It may sound cliché, but building a business really is a journey in which you take small steps every day down a road to reach your destination. For many years I was wandering, and while not all those who wander are lost (as I was still creating content and building my network), I was not sure if I was heading down the right path. In retrospect, when I did finally make decisions regarding my career path it was not opportunities that I sought out, but rather the people presenting them that approached me. I did, however, seize those opportunities and made the most of them. But there was always something incomplete that left me wondering if this was “it”; did I really want to continue in whatever role I was in for the rest of my professional life?

It has been over a decade since my return to the tri-state area from Israel after completing my army service, and before that an undergrad degree from a reputable academic institution in Boston. I cannot say that New York is a great place for an entrepreneur, but it is a place where perfect people who get perfect grades look to level up to their next corporate position. However, there is an energy to the city, and there are opportunities for those who want to seize them. In reflection, I have always been an entrepreneurial type of personality, and some environments are conducive to that while others are not. I cannot say I will remain on the path of running a content marketing agency for the rest of my life, or that it is the summation of my work experience. But there are valuable lessons I have learned that I believe are relevant for those looking to start their own business, whether that be an agency, small business, or startup.

Every task can be broken down

Initially I feel as overwhelmed as anyone else but feeling this way is not going to get me the results I want when I start a project. The most important thing is to write all of it down so that you get it out of your head, and just focus ferociously on the task in front of you. “Focus like a Roman” as the saying goes...for example: if I were going to answer email, I would allocate 52 minutes to it and put on my noise-canceling headphones with focus music. Then I would lock my email so that no incoming mail comes in, and of course, all other notifications would be shut off, and I would complete as much as I could in that time frame.

I am a disciple of “winning the day”, and if you just concentrate on the day ahead, I believe you will be able to move your business forward. I can say that I would need some assistance with a 6-month plus plan, but some lifestyle entrepreneurs such as Tim Ferriss might claim I am missing out on the razor’s edge of opportunity by being too rigid. I would also add that all bets are off during this period as we really do not know where things are headed with the pandemic. That is why just looking at winning every day (completing 3-5 major tasks) is so important and focusing on optimizing the experience.

Consistency above all

This may sound like heresy, but I believe being consistent with content is more important than it initially being ‘good’. This is a hard pill for some to swallow, but you only get good by doing. And the reason most people fail is that they do not actually try. They wait for the perfect post, the perfect article, and they just sit on it. As Sheryl Sandberg famously stated, “shipped is better than done”, or going back to Voltaire, “perfect is the enemy of the good”. The uncomfortable truth is that you are not as good as you think you are. I certainly was not, and I had to produce a lot of content and take feedback to get to where I am today.

You can probably beat most of your competitors simply by showing up every day. Many people get intimidated knowing that their competitors are going to keep showing up and creating content, come hell or high water. That is why consistency, discipline and the resilience associated with these qualities are so important. I have seen this in my own work: I keep showing up, pushing hard, and producing more content while under lockdown. Meanwhile, I see others in my space spending time feeling sorry for themselves and complaining on Instagram, all while generating bad content.

Guard your focus time

I do not think I am a lazy person, but I do not have a lot of willpower, so that is why I set up systems to make sure I win. You only have so many hours of your day to move along what you want to work on. One email or text from a client can send you on a wild goose chase and before you know it, the day is over. For those gurus who just tell you to sit and do it, it is not that easy, and even for the most committed, you need a daily system.
Personally, getting up early, not checking my phone (this is essential), and getting my 1 or 2 most important tasks done first thing in the morning kick-starts my day. That, planning the most important tasks I want to complete, and spending some time thinking and visualizing the night before. This is where the importance of breaking tasks down into their smallest bits are important so that you do not get overwhelmed. If you cannot focus, then you probably will not be able to accomplish that much.

Find a reliable way to make decisions

One of my pet peeves, and what seems to be the one reason many businesses fail is poor decision making. We are irrational creatures, and as countless studies show we make emotional decisions first, then look to justify those choices with “logic”. If you think you are immune to this type of behavior, you are mistaken. Do I think I am more emotional than other people? Perhaps, but my emotions certainly come on strong, and I have learned to create distance between my feelings and actions before deciding.

As the famous Viktor Frankl quote goes “between stimulus and response there is a space. In that space is our power to choose our response. In our response lies our growth and our freedom.” The reality is that you are going to be assaulted by exceedingly difficult emotions when you launch your own business, especially when things go awry, and they will. That is why my daily workout regimen (with plenty of sleep and healthy eating), journaling my thoughts in the morning, and meditation to give my emotions space all help me make clear-headed decisions. I am not saying I always make the right decision, but I feel going into the decision that it is the right one given the information I have.

Persuasion is key, and it is not just about “sales”

What separates those entrepreneurs who can get an endeavor off the ground or raise venture money from others is that they can persuade. When investors state that they love passionate entrepreneurs, it is because they are taken by the entrepreneur’s persuasive energy. That does not mean you need to be a natural-born salesperson. I certainly was not, and I do not think you will be taken as seriously if you are too ‘salesy’, but you need to know how to persuade.

Here are where things get interesting. You can be a persuasive relationship developer (what I focused on when I started), a convincing public speaker, or a good writer. But you need to be good one-on-one, build trust, and be likable, which are things you can learn. Having a skill, product, and service is important but you need to learn how to persuade to have a business. For those who think sales is slimy, it does not need to be. You need to get that out of your lexicon and learn some form of persuasion. Sales ability, in my opinion, is the hardest and purest skill as the results can be measured, but it is a lifelong journey.
Those are my humble views and what I have learned. And in 5 years’ time I will make more mistakes and learn different things, and who knows, maybe I will reverse some of these views. I chose this path, and while I was scared when I started, I wish I had embarked on this journey earlier in life. But it could be worse, I could have started this later in life, and not self-actualized now nor leaned into my truest self. This is my personal journey, and if you have any questions, I would be happy to offer my advice.

Jonathan “Yoni” Frenkel has been involved in the New York-Israeli tech community for many years, mentoring startups on marketing, hosting events connecting investors with startups, and publishing on the topics of tech and venture regularly. Professionally, he heads a content marketing agency, YKC Media, focused on engaging millennials, Gen Z, and tech professionals through written content and social. You can follow his thoughts on Linkedin here.

We find ourselves in a period in which we are all going to have to row the same boat when it comes to reopening the economy and leading with the next generation of business. What is normal, or what was normal before the beginning of this year is no longer relevant, and things will most likely never return to that state. Additionally, trends that were already progressing have accelerated because of COVID-19, with education being one of the areas that will see the most disruption. The writing was on the wall, and it is something we are going to have to face immediately.

Regarding education and bucking the trends, some of the most successful entrepreneurs either dropped out of college or did not go through the well-trodden path of parlaying higher education to climb through the corporate ranks. For students today that first wave of highly visible entrepreneurs such as Jeff Bezos and Richard Branson normalized the idea that one can build their career via entrepreneurship. While strong academic institutions and learning how to learn certainly helped successful entrepreneurs, we could be entering a period in which a strong academic curriculum could be the difference between success and failure. There are several advantages of enrolling in an academic program before launching your endeavor, whether that be an undergrad degree or MBA. Having a degree could prove to be an advantage as “according to a CNBC/Survey Monkey survey, only 26% of small business owners said they had a bachelor’s degree. Only 17% went to college, 20% graduated high school but did not go to college, and 5% didn’t graduate high school.” Regardless of the hype around entrepreneurs who drop out of school and encourage others to do the same, there are significant advantages to pursuing a degree.

Learning the basics

Many entrepreneurs just go on instinct and look to build from what they know. They keep pushing and learning from their mistakes, and learning from the toughest school there is, the school of hard knocks. Savvy entrepreneurs, however, spend time self-educating and speaking with people who are further along than them. Learning in one form or another is the basic philosophy of many successful entrepreneurs; they are “students of life, for life.”

There is something to be said about learning business by doing, and that has been the #1 criticism of newly minted MBAs: they do not have experience when it comes to the ways of the business world. However, a formalized education in understanding what you are doing could cut years off your learning curve. Of course, programs that are a combination of theory and actual practice are ideal. Theory, and learning how to learn is important as well, and good entrepreneurs learn from their mistakes. There is also the benefit of taking a deep dive into more corporate classes like finance and accounting that many entrepreneurs, unless they are solving problems in that space, would not be exposed to.

Building a network

Whether it is “who you know”, “who knows you”, or another one of Dale Carnegie’s quotes, what really matters is a strong network. Just attending networking events and telling people you are an entrepreneur does not cut it, but there is a lot of value in developing authentic give-first relationships. As the African proverb states “if you want to go fast, go alone. If you want to go far, go together.” It is a part of folklore for a reason: humans need to cooperate with others to build anything of real substance. As this Forbes article states on the importance of building a network as an entrepreneur “growing a network facilitates business opportunities, partnership deals, finding subcontractors or future employees. It expands the horizons of PR and conveys the right message on all fronts.”

It does not matter what point in your startup you are, there is going to come a time where you need to pick up the phone and call someone for assistance. There is a reason Greek life and other organizations succeed on college campuses; the same goes for military service in one’s late teens and 20’s. While business school classes do attract a more competitive type, that does not mean they are a bad place to develop relationships. There are untold stories of startups that came out of undergrad or MBA programs, such as Facebook, Snap, and Warby Parker. Another benefit is the alumni network as well as sources of angel money. Years after you graduate you will be pleasantly surprised by the response you get when you cold email an alumnus from your institution and they reply positively.

Trying out your idea

As we have covered in previous articles, failure can be harsh, and it is something to avoid at all costs when building a company. Do not avoid trying but avoid failing by ultimately pushing through to see your idea to fruition. University programs offer competitions where different teams can compete on an idea. Furthermore, you can start your business on the side, and later go on to grow it. While you are in school, you will be enveloped in a learning environment and can test out ideas in practice as you learn them.

If there is a forum where you can test out your idea, ideally with other people’s money, then go for it. You will learn about yourself, how you deal with pressure, and how you work with a team, ultimately leading to a positive experience. Think of this as bootcamp, and the world after graduation as the battlefield. That may seem harsh, but best to get your feet wet, and learn from your mistakes in a supportive environment such as school. When you get out in the real world you do not know if you will be able to find or create that same environment. Additionally, more programs are working directly with accelerators and VCs, so you will be able to understand how investors think before you even enter the real world.

Exposing you to different ideas and people

People assume when they launch their own endeavor they will automatically be exposed to different ideas and people, but that may not be the case. You may build a business focused on one subset of the population, resulting in a smaller pool of people with whom you will be interacting. We also tend to socialize and learn from people in our immediate circle, thus limiting our exposure to different ideas and people.

Diversity is an important aspect of a college education, and when you are in class with people from different backgrounds you have a chance to interact and learn from them. College creates a safe place where you can make mistakes and have your ideas challenged. Best of all, the cost of making a mistake is much lower than in the real business world. Once you start on your endeavor you will be so focused on the day to day survival of the business you will fall back on old mindsets you did not know you had. That is why being in an academic setting and being exposed to diversity is so important before you launch your business.

You develop a base of skills which will help you succeed

It is likely no one told you how important public speaking and writing are for your business. The ability to communicate effectively is probably one of the greatest indicators of whether you will succeed as an entrepreneur. If you cannot communicate your value proposition effectively and convince your customers to buy the product, you are basically dead in the water.
Like many things in life these skills can be learned, and what better place than in an academic classroom where you will be able to speak in front of your peers and improve your written form? Writing is one of the most important skills to have these days and can be used in any industry to stand out from your peers. It also helps you clarify your thinking. All these skills lend to creating future leaders, as what good leaders know how to do is communicate. As author and cartoonist Scott Adams famously developed regarding his concept of “skill stacking”: “it’s easier to be in the top 10% for a range of skills than to be the very best in the world in one skill. It is about having a variety of skills that work well together. Your specific combination of well-developed skills allows you to offer unique value.”

When you pursue an education, you are investing in yourself, and while some business gurus on social media suggest you drop everything right now and launch a business, know it is a cost-benefit analysis. You will look back upon these years and appreciate what you learned, the people you met, and how these experiences prepared you for the future. There is no rush to start a business and enrolling in an academic program could help you stack the odds more in your favor.

It may sound passé that if you love what you do you do not have to work a day in your life, but it is a popular expression for a reason. Life goes by so quickly regardless of whether you are enjoying what you are doing, so you might as well make the best of it. The reality, however, is that you are not going to love every moment of work. There are going to be days when you feel like getting out of bed is a chore, times when you must deal with difficult customers, and annoying mind-numbing tasks to which you must attend. But on a day to day basis, if you feel what you do is giving you energy rather than diminishing it, you are probably on the right path.

Reframing our view of happiness here in Western culture, Americans on average work more than most other countries, and signs of leisure such as cafe culture are not seen as status signs. According to this article “Americans work 137 more hours per year than Japanese workers, 260 more hours per year than British workers, and 499 more hours per year than French workers.” Does that make us the happiest nation? No, far from it, but there is a cost for the output the country produces. Additionally, it is important to define happiness. We look at our lives as aspiring to be a constant cascade of positive and pleasant emotions without any obstacles or struggles. But how is that realistic? As we are finding out during a pandemic life comes at you hard and fast sometimes, and there is so much out of our hands. A way to optimize for living is to not only appreciate the difficulties but to embrace them, and if we are going to spend the bulk of our lives working, we may as well find meaning in it.

There is no better feeling than seeing the mountain from the bottom and going through the process of climbing it, and by our fingernails if need be, to reach that peak. Through the champagne glass tinted view of success many entrepreneurs look back and state unironically that they had the most fun on their journey to success. Entrepreneurship is not for everyone, but it can be a deeply spiritual endeavor as it will force you to bring your best to build something of value for the world.

You are building something of value

People who gravitate to entrepreneurship are driven by the idea they are building something to solve a pain point for a segment of the population. This desire to create, to build something is part of our human DNA. While historically our species may have had a shameful past in some cases, overall, we have built and created what is today’s modern society.

In America’s case, entrepreneurship has been a part of the DNA that has propelled the country to thrive as a tech and business powerhouse. I can state from a personal perspective that building and creating was always something that gave me meaning and was the reason I got into building my own business. It may be the restless energy or the need to prove myself but even when I encountered setbacks and licked my wounds I bounced back and started a new project. There have been times when I have had to do something difficult, like land a customer or give a difficult speech. After I overcame the obstacle, I was struck by an overwhelming feeling of accomplishment. Nothing could take away that feeling of winning that hard-fought war with myself. When people state that they are chasing a feeling and not money, that is what they mean.

You are employing others and contributing to society

When you are building something, a business, an agency, or any endeavor where you need to hire skilled and talented people, just remember that you are not just providing your customers with a solution but also employing people. This is a strong reason to get out of bed in the morning, and to continue on even when you don’t feel like it; you’re not just taking care of yourself but also of the people who work for you and their families. Entrepreneurship and building small businesses help employee millions of Americans across the country, “small businesses employ 58.9 million people, which makes up 47.5% of the country’s total employee workforce.”
Organizations that have an intense level of caring in their DNA, real ones, not toxic work cultures who throw the word ‘family’ around, become a second home for their employees and give meaning to their work. The reality is that you can ascribe meaning to anything, and I suggest that you remember you are helping provide someone’s livelihood as it will give you something to lean on when things get tough.

Particularly during COVID times, entrepreneurs who can create successful endeavors can be a part of this wave of businesses that rise from the ashes of those who had to close because of the coronavirus. As we are living through history right now is the time to consider what role you will play in helping get the economy back on its feet.

You are learning new skills

There are several soft skills that you will not learn until you start your own business, including selling and marketing, building thought leadership (which means communicating effectively), and leading people. There are natural strengths that you may parlay such as creativity, but at the end of the day even if you fail at your business, you are still the wiser for having tried. As the saying goes, “sometimes you win, sometimes you learn.”

Personally, the idea of building a consultancy was straight forward. I was not wed to the idea of being a full-on entrepreneur, I was very much OK working in a company whose culture I admired. I made a list of companies I wanted to work for, reached out, and realized that I would not be a good fit. At that point I planned out 6 months from that point, thinking either I would spend the time looking for a job, or start my own endeavor. One of the factors for me to start my own agency was the knowledge I would accrue from the experience of building a business.

And that did come to pass, as I learned more about improving sales, different forms of digital marketing, and how to build effective partnerships. Experience really is the editor of mistakes, and there is no substitute for going through the process. How else would I be able to make the decisions I made or have the experience to make the choices I make daily? These are not things which can be read in a book; you need to just live them to understand what to do.

You will be challenged and learn about yourself

Do not start a business as an experiment in self-development. There are plenty of other ways to learn about yourself. But a side ‘benefit’ of launching and building a business is that you will face a lot of difficulty and learn how to act under pressure. There is the idea that the grittiest survive, and that it is just about being the last one standing. If that is the case then you are going to deal with a lot of sleepless nights, thinking about how you make payroll, what will happen if the funds dry up, and especially what people might say if things don’t work out.
Your confidence may be shaken, there are real human aspects to this journey, and you should embrace the idea of the Hero’s Journey which is key to giving your struggle meaning. I recall listening to a recent podcast where Presidential hopeful Andrew Yang spoke about how it took him a year to regain his confidence after one failed endeavor. One year! That seems like a long time and is about right. But the important thing is that he did recover, he did get back up, and he put one foot in front of the other. The question you need to ask yourself is: are you really leaving it all on the field? If the answer is yes, then you will be OK with whatever the outcome is, as you know that you will rebound.

Not many people look at building a business as a deeply spiritual or philosophical pursuit, as something with religious dimensions. For some it is about the money, the prestige, or even the freedom of self-actualizing and doing what they want to do. But it is a lifestyle, something that can be done successfully. You need to devote most of your waking hours to really get anything off the ground. And you need to be OK with the high chance of failure, the lowest lows, and some highs that do not come often enough. But that is why all the fun is in the journey itself.