If you have thought about what a high-intensity acquisition or scalable start-up needs to be successful, you've probably thought about what it takes to succeed as an entrepreneur. After all, it’s not only about having a great idea or the funding that drives growth. It’s also about “having what it takes” or “having the grit” to handle anything that comes your way.
With every venture, there are four concepts that have proven essential in driving success for M7. These ideas may appear to be simple and clear. But one thing we’ve learned is it’s the seemingly “easy” things that can often be the most difficult to get right.
Our Pillars for Successful Entrepreneurship
Family is everything.
You, your employees, your customers—all of you are part of families, and family is the central building block of society. Above everything, entrepreneurs need the support, guidance, and understanding of their loved ones to be successful. Your family will make sacrifices for your entrepreneurial ventures, and the price of success should NEVER be about sacrificing family. Success should enrich the lives of those around you, and in the best case, provide a pathway to growth and togetherness.
Risk is a requirement.
Because starting your own business comes with risks, it’s essential to understand who you are. Know yourself well enough to really understand the risks you are willing to take. At the end of the day, if the risks negatively impact your health and well-being, entrepreneurship may not be right for you. One person’s exciting risk is another’s nightmare. And that’s okay. Each of us is built differently.
Education never stops.
Become an expert in your business and industry and become deeply engaged in your community to avoid costly mistakes. This knowledge gives an entrepreneur the freedom to take calculated risks. After all, ignorance is the enemy of success. Knowing yourself, understanding your industry, competitors, and market challenges, and recognizing your business’s place in the world—all of these are essential insights for entrepreneurs.
Ethics pay.
Unethical business practices as a lever for success are at best ineffectual and at worst criminal. Instead, approach business with a moral compass set to fair, honest, and transparent. Entrepreneurs who operate with the best intentions and strive to be a steward of their business and a positive influence on the communities thrive. Integrity doesn’t cost your business anything. In fact, for M7, it’s proven to pay off.
shouldn’t cost you a thing.
We’ve come to understand that entrepreneurship takes a certain kind of person, who can embrace the many challenges that come with business. It's not for everyone, and that’s okay. But, if you’re built for entrepreneurship, truly enjoying the freedom of having your own business will require that you never lose sight of the importance of family, continuous learning, and integrity. In our humble view of the world, anything less is too steep a price to pay for success.
About M7 Holdings
Headquartered in Akron, Ohio, M7 Ventures, LLC is a family investment office made up of a diverse portfolio that includes private equity, venture capital, and real estate development. Our team brings over 25 years of experience offering entrepreneurial guidance, strategic thinking, and capital formation to help emerging and growth-stage companies succeed. Learn more
