There's no one "right" way to lead a business. Today's leaders have a lot of wisdom to impart about managing the modern workforce because each one approaches leadership in his or her own unique way. Every week, Business News Daily will share a leadership lesson from a successful business owner or executive.
- The leader: Chuck Cohn, founder and CEO of Varsity Tutors
- Time in current position: 9 years
- Chuck's philosophy: "Leaders are relentless in keeping the organization focused and seeking out new perspectives to challenge their perceptions." (Click to tweet)
Throughout my career I've consistently taken data and metrics into consideration. When I think about it, I probably should have quit my venture capital job two years earlier to focus on scaling Varsity Tutors, but didn't because I feared failure. It's something most entrepreneurs and business owners experience throughout their careers and I convinced myself there was more risk at hand than the data and metrics indicated.
Metrics can be indicative of things working really well, or something being very wrong. In all cases, there is an explanation, and trusting data has helped ensure that Varsity Tutors builds better products, diagnoses and fixes management issues faster, and constantly evolves and improves.
Whether you're launching a small startup or a product for an already established company, the fear of not being successful is always in the back of your mind. That said, I think part of being an entrepreneur is taking calculated risks that others wouldn't take, but that you're willing to because you better understand the facts and opportunity.
Edited for length and clarity by Jennifer Post.