Russ: This is PKF Texas: The Entrepreneur’s Playbook®. I’m Russ Capper, this week’s guest host and I’m here with Laura Gibson, trial lawyer and employment and labor specialist with Ogden, Gibson, Broocks, Longoria & Hall. Laura, welcome to the Playbook®.
Laura: Thank you Russ. Thanks for having me.
Russ: You bet. Well let’s start right here in the sweet part of the Playbook® and tell us about what you have seen as some common entrepreneur mistakes.
Laura: Well, being an entrepreneur myself I’ve seen them all. Our firm started 20 years ago and it was four lawyers with no idea how to run the business and we learned the hard way.
Russ: Okay.
Laura: So things I think that are important for an entrepreneur to remember are the basics of their business. Keep in mind what is your brand? What do people know that you do? What do your customers think about how you do it? How do you retain the talent you have? And most importantly from the entrepreneur’s perspective, how do you keep those margins high and increase them if at all possible? So I think what’s important for an entrepreneur where time is everything – I mean that’s all you really have is the time in the day – is to remember that every time you make a decision to spend time on anything other than those four core values you’re making a decision not to spend time on the core value. So use your time wisely and keep your eye on the prize.
Russ: That’s great basic advice. Thank you very much for sharing that.
Laura: Thank you.
Russ: You bet. This has been another Thought Leader Production brought to you by PKF Texas: The Entrepreneur’s Playbook®. Tune in next week for another chapter.