"The best advice is to go out and try. Fail and then repeat. You will learn much more than any book can teach you."
Howard Gordon is the Co-Founder of CustomPlasticPart, a startup offering AI quotation services to manufacturers.
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Thank you for joining us today. Please introduce yourself to our readers. They want to know you, some of the background story to bring some context to your interview.
Howard Gordon: I am Howard and have been a computer enthusiast for all my life. After working with ERP software for manufacturing companies, I decided to solve an actual problem and start my own business. Together with a friend and AI we developed an algorithm that can price components for manufacturing.
You are a successful entrepreneur, so we’d like your viewpoint, do you believe entrepreneurs are born or made? Explain.
Howard Gordon: Entrepreneurs are made, I am certain of that. It really depends on how you grow up and what your social environment is. There are tendencies in people’s personalities that would make a good entrepreneur. However, I still stand to my point that it heavily depends on your environment and can be learned.
If you were asked to describe yourself as an entrepreneur in a few words, what would you say?
Howard Gordon: I don’t give up easily.
Tell us about what your company does and how did it change over the years?
Howard Gordon: My company provides a software tool that helps to create a price estimation for certain manufacturing industries. All you need to do is to upload a 3D object and fill out some information. This tool is currently used by companies for their lead generation, as it easily integrates on any website.
Thank you for all that. Now for the main focus of this interview. With close to 11.000 new businesses registered daily in the US, what must an entrepreneur assume when starting a business?
Howard Gordon: You must assume that you have competition who wants the same thing, as much as you. Learn from them and prove your quality as value to the customer. If you cannot match a competitors’ product quality, then make it up with good service.
Did you make any wrong assumptions before starting a business that you ended up paying dearly for?
Howard Gordon: I started another business, e-Commerce, many years ago. At that time I was not fully aware of hard VAT (taxes…) hurt my bottom line. Eventually, I came to the conclusion that the meager profit margins do not justify the large investment in inventory.
If you could go back in time to when you first started your business, what advice would you give yourself and why? Explain
Howard Gordon: Try to have more work-life balance and hire the right people from the beginning.
What is the worst advice you received regarding running a business and what lesson would you like others to learn from your experience?
Howard Gordon: Investing more money in product development and inventory without having a proof of concept for the business. You need to create an MVP and test the market. Don’t waste money if you are not sure you can sell a product or service.
In your opinion, how has COVID-19 changed what entrepreneurs should assume before starting a business? What hasn’t changed?
Howard Gordon: Entrepreneurs who have an offline business should be aware that government policies can affect your business operation and you can’t do much about it. Playing it a bit more safe, with some financial cushions and less leverage is advisable.
What is a common myth about entrepreneurship that aspiring entrepreneurs and would-be business owners believe in? What advice would you give them?
Howard Gordon: Most successful entrepreneurs don’t sit on the beach and slurp a cocktail while working from their laptops. It is hard work to bring a business into life. At the same time, you don’t have to grind like crazy if you know how to outsource effectively.
What traits, qualities, and assumptions do you believe are most important to have before starting a business?
Howard Gordon: You need the discipline to follow up on your plans. You need to be able to listen to people and be aware that nobody is an expert in everything. You have to assume that your subjective enthusiasm about your product is not shared with everyone.
How can aspiring leaders prepare themselves for the future challenges of entrepreneurship? Are there any books, websites, or even movies to learn from?
Howard Gordon: There are plenty of books out there that help to learn and give a good mindset perspective. However, this also can be a trap, as you keep reading those books. The best advice is to go out and try. Fail and then repeat. You will learn much more than any book can teach you.
You have shared quite a bit of your wisdom and our readers thank you for your generosity but would also love to know: If you could choose any job other than being an entrepreneur, what would it be?
Howard Gordon: I would like to work as a marine biologist. I love the ocean and it would be great to contribute to its preservation.
Thank you so much for your time, I believe I speak for all of our readers when I say that this has been incredibly insightful. We do have one more question: If you could add anyone to Mount Rushmore, but not a politician, who would it be; why?
Howard Gordon: I would add Martin Luther King Jr. as he is an inspiring person and has helped this nation to move forward.
Mike Weiss, VIP Contributor to ValiantCEO and the host of this interview would like to thank Howard Gordon for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Howard Gordon or his company, you can do it through his – Linkedin Page
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