stability
- The importance of generating cash flow early on, understanding finances, and the difference between profit and cash.
- The importance of having a clear purpose and understanding your "why" as an entrepreneur, and the desire to address income inequality and make a positive impact.
- A coach or mentor who understands and supports mental health is crucial for entrepreneurs to navigate the challenges of entrepreneurship.
- Having a clear vision is crucial for entrepreneurs as it provides direction and purpose for their business.
- Employee stock ownership plans can align employees' interests with the company's goals and contribute to the vision of creating a better world.
Best Quotes
- "Every beginning has an ending, and when you're a business owner, that ending is referred to as your exit strategy."
- "You have to have at least one person in your life who believes in you enough to give you that push into taking that leap."
- "Financial freedom buys you time, and time is the most valuable thing you have."
- "Embrace your inner idiot. And that's how you learn together, right?"
- "Who better to take care of the company than the people who are creating the value and putting their heart and soul into it?"
- "Have somebody who can guide you and see when you're heading down the wrong path or congratulate you, because a lot of times we won't take credit."
