3 Not-So-Obvious Things I Wish I Knew Before Starting My Business

Read time: 3 minutes

In September 2019, I was the Director of Financial Planning & Analysis at Harvard.

In October, I was not.

I quit my highly-regarded 9-5 job to become a solopreneur. In a flash, things changed. I went from earning an income to learning how to generate revenue. What seems like synonymous activities are drastically different.

Let me save you headaches by sharing the 3 not-so-obvious things I wish I had known before starting my business:

1/ Unless you repeatedly tell people you exist, you don’t exist

The moment you leave the organization’s bubble, you don’t exist.

As an employee, your professional network and artfully-crafted resume are the sources of credibility.

As a solopreneur, neither of those holds the weight they once did. When I left the organization, it felt like I was starting over with zero credibility.

This made me realize marketing is way, way, way, way more important than you think. If I were to do it all over, I would say:

• You must make a ridiculous investment in marketing, building a brand, and developing a digital presence.

• You must build a whole new set of relationships with customers, clients, partners, and collaborators.

• You must be the one shouting from the rooftop.

Talking about yourself will feel super awkward and sometimes obnoxious, but if you don’t take the initiative, your business will die a slow-miserable death.

2/ Energy and attention are your most valuable resources (not time)

Forget what anyone told you; time is not a resource.

Time cannot be controlled, saved, or spent. Time is simply a measurement (just ask Aristotle). Your most valuable resources are energy and attention.

• Energy is the knowledge, money, physical strength, and stamina that you have to produce value.

• Attention is where you direct that energy.

Why do energy and attention matter?

Because these resources can be leveraged, and leverage is a force multiplier. It’s also how to get rich without getting lucky (just ask Naval).

3/ Different is more durable than best

Trying to be the best can be a foolish endeavor. Not a bad one, just a foolish one.

You’ll find a way to make a game finite by focusing on the endgame, not the process.

The problem with being best is it’s time-bound; it’s fixed in a moment. Someone bigger, faster, stronger, or luckier will come along and take your crown.

Instead of worrying about being the best, focus on being different. Discover what drives you. Figure out what makes you unique.

Once you do, double down on your “different” because you’ll go from playing a finite game with many competitors to an infinite game with none.

That’s much more durable.

And durable will last a lifetime.