Daniel Lubetzky

The August 2012 issue of Washington SmartCEO features a story on Daniel’s friend, Fred Schaufeld. Schaufeld shares entrepreneurial advice for would-be business owners based on his experience as Chairman and Founder of N.E.W Customer Service Companies. See below for some his wise words.

Spotted by Daniel Lubetzky, by Julianna Storch

Money isn’t everything: “The difference between people with money and people without money is money.”

Embrace Failure: “You’re not going to know if you can do it unless you try. One of the nice things about the U.S. is failure here isn’t death, and you learn more from failure than you do from college.”

Be realistic about yourself and others: “Surround yourself with people who are up to the task and be realistic when they’re not. Be realistic with yourself about when you’re not up to the task. You’ll do a better job when your professional life is in sync with your talents and values.”

Create a meritocracy: “There are no true meritocracies, particularly in a small company, because the only people who will work for you are friends, family, and fools. That said, you ultimately need to cerate a meritocracy to get the best people.”

Know what moves you: “Understand why you’re in the business. I found tremendous motivation in my family. I gave up ever being good at golf so I could spend time with my family.”

Ditch the ivory tower: “You have to be wiling to do what needs to be done, and it won’t all be done from up in an ivory tower.”

Delegate: “Learning to delegate is critical. If you are doing everything and don’t let go, you’re never going to get past the little location you started with.”