6 Tips for Success in Business from Entrepreneur Davyeon Ross
Entrepreneur and ShotTracker co-founder Davyeon Ross met with the CommunityAmerica Teen Advisory Board on June 13 to share his experience with entrepreneurship.
ShotTracker is a sensor-based system that provides coaches, fans and broadcast networks with university sports statistics and analytics in real-time, making it one-of-a-kind in their market. The University of Kansas and the University of Kentucky are among the top Division I basketball programs that utilize this revolutionary app.
Here are the six tips Davyeon shared with the Teen Advisory Board.
1. Listen to the market.
The key idea behind entrepreneurship is selling a solution, not a product, Ross said. Therefore, the object you create must be usable and relevant. Ross said it is vital to “listen to the market” because ultimately consumers determine success. Often in businesses, Ross said, companies will create a product they think is genius, but it fails when customer needs are not met.
2. Fill your business with hardworking, smart people.
“It takes a village,” Ross said. “Put hardworking, smart people around you.” A key aspect of being a leader is surrounding yourself with more qualified, creative and inquisitive people. Having a strong support system can only benefit the company, Ross emphasized.
3. Shoot your shot, even if you fail.
“If you don’t shoot, you don’t score,” Ross said. “At least if you got a shot, you have a possibility to score.” Ross stressed the importance of exploring new ideas, even if they seem futile. Next, Ross said you need to discuss your idea with others, because collaboration will improve your original ideas. Doing this allowed ShotTracker to invent a recharging station for sensors fitted inside basketballs.
4. The path of an entrepreneur is constantly changing.
Ross said it is vital not only for the product, but for the entrepreneur to be adaptable. Even if you think your product is the next billion dollar “it” thing, just hours later you will be “ready to sell your company,” Ross said. “It’s an emotional rollercoaster,” Ross said. “You got to have ‘the grit.’”
5. Nothing innovative happens in your comfort zone.
Ross said every day he tries to put himself into uncomfortable situations, whether it be reaching out to another company or venturing a new idea. More importantly, Ross said, failure is unpleasant, but it is through adversity that determines who thrives or dies. Ross said he didn’t let his setbacks stop him; instead he used them to empower him.
This resonated with CommunityAmerica Teen Advisory Board member and hopeful entrepreneur Adam Sweat. “I just really liked the idea that when you are sitting in a place that might seem comfortable and logical, you’re not really going to get where you want to be.”
6. It is OK to say no.
Ross said there have been numerous opportunities to expand the ShotTracker technology outside of college basketball, such as working with the NHL and international basketball teams. Though Ross said it was “tempting” to follow suit on these opportunities, he said ShotTracker had to turn these down because it is important for the company to focus on dominating college basketball before expanding. “It is hard to do everything for everyone,” Ross said. Spreading yourself too thin will hurt your business in the long run, Ross said, so be picky with your time and resources.