Perspectives and Advice from Veteran Entrepreneurs

Veteran entrepreneurs offer their perspectives and advice on a wide range of topics, from starting a business to maintaining work / life balance.

1. What advice would you give to a first-time entrepreneur?
"The best advice I could give a first-time entrepreneur is to be prepared for a lot of hard work and long hours," says entrepreneur and author, Michael Delmer. "It's also important to be resilient and not give up when things get tough."

Other veterans offered similar advice, stressing the importance of hard work, dedication, and resilience. "The biggest thing I would tell someone starting their own business is that it's going to be a lot of work - more than they might expect," says veteran entrepreneur and CEO of Dandelion Chocolate, Todd Masons. "But it's also incredibly rewarding, so don't give up if it's tough early on."

2. What are the biggest challenges you've faced as an entrepreneur?
The biggest challenges veteran entrepreneurs have faced include fundraising, maintaining work / life balance, and dealing with failure.

"One of the biggest challenges I've faced as an entrepreneur is fundraising," says Masons. "It can be difficult to convince people to invest in your business, especially in the early stages."

Other entrepreneurs echoed this sentiment, noting that fundraising can be one of the most challenging aspects of starting a business. "The biggest challenge I faced was finding people who were willing to invest in my company," says Dermer. "It can be difficult to get your business off the ground without some initial funding."

3. What has been the most successful part of your entrepreneurial journey?
Many veterans cited the most successful part of their entrepreneurial journey as being their ability to adapt and overcome challenges. "I think the most successful part of my journey has been my ability to adapt and overcome whatever challenges come my way," says Dermer. "There have been plenty of ups and downs, but I've been able to stay afloat by staying flexible."

Other entrepreneurs echoed this sentiment, noting that the ability to adapt has been key to their success. "The most successful part of my journey has been my flexibility and willingness to change course when necessary," says veteran entrepreneur and CEO of Gold Rush Ventures, Tony Hsieh. "I've had to make a lot of adjustments over the years, and that flexibility has helped me stay afloat."

4. How do you maintain work / life balance as an entrepreneur?
Many veterans noted that it can be difficult to maintain work / life balance as an entrepreneur, but there are a few things that can help. "The best way to maintain work / life balance as an entrepreneur is by setting boundaries and making sure you have a solid support system," says Masonis. "It's also important to take time for yourself, so you don't get burned out."

Hsieh agrees, noting that taking time for yourself is key to maintaining balance. "One of the things I've learned over the years is that it's important to take time for myself - whether that means taking a vacation or just going for a walk," he says. "If I don't take time for myself, I'll eventually burn out and won't be able to achieve anything."

5. How do you know when it's time to give up on your business?
Many veterans said that it's important to know when it's time to give up on your business - and that there is no shame in doing so. "The best way to know when it's time to give up on your business is by evaluating your goals and asking yourself if you're still moving towards them," says Hsieh. "If the answer is no, then it might be time to move on."

Dermer agrees, noting that it's important to be honest with yourself about your goals. "If you're not passionate about your business anymore or if you're not making any progress, then it might be time to give up," he says. "There's no shame in admitting defeat - in fact, it can be the smartest thing you ever do."

6. How do you stay motivated throughout the ups and downs of entrepreneurship?
Many veterans said that they stay motivated by setting goals and focusing on what they have control over. "I stay motivated by setting small goals and focusing on what I can control," says Hsieh. "I also try not to get too discouraged by the ups and downs - after all, that's just part of being an entrepreneur."

Other entrepreneurs echoed this sentiment, stressing the importance of staying positive despite the challenges of entrepreneurship. "I stay motivated by keeping a positive attitude and focusing on what I want to achieve," says Masonis. "I also try not to dwell on the negative aspects of entrepreneurship - there will always be bumps in the road, but it's important not to let them get you down."