Profit Coaching Roundup: Leaders Must Get Out of the Way

| January 23, 2015 | By
profit_coaching_leadership_quote_baileyAs part of our profit coaching efforts, we try to go beyond number crunching and help clients really grow their business. We weed through a lot of junk on the Internet, but we save the good stuff to share with you. Here's the 6 most insightful and inspiring bits we found on the world wide web this week:

For Entrepreneurs:

01. 3 Founders Share the Simple Truths of Work-life Balance at a Startup.

Sometimes starting your own company isn't all fun and games. In this video interview, one founder describes the reality of her company's early days as "work-work blance." Yet another founder, more advanced in his career, reassures her that work-life balance changes as responsibilities change. It's all about hiring the right team and learning to delegate. Watch the entire video here.

For Leaders:

01. The 5 Core Principles of Leadership According to Tony Bennett.

University of Virginia's basketball coach, Tony Bennett, has an awesome theory on leadership, built around 5 core princples. The entire article is simply inspiring. tony_bennett

  1. Humility
  2. Passion
  3. Unity
  4. Servanthood
  5. Thankfulness

"Servanthood- do what it takes to make your team more effective and productive." 

02. Leadership Secrets from Top CEOs.

Don Bailey, CEO of Questcor Pharmaceuticals, shares his biggest leadership secret on and we're loving it!

"There are 3 roles of leadership: lead, follow and get out of the way. The key is to know when and how to do each."

For the Budget-Savvy:

 01. Spending Mistakes That Are Sure to Sink Your Business.

There seems to be a landmine of financial mistakes a business can make. CEO of Fortune Cookie Advertising, Shawn Porat, says that nothing can sink your ship faster than undisciplined budgeting. This is also known as spending on the wrong things at the wrong time. compiled his 3 common mistakes of overspending here:

  1. Incurring Too Much Debt Upfront.
  2. Investing in Unprofitable Advertising.
  3. Purchasing Products/Services You Don't Need.

02. Investment Money Lessons from the CEO of Shoptique. published an awesome series this week called: "Billionaire Mentor." While this video is packed with info, here's our key takeaway from founder Olga Vidisheva of Shoptique :

"I didn't take the [investor] money for 8 months. I wanted to make sure my business was big enough that it would be a good relationship with investors. I didn't just want to take their money."

03. The Creator of Somabar Spills His Kickstarter Secrets.

Dylan Purcell-Lowe was serious about his kickstarting campaign for his invention Somabar. This article, on, shares his secrets for creating a Kickstarter campaign that reached its success in only 53 days. Initially, the founders planned on not spending any money in marketing their product. But after thorough research of previous successful Kickstarter campaigns, they decided to invest heavily in professional videography and photography. And, well, it certainly paid off!

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