For Darrell Heaps, CEO of Toronto-based Q4, having a “hustle and grind” mentality is crucial to growing a startup.
At the latest FinTechTO, Heaps talked about what that actually means for Q4, and why taking risks and moving quickly are critical to growing any company.
Heap said hustle is when entrepreneurs move quickly and use their time efficiently, even when they donât have all the information they need.
âFor me, hustle is rooted in the one simple fact that thereâs only a limited amount of time that you have,â said Heaps. âTime is the only finite resource that we have in building a company, and every moment that you spend doing whatever it is that you prioritize, youâre never getting that back.â
“Make those decisions. Put yourself out there. Take risks, but do it quickly.”
Heaps pointed to his early days at Q4 when he would spend more time fighting with the co-founder and debating frequently when it came to making important decisions, noting that these issues âsuck up time and suck up your opportunity.â
Reflecting on these experiences, Heaps said that in order to grow and scale a company, founders and their teams need to be more decisive, make decisions more quickly, and really sell their businesses.
âWhen I think about hustle early on and even today, itâs about closing a business,â said Heaps. âYou need to be the guy or woman who gets on the phone and gets the deal done. Make those decisions. Put yourself out there. Take risks, but do it quickly.â
In his presentation, Heapsâ also noted that hustle doesnât work without grind â two key words that he says are posted on the walls inside Q4âs office.
âBeing an entrepreneur and starting a business is not easy and it does not get easier.â
âThe idea of grind and owning that is really important in growing as well,â said Heaps, adding that it takes both hard and smart work to grow a company. âYou can have a great idea and move it forwardâŠbut if youâre not willing to put the work in, itâs not going to workâŠYou have to be really committed to the grind. You have to continue working at it. Things donât happen overnight.â
Heaps also stressed that while people move things forward and companies grow, it doesnât always mean the work gets easier. âMaintaining those growth rates becomes increasingly more difficult going into this,â said Heaps. âYou have to accept the fact that being an entrepreneur and starting a business is not easy and it does not get easier.â
Q4 provides a communication and intelligence solutions platform for investment relations. Heap said the company, which raised a $22 million Series B round in May 2016, has grown to about 200 people across offices in Toronto, New York, and London, and has around 1,000 clients.
Watch the full presentation below:
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