Alex Sabol, an IU Bloomington alumnus, is the founder of Tipped. The company helps entrepreneurial organizations and their leaders navigate major transitions like large growth plans, fundraising, and mergers and acquisitions. It implements people, processes and operational initiatives using a system called EOS, or Entrepreneurial Operating System.
Crimson Catalyst: If a person has an idea for a business, what are the first three actions they should take to make it a reality?
Alex Sabol: 1) Ask people if they will pay for it. 2) Do/make it and see if they will actually pay for it. 3) Build out some simple processes and put trustworthy people around it. 4) Implement a system like EOS in your business to really get you moving.
CC: What has surprised you during the course of your day-to-day entrepreneurial journey?
AS: Learning to be okay with how often I’m wrong in business, which is about as often as I am in marriage – daily.
CC: How do you define success?
AS: I define success as doing something I love, getting paid to do it, having amazing relationships in my life and making a difference for myself and the people around me.
CC: What is dangerous or scary about being an entrepreneur?
AS: What’s dangerous is that you invest loads of time or money into something where you don’t ever see the fruits of your labor. What’s scary is not knowing whether to let go or not.
CC: What is the best advice you’ve received?
AS: “Without integrity, nothing works.” I got this in a leadership training program I did and will never forget it. Without a foundation of integrity, like keeping your word and doing what is expected of you, you can’t expect things to work – your business, your relationships, your life.
CC: What is the best advice you can offer?
AS: People are the greatest asset in any organization. Treat them well and all the boats will rise.