8 Lessons I Learned From Being an Entrepreneur

It started with a pair of pants. ??

One day, my husband asked me to buy him a new pair of jeans, one of those "Honey, can you pick up ___ from the store on your way home?" things, but I bought the wrong size. As a mother of girls, I know all there is to know about teen girls' fashion, but almost nothing about men's clothing. Wanting to exchange his jeans for the right size, I searched for the receipt, but couldn't find it. It occurred to me how often this small annoyance happens. It’s ironic, given that we’re living in a world of consistent connectivity, with digital services at our fingertips, but we still have to deal with tiny bits of paper to return something.?

That's when the light bulb moment happened ??. Paper receipts suck. The then-current digital options were buggy, didn't sync with phone upgrades, or required 50 different apps from 50 different stores. There was no digital receipt leader in the market.

So I did what every Israeli or new immigrant to Israel does. I launched a startup.

I designed an e-receipt platform that was simple, user friendly, and fast, with a beautiful UI and exceptional UX. I brought in a partner to help transform my vision into a reality.

The feedback was overwhelmingly positive. I reached out to retail brands both large and small who were eager to go digital. Payment providers wanted to integrate with my company, and I even worked with California State legislators to help pass a government bill to make retailers go paperless.

Taking a leap of faith

For a variety of reasons - timing, fundraising issues, sales strategy - ReceetMe never became the success I had imagined. Notice how I didn't use the word failure. That's because it wasn't one. If I had never tried, never taken a risk, never put forth any real effort - THAT would have been a failure. I've never wanted to be the kind of person who is scared to take a leap of faith. I tried something. Despite my best efforts, it didn't work.

That's okay, because I learned so much about running a business, cultivating strategic partnerships, filing a patent, software development, and investor relations. Ultimately, I learned more about myself than anything else, and I wouldn't trade that for the world.

Here are the top 8 skills I learned from entrepreneurship that have helped my post-startup marketing career.

1. No one cares about your product

It sounds harsh, but it's true. Your product isn't interesting on its own. It's the value it provides that matters. Does it make something else faster, cheaper, or better? Does it positively impact the customer's life in some way? Now you have my attention.?

The term "satellite navigation software" sounds about as exciting as a root canal. Talk to me about how Waze can help me get from point A to point B faster and avoid traffic congestion, and now it’s exciting. Good marketing focuses on simplifying the complex into easily digestible and relatable messaging.

2. Reduce the tech talk

I've seen countless founders get up on stage and immediately jump into their technology. The audience loses interest in seconds. I once saw a few people actually fall asleep during a startup competition.

Unless you're presenting at a software engineering conference, avoid the detailed tech talk. If it’s genuinely relevant, leave it for later, but definitely don’t begin with it.

Instead, present a common scenario.

• “You know how you have to wait in line at the supermarket and ___? Our company fixes that problem by __.”
• “Isn’t it annoying when your internet connection goes down in an elevator or when driving under a tunnel? Our startup solves that with __.”
• "The last time I ordered dinner online, this happened ____. We're here to change that by ___."

Reduce the technicalities and focus on benefits. In essence, be a problem-solver for your customers and prospects.

3. Show your personality

Personality makes a big impact on how others see you and your company. It's okay to show your personality at a networking event, when meeting with key stakeholders, or on Zoom. Be down-to-earth, not a robot. ??

During a trade show I once attended, a group of CEOs took turns walking onto the stage set to music. As the third CEO walked out, suddenly there was dead silence. I guess the audio clip malfunctioned or something. Rather than acting flustered or upset, she simply said "Let's try that again", laughed it off, and re-entered the stage while the music played. It was funny, totally relatable, and everyone wanted to talk to her afterwards. She turned an awkward moment into a memorable one.

4. Customers first, investment later

Like many founders, I thought I had to raise money first and focus on the product later. Big mistake. I learned the hard way that investors may have been interested in my platform, but they wanted to see traction before moving forward. I should have focused on customer onboarding and fine-tuning the product first.

Customers should have been my #1 priority.

Lesson learned. I've taken that learning experience with me in my marketing career. Putting customers first is a must. They are your champions, the ones who likely know your product better than you do, and they are the most important part of a company's reputation and growth.

5. Explain it in 20 seconds or less

They don’t call it an elevator pitch for nothing. If you can't explain your business in 20 seconds or less, it's time to rethink it.

• What are your customers' biggest pain points??
• Maybe existing solutions are cumbersome, costly, or inefficient. How does your company mitigate these pains??
• Why are you better than your competitors??

Identify 3-4 winning points and use them consistently in your messaging. This includes your website, email marketing campaigns, social media posts, live streams, conferences, videos, and media coverage.

6. Surround yourself with people smarter than you

I don't like being the smartest person in the room. I prefer to be the dumbest one. Okay, maybe not dumb per se, but I believe in surrounding myself with people who are a lot smarter than I. That's because I can learn a lot from them. So much can't be taught, but rather learned through experience and knowledge sharing.

7. Don't let negative people hold you back

A famous poet once said, "The haters gonna hate, hate, hate, hate, hate".

But seriously, negative people can hinder your success. That being said, don't run your business plan by your family or close friends; they'll tell you what you want to hear. Objective feedback is what you're after.?

Just as it's important to surround yourself with smart people, you also want to be around people who genuinely support and encourage you. Whether you're in charge of your team's sales pipeline, PR strategy, or demand gen activities, seek constructive advice - it will help you achieve your goals.

8. Anyone can be a business leader (well, almost anyone)

Maybe it's because I live in the Startup Nation and am privileged to have been a tiny part of it, or maybe it's something in the Israeli air. Whatever the source, I believe that virtually anyone can be an entrepreneur or a business leader.?

You have to be:

• Genuinely passionate about something
• Open to new ideas, constructive criticism, and honest feedback
• A problem solver
• Empathetic
• Resilient

Whether you're an entrepreneur, executive, department manager, or an employee looking to advance in your career, these skills make for a great leader.