My Advice for Founders: Five Essential Lessons I've Learned as an Entrepreneur

Building a business is like navigating a maze, filled with unexpected turns, dead ends, and breakthroughs. Over time, I've gathered a collection of lessons learned from missed opportunities, dis-proven hypotheses, and the invaluable feedback of customers. While I could write an entire book about these experiences, I've distilled them into five essential pieces of advice for entrepreneurs.

1. Fall in Love with the Problem, Not the Idea

One of the most important lessons I've learned is to be passionate about solving a problem, not just about an idea or solution. The most successful entrepreneurs I know are deeply committed to addressing a specific problem —like helping people feel powerful at work —and are open to various ways of solving it. The romanticized notion of a genius idea striking in the middle of the night is more myth than reality. While your initial idea may set the course, it’s rarely what drives long-term success. My advice? Focus on the problem that fuels your passion, then be open to exploring many paths to solving it.

2. Be a Revenue-First Entrepreneur

Many aspiring entrepreneurs believe the first step is to secure funding, often by giving up equity in their company. However, advice from seasoned entrepreneurs taught me a different approach: be revenue-first. Instead of pouring money into business cards or websites, focus on generating revenue from day one. In my coaching business, I applied this principle and generated over $100,000 in my first year —without a website, business email, incorporation papers, a business bank account, or even a brand name. My focus was on building relationships and closing deals. The lesson? Making money is an entrepreneur’s superpower, and it’s more powerful than raising it or spending it.

3. You Are THE Asset

In the early stages of my entrepreneurial journey, I didn't prioritize my well-being. It took me years to realize that as an entrepreneur, I am an asset. And like any asset, I need to be cared for, maintained, and protected. Now, I follow a daily meditation practice, see a therapist, exercise regularly, and keep my personal environment in order. These practices aren’t luxuries —they are essential to sustaining the energy and resilience needed to lead a business.

4. Embrace Setbacks as an Experiment

As an entrepreneur, being wrong, receiving negative feedback, and facing rejection are part of the game. Coming from a corporate background where risk-taking was often discouraged, this was a tough adjustment. But a mentor helped me reframe my perspective: instead of seeing failure as a predictor of future outcomes, I began viewing it as part of the learning process. We started focusing on low-cost, minimum-viable experiments to test ideas. This shift in mindset helped me see what initially felt like failures as crucial steps toward success. Remember, the goal isn’t to fail faster; it’s to succeed faster.

5. Be Selective About Whose Advice You Follow

Not all feedback is created equal. The most credible insights come from paying customers who have used your product. While prospective customers, industry influencers, friends, and consultants might have opinions, the ones that matter most are those who have actually invested in your product. As an entrepreneur, it’s vital to listen to those who understand your problem, target market, objectives, and business values. If they lack this context, their advice may not be worth following. Be choosey about who you listen to and make sure they have the experience and knowledge to offer valuable insights.

Wrapping it Up

Building a business is an ongoing learning process, but by focusing on these five principles, you'll be better equipped to navigate the challenges and seize the opportunities that come your way. Remember, it’s not just about having a great idea; it’s about solving a meaningful problem, generating revenue, taking care of yourself, learning from failures, and being selective about whose advice you take. These lessons have made all the difference in my entrepreneurial journey, and I hope they serve you well in yours.

P.S. I hope you enjoy the cover photo from the early days of PILOT Inc. ! They were full of brainstorming sessions, sticky notes, and makeshift office spaces. I wouldn't trade them for the world.