Steven Lemma is the co-founder and Chief Executive Officer of Securus Payments, the leading credit and debit processing payment services company in Portland.
Who is your hero?
My parents and Richard Branson.
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
“You can’t and won’t make it.”
I think we all have the burning desire to be successful and prove others wrong, but hearing those words makes me want it even more. Make sure you hate to lose and love to win!
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
Growing the company internationally to Canada was a mistake. We didn’t foresee the uphill battle due to different laws, costs, and business speeds.
What do you do during the first hour of your business day and why?
Business is a always on the brain, so there really isn’t a first hour. As long as you organize your day and plan for success, you will play to win. Know your plan the previous night.
What’s your best financial or cash-flow related tip for entrepreneurs just getting started?
This is the OPM (Other People’s Money) rule. If you have good credit and access to credit lines or credit cards, open a credit line instantly to increase cash flow. Of course, make sure you can pay it back within 30-45 days, so you don’t incur interest. Repeat and watch your profits grow.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
Always be a Tigger. No one like Eeyores!
What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?
Everyone’s definition of success is different. As long as you feel accomplished within, you’ve succeeded.