Steve Streit and the Power of Perseverance — 6 Lessons for Life & Business

Steve Streit and the Power of Perseverance — 6 Lessons for Life & Business
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Big dreams often confront the harsh realities of the business world.

For most, this can be daunting, but not for successful entrepreneurs like Steve Streit, who has shifted from founding roles to focusing on a mix of philanthropy and early-stage venture investments in fintech companies like Gusto, Scratch, and Greenlight Financial. His experience provides inspiration and caution for those aspiring to emulate his success.

Streit is also known for his strategic investments and for being an entrepreneur. As a seasoned investor, he has nurtured several startups into successful enterprises, emphasizing the importance of perseverance in his approach to business.

If we could sum up his business philosophy, “perseverance” would be the word. From Streit’s viewpoint and other business leaders, here are key lessons for success.

Keep Right At It

Successful entrepreneurs tend to have “drive.” For some, this shows up as a simplistic thirst for profit or fame, but for most, it’s more complicated and inspiring.

“Entrepreneurship is about solving problems, not fame or money,” says Ashton Kutcher, who came up as a film and TV star before going into business. Kutcher is typical of “solutions-minded” entrepreneurs who found companies to make life better for others, not just themselves.

Surround Yourself With Trusted Advisors

No one does it alone. If someone tells you they’re solely responsible for their own success, that usually means they don’t understand how the world works.

Even infamously independent entrepreneurs like Elon Musk and Richard Branson surround themselves with people they trust. At least some of these people are on the payroll, but others are friends, loved ones, and mentors who aren’t afraid to tell it like it is.

Great entrepreneurs use those around them as sounding boards and sources of advice. They often consult them before making important (or trivial) decisions, and sometimes, those conversations make them reconsider their decisions.

Take Feedback — And Use It

Why surround yourself with people you trust if you won’t take their advice? That doesn’t make much sense unless they’re only there for show, to convince shareholders and customers that you take advice when it’s given.

Unfortunately, taking advice, let alone constructive criticism, is challenging for some entrepreneurs. No one likes to be told that they’ve made a mistake, that their ideas are off base, and that they should stop and think before proceeding. 

To evolve your leadership from merely good to truly great, you must learn how to take feedback if it doesn’t come naturally. Otherwise, you’ll not quite live up to your potential — and maybe not quite sure why. 

Don’t Be Afraid to Ask For Help

This is another vital skill that doesn’t come naturally to some entrepreneurs. It goes back to the sense some have that they’re solely responsible for their success.

Even if asking for help feels uncomfortable to you, rest assured that you’ll be stronger for it. You can’t afford to in high-stakes business situations, where a single misstep can snowball into a major strategic blunder.

Think Before You Act (When Appropriate)

One advantage of asking for help is that it gives you time to confirm that you’re making the right decision based on the information at hand. 

Don’t think of this as a license to hesitate. Entrepreneurs know better than anyone and that time is often of the essence. When even a short delay could cost you, you must act fast.

On the other hand, strategic decisions tend to demand more reflection. Gathering input from the people you trust and weighing the pros and cons of each possible course of action could pay off in the long run.

Do What You Say You Will

Finally, do what you say you will when you say you’ll do it.

If this isn’t the one true Golden Rule of Business, it’s close to it. Doing what you say will mean keeping your word, which is still the best way to get ahead.

If At First You Don’t Succeed…

Perseverance means more than repeated attempts; it involves reassessing and understanding setbacks to refine strategies and come back stronger.

The ultimate lesson from Steve Streit’s career is the relentless pursuit of goals, adapting and advancing despite challenges. His journey illustrates that true perseverance, a clear vision, and effective support pave the way for lasting success.

Published by: Holy Minoza

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