When Justin Stephens joined me on the “Never Been Promoted” podcast, I knew we were in for a great discussion. The founder of America’s Holding Company, he has a unique take on entrepreneurship, focusing heavily on the value of time and the importance of building a resilient, value-driven team. As we spoke, I found myself deeply engaged in his story and the lessons he’s learned. Here’s a recap of our conversation, highlighting two key points that stood out to me and the lessons I believe any entrepreneur can take away.
1. The True Value of Time
One of the first things he talked about was his belief that time is the most valuable asset an entrepreneur has. He pointed out that while we often focus on making money or growing our businesses, we forget that time is the one resource we can never get back.
He explained his philosophy with a great example: “We’re all time travelers,” he said, “but it’s up to us how we use that time.” That hit me. I realized how often I’ve been guilty of getting caught up in the grind, always looking ahead to the next big milestone but not really thinking about how I’m using my time today.
Key Takeaways from Our Discussion:
- Prioritize Time Over Money: He emphasized that while money can come and go, time is finite. He suggested that entrepreneurs need to be strategic about how they spend their time, making sure every hour is moving them closer to their long-term goals. This made me think about my own priorities—am I spending my time on the things that matter most?
- Have a Long-Term Vision: He talked about the importance of having a clear vision of where you want to be in the future. He said, “Think about where you want to be at 75.” That got me reflecting. I often focus on what’s right in front of me—this quarter, this year—but rarely do I think decades down the line. His point was clear: if you don’t know where you’re going, how can you make sure you’re on the right path?
- Balance the Now and the Future: He also shared his thoughts on balancing immediate work with long-term fulfillment. He pointed out that while it’s important to work hard and build something meaningful, it’s just as important to enjoy life along the way. That was a great reminder to me to make sure I’m not just working towards future goals but also taking time to enjoy the present.
2. Building a Strong, Value-Driven Team
The second big point he made was about the importance of building a strong, cohesive team. He believes that the people you work with are the most important asset in any business. “The value of any asset is the people on that team,” he told me, and I couldn’t agree more.
He shared some of his experiences, including a tough lesson he learned early on when he didn’t secure a proper contract in a business deal. He was candid about the mistake, acknowledging that it cost him, but also taught him the importance of clear agreements and strong communication. “People are your most important asset,” he said, “but you have to be clear about roles, expectations, and what everyone stands to gain.”
What I Learned from His Experience:
- Invest in Your People: His approach to team building is all about creating a culture where everyone feels valued and part of a shared mission. He talked about how he implemented a model at America’s Holding Company that gives employees a sense of ownership in the company. This wasn’t just about compensation; it was about making sure everyone felt invested in the company’s success. It made me think about how I could foster more ownership and alignment in my own team.
- The Importance of Clear Agreements: His story about the partnership that fell through due to a lack of written agreements was a stark reminder of the importance of clarity and communication in business. It’s easy to assume things will work out, but without clear agreements, misunderstandings can happen, and trust can be broken. I realized I need to be more diligent about this in my own business dealings.
- Learn from Mistakes and Be Adaptable: One thing I admired about him was his ability to learn from his mistakes and adapt. He didn’t dwell on the negative but instead took each setback as an opportunity to learn and grow. That’s a mindset I want to cultivate more—viewing challenges as chances to learn rather than just obstacles to overcome.
3. Reflections from the Interview
My conversation with him was more than just another interview; it was a learning experience. I found myself reflecting on how I spend my time and how I manage my team. His emphasis on treating time as an asset and investing in people made me rethink some of my own strategies.
Here’s What I’m Taking Away:
- Value Time Above All: I need to be more intentional about how I use my time, making sure it aligns with my long-term vision.
- Build a Strong Team Culture: Creating a sense of ownership and alignment within my team is crucial for long-term success.
- Be Prepared and Clear in Agreements: Ensuring all business dealings are backed by clear, written agreements is essential for building trust and avoiding misunderstandings.
- Learn and Adapt Continuously: Every failure or setback is an opportunity to learn and improve. I need to be more open to adapting and changing course when necessary.
- Balance Work and Life: It’s important to enjoy the journey, not just the destination. Making time for personal fulfillment is just as important as achieving business goals.
Final Thoughts
Interviewing Justin Stephens was a refreshing experience that left me with a lot to think about. His insights on time management and team building are lessons I’m eager to apply in my own life and work. I hope other entrepreneurs listening to this episode also find value in his approach and are inspired to think differently about their own journeys. After all, entrepreneurship is not just about building a business; it’s about building a life that’s worth living.
Catch Justin Stephen’s full podcast episode: Relationships Over Riches: Building a Company That Puts People First
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