If you had the opportunity to hop into a time machine and talk to your younger business self, what would you say? Many successful entrepreneurs have shared that they wish they had known certain things earlier in their careers. It could be advice about time management, prioritizing their goals, the importance of networking, or the need to focus on self-improvement. Whatever the advice may be, it's clear that every entrepreneur has experienced lessons they wish they had known sooner. By reflecting on past experiences, you can gain valuable insights to apply to your current or future business endeavors. This is one of our favorite questions here at CBNation.
Here’s what CEOs would tell their younger business selves.
#1- Maintain an empty email inbox
If I could go back and advise my younger self as a business owner, I'd emphasize the importance of maintaining an empty email inbox at all times. This one habit has had a profound impact on my mental load and my ability to effectively manage my business and I now encourage all of my clients to employ this practice. I've learned to filter emails through a disciplined lens of Do (adding tasks to my to-do list), Delete, Delegate, or Defer. By using a workflow app to manage my tasks and striving for inbox zero, I free up my mind to focus on achieving my goals.
Thanks to Riana Prigg, RIVA & CO.!
#2- Don't sweat the small stuff
Don't worry about what people think of you or what you do. Honestly, people don't care, as long as you are showing up every day, providing feedback to clients, and being honest and authentic…that is all that matters. And, have a financial buffer-one of the things Covid taught us – was to expect the unexpected- and you never know when things might get quiet or a sale falls over, so make sure you have a buffer in your bank account, whether it be 6 months or 12 months of expenses, to cover you when times get tough.
Thanks to Kerri-Ann Hooper, Carnelian Projects!
#3- Slow down and breathe
If I could take a spin in a time machine and chat with my younger business self, I'd say, “Benedict, buddy, slow down and breathe. I know you're eager to conquer the world but remember, Rome wasn't built in a day. Take the time to build strong foundations, nurture relationships, and always prioritize learning and growth. And don't forget to enjoy the journey along the way. It's not just about reaching the destination; it's about savoring every step of the adventure.
Thanks to Benedict Ang, TotalShape!
#4- To build a strong team
I would tell myself to focus on building a strong team. One of the most important aspects that kept getting swept under the rug was building my A-team. Building a team is not just about skimming resumes and interviewing subpar candidates, it’s about getting together people who share my vision and values. But now I don’t need a time machine as I found my perfect team that stands by me through thick and thin. We at HiredSupport make sure that our clients are prioritized and deadlines are met, without disrupting work-life balance.
Thanks to Joel Wolfe, HiredSupport – Customer Service Agency!
#5- Bring together relationship sooner
I would tell myself to embrace the idea of bringing together relationship talent sooner rather than stubbornly slogging it alone for so many years. At PositivesDating, that galvanizing force entails amassing an amazing group of professional therapists, counselors, researchers, and coaches. Our unique platform is stronger because we came together out of the private practice space. So I wish I had the foresight to curate that support ecosystem sooner.
Thanks to Jonathan Hartley, PositivesDating!
#6- Have patience and truly get to know the customer
I'd emphasize the importance of patience and really getting to know what customers truly need. I'd tell myself to spend more time listening to customers, aiming not just to address their immediate concerns but to also foresee and cater to their future desires. Looking back, my eagerness for fast expansion sometimes led me to move too quickly. Through experience, I've understood that growth should be sustainable, based on solid relationships with customers and a well-defined brand identity. This strategy ensures stability and establishes a bond of trust.
Thanks to Valentin Radu, Omniconvert!
#7- Prioritize client experience
The best piece of advice that I could have given to myself when I was younger—or to any young entrepreneur—is to prioritize client experience. That goes beyond just meeting their expectations and offering friendly, supportive customer service, although both of those are important as well. I mean truly understanding each client’s business objectives, challenges, and processes—and how your products or services fit. You may even identify opportunities to offer additional products or services so you can provide clients with a one-stop shop for all their needs.
Thanks to Thomas Samuels, Cardinal Expo!
#8- Setting clear, long-term goals
One thing I wish I knew when I was younger is the importance of setting clear, long-term goals. Don’t just focus on the here and now. Always visualize where you want your business to be in 5, 10, or even 20 years and write it down. Keeping these long-term goals in mind will always help you with decision-making by ensuring every decision is in line with your longer-term targets. Having the goals written down means that you can use them as a reference at any point.
Thanks to Erwin Vico, Slick Cash Loans!
#9- Build a financial cushion
If I could give one piece of advice to my younger self, it would be to start building a financial cushion as early as possible. I was self-employed back then and operating on a shoestring, often a broken shoestring. That made business (and life stressful) and it also kept me from taking advantage of several big opportunities. Having a bit of money behind me keeps me from tossing and turning at night, stressing out over what might happen if business gets slow. It allows me to focus on doing my best work, not just fighting to get the next check.
Thanks to Barry Maher, Barry Maher & Associates!
#10- Network and build connections
Networking and building connections are important; start doing it from day one. Even now, after all these years, I realize how much it actually matters. Very few people succeed alone, so the people you surround yourself with and the people you build relationships with in every sense build you. I would advise myself to be more active in this direction and tell myself how important it is to develop this network. And, of course, it's not about the constant hunt for profit or gain; the point is in mutual aid, which works both ways.
Thanks to Misrraim Cardenas, Portella!
#11- Prioritise physical and mental health
If I could hop into a time machine, I would tell my younger business self to prioritize taking care of my physical and mental health. Real estate can be a demanding and stressful industry, and it's crucial to maintain a healthy work-life balance. Regular exercise, proper nutrition, and sufficient rest are essential for sustaining high levels of energy and focus. I would emphasize the importance of managing stress and seeking support when needed, whether through therapy, meditation, or engaging in hobbies and activities that bring joy and relaxation.
Thanks to Chris McGuire, Real Estate Exam Ninja!
#12- Take calculated risks
I would emphasize the importance of taking calculated risks. It's natural to feel apprehensive about stepping outside of your comfort zone, but taking calculated risks can lead to significant growth and opportunities. Trust your instincts, gather all the necessary information, and be willing to take calculated risks to propel your business forward. Another crucial piece of advice would be to prioritize building a strong team. Effective teamwork and collaboration can fuel innovation and drive success.
Thanks to Connor Ondriska, SpanishVIP!
#13- Establish a solid network
Traveling back in time, I would emphasize to my younger business self the critical role of establishing a solid network early in my career. This network should include mentors, colleagues, and experts within the industry. Such connections can open doors to insights and opportunities that might not be immediately apparent. I would also highlight the necessity of being resilient. Additionally, I would advise paying closer attention to customer feedback right from the beginning.
Thanks to Mike Drouin, Reefertilizer!
#14- Trust your instincts
Throughout my career, I've learned that sometimes, the most straightforward solutions are the most effective ones. I wish I had known this earlier on, as it would have saved me a lot of time and effort trying to come up with complex strategies to solve business problems. It's crucial to remember that you know your business best, and sometimes, the most straightforward ideas can revolutionize your success. So feel free to trust your gut and try new things – you never know what could lead to success.
Thanks to Dana Ronald, Tax Crisis Institute!
#15- Build strong relationships
They will be invaluable in the long run. In my experience, networking is crucial for any business. It opens doors, provides support and advice, and can even lead to collaborations or partnerships. It's easy to get caught up in the daily operations of a business, but remember to nurture those professional relationships and expand your network. I have experienced much growth and success thanks to the connections I've made over the years. So, for any aspiring entrepreneur, remember this: “It's not just about what you know, but who you know.”
Thanks to David Zhang, Kate Backdrop!
#16- Never stop learning
If I had the chance to guide my younger self, the advice I'd give would be never to stop learning. Keeping up with fresh marketing approaches and the latest in the field is key. Adapting and welcoming new strategies can make all the difference in staying ahead of the competition. I've learned that firsthand through my experience in Marketing for over ten years, and it has truly revolutionized our brand's growth. So remember, always be bold and try something new or take a different approach. Embrace the changes and always keep learning.
Thanks to Ricky Allen, Ever Wallpaper!
#17- Don’t expect huge results overnight
Entrepreneurs tend to overestimate what can be achieved in the short term while underestimating the long-term impact of consistent effort. It's a common pitfall to expect immediate results, only to feel disheartened, and sometimes a failure. This can lead to people giving up before they see the results of their efforts. Great achievements are rarely the work of a single week or month. They stem from the collective efforts of countless hours of hard work. Remember, Rome wasn't built in a day, and neither are remarkable businesses.
Thanks to Matt Collingwood, VIQU IT Recruitment!
#18- Estimate the time of receiving cashflows
In reflection as a business owner, one key decision is crucial to the success of your entrepreneurial journey. That is, estimate the time it will take for your specific business to cash flow and ensure you have enough savings to cover your living expenses during that time. If you're mowing lawns, you can expect cash from day 1, but if you're building the automotive software for the next generation of Motor Dealers like I am. Do yourself a favor and have 18 months of living expenses covered. The last thing you want is to take focus away from your business to put food on the table.
Thanks to Bradley Roulant, Car Jeani!
#19- Be confident and trust the process
If I could hop into a time machine, I would tell my younger business self to be confident and trust that his hard work would pay off. Confidence and hard work are both key aspects of entrepreneurship, but it’s sometimes difficult to have confidence in your ideas when you are in the early stages of entrepreneurship. At that point, you don’t yet have the track record to show that your business will succeed, and you’re just putting in the work to build that foundation. I would tell my younger business self that the work will pay off and to have confidence in his ideas because now I know how it turned out.
Thanks to Tim Johnson, Health In Tech!
#20- Put your offerings online
Years ago, we didn’t realize just how crucial the internet would become, especially for selling products (or, in our case, yoga therapy training). If I could go back in time, I would urge myself to be at the forefront of the online migration. Even as recently as the pandemic, businesses are still seeing how important a strong, clear, regularly updated online presence is today. In addition to making it more convenient for people to learn about your business, shop for products, and gain an education, getting your business online is important for your marketing as well.
Thanks to Anna Passalacqua, Breathing Deeply Yoga Therapy!
#21- Listen to your instincts
In terms of business though, I think the main thing I’d tell myself would be to listen to your instincts. I knew deep down that I needed to make changes, but I resisted. I was worried about what the future would hold if I decided to go it alone. I wish I could tell myself that things would turn out okay, in fact, they’re so much better now. When I finally took the leap and started my own business, I was so much happier. I realized just how stressed I had been, and the impact it had been having on my life.
Thanks to Ryan Carrigan, MoveBuddha!
#22- Focus on long-term goals
I would tell myself to focus on my long-term goals, because putting in the work pays off. When you are starting out in your career, it can sometimes be difficult to envision how it will take shape. Now that I am established in my role, I am glad that my younger business self stayed focused and gave it my best effort.
Thanks to Lauren Gast, Truck Driver Institute!
#23- Choose a business partner wisely
I would tell myself: make sure you choose a business partner very carefully. Not just based on their skills or industry expertise but also on their values, work ethic, and long-term vision for the business. Conduct background checks and seek references if you need to. People say that a business partnership is like a marriage, and choosing the wrong partner can lead to the downfall of the business. I agree with that. Find someone whose traits complement your own skill set to create a well-balanced dynamic. While differences in skills and traits can be beneficial, alignment in goals and values is still crucial, though.
Thanks to Andre Oentoro, Breadnbeyond!