Be motivated to truly understand what you’re getting into, because in the beginning, all the focus will be on you. If it’s something you’re passionate about—something you genuinely care for and love doing—make sure you have a clear understanding of what that journey involves.

My single, non-negotiable rule is simple: listen more than you speak. Equally important for anyone entering business is to understand that government is typically not an ally. Speaking from years of experience buying and selling a wide range of businesses — car washes, gas stations, convenience stores, development and operating companies, trucking firms, woodworking shops, and more — I’ve found government involvement often creates friction for entrepreneurs. Its focus tends to be on compliance and oversight, not on fostering individual business success.

I’ve learned that businesses rise and fall with people, not spreadsheets. When I started with a couple of partners, those relationships proved invaluable—mentorships, the right connections, the right centers of influence. You can’t figure it all out on your own. There’s a saying: nobody cares how much you know until they know how much you care. That applies to both your internal team and external partners. If you want to build something lasting, you need to show genuine care—not just impress people with numbers or how smart you are.

Many startup CEOs and entrepreneurs often get stuck on their first idea, treating it like their baby. They hold onto it for too long, draining resources and relationships instead of adapting. The key is to listen to the market and your customers—they’ll guide you in the right direction. Pivoting or iterating isn’t failure, even if it feels that way at first. It’s simply a shift in mindset toward growth.

Forget about having a traditional work-life balance. I’ve heard this echoed by many other startups and small business owners, and even a few well-known entrepreneurs. Personally, I set boundaries on only a handful of things—like my birthday and Christmas—but beyond that, most of my “social life” happens at conferences or networking events. I often work weekends, and it’s not unusual for me to be up working until 3 a.m. The night-owl side of me, probably the astrophysicist in me, makes that routine feel almost natural.

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.