What is the Most Important Thing You Learned When Starting Your Own Business?

I was recently asked on Quora "What were the most Important things learned when starting your business?  Good question and there are about a 1000 things to answer with.  I thought about it and narrowed it down to these 4 as a starting point.

• Don’t be surprised if 5 seconds into starting, the business plan you spent so much time on goes out the window.  But, that shouldn’t worry you – how many things go exactly as they are planned anyway.  That is part of the fun and challenge of life.  The biggest thing you can learn is to be prepared and ready to roll with it, pivot, and find the way to success.  Always remember, people don’t rise to the level of their expectations, they rise to the level they prepare for.  Which brings me to #2

 

• Before you start, condition yourself to be “bulletproof.”  Here’s the cold hard fact.  Most startups don’t make it.  But that doesn’t mean YOU don’t have to make it.  It does mean that you will have to go through the rite of passage of becoming an entrepreneur.  This entails failing, overcoming seemingly impossible obstacles, and figuring it out.  Winston Churchill famously said, “When you are going through hell, just keep going.”  And this is really it – just keep going.  The trick I used early on when things got bad or it seemed like we were doomed is to promise myself that I would do it “one more day.”  The next day, I promised myself that I would do it one more day.  And the next and the next…  Just by keeping going, we outlasted the problems, and many competitors, and gained success.  We weren’t always profitable, or making much – but we were alive and still going in business and that laid the groundwork for the success to come.

 

• Balance empathy with toughness of leadership.  It is important to be understanding and caring for those you are working with, especially in the beginning – but don’t mistake that for not sacrificing and doing what has to be done to make the business viable and go.  Be tough, but fair and remember, “Fairness does not mean sameness.”  You can treat everyone fairly and with respect, but you do not have to treat them the same.  For example, if you have sales rainmaker, you have permission to treat them differently than someone who is not performing.  There will be many times that you as the founder have to carry everyone on your back to get over a challenge or to the next level – you will have to be tough and that is ok.  You have to lead.  This scene from Guardians of the Galaxy always reminds of this balance and the trials and tribulations of leading… 

• Lastly, make sure to have an outlet for busting stress and to give your mind chances to clear out.  For me, this has always been rigorous exercise.  I work out for 1-1.5 hours per day at a pretty intense level with a mix of weight training and speed training to compete in half marathons.  Always for the first 30-45 mins my mind is going a million miles an hour with random thoughts, ideas, and all of the things happening in my life.  Only after about 45 mins does it calm down and allow for peace and clarity.  Whether it is 5 miles into a long run or in the middle of a set, this peace and tranquility always comes and it gives me the release of stress I need.  Many times, with my head clear, some of my best ideas show up at these times.  Find whatever works for you to give yourself the time each day to find clarity and bust stress and make sure to incorporate it from day one.

There are a ton of other things I could give you, but if you can put these 4 into practice, you will have a good foundation to take on the challenge of starting a business, persevere, and succeed.  Now, go make it happen!