Stepping Up: Making the transition from independent broker to business owner.

• Author: Goodsell, Brittny
• Position: Lessons Learned

Jed Millburn's business vision started young: at age 13, on a lawn, with a mower.

"My dad came to me and said, 'You're of age. Fend for yourself! Make your own money and pay your bills.' So Millburn started a small business mowing lawns and pulling weeds in 1990 with two of his best friends.

Millburn, CEO of Millburn & Company, mentions mowing lawns when he talks about lessons learned because an incident still sticks out. A customer called Millburn to complain the job wasn't done right; his friend mowed the lawn but didn't trim the edges or remove grass clippings. Millburn, who calls himself somewhat of a perfectionist, immediately called the friend.

"I was that guy that was like, "We need to do this right. Go trim it! Go blow the trimmings back into the grass! It needs to be perfect!"

The friend was apologetic but was unavailable. So Millburn went to the customer's house to fix the problem. He wanted to deliver a perfect product.

"The customer called back again and said, "I'll use you guys again but it has to be you.'"

Define your leadership style

A large reason why Millburn's privately held real estate investment firm succeeds is because he's always understood the need to deliver a product right the first time. "Details matter," he says. "If I make one mistake, it reflects on my entire company. I've always been this way. Don't go do something and not do it right. My business isn't the biggest but I want it to be the best."

Millburn founded his company six years ago, after having worked as a multi-family property broker. As a broker, Millburn was essentially a solo act. But as a CEO, he needed to learn to manage people--quickly. The company grew to more than 160 employees within a few short years.

Millburn says he was hungry for help. He read leadership books and sought out mentors like Rand Kerr, a hospital administrator and friend. "There are people out there you meet who are quietly amazing, and Rand is one of those people who has a wealth of knowledge. His wisdom is solid," he says.

Millburn wrote down Kerr's advice, filling pages about how to manage people effectively. "I was ready to apply it immediately. I was a sponge. He told me [good leadership] is setting up your business so it could succeed without you there."

They discussed caring for your people. Trusting them. Helping them improve instead of simply criticizing. And then Millburn added his own success formula: Create a strong vision. Show respect to those you manage. Be...