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- To trust in the power of sustainability
I would tell my younger business self to trust in the power of sustainability and eco-friendly practices. Embrace the journey of creating products that not only benefit customers but also protect our planet. Don't be afraid to take risks and innovate, because your passion for sustainable skincare will resonate with environmentally conscious consumers. Stay true to your values, and remember that every challenge is an opportunity to learn and grow. Believe in your vision, and know that your dedication to ethical practices will set you apart and lead to long-term success.
Thanks to Kim Guseli, Botanical Skincare Lab!
#2- Follow your passion
Follow your passion. It will help you overcome the difficulties that will come. Focus on skill development and ongoing education to keep on top of trends. Accept setbacks as stepping stones to success rather than causes for discouragement. Assemble a bright, committed group of people who share your vision. By going above and beyond for your customers, you may build enduring relationships. Take good care of your money. Even the brightest companies can fail due to incompetent management. Even in the face of difficulty, persevere and keep a strong, upbeat outlook.
Thanks to Justin Crabbe, Jettly!
#3- Start a business you‘re passionate about
Start a business you‘re passionate about, as passion will drive you through the tough times. Continuously invest in learning and developing new skills to stay competitive. Embrace failures as learning opportunities, not roadblocks. Surround yourself with a talented, driven team that complements your strengths. Prioritize customer satisfaction above all else, as loyal customers are invaluable. Exercise financial discipline and prudence from the outset. Maintain a resilient, adaptable mindset, and never lose sight of your goals.
Thanks to Lisa Rehurek, The RFP Success Company!
#4- Build a solid team and empower them
I have learned that trying to do everything yourself can cause a massive amount of stress. Early on, I spread myself too thin, which stifled the growth of my company and myself. I'd advise my younger self to trust in building a solid team and empowering them to take ownership of their roles so they can master what is expected of them. It is crucial to invest in people and processes so that they scale with your vision. Also, don't shy away from your failures they are just another path to success later on. Embrace them, learn quickly, and move forward. Lastly, prioritize your mental and physical health.
Thanks to Deepak Shukla, Pearl Lemon!
#5- Relentlessly pursue innovation
I would tell my younger business self to relentlessly pursue innovation and never settle for the status quo. The health benefits industry is ripe with inefficiencies, and embracing a mindset of continuous improvement and technological advancement is crucial. I would emphasize the importance of listening to the needs of clients and building solutions that address their pain points directly. Moreover, fostering a culture of agility and collaboration within the team can drive remarkable outcomes.
Thanks to Tim Johnson, Tim Johnson!
#6- Be flexible
If I could sit down with my younger self today, I'd stress the importance of being flexible and the power of a strong pro network. I'd definitely tell my younger self not to shy away from change and innovation. Every challenge is a chance to grow. Embrace new technologies and methods. I underestimated the importance of connecting with others in our industry. These relationships are about support and fresh ideas, and sometimes, they even lead to new projects and partnerships. Continuous learning and maintaining a solid network have been important to our success.
Thanks to Ben Davis, The Gents Place!
#7- To spend less time worrying
I would tell my younger self to spend less time worrying about what other people think. When I was in my 20s, I had the question, “How will this look to others?” in the back of my mind as I made important decisions. As I've gotten older, I've learned to focus more on my own goals for myself and my team instead of what others expect of me. Follow your own instincts, and you will do well in the long run.
Thanks to Scott Shrum, Hennessey Digital!
#8- That self-care is not optional
I would emphasize to my younger self, that self-care is not optional. In the early days of building my business, I often neglected my well-being in pursuit of success. When taking time to rest, exercise, and nurture my personal interests, I recharge my energy and maintain a clear mindset, enabling me to approach challenges with resilience and creativity. Finding a balance between entrepreneurship and self-care has been a journey of trial and error.
Thanks to Danielle Hu, The Wanderlover!
#9- To start building 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 then and operating on a shoestring, often a broken shoestring. That made business (and life stressful). Nowadays I’m still self-employed, a speaker and writer, and having a bit of money behind me keeps me from 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- Take a gap year and slow down
Take a gap year and slow down: 1) Take a gap year. For most, there is a small window where you can work in a beach club in Mykonos or live in an Ashram in India before life gets real. Take that chance. 2) Slow down. Now, mid-career and looking back, I was driven by climbing the corporate ladder as quickly as possible. The responsibility of management or business ownership can be all-consuming and less about the “work.” Being on the tools, learning the trade with senior safety nets, and not being ultimately responsible is actually an incredibly rewarding place.
Thanks to Gareth Beck, Romano Beck!
#11- Focus on building strong relationships
I’d tell them to focus on building strong relationships and not just chasing quick profits. I’d stress the importance of understanding and knowing our customers deeply, as they are the heart of the business. I’d also advise not to be afraid of failures—they are learning experiences. It's crucial to keep an eye on cash flow and manage expenses wisely. Lastly, I’d tell my younger self to take care of personal well-being and not burn out. Balancing work and life is essential for long-term success. Keep learning, stay humble, and trust the process.
Thanks to William Clark, SATX Concrete Contractors!
#12- Don’t be afraid to take calculated risks
If I could go back in time, there are many things that I would like to tell my younger self. However, if I had to choose one, it would be: Don’t be afraid to take calculated risks because growth often happens outside of your comfort zone. Although, in the early stages of building a business, it's only natural to feel nervous or anxious about stepping into the unknown, and of course, there's always a chance of things not going your way. But also remember that a well-researched and planned risk can lead to significant breakthroughs.
Thanks to Rahul Vij, WebSpero Solutions!
#13- Take time to leverage data
In the early days, you may not have the budget to outsource your marketing and struggle to find time to do it yourself. The same is true for data. Taking the time to collect, organize, and analyze data can give you a major advantage. If I could go back in time, I would urge myself to always at least collect data when given the opportunity. Down the road, you may be able to do more with it. At a minimum, I recommend setting up Google Analytics on your website as soon as it launches to collect data on how users are accessing and interacting with your site.
Thanks to Thomas Samuels, Cardinal Expo!
#14- Embrace the power of delegation
As a small business, my advice to my younger business self would be to truly embrace the power of delegation and trust in the capabilities of your team. Early in my entrepreneurial journey, I often found myself tangled in every operational detail, which was not only exhausting but also stifling the potential of my team. Trusting your team not only fosters a more dynamic and resilient business environment but also frees you to focus on strategic growth. In hindsight, leveraging the expertise around you and focusing on what you do best can propel your business further.
Thanks to Mitch Chailland, Canal HR!
#15- Embrace failure early and often
If I could speak to my younger business self, I would say, “Embrace failure early and often.” It's easy to focus on the success stories, but real growth and innovation often come from the lessons learned during the less celebrated times. Failure is not the end but a stepping stone to refining your strategy and improving your approach. Early in my career, I hesitated to take risks for fear of making mistakes, but I've since learned that each misstep brought me closer to understanding what truly works. Embracing this mindset has been crucial in developing resilient marketing strategies.
Thanks to Ricky Allen, Ever Wallpaper!
#16- Listen closely
If I were to jump back in time and offer some words of wisdom to my younger, business-beginner self, I would say: ”Listen closely, because this journey you're embarking on is nothing short of epic. First off, embrace your missteps as much as your victories. Each failure is secretly a masterclass in disguise. Dive deep into understanding your finances—think of cash flow as your business's oxygen. It’s vital. And here’s something I can’t stress enough: build genuine connections. Relationships will be your strongest assets. Lastly, keep your sense of humor always at the ready.
Thanks to Nguyen Huy, TrendyAloha!
#17- To trust my instincts
I made a fair share of mistakes when I started my company at a young age. If I could go back, I would advise myself to trust my instincts and implement my vision and strategy from day one. These are the foundations of any successful business. I would also stress that adversity is not a roadblock but a stepping stone to personal growth. The challenges I encountered have been instrumental in shaping my character and professional journey.
Thanks to Shane Hurley, RedFynn Technologies!
#18- Be resilient and adaptable to change
I would stress the importance of resilience and adapting to change. Embrace failures as stepping stones rather than setbacks, learning from each misstep to better navigate future challenges. Cultivate a strong support network—partners, mentors, and like-minded peers—whose collective wisdom can guide you through turbulent times. Sometimes, it's not about knowing all the answers but rather having the right people to turn to for advice and support.
Thanks to Meg Tibayan. Bright Sprouts!
#19- Embrace love and appreciation for my homeland
Coming from the Philippines, where life's challenges can feel overwhelming, I once harbored resentment towards my country, seeing it as the source of my struggles. However, I've come to understand that struggles are not unique to the Philippines, nor am I alone in facing adversity. If given the chance to advise my younger self, I'd emphasize the significance of love and empathy towards our country and its people. By fostering a sense of unity and solidarity, we can leverage our skills and resources to create positive change for our community and beyond.
Thanks to Miriam Joy Macalanda, Best Hardware Supply!
#20- Value patience and strength
If I could share a piece of advice, it would be to value patience and strength above everything else. Every mistake is an opportunity to grow, so don't be in a hurry. Slowing down can sometimes mean you do a better job. I can’t stress enough how important it is to build solid relationships. Networking isn't just beneficial; it's essential. Stay curious. Make it a point to continuously learn and adapt to the growing scene of your industry. It’s also important to find that sweet spot between work and having a good time. Life’s too short not to enjoy it!
Thanks to Anthony Chien, American Cleanroom Systems!
#21- Make sure to meet as many new people as possible
Networking is the most important thing a business owner can do in order to grow their business in the long run. I would also tell my younger self that I should forgive myself if I make any mistakes with my business because I am always doing the best I can with whatever information I've been given at any time. Those two pieces of information would have probably boosted my business 5 years ahead of where it already is if I had implemented them back when I first started.
Thanks to Julia Seraphine, The Julia Seraphine Agency!
#22- Find a relevant problem that aims to solve issues
If I can talk to my younger self, I'll make it a point to realize earlier on to “always think about what question you‘re trying to answer”. That goes, whether in life or in my entrepreneurial ventures. With technological advancements popping up left and right today, finding a relevant problem that aims to solve issues that resonate with you personally is critical in making a successful tech business. Think about it, if you‘re having a problem with something to the point that you‘re thinking of a way to innovate it, it means that other people might be having the same challenge.
Thanks to Jamie Frew, Carepatron!
#23- Importance of resilience and adaptability
I'd say, “Embrace every setback as a stepping stone. Don’t just stick to what you know; continuously seek out new technologies, trends, and marketing strategies to stay ahead.” I’d also stress the significance of building genuine relationships. Networking isn’t just about exchanging business cards; it’s about forging real connections. Invest time in understanding the needs and challenges of your clients and your team. These relationships will be the bedrock of your business’s support network. Lastly, I would urge my younger self to prioritize work-life balance from the start.
Thanks to Paul Mario Vratusha, D-Studio Consulting!
#24- To believe in herself and take risks
If I could go back in time, I would encourage my younger self to believe in herself, take risks, and always look for opportunities to grow. Taking leaps is often scary, but they are the experiences that will help you grow the most. Put yourself in rooms with industry professionals whose strengths are different from yours. Surrounding yourself with experts in different areas will help you build a more holistic perspective. Stay grounded in constant growth—RSM Design’s story from garage to global was only made possible through a killer growth mindset, committed to learning and bettering ourselves every day.
Thanks to Suzanne Redmond Schwartz, RSM Design!
#25- Glean from both success and missed opportunity
I would teach my younger self, gleaned from both successes and missed opportunities. First, dare to be bold and unafraid of pursuing your dreams, goals, and all the things that set your soul on fire. Some of life’s greatest memories and most impactful experiences are the result of these (initially) scary choices. Second, be more of YOU; you don’t need to conform to societal norms. Don’t let peer pressure persuade you otherwise. Lastly, society’s standard of “balance” is full of crap; balance is relative, and you determine what balance means for you.
Thanks to Hana Cha, HANA Collective!