Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Ian Staley, Founder of Socratic Consultancy, LLC., located in Mesa, AZ, USA.
What's your business, and who are your customers?
My business is in the Management Consulting sector with a niche focus on the web3 space. My customers are primarily early-stage crypto and blockchain startups, though I do consult enterprise-level clients like Wells Fargo. I consult 20+ companies under my single member LLC.
Tell us about yourself
Inspired by my late mentor, Dr. G.L. Forward, a Professor of Managerial and Organizational Communication at Point Loma Nazarene University and Management Consultant, I developed a passion for helping people through consultation. As Dr. Forward used to say, "The best leaders make leaders of those around them." So in January 2021, keeping this spirit of thought alive, I launched Socratic Consultancy to transform my passion into my obligation.
I am the CEO and Founder of Socratic Consultancy and a Principal Engineer at Wells Fargo. I leverage nearly a decade of leadership experience in SaaS transaction management in the US Real Estate Closing Industry by working with Fortune 500 firms like First American Title Insurance and Fidelity National Title Insurance. I secured the first major blockchain deal in the US Title and Escrow Industry. I leverage 5+ years of experience directing, advising, consulting, and partnering with innovative blockchain and crypto projects.
I am a current and past member of many blockchain trade associations that promote public-private partnerships and guide the adoption of blockchain technology. I am currently pursuing my Doctor in Business Administration and am a partner to a vast web3 investor network.
What motivates me the most in my day-to-day is supporting my clients by being that anchor that holds it down for them in their times of need. Also, being that coach that drives them to succeed and develop not only professionally but in their personal lives too.
What's your biggest accomplishment as a business owner?
I think my biggest accomplishment thus far as a business owner is a fact that I am building something that is developing at such a rapid rate from the ground up when most people (even my inner circle) call me crazy. I count my blessings every day that I have this opportunity to seize and try my best to build block by block until one day soon, I look up and see the empire I have built, sourced from a single thought and action.
What's one of the hardest things that come with being a business owner?
There is not enough time in the day. When you are scaling a business, learning how to view and leverage your time as a scarce commodity is key. Delegation is critical within teams. Knowing what opportunities are worth exploring and which ones are not is also vital. Learning from mistakes and making reiterations to ensure systems, processes, and logic are updated to become more efficient the next time around is also extremely important.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Just - Do - It
There is never a "perfect" time for anything. Just do it. Have an open mind and be willing to be flexible, and be willing to pivot until you have found your sweet spot.
Build a trusted network of team members, advisors, mentors, partners, etc., and lean on them. Learn how to trust them as your life depends on them. And if someone betrays your trust, learn from it and let it go, do not carry the burden, and just do not repeat the same mistake in the future.
Ensure you have enough financial stability to support yourself as you build your startup. There is no shame in keeping your day job while you build your dream job, up until your dream job becomes your day job.
Is there anything else you'd like to share?
Thank you so much for the opportunity to share my story with other business owners and soon-to-be entrepreneurs. I hope that my message resonates with at least one person out there and makes a positive impact on their life! Regarding getting in touch with me, please feel free to connect with me on LinkedIn - that is my primary social media network.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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