Over the course of the last 10 years, Ilya Bodner has successfully launched, managed, and sold off several businesses. Each organization has added value to his understanding of the business world today. His philosophy is that nine things out of 10 will fail, but that golden one is always worth the battle. Follow him @ibodner.
Who is your hero?
Michael Jordan made me dream big as a kid. I’m still a kid and still dreaming.
What’s the single best piece of business advice that helped shape who you are as an entrepreneur today, and why?
Nine out of 10 things fail but one success is worth the failures. I’m still chasing that one true success.
What’s the biggest mistake you ever made in your business, and what did you learn from it that others can learn from too?
I borrowed from loved ones (family). Simply put, it wasn’t worth it. Even if it feels like an absolute need, don’t do it. In the end all you have is your dignity and your loved ones.
What do you do during the first hour of your business day and why?
Eight months ago, our beautiful baby daughter Ariella was born. Now every morning my wife and I play with her, get her ready and drop her off. I try to schedule as many morning coffee meetings as I possibly can, between 7:45 a.m. and 9:30 a.m. The family time followed by a quality conversation over coffee gets me going. The majority of the early morning meetings are business meetings, but I tend to know the people on a personal level too, so they contain a healthy combination of work and general life talks.
What’s your best financial or cash-flow related tip for entrepreneurs just getting started?
Double whatever you think an initiative is going to cost. Better yet, triple it.
Quick: What’s ONE thing you recommend ALL aspiring or current entrepreneurs do right now to take their biz to the next level?
Get a mentor.
What’s your definition of success? How will you know when you’ve finally “succeeded” in your business?
Creating a self-sustaining and growing business that does something meaningful (other than making more money) is what makes you successful. When I come in and things are rolling along and growing without my absolute need to intervene, I feel like I have succeeded.
