10 Lessons I Learned as Someone Who Has Spent 10 Years Running a Business

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Article by Matthew Berman

This month, I’m celebrating my 10 year entrepreneur anniversary. It’s been a decade of late nights, working weekends, networking with tremendously talented people, fostering client relationships, relentless traveling and a myriad of highs and lows that define the life of an entrepreneur. Running a business is a journey of joy and pain, but for some of us, the siren’s song of entrepreneurship cannot be silenced.

If you’re in the early stages of starting your business or currently in the trenches of growing your business, here are the top ten pieces of advice I have for you.

1. Get Good at Every Aspect of the Business

Maybe you started your widget business because you love making widgets. As the new owner of a widget business, you’ve signed yourself up for dozens of new jobs, most of which are not directly related to making widgets. You need to manage people, make sales, manage accounts, track finances, create operations, and a million other little things. You need to have an understanding of how each piece of the business operates so that you can train others, hire the best people and help your team identify problems.

2. Get a Support Network

Being an entrepreneur is a grind. How are you going to get through those stretches of doubt and difficulty without your support network? Your family, friends, mentors and partners are crucial to maintaining mental stability. Surround yourself with people you can open up to and who you trust. Guidance and support are everything.

3. Hire People Smarter Than You

Business is a team sport, not a one-man band. Your business should not be the “you” show. Your job is to find the absolute best people, who can do every aspect of the job better than you can. You set the tone, but your team should feel they have a stake and a say in the work product, culture and output. If you don’t trust your team to make smart decisions, then you’ve assembled the wrong crew.

4. Pound the Pavement

Sales are the lifeblood of every business. Without constant revenue, your business will cease to exist. As a business owner, it is your responsibility to ensure your business generates revenue. Sales won’t just happen, especially for a new business. In the first few years of owning a business, you should be pounding the pavement non-stop. Knock on every door. Write and mail physical letters. Identify prospects. Send personal notes. Attend every networking event possible.