Starting and growing a new business is equal parts rewarding and challenging. Though planning and research are key, there are some lessons on entrepreneurship that can only be learned through experience.
Fortunately, new business owners can turn to the wisdom of those who have been in their shoes, allowing them to avoid critical mistakes and successfully get their company off the ground. To help today’s entrepreneurs get a leg up, the members of Forbes Business Council share their hard-earned insights on building a successful business.
1. Prioritize Scalable Tech Infrastructure
If I were to start a business today, I’d prioritize building a scalable tech infrastructure from day one. Early on, it’s easy to underestimate the importance of systems that could handle rapid growth, which can lead to operational bottlenecks. Investing in scalable solutions early saves time and resources in the long run. – Michael Cassau, SKROL Capital Inc.
2. Build A Strong, Adaptable Team
If I were to start a business today, I’d prioritize building a strong, adaptable team from the start. Early in my career, I focused too heavily on rapid growth, overlooking the importance of a solid organizational foundation. The lesson I learned is that long-term success depends on a resilient team that can scale alongside the business. This ensures both operational efficiency and sustainable growth. – Jeff Bordes, Astria Learning
3. Focus On Distribution
I would focus a lot more on distribution through partnerships, sales, marketing and a superior customer experience. If you can reach the right people quickly, and they know you are building for them, magic can happen. It doesn’t matter what you’re selling. – Lola Eniolorunda, VG Platform Inc.
4. Build Your Company Around Core Values
One thing I would change from past experiences is concentrating more on developing a proper company culture from day one. I would ensure that culture is instilled from the very start, thus building the company around strong core values that grow along with the business. This would bring about organizational growth and unity in the organization, all while building trust. – Pranav Dalal, Office Beacon
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5. Emphasize Joy And Alignment
Weaving joy and an emphasis on alignment into the framework of your business from the start would drastically improve outcomes for long-term business models, increasing overall success. Building a business from a purely logical frame of mind may look good on paper, but real profitability happens more often when everything is well-aligned and harmonious and there is joy within the company culture. – Sara Abbas, Ev0lver, Inc.
6. Seek Out A Diverse Team
If I were to start a business today, I would prioritize building a diverse and skilled team from the very beginning. This is because I’ve learned that a diverse team brings unique perspectives and solutions to complex problems, which is essential for navigating the challenges of the startup world. By leveraging the collective expertise of a well-rounded team, an entrepreneur can be successful. – Guadalupe Hayes-Mota, Healr Solutions
7. Lean On Innovation
One thing I’d do differently today is to lean heavily on innovation. For example, I would put AI at the very core from day one and make it a foundation of the business today. Too often, ignoring innovation early can lead to setbacks down the road. Early engagement can permeate into every aspect of the business. – Gajen Kandiah, Hitachi Vantara
8. Focus On Customer Needs
Focus on customers’ needs rather than product capabilities. Identifying customer needs and pain points is extremely critical to define the growth of the company. The product’s capabilities should be aligned with the customers’ needs. – Ashish Saxena, Innova Solutions
9. Take The First Step, Then Adjust Accordingly
Don’t try to figure everything out before you start. Instead, take the first step, see what you learn and adjust. Then repeat. You need intention and purpose but don’t overthink it and expect a perfect plan. Instead, consider what the market tells you and incorporate new information as you go. Being a more agile entrepreneur will work in your favor, especially in this high-change environment. – Patti Johnson, PeopleResults
10. Hire For Culture Fit
I’d prioritize hiring for culture fit over just skills. In past ventures, I’ve learned that a cohesive team aligned with the company’s values can adapt to challenges more effectively than one built on talent alone. – Angela Palo, Pinnacle Financial Services (PFS)
11. Follow Lucrative Emerging Trends
Follow the money. In emerging markets, this can be difficult as you aim to find product-market fit—but tech companies too often work in ideals rather than practicalities. Instead, focus on where revenue is growing and optimal, and lean your marketing and product into those areas quickly. You can quickly build amazing technology for the smallest segment of a market this way. – Cerys Goodall, Vetster
12. Focus On Results
I’d keep the focus on the activities that actually produce results instead of the ones I like. If I don’t like doing them, then I would find someone who does. I’d also get rid of people who don’t fit our culture faster and upskill the people who do fit. Most of all, I’d be more confident in my decision making and in taking action. – Joe Crandall, Greencastle Associates Consulting
13. Establish Strong Company Culture From The Start
If I were to kickstart a business now, I would establish a strong company culture right from the start. I’ve realized through experience that culture cannot be easily corrected—it serves as the foundation of everything. When your team fully embraces the vision and core beliefs, they become a force. If you prioritize this early on, you’ll have a team to work and evolve alongside you from the onset. – Kartik Jobanputra, Smartt-ai.com
14. Prioritize Agility Over Perfection
If I were to start again, I’d prioritize agility over perfection. Past ventures taught me that while planning is essential, market dynamics require swift adaptation. Embrace learning over flawless execution—real growth happens in the pivot. This lesson drives my approach to innovation, where flexibility fuels our commitment to meeting evolving needs without hesitation. – Danny Hayes II, Inery
15. Create A Fully Automated Software
I would look to create a fully automated software-as-a-service solution with no APIs. A standalone solution with no reliance on third-party integrations will have fewer hurdles to scale. – Adam Rumanek, Aux Mode
16. Avoid Trying To Do Everything Yourself
I’d prioritize building a strong team from the start. In my previous ventures, I tried to do too much myself, which slowed growth and created bottlenecks. I’ve learned that hiring the right people early on fosters faster progress and scalability, enabling the business to thrive without overreliance on any single person, including the founder. – Ken Thomas, BOND
17. Learn To Manage Disagreement For Growth
Learn to work with intelligent people who disagree with your decisions, as they are nuclear reactors in your business engine. When managed well, disagreement can catalyze growth and enhance your business’s scalability. Use productivity apps with the right expectations. Rather than using them to improve productivity, leverage them to balance people’s energy so they feel synergy with leadership. – Vlad Panin, Med.Report
18. Anticipate How You Will Solve Problems
I would start by asking two questions: “Could this business positively impact one billion people?” and “Who would be the team that I would want to achieve this with?” The first question allows you to think about the true problem you are solving and how it can improve so many lives in a purposeful way. The second ensures that you are surrounded with people with diverse skills to make it a reality. – Andreea Vanacker, One Million Years Of Joy
19. Center Speed Over Perfection
Prioritize speed over perfection, every time. I’d launch faster and adjust in real time. Too many entrepreneurs wait until it’s perfect—newsflash: it never is. Get it out there, gather feedback and evolve. The market rewards those who show up, not those who hesitate. – Greg Clement, Realeflow
20. Focus On Providing Value And Client Success
If I were starting a business today, one key change I’d make is focusing intensely on providing value and prioritizing the client’s success above all. I’ve learned that consistently being there when clients need support and aligning your goals with theirs fosters trust and loyalty. A business thrives when its success is built on genuinely helping clients achieve theirs, creating a win-win dynamic. – Chris Coldwell, Quicksilver Software Development Inc.
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