Startup tips for new entrepreneurs

1. Be prepared for unplanned challenges

“One thing I wish I had known before I started my first business is that things will rarely go according to plan. I firmly believe many new business leaders give up because their vision for how things ought to work falls through, and they get discouraged.

“The best thing you can do is to plan ahead. For example, keep some cash aside in case unexpected costs arise—and they will! You may also want to consider adopting a flexible schedule instead of making concrete dates and times for big projects. Hiccups will occur, and things may get delayed; don’t let it bring you down. Instead, you should embrace the challenges that come your way by understanding that things rarely work out exactly how you expect and preparing accordingly.”

—Syed Balkhi, WPBeginner

2. Delegate early to focus on growth

“When I started my business, I had good intentions of hiring subcontractors early on. Unfortunately, I quickly fell into the habit of doing all the client work myself because I felt pressed for time, and it seemed more convenient to maintain the status quo than to hire help. I didn’t start hiring until I sustained an injury, and even then, I still did a portion of the client fulfillment myself over the next few months.

“Looking back, this wasn’t the best use of my time because my marketing, not to mention my health, suffered as a result. To others starting a business, I’d recommend creating a clear plan for when you’ll make your first hire—you’ll save yourself a lot of time and stress, which you can reinvest into more important activities, like marketing or improving your product.”

—Chloe Brittain, Monday Roadmap

3. There may not be a “perfect” time to launch a startup

“In the early stages of my business, I avoided putting out an offer into the market because I was a perfectionist. This mindset is beneficial to some extent—it sets standards and helps shape a brand image. However, waiting for the perfect time to launch something can be detrimental. In reality, if you’re skilled in your profession or have a solid product, you’ll find that people are willing to pay for it.

“Many early-stage business owners delay sending their pitch, making their offer public, or even creating an offer in pursuit of perfection. This hesitation results in lost revenue that could otherwise be used to propel the business forward. It’s more effective to release something within a reasonable time frame and refine it as your business evolves.”

—Isaac Mashman, Mashman Ventures

4. Master sales skills for success

“Learning how to sell is, by far, the most critical aspect you have to learn before starting your business. Whether it be pitching to a prospect, closing a deal, or finding a business partner, you must know how to approach each situation, as all of these involve selling. Without any substantial knowledge of the sales process, you are putting yourself at a disadvantage even before you set foot in the door.”

—Lilia Tovbin, BigMailer.io

5. Content marketing is one of the most effective ways to build your brand

“Focusing on the journey, not just the destination, is a vital marketing tip for new business owners. Having objectives, goals, and key performance indicators (KPIs) is important, but in today’s recovering economy, building your brand is even more significant.

“Content marketing is one of the easiest and most effective ways to build your brand. It’s not only free, but also provides the highest return on investment (ROI) among all marketing forms. Investing time and effort in creating high-quality content that resonates with your target audience is more beneficial than exhausting your budget on advertisements. This approach can attract high-quality leads and foster meaningful connections organically.

“Strive to become top-of-mind for your audience by consistently delivering valuable content, rather than focusing solely on conversions. Establishing yourself as a trusted authority in your industry positions your brand as the go-to resource and increases the likelihood of customers choosing your business when they’re ready to make a purchase.”

—Joyce Tsang, Joyce Tsang Content Marketing

6. Invest in branding from the start

“If only I’d set aside cash to put straight into a designer, logo, and website formatting. I did all of that myself, which is very time-consuming. Of course, I immediately outsourced accounting and administrative tasks, but I could have made a bigger splash with some solid designs that defined my brand from day one if I’d known.”

—Nadine Heir, Write Wiser

7. Choose a business you’re passionate about

“The prospect of becoming an entrepreneur is exciting and financially advantageous, and those of us who have taken the professional and financial leap have a litany of advice to offer anyone contemplating such a career. I have started more than one company, and my current one involves the business of travel, including expertise and services to clients for related needs.

“Choosing something that sparks not only interest but curiosity is the most important thing for those beginning their self-employed venture. In these things, a person can find a devotion that will carry them through their entrepreneurial journey when times get tough, and business becomes more about the bottom line than just being your own boss.

“My passion for travel has parlayed into professional success, and I count myself fortunate. I encourage all aspiring entrepreneurs to approach their business of choice, not simply out of a motivation for profit, but also as something that will sustain a realistic commitment in the ups and downs that come with the unpredictable nature of entrepreneurship.”

—Saya Nagori, Wander DC

8. Identify and validate your MVP (minimum viable product) upfront

“As part of any startup venture, clearly outlining your minimum viable product (MVP) is essential. What offer will give customers core value quickly and cost-effectively? Identifying this MVP allows for rapid launch time, feedback gathering, and iterative optimization.

“I once assisted a friend in validating her app idea by creating mock screenshots and preselling subscriptions manually. This process revealed which features users wanted most, saving months of development. Instead of building comprehensive capabilities upfront, smart entrepreneurs first outline an MVP. Validating demand and honing product-market fit are crucial aspects of business success.

“Readers who take an iterative approach to learning by mocking up and testing an MVP will learn faster, adapt more rapidly, and become savvy quickly. Establishing and validating an MVP clearly establishes an essential product core valued by users.”

—Bertrand Li, RevieWise

9. Starting a business for more flexibility and free time is a myth

“A common reason people start businesses is for the independence, freedom, and flexibility it’s thought to provide. Although, eventually, your business might run itself and you will have a more flexible schedule, the path to reach that stage is typically filled with long hours, working every day of the week, and hardly any time off.

“With a new business, there’s no real downtime. If my business was expanding, I was occupied with managing that growth; if it wasn’t growing, I was busy figuring out ways to make it grow. This is important to understand because it sets realistic expectations about the initial stages of business ownership. Knowing this helps prepare you for the dedication and hard work required, preventing disillusionment when faced with the inevitable challenges.”

—Lucas Ochoa, Automat

10. Solve a clear, tangible market problem

“Find a problem people can actually feel in their daily life and solve it. I spent years trying to educate a market about a problem they were unaware of, which led to slower sales processes and lower prices. Once I realized the real pain point in my industry, I pivoted, and sales immediately exploded. Find a pain point that people are willing to pay a lot to solve.”

—Justin Silverman, Merchynt

11. Test and validate your business idea with potential customers

“I wish I’d understood the importance of market validation before launching my business. Testing ideas and validating them with potential customers early on helps ensure that there’s a demand for your product or service. It’s crucial for new entrepreneurs to seek feedback and test their concepts before investing extensively. Understanding market validation from the start would have allowed me to refine my offerings more effectively and cater better to customer needs, potentially leading to a more successful launch.”
—Danielle Roberts, Boomer Benefits

12. Stay true to your initial audience

“When starting a business, there is a certain target audience that one aims to reach. Once the business begins to prosper financially, it’s crucial to remember where it all started. It’s not feasible to target everyone. The loyalty of the initial customer base may be lost without the guarantee of attracting new patrons, and ultimately, this could result in having no customers at all.

“Recognizing that the original customers are the loyal ones is key, and taking them for granted is a significant error. Considering a price increase solely based on current success, expanding the business, and aiming for a wealthier audience—or an audience outside of the established niche—assuming they will be drawn to the brand, is a grave mistake. Each audience has their preferred brands, and in the pursuit of new customers there is a risk of losing those who have supported and trusted the brand from the beginning.”

—Doug Van Soest, SoCal Home Buyers

13. Set clear goals and flexible plans

“The most essential piece of advice I would give to any business owner is to have a clear vision regarding your goals and objectives. Set some long-term goals, but focus on smaller ones to help you gradually reach them. Do not start with targets that you will not be able to achieve; recognize your strengths and weaknesses and evaluate them objectively.

“It is more productive when you start with a simple business plan and grow it as needed. That way both you and your business have time to grow and make mistakes, and have the flexibility to take any losses that may come your way. Make your own model of handling your business and act upon it, as no one else understands it more than you.”

—Sally Johnson, Green Light Booking

14. Take advice from others

“Starting and expanding a business is challenging. The reasons behind business failures range from poor business strategies—or none at all—to incorrect market analysis. But ultimately, it always boils down to one person attempting to handle everything on their own. However, no one individual can manage every business problem with the expertise, expertise, or even the perspective that is needed. It is crucial to become a member of and attend events hosted by your local chamber of commerce, as well as small business associations of all kinds, as well as online tools like chat rooms and podcasts. Learn from the experiences and abilities of others.”

—Daniel Li, Plus

15. Build a strong support network

“One thing I wish I knew before starting my mental health clinic is the importance of building a strong support network. As an entrepreneur, it can be a lonely journey, and having a network of mentors, peers, and professionals can provide guidance, advice, and emotional support. It is crucial for aspiring entrepreneurs to know this because a support network can help navigate challenges, provide different perspectives, and offer encouragement during tough times.”

—Paul Manley, Halo Health Clinic

16. Be able to adapt to change and pivot strategies quickly

“One key lesson I’ve learned is the power of adaptability, especially in response to social media algorithm changes. Early in my agency’s journey, I faced the challenge of fluctuating client reach due to these unpredictable updates. The decision to invest in advanced data analytics was a game changer. It not only helped us understand these changes, but also enabled us to pivot strategies swiftly, maintaining client campaign effectiveness.

“A unique aspect of our approach was exploiting lesser-known social platforms for niche markets, a tactic often overlooked but highly effective. However, the most underestimated strategy was focusing on authentic, engaging content. This approach, balancing data with human-centric content, created deeper connections with audiences, enhancing client satisfaction and loyalty. This experience highlights why budding entrepreneurs should not just rely on data, but also prioritize genuine engagement to build a resilient and adaptable business model.”

—Daniel Bunn, DB IT

17. Cultivate emotional resilience

“I wish I had known the significance of emotional resilience before starting my business. I used to take setbacks very personally, but I now understand that they are a normal part of building a business. Handling challenging situations and not letting them negatively impact your emotions is crucial for new entrepreneurs. Emotional resilience will help you learn from mistakes, bounce back quickly, and focus on your goals. It will give you exceptional strength that will help you face the ups and downs of running a business, ultimately making you more resilient and better equipped for success in the long run.”

—Gary Heath, Dad’s Own Products

18. Prioritize networking

“An invaluable lesson I wish I had known prior to embarking on my entrepreneurial journey is the significance of networking. As a new entrepreneur, I was solely focused on building and growing my business, but I overlooked the value of connections and relationships in the industry. Networking allows you to meet other like-minded individuals who can offer valuable insights, advice, and potential partnerships. It also helps you stay updated on industry trends and developments, which can be crucial for the success of your business.

“Moreover, networking can open doors to new opportunities and potential clients. By building a strong network, you can expand your reach and increase your chances of success. Therefore, it is important for other aspiring entrepreneurs to prioritize networking in their journey. Building connections and relationships may not seem like a top priority when starting a business, but it can greatly impact your success in the long run.”

—Amy Mangrum, House Buying Girls

19. A positive mindset drives entrepreneurial success

“Mindset is so important for the success of your business because it allows you to navigate tough times with confidence. It’s the leverage that can’t be taken away from you, giving you the fuel to continue on in the face of adversity.

“Every step in the early days of a business is difficult, especially for first-time entrepreneurs. There will be setbacks, failures, and disappointments, and your mindset will help you overcome the bad times. Mindset is the confidence to bet on yourself, even when other people don’t see the vision for your business. It allows you to fail multiple times, in different ways, and with unexpected negative outcomes, and still move forward. Mindset lets you see opportunity when everyone else sees doubt and despair.

“The resilience, optimism, grit, and stick-to-itiveness that you see in people who are doing big things come from mindset. For entrepreneurs at every stage of a business, it’s a positive mindset that frames experiences in such a way that we can continue to succeed.”

—Robert Brill, Brill Media

20. Community building enhances business growth

“Community building is crucial for new businesses. Involvement in the community allows for a deeper understanding of people’s needs and desires. Through community feedback, we can improve our products and marketing strategies, becoming more customer-focused. A motivated group can become vocal advocates for a brand, leading to natural promotion and business growth.

“Creating a community not only benefits your business, but also provides customers and fans with a sense of belonging. In the fast-paced world of commerce where transactions can seem impersonal, the community’s ability to foster a sense of belonging is invaluable. Prioritizing community building encourages feedback, organic growth, and the development of loyal customers who will enthusiastically support your brand.

“Investing in community building not only leads to a more successful business, but also to greater personal satisfaction for business owners.”

—Julian Patrick, Stovefitter’s Warehouse

About the Author

Post by: Brett Farmiloe

Brett Farmiloe is the founder and CEO of Featured, a platform where business leaders can answer questions related to their expertise and get published in articles featuring their insights.