What does it take for a successful startup? Serial entrepreneur Mike Rhodes shares six strategies

Filed under Management, News

Mike Rhodes, founder of SYNC Technology Center in Chicago. Photo courtesy of Susan Barahia/BNC

Speaking before the Business Network Chicago’s Entrepreneur Group Tuesday evening, SYNC Technology Center founder Mike Rhodes shared six strategies for success: passion, professionalism, willingness to connect, acceptance of change, persistence and having business goals that help others.

Perhaps most importantly, businesses need to be flexible enough to change. “There’s nothing wrong with regrouping and revamping your business plan,” said Rhodes, who successfully grew two Internet-based companies: Myabui.com and Freedrive.com. Myabui, an online micro-blogging platform, won the “Cisco Startup of the Year” award for social media in 2009, while FreeDrive, which provides online data storage, drew 20 million subscribers in 18 months before ultimately being acquired, according to a release by SYNC.

Change shouldn’t sidetrack a business, Rhodes said. “Change it in a heartbeat, but keep going for it,” he said.

— Hallie Busta

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