4 Powerful Lessons That Can Be Learned From An Entrepreneur Who Appears to "Get It"

How many people in their mid-thirties can boast that they have created a company that now has more than three million customers? Not many!

Inc Magazine did a great write-up about the founder of 37Signals, Jason Fried, in its November 2009 issue. According to the article, "We rarely have meetings. I hate them. They're a huge waste of time," what started as a Web design firm is now a booming company serving three million customers—and with only 16 employees. It's pretty obvious that Fried has learned what it takes to keep a business thriving.

Here are some great business lessons you can learn from this entrepreneur:

LESSON 1: Keep Things Simple
With Fried, simplicity is held in high regard. He spends a good amount of his day thinking about how to simplify things for his customers. That’s why he created programs such as “Basecamp,” “Ta-Da,” “Backpack,” and “Writeboard.” He knows that less complicated is always the better way to go. Fried has always aimed to keep his company’s products simple, bringing in new users and keeping his current clientele satisfied. He even keeps business plans simple. Long-term plans and decisions are difficult to make and usually wrong, so Fried avoids making things complex.

LESSON 2: Staying Efficient is Crucial
Efficiency is something highly valued by Fried. While many businesses stack meetings and requirements on their employees, Fried finds that real productivity surfaces when his employees don’t have to be constrained by unnecessary structure. He doesn’t keep track of how many hours his employees work; he only knows that the job gets done—and it gets done very well. Also, meetings are a waste of time to Fried. They take valuable time away from his employees. Instead, the company uses a chat tool to talk about things that need to be addressed—“Campfire.” It can be used at any time without disturbing anyone’s work.

LESSON 3: Take Responsibility
Many businesses make excuses when customers complain about shortcomings, but not Fried’s company. He prides his business on honesty and being able to take responsibility. If a customer makes a complaint, Fried has no problem admitting fault if something goes wrong. He makes sure to stay on top of issues that arise so he knows how to serve his customers. Anyone can trust a business that stands on honesty and taking responsibility for deficiencies.

LESSON 4: Define What Success Means to You
Fried knows success. He still values success in terms of profit. Many Internet businesses are only concerned with how many users, followers, and friends they have. Fried recognizes that those things are not what good business is built upon. 37Signals stands on doing business right and gaining profit, not just simply winning some popularity contest. The employees at the company work together to make sure customers are satisfied. Fried understands that if customers are satisfied, they will keep coming back.

Jason Fried appears to have figured it out and a lot can be learned from his success.