Pete Jones is the owner and president of Electrical Marketing Solutions (EMS), a Salt Lake City-based company that markets electrical products to companies worldwide. A Texas native who grew up in Lubbock, Pete is a graduate of Texas A&M University, earning his undergraduate degree in engineering. Before joining EMS in 2000, he began his career with the electrical product manufacturer Thomas & Betts, and he brings decades of experience to his current position, leading his company to new growth each year.
Take a Chance
If you believe in your idea, go for it! Pete became the owner of EMS at 26 years old, when the previous owner took him under his wing. He took a big financial chance on buying a company, but he saw the potential for growth and took some advice from a friend to take a chance on EMS. That advice? “You can’t make a bad business decision under the age of 30. You can always recover from it.” And taking that chance has paid off. Fifteen years later, EMS has more than six times its original number of employees and continues its financial growth year to year. Taking a chance on your dream is worth it.
Bring In the Experts
Trying to do everything yourself in business can bog you down and slow your progress. Pete’s advice is to lean on and hire experts in their fields to cover your bases. “I believe strongly in bringing in experts to help build your business,” Pete says. “Get legal counsel, bring in consultants. It’s worth it,” Pete says. He sees many entrepreneurs that have passion for their ideas but don’t realize the intricacies that come with owning a business. You may make a terrific product or offer an amazing service, but you’ll need help creating a website or crafting a story to market it, implementing OSHA compliant policies, creating contracts and more. Bring in or outsource to experts to help you with the areas your knowledge is weaker to keep your business strong.
Measure with Rigor and Regularity
For Pete, growth in your company is going to come from you paying attention to what’s working and what’s not working so you can quickly shift gears if needed. He advises measuring overall company goals, employee efforts and more to keep your finger on the pulse and take action as needed. “One of my favorite quotes is, ‘anything you measure with rigor and regularity improves’,” Pete says. So he regularly conducts surveys for customer satisfaction, holds one-on-ones with employees and more in order to keep a close eye on how things are going–and keep things improving.