Industry experience is an invaluable asset for anyone getting started on their entrepreneurial journey. And when you can learn from the experiences of other stalwarts and add them to your lessons, it makes things a lot easier. As the owner of multiple automobile dealerships across Arizona and New Mexico and a name of repute in the dealership industry, Chaz Rodney Hatch has several essential lessons to pass on to those who wish to learn. Here, he shares some of his critical insights about the industry and entrepreneurial growth in an exclusive interview.
Q. Welcome, Mr. Hatch. As a pioneer in the business world, what would be your first advice to someone getting started on their entrepreneurial journey?
A. My first advice to anybody entering the business world would be always to build their business around their passion. When you know what you want to do in life, you set up steps that will eventually lead you there. So, choose your passion early, and commit to it. Your plan may take several years to find fruition, but when you know you are working towards it every day, you will live a great life all the way.
You can never stop learning in the business world. I learn from my customers, my industry peers, my employees, and even random strangers I happen to strike a conversation with. And this has helped me learn numerous many things in life and business. With the urge to learn at all times and from everyone, you will gain valuable lessons and that too for free!
Q. What is the role of failures in an entrepreneur’s life?
A. Failures are nothing but lessons in disguise. People often give up when they fail a few times, but what they really need to do is to learn from those failures and move forward. Failures provide insights that smooth-sailing can never teach you. So, treat them as lessons to do things right the next time around and not as a sign to stop.
Q. What is one essential skill every aspiring entrepreneur should have?
A. The skill of effective communication, networking, and building relationships. I have two teams working for me at all times—the first is my business team, and the second is my professional network that keeps working for me even outside my business hours. A reliable team in-house and a committed professional network outside make for a winning combination.
Q. Any parting words for our readers?
A. Never forget, hard work always pays off at the end of the day. It doesn’t matter what the challenges are or how difficult they are to overcome; you are bound to win when you work hard and have the grit to see things through. Nothing works better than the combination of hard work and determination. This duo will drive you towards a win irrespective of the circumstances.
Heading an award-winning business empire today, Chaz Rodney Hatch knows well how vital industry experience can be for an entrepreneur. Representing the third generation of his family in business, these valuable insights from Chaz are sure to help you set up the right strategies for your entrepreneurial growth.