Navy officer-turned-CEO's advice on how to succeed in business

(Image credit: LinkedIn/Thomas Douglas)

United States Navy Officer Thomas Douglas made a big investment in 2001. He bought the IT solutions company that he had joined as an entry-level engineer.

Now, over two decades later, as the CEO of JMARK, he has established himself as a noteworthy leader. On LinkedIn, has been endorsed as someone with a rare combination of “business management acumen and positive, high- performance attitude”.

Since he took charge, the Missouri-based company has found itself counted among top private companies in the US multiple times.

JMARK says that it adheres to a “People First, Technology Second” philosophy.

This is something its CEO emphasised in an interview with the Military Times website. When asked for advice on how to succeed in business, the first point he put forth was team work and building relationships

Some sacrifices are also necessary along the way, he added.

“I often had to pay talented people more than myself to ensure we had the right people around us,” he told the website. “If you invest and believe in people, it will pay off."

Forgiveness is important, he added. “Grace is key in learning as a team and making sure you ultimately win”.

Douglas said people will always be essential to business, but more automation will make success easier.

“Automate as much as possible,” he was quoted as saying by Military Times. “From accounting, processes, communications, etc. There are more tools available now than ever before. Do the research to figure out how to minimize the humans that you need to accomplish the outcomes to control costs and volatility.”

Douglas advised entrepreneurs to keep cash reserves in case of contingencies. “Winter is always coming,” he said. “I ran for years without much cash and was fortunate that we didn’t have really bad times. It would have destroyed us.”

And last, the learning must never stop.

"You must be a student now and forever. Build the time in your routines to learn about the trade, about business, about leadership, about tax management, etc," he told Military Times.