6 principles for entrepreneurial success: A guide to adapting and thriving in business

In the dynamic world of entrepreneurship, the ability to adapt and thrive is what you need right now in uncertain times.

I’m Jack Parsons, CEO of Superhand. I want to share my journey and unveil the six principles that propelled me to success with Superhand (Formally known as Youth Group) which has become one of the UK’s largest communities, enabling millions of young people to access jobs, skills and mentors via our opportunity platform.

Over the past 6 years, I’ve embarked on two entrepreneurial ventures, kicking off my first at the age of 20.

This journey has been a rollercoaster, filled with setbacks, challenging times, modest successes, and monumental triumphs, which is precisely why I cherish the entrepreneurial path.

Each year has offered valuable lessons, shaping my 6 guiding principles that have been instrumental in developing a multi-million-pound business with a significant impact throughout the UK.

I share these in the hope they will benefit you as well.

Principle 1: Always think about the 1%

In the world of business, it’s easy to get overwhelmed by the sheer volume of tasks and goals. You get the shiny object syndrome wanting to create and do more.

However, at Superhand, we understand the power of focusing on the 1%—the small, incremental improvements that can lead to significant advancements over time.

By constantly striving for marginal gains in every aspect of their business, entrepreneurs can push the boundaries of excellence and stay ahead of the competition.

For instance, we host a podcast named “My Duvet Flip,” which has attracted millions of listeners and notable guests, including the Prime Minister of the UK and leading CEOs from public limited companies.

Whenever a guest came to record an episode, they often brought along a companion. However, we found ourselves without additional seating for these companions.

After wrapping up one such episode, we realised the necessity of having companions chairs available, so the guests’ PR teams could be comfortably seated. This adjustment marked a 1% improvement in our guest experience.

The next challenge we encountered was rooted in British etiquette, which encourages not to inconvenience others.

As a result, when we offered drinks to our guests from a hidden stash in the cupboard, they would politely decline, not wishing to trouble us.

To address this, we decided to display all beverages—coffee, tea, and juices—openly for the next recording. Since making this change, no guest has declined a drink. This was another 1% enhancement.

You might wonder what these minor adjustments have to do with podcasting or business operations. These incremental improvements significantly enhanced our guests’ experience, leading to more genuine and engaging performances on camera.

This, in turn, has contributed to the authentic growth of our brand, all thanks to several small changes over time. Think of the 1% as your secret weapon against stagnation.

It’s the philosophy that encourages you to question every process, seeking ways to enhance efficiency, customer experience, and overall performance.

This mindset fosters a culture of continuous improvement, where every team member is empowered to contribute their ideas for that extra 1% edge.

It’s a commitment to ongoing refinement, recognising that even the smallest positive changes can have a cascading impact on your business’s overall success.

So, as you navigate the complexities of entrepreneurship, remember to pay attention to the details, for therein lies the true power of the 1% and step by step.

Principle 2: Embrace Boldness in Every Endeavor

Entrepreneurship is inherently fraught with risk, yet it is those who have the courage to be daring that often enjoy the most substantial rewards, all the while having a great deal of fun and making a significant impact.

For my second venture, the one I currently manage, Superhand, we decided against accepting investment from financiers and chose instead to bootstrap through revenue.

This was a courageous decision, particularly as we were offered £1 million from a previous investor in another venture, but we declined, choosing to start and grow Superhand without relying on external funds.

There have been moments when it’s felt challenging to consider where the next funding for the company will come from (wouldn’t it just be easier to raise capital?), but it’s crucial to question whether relinquishing equity and involving external parties is genuinely in your business’ best interest, or if the focus should instead be on delivering a product or service to the market that people want to purchase.

I’m not inherently opposed to raising funds for a business, but I believe that the landscape for startup investment is evolving, and now is the opportune moment to embrace boldness.

Boldness necessitates a mindset that views challenges as opportunities and obstacles as invitations to innovate.

Beyond the decision not to seek investment, another daring move we made as of March 2024, was the rebranding of Youth Group to Superhand.

This transition underscores Superhand’s dedication to evolution and adaptability within the ever-changing digital arena.

Embracing boldness isn’t about making reckless decisions; rather, it represents a measured bravery that challenges conventional wisdom and paves the way for new opportunities.

This was audacious because we spent 3 years building a reputation under one name only to completely overhaul it.

To embrace boldness is to have the fortitude to disrupt industries, question the established order, and chase after visionary ideas that others might deem unrealistic or overly ambitious.

It’s about thinking creatively, taking calculated risks, and extending the limits of what’s achievable.

Principle 3: Embrace Challenges and Push Forward

No entrepreneurial journey is without its challenges, but it’s how we respond to those challenges that ultimately determines our success.

Being raised in a single-parent household with a mother who was an alcoholic I found it tough growing up.

I had a lot of setbacks and a lot of no’s entering the world of work so this made me decide to do something about it and have committed my twenties to enabling young people to thrive.

In the face of adversity, facing challenges involves maintaining a positive mindset that views setbacks as temporary and navigable. It’s about seeing the silver lining in difficulties and recognising that each challenge presents an opportunity for improvement.

Successful entrepreneurs understand that the journey is not about avoiding challenges but about conquering them.

Principle 4: From Having all the Answers to Asking the Right Questions

In today’s fast-paced business environment, the ability to adapt and innovate is essential for staying ahead of the curve.

Successful entrepreneurs understand the importance of asking the right questions and staying curious about their customers’ evolving needs, market trends, and emerging technologies.

By adopting a mindset of inquiry over certainty, entrepreneurs can uncover new opportunities, identify potential challenges, and make informed decisions that drive their business forward.

The shift from having answers to asking the right questions signifies a profound change in the approach to problem-solving and decision-making.

Instead of relying solely on preconceived solutions, successful entrepreneurs recognise the value of exploring uncharted territories through thoughtful inquiry.

This principle is about cultivating a mindset that seeks to understand the nuances of the ever-evolving business landscape.

Asking the right questions involves a keen sense of curiosity and a genuine interest in understanding the intricacies of your industry, customer base, and the broader market.

It requires entrepreneurs to challenge assumptions, explore possibilities, and actively engage with the evolving dynamics of their business environment.

The goal is not just to find solutions but to unearth insights that can shape the trajectory of their business.

Principle 5: Focus on One Course Until Successful

With so many opportunities and distractions vying for our attention, maintaining focus is crucial for success in entrepreneurship.

Successful entrepreneurs understand the importance of prioritising their time and resources and dedicating them to their most promising ventures or strategies.

By focusing on one course until successful, entrepreneurs can avoid diluting their efforts across multiple initiatives and increase their chances of achieving their goals.

This principle acknowledges that success in entrepreneurship often requires depth rather than breadth. Superhand is a non-profit that falls under this new venture.

The aim is the creation of a community of 2 million young people, connecting 400,000 of them with work experiences. This would be accomplished by means of mentorship programmes, internships, and apprenticeships, amongst others.

By concentrating efforts on a singular objective, entrepreneurs can delve into the intricacies of their chosen path, identify areas for improvement, and iteratively refine their approach.

Principle 6: Embrace the MEE Methodology

The MEE methodology—Mindfulness, Engagement, Empowerment—is a powerful framework for success in entrepreneurship.

Mindfulness involves being present and aware in every aspect of your business, from decision-making to interactions with customers and employees.

Engagement means deeply understanding your customers’ needs and motivations and creating meaningful connections with them.

Empowerment involves delegating authority and encouraging autonomy within your team, fostering a culture of innovation, collaboration, and growth.

In practical terms, the MEE methodology functions as an interconnected system, where each pillar reinforces the others.

Mindfulness heightens an entrepreneur’s ability to engage meaningfully with customers and employees, while engagement provides insights that inform mindful decision-making.

Empowerment, in turn, strengthens the fabric of engagement by fostering a collaborative and innovative team culture, all in line with Superhand’s ethos.

Entrepreneurs embracing the MEE methodology embark on a journey that extends beyond conventional business practices. It represents a commitment to ethical leadership, customer-centric strategies, and a team-oriented approach to innovation.

By integrating mindfulness, engagement, and empowerment into their entrepreneurial endeavours, individuals can create businesses that not only thrive in the present but also contribute positively to the evolving landscape of commerce.

Conclusion

In conclusion, these 6 principles serve as a roadmap for entrepreneurs ready to embark on a transformative journey.

As someone who grew up facing challenges and setbacks, I founded Superhand to empower young people and create opportunities.

Our focus on youth employment, mental health, and diversity has garnered recognition and awards, but more importantly, it has made a positive impact on countless lives.

Now, as you navigate your entrepreneurial journey, remember these principles and strive to adapt, thrive, and evolve.

Are you ready to make a difference?