The first major lesson from Barry Nalls’ entrepreneurial successes is that successful organizations are not in the business of offering products or solutions to their customers but a solution to a problem or a need. Instead of creating a product and service first and hoping the market will accept it, Nalls looked at the challenges faced by enterprises and realized that the technology being used by service providers could also be used by enterprise companies to improve their operations. When Nalls founded a second company named VYBRANZ, the new business model was again designed around working with customers to discover ways to cut costs without sacrificing quality. Nalls’ success has been due to his belief that the key to success is understanding customers’ needs and desires and designing solutions around them.
Another lesson from Nalls’ approach to business is the importance of taking care of employees. Nalls understands that the company cannot succeed until every employee is dedicated to the company’s mission which is why he invests so much in making sure his employees’ morale is high and they feel valued in the company. He regularly interacts with the employees because he understands that employees can also be a source of valuable ideas and opportunities. He doesn’t only preach appreciation for employees but demonstrates through his personal actions which is why he enjoys credibility among his subordinates and his subordinates are willing to go out of their way to help the company succeed.