Tier10’s co-founder, Scott Fletcher, was recently featured in an article on BusinessCollective.com. Get his take on making it in the business and more…
Never stop trying to improve whatever it is that makes your company great.
Scott Fletcher is a co-founder and partner at Tier10, an award-winning advertising agency specializing in automotive based in the the Washington D.C. area. With over 15 years of experience, Scott has spent his entire career in the automotive advertising arena. Prior to Tier10, Scott worked as a Marketing Director for the Koons Automotive Company. He then went on to join Zimmerman Advertising and manage the North East Region accounts for AutoNation. Follow him at @FletcherVA.
Who’s your hero? (In business, life, or both.)
In life, my mother and wife are my heroes. My family has had a huge impact shaping who I am today. I was wired to be resourceful and solve my own problems by thinking outside of the box in a competitive way. My wife has provided support and encouragement through all my endeavors.
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
Hard work overcomes talent.
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
The biggest mistake I’ve made in business was trying to scale too quickly. As a service-based business, we rely on a lot of people and good talent is hard to find and retain. As such, you have to control your growth or your quality will suffer and cost you clients.
What do you do during the first hour of your business day and why?
I create a game plan for the day by going through my calendars, emails and notes and prioritizing action items.
What’s your best financial/cash-flow related tip for entrepreneurs just getting started?
Require payment upfront on costly deliverables. As an ad agency, there is a lot of risk in executing deliverables, especially large media buys. We require our clients to submit credit applications with media entities and assume financial responsibility.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
Evolve and never stop improving your product. Ask yourself, “What’s next?” “How can I solve problems better?” and, “How can I provide more value?”
What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?
I don’t believe that there is a finish line in regards to success. I define success through growth and as long as the business is growing, we are succeeding. I know I’ve already succeeded because I am doing what I love.