Nothing says fun and happy like the toy business -- but for one executive, Jon Capriola, Founder & CEO of Laser Pegs®, it is the most serious company he has ever run.
"When you’re creating a product for young children – it’s vital to maintain a seriousness in standards of manufacturing, distribution, and value," said Capriola who founded Laser Pegs®, the world's first toy construction set that uses low voltage current to light up when pieces are connected.
"Our toys teach kids creative abstract thinking, problem solving, math skills, pattern recognition and improved hand/eye coordination," said Capriola. Additionally, Laser Pegs’ virtual construction iPad app allows children to create models in 3D, share manuals and play games. "And, while our office environment has been compared to a modern-day Santa's Toy Shop," says Capriola, "to be successful our team must possess a sharp and keen focus everyday."
Below are Jon Capriola's tips on how to stay serious when you are running a fun business.
1. Keep secrets secret. Until you finalize your product or add-ons, use caution in the early stages of development. Share the ideas and the implementation process only with your most trusted colleagues and always have an enforceable NDA (nondisclosure agreement) handy. Especially in a business that is fun and happy -- the desire to spill can be even stronger. Even in the toy business caution is required because there will always be many sharks circling your success.
2. Tap the best talent and toss the rest. Not only should you hire the best people -- but that is who you should keep on board. Too often employees get complacent and it is easier to keep them than let them go -- but just like your product line that needs to be revamped and updated -- so does your workforce. Dump your losers and bring in winners! The only way to win the Super Bowl is with an all-star team!
3. Make time for fun. The toy business is like any business -- when sales are up, goals are reached and new ideas are developed -- it is time to celebrate! Make sure you recognize and reward employees on their initiative and achievement and when the time is right -- celebrate with the whole group on the company success.
For more info on Laser Pegs®, visit: www.laserpegs.com