“Drill the well before you need the drink of water.”
Kay Koplovitz founded USA Networks and ran the cable television company for 21 years before it was sold in 1998 for $4.5 billion. What she is doing now as Co-Founder and Chairman at Springboard Enterprises is arguably even greater, as over a 20-year track record, Springboard Alumnae founders have created over $20 billion in value and 20 IPOs. Springboard achieves all this by providing the entrepreneurs of scalable, innovation companies access to essential resources and a global community of experts.
I asked Kay, “What is the thread between what you learned at USA Networks and your current work with Springboard?”
She responded, “It is very important to build your network early on … your outreach, your advisors, even competitors. Drill the well before you need the drink of water.”
“You’ve got to get out there and have people understand what you are doing,” Kay said. “You are the missionary. You need other people to buy in and follow you as the leader.”
This reinforces how most CEOs have succeeded. It’s all about trust, relationships and results.