Nick Sotos calls himself an eternal optimist, and that mindset seems to be paying off. As President of iD Additives, Inc, a supplier of foaming agents and other products for the plastics industry, his leadership has helped the company make the Inc. 5000 list for the past seven years running. Today, iD Additives pulls in $8 million annually in sales, and Nick’s plans for growth are only just beginning. They started with an eye toward brand visibility.
The Importance of the One Year Plan
When he attended the Birthing of Giants event in September 2017, Nick set himself the one-year goal of getting the company’s new product line to market and increasing brand visibility. His plan worked out so well that several new opportunities have arisen from it.
“We have the marketing and we have the opportunities,” Nick says. “Now I need people to help me with the follow-up.”
Part of this follow-up requires Nick to take a step back from some aspects of the business. In the past he viewed himself as an entrepreneur who does everything. But during his time at Birthing of Giants, he’s come to realize that this isn’t sustainable.
“That’s how I’ve always done things,” he says. “But I’ve learned to think about getting stuff off of my plate, letting other people grow into those spots so that we can continue to grow.”
Letting Go To Grow
This is one of many realizations Nick has had since joining the program, and not all of them have been easy. He recalls one instance when he pitched his plan to our entrepreneur-in-residence, Norm Brodsky,only to receive some challenging questions back from that entrepreneur’s entrepreneur. Despite his initial hesitancy, he admits that Norm was right, and he’s pleased to have had his mindset challenged.
“Sometimes it’s a little difficult, a little uncomfortable,” he says. “But you have to trust in the process. It’s advice, and you’re going to choose to do what you want to do, but having someone with that level of experience offering you advice helps you rethink things.”
Nick has since attended one of our Gathering of Giants events – our program specifically designed as continuing education for Birthing of Giants graduates. Nick continues to challenge himself as a leader, and bring the insights he learns back to iD Additives. We wish him the best of success!
Birthing of Giants is a gathering of entrepreneurs focused on advanced education via strategy-planning programs lead by a team of leading entrepreneurs in American business. Our programs, including the One-Day MBA and the Birthing of Giants Fellowship Program, allow business owners and entrepreneurs to gain from the wisdom of thousands of experienced business leaders. We help you implement proven strategies for sustaining and enhancing business growth.
Article originally posted on https://birthingofgiants.com
Lewis Schiff is the author of Business Brilliant: Surprising Lessons From the Greatest Self-Made Business Icons, the executive director of the Business Owners Council and the co-founder (with Norm Brodsky) of BEN Global Mentorship that helps business owners transform their companies into scalable enterprises and, eventually, enduring institutions with help from rockstar entrepreneurs from around the world.