Eddie Geller has been an entrepreneur in the tech market since 1994. In 1999, he founded Unique World which exited to a large US company in 2011. Eddie is now the co-founder/CEO of Tinybeans, a private social network for families. Follow him @eddiegeller.
Who is your hero? (In business, life, or both.)
My wife and four boys. They are who I live for and who inspire me to believe in myself and what I stand for. Having recently moved from Sydney to New York with them, their sacrifices and willingness to adapt is amazing. Moving from the summer of Sydney living near the beach for the winter of New York is no simple task, but they have all lapped it up and embraced these challenges.
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
Help where you can, be a strong believer in helping others, and communicate, but the No. 1 priority has to be transparency.
Jack Stack, the forefather of open book management, taught me that. Be transparent, share the numbers in real time, educate your people on the specifics of the business and watch them grow and succeed. Most decisions in companies fail because people are making those decisions without context. Transparency and context are everything. Share as much as you can with your team and they will deliver more than you could have ever hoped for.
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
My biggest mistake was not helping people understand their role in the company as it relates to the overall goals. It’s like coaching a sports team to win without having any game plans or strategies.
What do you do during the first hour of your business day and why?
As most of my team is back in Sydney, I review news/emails from the night before, review and plan the day ahead.
What’s your best financial/cash-flow related tip for entrepreneurs just getting started?
Have confidence in backing yourself. You can launch for free these days thanks to software and interns. You just need the courage.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
Ask for help more! Seriously… too many people don’t ask for help as often as they should.
What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?
We will have succeeded when we have fully realized our purpose and vision to “create a global network that connects parents and families to the people and resources a child needs.”
The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.