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Home » Rance Crain’s Rules for the Successful Entrepreneur – ADWKDC 2016 Opening Keynote

Rance Crain’s Rules for the Successful Entrepreneur – ADWKDC 2016 Opening Keynote

by | Oct 25, 2016

Rance Crain at ADWKDC 2016

By Cary Hatch, CEO, MDB Communications

The legendary president and editorial director of Crain Communications and Editor in Chief of Ad Age captivated attendees at ADWKDC’s opening session this year.  The Crain empire is celebrating 100 years in business as a family-owned company; quite remarkable in today’s world.  Rance Crain shared his early beginnings with Ad Age as a cub reporter and his sage insights over his 50-year history with this storied company.  He went on to punctuate the importance of entrepreneurial spirit as the key ingredient to building a century of publishing success.  His top 10 “Rules for Successful Entrepreneurs” follow:

  1. Timing – it has to the right time to advance your idea or company
  2. Distinct point of view – your POV or offering must be unique
  3. Enthusiasm – it’s mandatory
  4. Be lucky – enough said
  5. Be confident – if you don’t believe who else will?
  6. Trust – trust your people and show respect
  7. Be opportunistic – seek and recognize opportunities
  8. Be optimistic- see the possibilities,  less the hardships
  9. Make a nice place to work – this is key to your employees
  10. Have fun – it matters

Of the ten rules, Rance pointed to numbers 3 and 9; enthusiasm and providing a nice place to work as the most important in building a successful organization.

Additional industry observations included his recognition of customer fatigue with cyber stalking (retargeting) and the palpable “low ebb” of client-agency relationships and the apparent abandonment of brand building over time.

The lasting inspiration and wisdom of Rance Crain’s remarks energized the attendees who were fortunate enough to hear him. We were so fortunate to have such a remarkable industry icon address the 13th annual ADWKDC.

(Photo:  Cary Hatch, CEO, MDB Communications, a Capitol Communicator sponsor, and Rance Crain)

 

 

About the Author

MDB Communications

Sponsor: MDB Communications is a full-service, media-neutral agency that's powered by experienced leaders and innovators. As an independent agency with the drive and determination to help our clients succeed, we're also able to chart our own course for success and make decisions that are always in our clients' best interests. From brand development to media planning, creative execution to public relations, we deliver solid thinking, airtight strategy, messaging that motivates and the metrics to prove it.MDB top executives carry demonstrable credentials shaping strategy, positioning and creative for major brands. Clients such as Sprint, the American Bankers Association, National Geographic, Destination DC, DC Lottery, Fannie Mae, the United States Mint, and the International Spy Museum have discovered that MDB delivers a solid return on their investment.

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