The story of EquipmentShare, spearheaded by brothers Willy and Jabbok Schlacks, serves as a beacon for entrepreneurs grappling with the complexities of modern business. Their journey from a simple idea born during a Columbia Startup Weekend in 2014 to a thriving enterprise boasting 6,000 employees and $3 billion in revenue is nothing short of inspiring. At the recent Main Street Summit, hosted by Permanent Equity, the Schlacks brothers shared their insights, emphasizing the importance of core values in a world often driven by fleeting metrics.
In a landscape where many entrepreneurs chase the allure of venture capital as a measure of success, Willy Schlacks offered a refreshing perspective. “Raising money is not success,” he asserted, highlighting a common pitfall for many startups. Instead, he urged aspiring business owners to focus on creating valuable products and fostering a customer-centric approach. This philosophy resonates deeply in an era where the market is saturated with ideas but often lacks substance.
The Schlacks brothers’ emphasis on integrity, humility, drive, and intelligence—ranked in that specific order—strikes a chord in a business climate that can sometimes prioritize quick wins over ethical foundations. Jabbok Schlacks’ quote from Warren Buffett, “If you put intelligence first and integrity last, you get a smart thief,” serves as a stark reminder of the potential pitfalls of neglecting core values. In a sector rife with competition, the ability to maintain a strong moral compass may well be the differentiator that sets successful companies apart.
Wade Foster, CEO of Zapier, echoed this sentiment, emphasizing the importance of staying on the cutting edge of technology, particularly artificial intelligence. He pointed to the early stages of innovation as a critical time for entrepreneurs to explore what’s possible with new technologies. This idea of exploration dovetails nicely with the summit’s overarching theme: innovation doesn’t have to be confined to traditional tech hubs. Shegun Otulana, founder of Harmony Venture Labs, reinforced this notion, asserting that meaningful relationships and community engagement are paramount, regardless of geographical location.
Brent Beshore, CEO of Permanent Equity, added another layer to this dialogue, emphasizing the need for intentionality in how entrepreneurs allocate their time and resources. “It’s easy to lose your way. It’s really hard to stay focused,” he noted, encapsulating the struggle many face in the entrepreneurial journey. The summit highlighted that while financial backing can be a boon, it is not the sole indicator of success. Instead, resilience emerged as a central theme, with Willy Schlacks candidly stating, “Every entrepreneur hits a point where they hate it.” This acknowledgment of the emotional rollercoaster that comes with entrepreneurship is a powerful reminder that persistence is often the key to overcoming obstacles.
As the business landscape continues to evolve, the lessons shared at the Main Street Summit resonate with a broader audience. Entrepreneurs are increasingly recognizing that success is not merely about financial gain but about building relationships, staying true to one’s values, and fostering a culture of resilience. The Schlacks brothers’ story is a testament to the idea that innovation can thrive outside traditional tech hubs, and that the heart of entrepreneurship lies in the unwavering commitment to one’s mission and principles.