5 Things I Wish I Knew Before Starting My Business

Hello friends! It’s a rainy day here in Jersey, and as I sit with my heater on (because, because it’s always cold in my office), I’ve been reflecting on my entrepreneurial journey. Starting my own business has been an emotional adventure—truly a roller coaster of experiences. It’s been both challenging and rewarding to be the quarterback of my own venture, making the final decisions and taking full responsibility for their outcomes.

Today, I want to share with you the lessons I’ve learned the hard way, so hopefully, you can avoid some of the pitfalls I encountered. Here are five things I wish I knew before starting my business:

1. Commitment Is Everything

The level of commitment required to build a successful business is similar to that of your most important relationships. Think of your business as a person—whether it’s like a spouse, child, parent, or sibling. The level of commitment you put into your business directly correlates with the rewards you’ll receive.

When I worked in corporate America for over a decade, I had already built my brand, reputation, and knowledge base. I was in a comfortable position. But when I opened my consulting business, I had to start from zero, which required an incredible amount of commitment.

I often compare this to my relationship with my husband. When we met, beyond the superficial aspects, I knew he was someone I could rely on and even open a business with. That fundamental trust and belief in our partnership allowed me to commit fully to our relationship.

Similarly, you need to bring that same level of belief, time, and positivity to your business. It’s a promise, an investment of time and dedication. When things get dark—and they will—your commitment is what will keep you moving forward.

If you’re not able to commit fully, don’t do it. It sounds harsh, but doing things halfway is simply not worth the stress.

2. Create a Financial Cushion

Money, money, money! When starting a business, don’t just think about a financial cushion—create one. You will always need more money than you anticipate. The more you invest, the more you’ll grow, and the faster you’ll grow.

Whether it’s your advertising budget, technology expenses, or investments in yourself through education or appearance, there are countless variables that require funding. While we all try to move forward with what we have or can afford, always plan for extra.

My advice to all my clients is to budget at least a 10-15% cushion because you will always spend more than budgeted. Having that extra buffer will help tremendously when unexpected expenses arise—and they always do.

3. Do It Because You Love It

This is huge—do not start a business unless you truly love what you’re doing. The fruit of your business should bring you joy.

I often think about bakeries because opening one would bring me so much happiness. If you’re going to open a bakery, make sure it’s because you want people to feel joy from your products. Do it because you love it.

I provide consulting services because I want to help people—specifically small business owners like my parents who bring positivity to their communities while making their American dreams come true. This passion is what gets me out of bed in the morning, especially during tough times.

There will be dark days, and loving what you do makes those days lighter. I’ve seen second-generation business owners inherit their parents’ businesses and hate running them. Sooner or later, those businesses stop flourishing.

How you treat your business reflects in how your business treats its clients, how it’s branded, and how customers perceive it. Your passion (or lack thereof) shows in every aspect of your business.

4. Be Selective About Who You Share Your Business With

This is crucial: Only share your business plans with people who will support you. This includes your closest relationships—partners, immediate family members, best friends, and coworkers.

Until you start making money, limit who you tell about your venture. Surround yourself with positivity and people who will be genuinely happy for you. Avoid sharing with those who might be jealous or don’t need to know.

I wrote in my notes: “Do not tell your coworkers about your business adventure or your bestie cousin. Nothing hurts more than when you share something this intimate with your bestie, and they start being jealous or simply sending you bad vibes and being negative with you.”

This happened to me, and nothing is harder than dealing with someone who doesn’t believe in you or is secretly jealous. When you’re in such a vulnerable position—because running a business is humbling—negativity can be devastating.

This applies to all types of businesses, including becoming an influencer or public figure. Just because someone posts cute pictures or does modeling doesn’t mean it’s not work. It’s still a business where you put your mind and soul into it.

Only share with people who will bring good vibes. Doubts from people you think are close to you hurt the most.

5. Surround Yourself With Positivity

This connects closely with the previous point but deserves its own emphasis. In the early stages of your business, you need to protect your mindset and surround yourself with positivity.

Building a business makes you vulnerable, and you need supportive people around you who believe in your vision. Negativity can quickly derail your confidence and motivation.

Create a support system of people who encourage you, offer constructive feedback, and genuinely want to see you succeed. This positive environment will help you navigate the inevitable challenges of entrepreneurship.

Final thoughts

These are the five things I wish I had known before starting my business. I hope they’re helpful as you reflect on your own entrepreneurial journey. Remember that every business owner faces challenges—it’s how we respond to them that defines our success.

Until next time, have a great day!

As a business strategist, I’m always looking to work with different types of businesses to help them reach to the next level. If you’re interested in creating a solid plan to scale or are thinking of transitioning from corporate to your own business, or simply looking for a strategic consultation, feel free to get in touch with me via below!