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A key rule of thumb is to test as much as possible before officially launching. Market research can be tricky—asking people “Would you come if I opened an Italian restaurant here?” doesn’t always give reliable answers. But for certain types of businesses, especially low-cost ones like cleaning services, you can start small and validate demand right away. Go out, find a few clients, and talk directly to potential customers. Many businesses allow you to do this kind of groundwork, reducing risk before you fully commit to launching.

If you’re starting a business for the first time, one of the most important steps is to carefully decide what kind of product or service you want to offer. Take the time to really think it through and brainstorm your ideas thoroughly.Many people see an opportunity and jump in right away without proper preparation. They often don’t fully understand why they are selling a particular product or offering a certain service. This lack of clarity can lead to problems later on.That’s why the most crucial step is to deeply consider what you’re offering, why you’re offering it, and how it will provide value to others before you move forward.

If you're just starting a startup or small business, the most important thing—based on my experience and those I've worked with—is to focus entirely on your product or service. Whether you're offering a service, selling a physical item, or building a SaaS platform, make sure it's something people genuinely want. Then, identify exactly who those people are. Spend 99% of your time refining your product or service and understanding your target audience.

My biggest advice to anyone starting out is to avoid setting expectations for how long it will take to experiment and find your footing. Unless you're following a franchise model, no one has done exactly what you're trying to do—so there’s no set timeline. And since time is money, the more you can explore, test, and learn while working another job or having some financial support, the better. Giving yourself that buffer will allow you to figure things out before fully going to market, which can make a huge difference in your success.

Don't start coding, hiring, or building anything until you've sold the idea. Your first job is to talk to potential customers, deeply understand their problems, and validate that a real solution is needed. This is a lesson I’ve learned over multiple ventures—this being my third. In fact, we didn’t write a single line of code until we had a signed contract in hand. That shift has fundamentally changed our company culture: we stay commercially focused, but always grounded in solving real problems. It’s not about pushing my idea onto the world—it’s about listening to the world and building what it actually needs. So, always sell first. Get proof that someone is willing to pay before you start creating.

One of my mentors shared something I always come back to — it comes down to three key things. First, self-motivation. You’ve got to have that inner drive to go after what you truly want. Second, prioritization. You need to know what matters most and what can wait. And third, mentorship. Find someone you trust, someone who can guide you. And along the way, don’t forget to trust yourself too — if something feels off, listen to that instinct.

The rule of thumb I followed—and one I still believe in—is that it's perfectly fine to change direction, to explore different paths, or even juggle multiple interests at once. If you don’t have everything figured out from the start, that’s completely okay. What matters most is getting out there and gaining real experiences. Don’t fear trying, and don’t fear failing. Every attempt, every bit of exposure, teaches you something new—and it's that very exposure that will eventually lead you to your passion.

Keep trying—because you're going to hear a lot of "no's," and the key is to get comfortable with rejection. I even have a note taped to my desk that says, "Try to get rejected—to get over the fear of being rejected." As an entrepreneur, especially in the beginning, you'll face resistance and doubt, often from others and sometimes from yourself. But success comes from showing up over and over again, even when it feels like no one believes in you. Persistence is what separates those who make it from those who give up. You only truly fail when you stop trying—so keep going.

You know, it’s different for everyone, but a good starting point would be reading the book Emotional Intelligence. It’s a great introduction to understanding EQ. If you don’t really know who you are — and many people don’t, especially when starting a business in their 20s — take time to explore that. Talk to the people around you. Ask them how they perceive you. What do they think are your biggest weaknesses? It’s not always easy to hear, but getting that honest feedback early on can save you a lot of trouble later.

Follow your heart and trust your instincts—they’re often more powerful than you realize. I’ve always had a strong gut feeling about the things I pursue, a sense that tells me, “This needs to happen, this will work.” When I’ve shared my ideas with others, the response has been overwhelmingly positive—people are often surprised and inspired, saying they never thought of it that way. That kind of validation is encouraging, but it starts with knowing what truly drives and excites you. Figure out what you’re passionate about, what you’re naturally good at, and what energizes you. Then, surround yourself with the right people who believe in the vision and can help you bring it to life.

If there's one key piece of advice I'd give to anyone in business or entrepreneurship, it's to beware of the tyranny of the now—the intense pressure of immediate problems like a lost contract, a team member leaving, or an unexpected crisis. These challenges feel overwhelming in the moment, but they are temporary. Don't let short-term pain lead to emotional decisions that could harm your long-term vision. Instead, stay focused on why you started—your original dream, belief, and purpose. The present will pass, but your future is still in your hands. Handle the moment, but don’t let it define you.

Stay liquid — hold on to as much cash as possible. If you're ready to go all in, be prepared to make serious lifestyle adjustments — even something as extreme as crashing on a friend's couch with just a sleeping bag. You need to fully grasp that whatever you're planning for your business — the launch, the execution, everything — will likely take longer, cost more, and face more uncertainty than you expect.Expect delays. Expect higher costs — for materials, labor, permits, and everything in between. The market is volatile, with unpredictable factors like tariffs, labor shortages, and regulatory slowdowns.Talk to someone who has been through exactly what you're about to do. Ask them how much additional risk they see in today’s environment. Learn from their experience — and move forward with caution.

Get really good at listening to your own gut. You're going to receive a lot of advice—everyone will be convinced they know exactly what you should do next. Some of that advice might be valuable, but I always take everything with a grain of salt. What’s more important is learning to pause and tune in to your own instincts.We're actually in one of those moments right now—a bit of a pivot, a shift in focus. And instead of speeding up or seeking even more input, what I really need to do is slow down, step back, reflect, and listen closely to myself. It’s about thinking things through and making sure I feel truly confident about the direction we’re taking.

I don’t want to pretend like I know how every business works—because I don’t. But in my experience, with my own business, I truly believe the most important thing is being fully present. You have to live in the business. I just don’t see how this can be done remotely. Even if it could, I think there’s so much value—in terms of company culture and team morale—in working alongside your people. If a truck shows up and there's a lot of work to do, you jump in and help unload. If there’s trash on the floor, you pick it up. As a business owner, you lead by example.

I'd suggest ignoring the common advice in business culture that tells you to hack your time, boost productivity, or master time management. Instead, shift your focus to managing your energy. That change made a profound difference in my life. So many of us are walking around nearly depleted—burned out, overwhelmed, and under constant stress. The real antidote isn't doing more or achieving more, but figuring out how to stop the energy leaks and restore what fuels us.

There are two books I always recommend to entrepreneurs just starting out, and one of them is Profit First by Mike. The book is a game-changer. Coming from the corporate world, I had a traditional mindset about finances, but this book completely flipped that perspective. It taught me to prioritize profit from day one and helped me restructure how I manage cash flow and budgets in my business. The core takeaway for me was that if I'm running a business, the goal is to pay myself—not just cover expenses. It really drove home the importance of having a solid handle on your cash, because no matter how brilliant your idea is, if you run out of money, you're done.

I strongly advise anyone in business to pay close attention to both internal and external factors. Your internal state significantly impacts how you present yourself in business, from pricing discussions to interactions with team members, freelancers, and contractors. What I mean by this is simple—do the work. Invest in yourself by hiring a coach, whether it's a business coach, branding coach, or life coach. I've been fortunate to work with various coaches, and their guidance has directly shaped the way I show up and perform in my business.

Staying organized in your business is crucial—whether it's managing finances, streamlining operations, or preparing for future team growth. Keeping yourself structured ensures efficiency and clarity.At the same time, don’t be afraid to experiment. However, it's essential to track the results of those experiments. For example, if you're investing $2,000 a month in marketing, regularly assess its effectiveness rather than assuming it's working. Similarly, don't blindly trust someone just because they claim to be an expert—verify their expertise.Many businesses, even large ones, fall into the trap of making assumptions. They assume strategies will work, that hires are competent, or that expenses are justified, without proper evaluation. Avoiding these assumptions and staying analytical can make a significant difference in your success.

Fail fast and learn quickly. Don’t get attached to your idea—get attached to success. Focus on your customers, not just the idea itself, because ideas evolve. Who you are today won’t be the same as who you’ll become if you succeed.

Keep communicating—because no business thrives in isolation. You need customers, and they need to hear from you. You often rely on partners, whether they are employees, suppliers, or collaborators in government or other sectors. Your family and friends also play a crucial role in your journey. The key is to ensure alignment between your actions and their expectations. Miscommunication or misalignment is what leads to conflict. So, if there's one essential principle to follow, it's this: keep communicating.

Have as many conversations as possible and get comfortable doing so. The sooner you adopt this mindset and openly discuss your ideas, the more clarity you'll gain. Talking things through with others helps refine your thoughts, gather valuable feedback, and shape your plans effectively. Additionally, it increases visibility—people will recognize you, understand what you're working on, and spread the word. The earlier you embrace this approach, the better. Many get caught up in the building phase, assuming that simply creating something will attract attention. But in most cases, success requires proactive outreach and engagement.

Be extremely intentional when hiring and managing your team. Avoid compromising on talent just to fill positions quickly. It's tempting to think, We need more people because we're growing fast, but hiring the wrong people can be more detrimental than having fewer, highly capable individuals. A strong, lean team will always outperform a larger, less effective one. In fact, I believe that at IQ, we're achieving far more now with fewer people than we did in the past.

When starting a business today, it's essential to understand that people buy from people, and they love to buy. More than just products or services, they buy into stories. For someone to purchase from you, two things must be true: they need to know you and trust you. The best way to achieve this is by building a strong personal brand and crafting a compelling signature story. This not only helps you stand out but also differentiates you from the countless others offering the same thing.

Be flexible and open to learning. Many people step into the professional world expecting to lead right away, but success often starts with mastering the basics. If you're assigned a small task, give it your best effort—every job is an opportunity to grow. Developing the necessary skills and understanding the business takes time, so be patient and adaptable.Additionally, focus on building strong networks. As the saying goes, success isn’t just about what you know, but who you know. The connections you make can open doors, and the way people speak about you when you're not around can shape your opportunities.

Be prepared to trust the process. When you start a business, you’re filled with ambition, high hopes, and excitement about your idea. You imagine instant success, skyrocketing straight to the top. But in reality, for most people—including nearly everyone I’ve interviewed on my podcast—it doesn’t work out that way. Mistakes happen, unexpected challenges arise, and many ideas don’t pan out. There are countless unknowns, and the journey is rarely as smooth as you expect. No one wants to hear this in the beginning, and it’s easy to believe you’ll be the exception. But in truth, embracing the process is essential.

Stop overthinking and just start. Don't waste time crafting a perfect 300-page plan or making sure every little detail is in place. If you wait for perfection, you'll never launch your business. Take action now and refine things as you go. Step one—register an LLC. Not sure about the name? Pick one and file a DBA later if needed. Don't let small decisions hold you back.

Learn about exits early—think about them from day one. Even if you're just starting out, understanding what happens in a business sale is crucial. We learned this firsthand in our first business. Due diligence is a powerful tool for any entrepreneur. Most people only go through it once in their lives when selling a business, which is a mistake. In today’s world, especially for young entrepreneurs juggling multiple careers and side hustles, knowing how due diligence works gives you insight into the buyer’s perspective. More importantly, it helps you scale your business strategically. One of the fastest ways to grow is through acquisitions.

Make sure you have a strong idea—something valuable that people will want to buy, not just a cool technology you hope to sell later. Build the right team because even the best ideas fail without the right people, which is why many companies don’t go far.

You must have a well-defined go-to-market strategy in place, because without a clear plan for driving sales growth, success will be out of reach.

What I’d say is that being a one-trick pony, whether in sports or startups, just isn’t enough. In the startup world, you need to be versatile. You can’t just be the "home run hitter" or the "heavy hitter" who relies on a single skill. You need a well-rounded set of capabilities. You have to master what you’re good at, then build on that by adding complementary skills. At the same time, you need to identify areas where you're not the best and be smart about outsourcing those tasks. It's all about having a multi-tool approach and focusing your energy where it makes the most impact.

Value your time and yourself far more than you do now, because you don’t truly realize how little respect you have for yourself until you reach a breaking point. You’ll find yourself thinking, "Wow, it’s 11 PM, and I haven’t made any progress on my work. I've sat through a hundred meetings, yet none of my actual responsibilities are handled." Now, you’re left with no choice but to pull an all-nighter, which only leads to burnout. If you don’t respect your time or yourself in the process, you risk stretching yourself too thin and running out of energy. Burnout is a tricky thing—it’s like a sickness that gets worse each time. The first burnout may only take a couple of days to recover from, but each subsequent burnout takes longer to bounce back from. Eventually, you may reach a point where you’re so burned out that you lose the drive to do anything for a long time.

Engage in as many conversations as possible. It’s easy to get caught up in your work, focusing solely on tasks and goals. However, networking is incredibly valuable, and it's not just about connecting with people from whom you want something. Every conversation holds potential—whether it's gaining insights into user experience, receiving valuable feedback, or discovering connections you never expected. Being open to conversations and staying approachable can lead to unexpected opportunities. While you shouldn't work for free, taking a few minutes for a quick chat, meeting someone at a conference, or inviting them for coffee is a great way to learn about their work and broaden your network. You'd be surprised how many new opportunities can arise, and how often you'll find connections through those "six degrees of separation."

Focus on something you're truly passionate about. Throughout our conversation today, we've touched on a lot of different aspects of marketing. For me, it all started with an interest in understanding how people think and communicate, which is at the heart of marketing. From there, I moved into advertising, which is a part of marketing, then digital marketing, adding another layer, and finally, analytics, which offers a different perspective. I've enjoyed diving into each of these areas because marketing is a passion of mine. Even when working on a business that might take longer to see results, as long as it's in a field I'm passionate about, the journey doesn't feel long because I'm still enjoying the process of learning. So, my advice is to ensure you're working in an area you genuinely care about, not just one that seems like a good business opportunity.

The number one piece of advice I would give is to learn how to identify A players early on. It's not just about recognizing the highest performers, but understanding how to spot an A player and why they stand out. You need to ask the right questions to determine how skilled someone truly is. One method that’s been really useful for me is when someone claims they can do something, I ask them to share their screen and show me the evidence right away. Just get them to demonstrate exactly what they can do. If they respond by saying they need someone else to give them access to something before they can show you, that’s a red flag. It might be an unfortunate obstacle, but that behavior signals more of a B player mindset to me.

There's one thing I see people often overlook, and it's something I personally struggled with—recognizing that your greatest asset is your team. One book that really resonated with me is People Over Profit, which emphasizes the importance of treating your people right. When you prioritize and invest in your team and focus on improving the customer experience, profit naturally follows. In that book, they argue that people should always come before profit, because when profit becomes the top priority over people, you're setting yourself up for turnover. And when your team starts to leave, it negatively impacts the customer experience. This leads to both employee and customer churn, which creates a vicious cycle that’s hard to break.

One key rule of thumb is to prioritize activities that directly drive revenue, rather than getting caught up in distractions. What I mean is that many new entrepreneurs often get bogged down by things like designing the perfect website, picking the right logo, deciding on brand colors, or obsessing over the details of their LLC formation. While these things are important eventually, they can easily become a way to avoid the real work that actually moves the needle—like talking to potential customers, making sales, and focusing on the actions that will truly grow the business.

I always say, if you're going to do something, commit fully—go all in. I've seen too many people start a startup with one foot in and one foot out, and that makes everything harder. It creates confusion and feedback that isn’t really reflective of the situation because you’re not fully invested. You have to be ready to take risks—real risks—because that's the only way you'll find out if it’s going to work. If you’re not all in, you can’t ask anyone else to be. You can’t ask others to make sacrifices if you’re not willing to do the same. But, it’s also important to know when to switch gears and shift out of that mode at some point. That’s a tough thing to navigate.

If you’re venturing into a small business or launching your own startup, mastering the art of focus is essential. When you truly concentrate, you avoid spreading yourself too thin and gain clarity on what you need to prioritize. A strong focus allows you to identify where you can make an impact and helps you recognize the importance of seeking out partnerships to fill any gaps in your expertise. In short, prioritize learning to focus, and always maintain that focus.

The most important thing to remember is not to enter a startup with the sole goal of making a lot of money. Early on, I made that mistake, thinking that having an equity stake in a company would lead to significant wealth. While it's true that you can earn money in various ways within startups, if your primary motivation is to get rich, you might end up feeling disappointed. The reality is that more startups fail than succeed, and it’s a challenging environment.

One major mistake I made early on was not investing enough time or money into solid business bookkeeping. I mixed my personal and business finances for a while, which created quite a mess, and I underestimated how complex it could get. Now, having a fractional CFO has made a huge difference. Looking back, I wish I had prioritized accounting from the start, even if it felt financially tight. Strong bookkeeping and accurate records for expenses and revenue can really improve your position and help avoid potential trouble with the IRS. Thankfully, I didn't face any issues, but it was a close call.

It's easy to get caught up in whatever you're involved in right now. It feels like it's everything—your whole life and career wrapped up in it, which is great. But remember, at some point, it will come to an end. That could be in two years, ten years, or even twenty, but most likely it’ll be somewhere between two and ten. When it's over, you might realize that the most valuable takeaway from the experience isn’t the money you made or the accolades you received, but the relationships you built along the way. You could leave feeling like you failed while being wealthy, or feel like you failed and be broke. We often try to measure success or failure by tangible outcomes, but the true worth often lies in the connections we form.

Leverage the expertise of advisors—they’re invaluable. Even after spending 20 years in the corporate world, I sought out advisors for my company. One in particular, who has since passed, often reminded me, “Only do what only you can do.” That’s a lesson worth exploring further!

Be relentless in your focus on business growth by identifying what sells and prioritizing effective marketing and sales strategies. In a startup, even the best products or services won’t succeed without visibility. Money creates options, so it’s essential to concentrate your efforts. If you’re unsure of your next steps, dedicate time each day—like the first 40 minutes—to learning something new and applying it. This proactive approach can significantly drive growth and help you make an impact.

Please take the time to do your homework. Before launching anything, I highly recommend completing a business plan, identifying your target market, conducting a SWOT analysis, and setting SMART goals. Many people underestimate the importance of this preparation, but it's crucial to understand potential target markets, analyze competitors, and define your niche to ensure you stand out. Being thorough can help you avoid impulsive decisions that could lead to serious setbacks. Make sure you’re fully prepared before moving forward.

I believe a lot of it comes down to having self-confidence—truly being able to stand behind what you’re doing. For instance, I’ve always thought I could never be a salesperson; I wouldn't be able to sell you a car. But when it comes to starting something new, you’re essentially selling yourself, and we’re always doing that in our interactions with others. If you don’t genuinely believe in what you’re launching, it’s probably not the right time.

When people think of entrepreneurship, they often envision startups and creating something new from scratch. However, I've come to appreciate entrepreneurship through acquisition as a valuable alternative. With 99.9% of American companies being small businesses and many baby boomers retiring without viable options for selling their businesses, we face a significant loss to our economy. I believe that by acquiring and running a small business, I can contribute meaningfully to preserving its legacy and vitality for the future.

I highly recommend that every business create a clear written plan outlining their goals and the steps to achieve them. This living document, which you should review weekly, helps you stay focused and avoid getting sidetracked by tempting opportunities that may not align with your objectives. It also allows you to track your progress, especially during times when it feels like you’re just treading water. Moreover, having a solid plan enables you to filter well-meaning advice from friends and industry peers, so you can listen thoughtfully without losing sight of your vision. Many founders get distracted by external input, but a clear plan keeps you grounded and on track.

I strongly encourage them to remain adaptable and curious, engaging in as many conversations as possible. Whether you call it pivoting or something else, it's crucial to refine not just your product-market fit but also how you communicate your vision. The way you articulate the potential of what you’re building is always evolving, especially in those initial months and years. Staying open to feedback and viewing every interaction—like your elevator pitch—as a learning opportunity is key. Effective messaging is vital for success.

Take the time to do your homework and learn from our mistakes. Conduct thorough due diligence and crunch the numbers. If you're launching a new business, research the market for your product, confirm there's demand, and assess your resources. Consider how long you can operate without making a profit. Make sure you’re well-prepared and have the resilience to weather the early stages, as most businesses take time to become profitable. Do your calculations carefully before diving in

When I first launched my mental health practice, my partner and I had a clear vision, but we ended up taking a different path. I tried projects like grant writing for nonprofits and career coaching for social workers—neither of which aligned with my strengths or passions. Despite recognizing a significant need for the latter, it never felt right as a full-time pursuit, and none of these ventures succeeded as I had hoped. Recently, I finally listened to the persistent inner voice urging me to focus on what I truly know: my experience as a lifelong patient after two open-heart surgeries. That voice had been quiet for a while but eventually became impossible to ignore, reminding me to embrace my true calling. I believe many business owners experience similar instincts; it’s crucial not to overlook them.