10 Things Every Business Owner Should Know Before It's Too Late

Are you thinking about starting a business? Already running one but not sure what to do next?

With 25 years of corporate experience, selling multi-billion-dollar companies, growing businesses from $50M to $350M, and working with nearly 50 entrepreneurs, I’ve seen the same mistakes happen over and over again.

If more business owners knew these 10 things, they would grow faster, avoid plateaus, stop wasting money, and, in some cases, never start a business that was destined to fail.

So let’s dive in—because what you don’t know could be holding you back.

1. Simplicity Wins Every Time

Entrepreneurs often start with one product or service. But then, based on impatience, advice from "experts," or pressure to scale fast, one becomes five, seven, or ten.

The result? A scattered business that stretches too thin, dilutes its expertise, and slows growth.

Focus on becoming excellent at one thing. The most successful people in the world—yes, even those with multiple income streams—started with ONE.

2. Buy Expertise, Not Coaching

This one might be controversial, but it needs to be said: Businesses need experts, not just coaches.

🔹 A coach encourages, uplifts, and provides new perspectives.
🔹 An expert has credentials, experience, and a track record of executing with results.

If you're building to six or seven figures, you don’t need a coach—you need experts in growth, marketing, and operations. Coaches are great for personal development, but experts will get the work done.

3. Tinkering & Pivoting Stalls Growth

Every time you tweak, change, or "pivot" your business, you slow down growth. Even good changes cause disruption.

Before making a change, ask yourself:
💡 Can my business afford the disruption this will cause?

Many entrepreneurs sabotage momentum because they get bored. But boring is predictable. And predictable businesses grow steadily.

4. Consistency Beats Innovation

People buy when they understand:
✅ Who you are
✅ What you sell
✅ How you serve

Confused people don’t buy.

Consistency in marketing, messaging, and delivery builds trust. You don’t need to "reinvent" to grow—you need to show up, serve well, and refine your process.

5. You’ll Never Compete on Salary—But You Can Win on Culture

Small businesses can’t outpay Fortune 500 companies. But what can you offer?

💡 Flexibility, autonomy, creativity, and impact.

Employees in big companies crave:
✨ More freedom over their schedules
✨ A say in decision-making
✨ Recognition for their contributions

If you want top talent, focus on the rewards and benefits only a small business can provide.

6. Gimmicks Don’t Build Loyalty

Flash sales, waitlists, and rewards programs don’t create true loyalty. Relationships do.

💡 Customers want to know the humans behind the brand.

In today’s world, businesses that win are those that show up as real, transparent, and human. People want connection, not just another product or service.

7. You Don’t Need Investors—You Need Time

There are very few businesses that actually need outside funding.

❌ Most don’t need loans, credit cards, or investors.
❌ Most fail because they take on too much debt too soon.

Instead of borrowing, bootstrap. Build lean. Grow slow. Scale only when necessary. Debt is easy to take on but incredibly hard to escape.

8. Friends & Family in Business Rarely Works

This one is tough, but it’s almost always true.

💡 Why? Because emotions cloud judgment. Hiring loved ones makes it harder to:
⚠️ Fire someone who isn't performing
⚠️ Make decisions based on business needs, not personal ties
⚠️ Avoid conflict that spills into personal relationships

If you want a scalable, sustainable business, hire strangers who are experts in their field.

9. Monetize What You’re Good At, Not Just What You Think People Need

I’ve started three businesses that failed before finding success. Why? I was solving problems that weren’t in my zone of expertise.

Your best business idea is:
✅ Something you’re excellent at
✅ Something people already trust you to do
✅ Something you can confidently sell

If you can’t persuade someone to buy from you right now, you may be in the wrong business.

10. The Best Business Decision You Can Make? Keep Going.

This list could be 100 things long. But the biggest truth is this: Success isn’t magic—it’s consistency over time.

Business ownership isn’t easy, but it’s worth it—if you play the long game.

If you are finding you have made one or more of these mistakes and you want a plan to turn it around, book a call today.