Entrepreneurs Ethan Nyholm and Adina Jacobs launched STM in 1998, becoming an industry leader in the creation of laptop bags, packs, fitted cases and other accessories designed to safeguard tech devices, stylishly. Today, STM Brands is the parent company of two global brands designing lifestyle accessories for tech devices—STM Goods and Element Case.
Entrepreneurial Role Models:
Non-Specific
When business started difficulties overcame:
“the hurdles for starting it were relatively small… I think both of us started it at a time in our lives where it was relatively risk-free (we had nothing to lose). The financial investment that we initially made was relatively small we are talking the order of was $7000 each Adina?”…[Listen for More]
Favourite Books:
Dune Book by Frank HerbertFavourite Quote:
- “the only thing to fear is fear itself”
- “the only way through is through”
Recommended Online Resources:
- Google LLC is an American multinational technology company that specializes in Internet-related services and products, which include online advertising technologies, search engine, cloud computing, software, and hardware.
- How I Built This
Best Advice to Other Entrepreneurs:
“my best advice for someone who is just starting out its cash is king. Is that at the beginning if you can pay your suppliers, if you can pay the people that you are working for or if you can pay yourself you will stay in business… Upstage that changes a little bit but at the beginning, the first 3 to 5 years that cash is king. How much money, how many zeros how much money you have in that bank account is the most important thing so you can continue to operate”…[Listen for More]
More About Ethan Nyholm and Adina Jacobs:
- STM Brands
- Standard Technical Merchandise Pty
Neil’s Quote at the Beginning:
“If you work just for money, you’ll never make it, but if you love what you’re doing and you always put the customer first, success will be yours.” Ray Kroc
Other Quotes From the Chat with Ethan Nyholm and Adina Jacobs:
- “I think the biggest thing from an entrepreneur’s perspective is making a decision”
- “as an entrepreneur you have to make a call. You don’t exist in an environment that you have perfect information and have to base the calls to some degree on intuition and the best information that you have. Often, it’s… One of the lessons I’ve learned it’s not necessarily the decision it’s about the execution of the decision. I prefer a bad decision executed well than a good decision executed poorly… Or even worse no decision at all”
- “I think if you stop learning and stop growing and are not able to manage that change then you won’t be successful as an entrepreneur… I think that that idea of how do we do this rather than can it be done or can’t it be done… It’s all about the types of questions you ask yourself… And the willingness to self-assess”
- “you can be afraid; you cannot let that fear stop you. Being afraid is okay, letting that fear control you isn’t”
- “you need to be able to figure out what’s rubbish and what’s credible and for that I often turn to other people who have been in similar situations to me and I rely on the resources that they recommend and that they have found useful”
- “it doesn’t matter if it’s hard it doesn’t matter of it’s easy the only way to get to the other side and to get to where you are going is by going through whatever you need to go through to get there. And so even if you are afraid to go through it you just keep pushing and keep moving”
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