"Don't wait to be ready to start because you will never be prepared to do it."
Ivo Modic is a 28-year-old owner and CEO of MIVO Global and Express Trans.
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Table of Contents
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.
Ivo Modic: My name is Ivo Modic. I own a transportation company with over 200 employees and a consultation company for scaling and helping businesses grow and allow people to find themselves in a career. I hope my business experience will help and inspire readers no matter if they are employees or entrepreneurs.
You are a successful entrepreneur, so we’d like your viewpoint, do you believe entrepreneurs are born or made? Explain.
Ivo Modic: From my point of view, everyone is a born entrepreneur; the only thing is if you will find it in you. If you want to be a successful entrepreneur, you need to find that one thing inside of you that will motivate and push you through all the obstacles business places in front of you. I know many people who have never even dreamed of becoming a business owner until they just clicked and started one day. Some of them began because life gave them a problem to solve, and they needed much more than their salary, and some just wanted to test themselves.
If you were asked to describe yourself as an entrepreneur in a few words, what would you say?
Ivo Modic: Positive mindset, big goals, poker face, and a suit.
Tell us about what your company does and how did it change over the years?
Ivo Modic: Express Trans had two employees, a rented office, a paper notebook, and a truck when established. Today Express Trans has 150 trucks and more than 200 employees with offices in Serbia and Slovenia. In the transportation industry, many things changed over the years mainly It was about ecology, and we always did our best to have most of our fleet with new engines that make less pollution. In every business, you need to keep growing, be innovative and creative if you want to survive. It’s normal to have ups and downs but the most important is to be president because every problem has a solution you just need to view it from all angles.
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?
Ivo Modic: Every entrepreneur needs to realize that failure is possible, but that doesn’t mean that you shouldn’t do it or start over. You mustn’t do it just because of money. Make a vision and see the big picture. Do what you love, what motivates and inspires you then you will always find a way to make it work. You should ask for advice but never let anyone tell you what to do because it’s your company, and the company is like a child you need to take care of if you want it to grow successfully. If you make a mistake, accept it and learn from it. Don’t try to blame it on someone else, and don’t expect employees to think and fight like you but allow them to give you their best. Have patience for them and work with them because without a good team there isn’t a good company.
Did you make any wrong assumptions before starting a business that you ended up paying dearly for?
Ivo Modic: Yes, of course! The worst assumption I’ve made was thinking that I could do everything better than others, so I didn’t give people a chance, which resulted in my burnout from work. I also felt that I could count on everyone to help me, which disappointed many people, but I’ve learned a valuable lesson that you can rely only on yourself.
If you could go back in time to when you first started your business, what advice would you give yourself and why? Explain
Ivo Modic: Make more time for yourself. Often we get caught up with our work, and we forget to make some free time to relax. When I started to make more time for myself, I saw that I am much more creative and productive when I clear my mind.
Plan and make deadlines. If you don’t put a deadline on a task or a project, there is a big chance that the job or project will never get done. Get to know all your employees. Approach every employee differently and try to show each of them how you appreciate them so you can inspire them to do their job the best they can.
What is the worst advice you received regarding running a business and what lesson would you like others to learn from your experience?
Ivo Modic: You need to be hard on your employees. That is the worst advice I’ve got because if you keep your employees just because they fear you or it’s just about money then they will never give you 100% and they will leave you sooner or later. Employees need to feel respected, appreciated and to love what they do.
In your opinion, how has COVID-19 changed what entrepreneurs should assume before starting a business? What hasn’t changed?
Ivo Modic: COVID-19 opened so many new views on the business, like when you had the opportunity to see how productive employees can be if they work from home. One of the difficulties is video call meetings because it can never be the same as in person, especially if we are talking about sales and closing a deal.
What is a common myth about entrepreneurship that aspiring entrepreneurs and would-be business owners believe in? What advice would you give them?
Ivo Modic: An entrepreneur is a risk-taker that needs to listen to his gut which is motivated by his passion. Don’t wait to be ready to start because you will never be prepared to do it. If you think that you can’t make a mistake if you plan everything you already made a mistake.
What traits, qualities, and assumptions do you believe are most important to have before starting a business?
Ivo Modic: You need to get out of your comfort zone, be ambitious, persistent, and have courage.
How can aspiring leaders prepare themselves for the future challenges of entrepreneurship? Are there any books, websites, or even movies to learn from?
Ivo Modic: Here are some books I could highly recommend to everyone:
- Think and Grow Rich by Napoleon Hill
- Wake up at 5 AM by Robin Sharma
- The Leader Who Had No Title by Robin Sharma
- Homeless to Billionaire by Andres Pira
- Rich Dad Poor Dad by Robert Kiyosaki
- How to Win Friends and Influence People by Dale Carnegie
I also recommend them to read some interviews from entrepreneurs that inspire them the most and learn from them.
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?
Ivo Modic: I would choose to be a chef because cooking is my passion that I enjoy.
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?
Ivo Modic: There are many candidates, but I will choose Nikola Tesla because I admire and respect the dedication of his life to innovation and making the world a better place for all of us.
Larry Yatch, VIP Contributor to ValiantCEO and the host of this interview would like to thank Ivo Modic 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 Ivo Modic or his company, you can do it through his – Linkedin Page
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