John Jackovin has been starting technology companies since 2000. Over the years John and his business partner Tom Love and developed many other businesses, the latest being Bawte, a way for consumers to more easily own the products they own. Bawte is your personal product concierge service. Follow him @Jackovin.
Who is your hero?
My mom is my hero.
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
"You never know unless you try."
I am not sure if this was ever business advice, but when I was a kid I heard this somewhere. Or perhaps I developed this independent of anyone. Not sure the origin. But as a kid, I always had a plan or a scheme as it turned out. They almost never worked or came to fruition, but I would always say, "You never know unless you try."
I carry that saying's meaning with me today. My life has been trial and error. Some things I got right, many things I have got wrong. But I at least know the difference.
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
I got into a legal battle with a company (actually a nonprofit) that had ridiculously deep pockets. Despite being in the right, there is almost no way to win a battle like that.
What do you do during the first hour of your business day and why?
There is not a first hour or last hour. All my hours tend to be doing what needs to be done. I do enjoy looking through Twitter to see what has been happening while I have been sleeping. I get inspiration through others' stories and that sets me on the right track for the day.
What’s your best financial or cash-flow related tip for entrepreneurs just getting started?
It will always take twice as long and cost twice as much as you think.
It always seems that debits add up to bigger numbers than the same credit numbers -- not sure why that is.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
What's your definition of success? How will you know when you've finally "succeeded" in your business?
When I can stop thinking about an appropriate answer to that question, I will have succeeded.
The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world's most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.