Erika Andersen is an entrepreneur and leadership advisor. She is the co-founder of Proteus International, a consulting firm that helps individuals and organizations clarify and move toward their desired future. With over 35 years of experience, Erika has worked with a wide range of clients, from small startups to Fortune 100 companies. She is also the author of several books on leadership and personal development.
What are three things you think every entrepreneur should know?
For me, the essence of entrepreneurship begins with understanding personal motivation. It’s vital to identify what truly drives you because, as any entrepreneur knows, the journey is fraught with challenges. Knowing your “why” becomes the compass that guides you through the highs and lows.
Second, in the entrepreneurial world, being a fair witness is paramount. This concept, borrowed from the book “Stranger in a Strange Land,” means viewing your business objectively, free from assumptions. It’s about seeing your venture through the eyes of others, whether clients, employees, or stakeholders. This discipline is critical for making informed decisions and adapting to changing circumstances.
And finally, having enough capital to weather the storms is a practical necessity. My advice to budding entrepreneurs is to meticulously plan your expenses. Ensure you have a financial runway that extends beyond the initial stages, as unforeseen challenges are inevitable. Financial prudence is the bedrock of sustainable business growth.
What problem does your business solve, and who are your customers?
Proteus, my consulting firm, focuses on solving a fundamental challenge for individuals and businesses – the need to clarify and move toward their envisioned future. Our clients span a diverse spectrum, from mid-sized companies generating revenues between $500 million and $10 billion to industry giants like FedEx and Meta. We also extend our services to smaller startups and nonprofits.
What inspired you to become an entrepreneur?
My journey into entrepreneurship began in the 1980s when I found myself working in management training. I observed a significant gap – clients treated the training as a transaction, lacking the partnership approach I envisioned.
Motivated by the desire to be a true business partner, I took the plunge into entrepreneurship. My goal was clear: to help clients not only achieve their training objectives but to genuinely clarify and pursue their future goals.
Knowing what you know now, how would you have spent a million dollars when you first started your business?
Reflecting on the early years of Proteus, I would have made strategic financial decisions with a million-dollar investment.
Approximately half would have been allocated to create an endowment, ensuring financial stability during the nascent stages of the business. The remaining funds, around $500,000, would have been earmarked for hiring a high-calibre sales and marketing professional. This strategic move, I believe, would have accelerated Proteus’s growth trajectory.
What is your proudest accomplishment as an entrepreneur?
My proudest accomplishment as an entrepreneur is the positive impact my work has had on people’s lives. Whether through executive coaching, leadership development, or transformative practices, the moments when clients express how my guidance has shifted something within them are incredibly rewarding.
The mission of Proteus has always been to make it easier for people to clarify and move toward their hope for the future, and witnessing tangible transformations validates the purpose of our work.
What big goals are you looking to achieve?
As I transition into a semi-retired phase, several significant goals are on the horizon. First and foremost is ensuring a seamless transition for Proteus into the next chapter of its journey. According to my partners, Jeff and Laird, the process is progressing smoothly, and the company continues to thrive.
Another endeavour is writing a new book, a departure from my previous works. The working title, “The New Old Age: Crafting Your Best Later Life,” explores applying leadership, learning, and change principles to navigate the complexities of the next phase of life. With an increasing number of people living to 90 or beyond, this book aims to guide individuals in making the most of their later years.
Lastly, my husband and I have fallen in love with Northern Spain, specifically Asturias. In the summer of ’22, we purchased an apartment in Oviedo, and now we’re exploring ways to spend more time there than here. The goal is to become fluent in Spanish, immerse ourselves in the vibrant culture, and establish a meaningful connection with the community.
Erika Andersen’s entrepreneurial journey is not just a narrative of business successes but a testament to the principles that guide a fulfilling entrepreneurial life. Motivation, objectivity, financial prudence, and the profound impact on individuals and businesses are the hallmarks of her insights. As she gracefully enters a new chapter, Erika continues to inspire with her commitment to learning, growth, and making a positive difference in the world. Her story is a beacon for aspiring entrepreneurs navigating the exciting and challenging terrain of building and sustaining impactful ventures.
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