I have learned these 5 lessons in the hard way, so you don’t have to | Entrepreneur

Almost 20 years ago, when my company was still in its infancy, I posted vacancies with the text: “New software company needs someone to answer telephones and e-mails, to sell, support customers and manage my correspondence while I’m gone. No salary, no benefits, only commission position.” I earned modest income from the software product that I had built, but between support sticks, sales questions and product development-upstairs my full-time job I have time to hire my very first employee.

Looking back now it is a miracle that everyone has responded. But one person did the improvement and that first rent became one of our longest employees. Although I have not regretted how it has become, I have learned a lot since then, including how much great potential candidates I have probably scored with that off-the-manchet advertisement. Like many early entrepreneurs, in the beginning I relied more on instinct and grit than on experience and strategy.

Starting a company has been one of the most exciting and fulfilling chapters of my life – but it is also unpredictable, humiliating and often much more difficult than it seems from outside. Along the way I learned so many valuable lessons – many of them in the hard way. Here are a few pieces of hard -earned wisdom that I wanted me to have known from the first day.

Related: I wish I knew these four things before I started my own company

1. Build a company that feeds you every day

Lesson number one: you have to love what you do. If you don’t, Burnout will sneak you soon. Starting a company only because it sounds exciting, because you like the idea of ​​entrepreneurship, or because you want to be your own boss, is not enough – the first energy will only bring you so far. The daily routine of entrepreneurship is full of problem solving, setbacks and way too many hours. Without a real passion and drive for the problem that you solve or work itself, you will probably lose momentum or leave early.

Every task will not excite you, but the larger whole should. Keep asking yourself: am I excited to go to work today? If the answer is more often than not yes, you are on the right track – and much more likely to find sustainable success.

2. Feel comfortable to do it all – until you don’t have to

In the early stages, hands-on are the fastest and cheapest way in every part of the company to understand your activities from the inside. You will quickly learn what works, what not and what you have to delegate when you grow. When I started my software company, I trusted my lived experience and basic knowledge of accounting, business administration and programming. Although many entrepreneurs choose to work with a partner or team from the start to fill in the gaps, I was able to build the software, manage daily activities and grow the company without helping or financing external. This has set me to start the company completely, and we are still today.

Nowadays even with nearly 20 employees, a varied skills continue to serve me. I no longer have to do everything myself, but I can participate in a development meeting and assess whether projections are realistic. I understand our financial picture and tax obligations well enough to make informed decisions and to keep the costs low. Evaluate your own transferable skills and embrace the opportunity to learn what you don’t know yet. The approach of the entire hands-on-cover is not forever sustainable, but the more you immerse yourself now, the better rested you will be to hire, lead and scale with confidence.

Related: 5 things I wanted someone told me before I became CEO

3. Always search for the win-win (or make it)

It is never logical for me to enter into a business relationship, unless both parties leave better. There are two results in each negotiation: the objective value (the material outcome of the deal) and the subjective value (how each party thinks about the outcome). In my experience I have learned that subjective value is often much more important, because how someone thinks about a partnership is their openness to work with you again.

I always strive to build long -term relationships with my employees, suppliers, partners and customers, so I lean much more about the subjective outcome of negotiations, giving priority to trust and mutual respect over the short -term profit. If you can consistently make results where both parties are heard, appreciated and feel satisfied-even as compromises are closed, you build a reputation that opens more doors than a one-sided deal could ever.

4. Get up and pronounce

If you want to be part of a meeting, a project, an event or a striking engagement – don’t wait to be invited. Early in my career I often assumed that if people saw value in my work, they would ask me to contribute. But after a decade of climbing the business ladder and two more building my own company, I learned that the most valuable opportunities rarely land on your lap – you have to actively search them.

Positioning yourself as a thought leader takes eagerness, interest and trust to bring yourself forward – even before you feel completely ready. Whether you pitch an idea, do volunteer work to lead or reach out to work together, to possess your voice and make it known, is a powerful tool to have at hand. Especially for entrepreneurs who launch new companies, visibility and credibility are of crucial importance for building brand recognition. The opportunities are there if you want them – you just have to go after them.

Related: Do you want to become an entrepreneur? Start with these 4 simple steps.

5. Lead with honesty and integrity

It may sound simple, but unfortunately honesty and integrity are scarce in today’s business environment. For me, these are non-negotiable for building a company that deserves long-term trust. Treat your employees, customers, partners and suppliers with the same respect and honesty that you would expect from them. I push my team to go one step further and continue to do the right thing for our customers – whether someone would notice it or not. If this standard becomes part of your corporate culture, it will define your brand over time.

I believe that this leadership approach is one of the main reasons why our employees have an average term of office of eight years, why we have maintained the same high -quality suppliers for more than ten years and why our customer turnover is exceptionally low. When a customer knows that your company works with such high integrity, they will not go anywhere else because they know that they will not find that level of services anywhere else. In a competitive market this is perhaps your strongest distinctive factor.

No two entrepreneurial journeys are the same, but the basis on which you build your company forms everything that follows. The lessons will come on you quickly, but wisdom will only linger if you are willing to learn while you go. Lead with goal, stay curious and never stop refining your strategy.