7 Tips to Guide Young Entrepreneurs

The world needs new entrepreneurs. Entrepreneurs create jobs, lift the standard of living, usher new technology into society, and keep competition alive in the marketplace. Starting a business is difficult, and it’s crucial that the next generation has as much ammunition as possible. We are all relying on you to carry on the proud tradition of innovation.

As the CEO of a successful startup myself, with decades of experience launching prosperous companies, I know what it takes to make it. If I could go back and give my 20-something self a bit of advice about starting out as an entrepreneur, these are the seven tips I’d start with:

1.   Passion

 You will fail. That is part of the game. Your failures are most likely to lead to success if you get involved with something you believe in. Starting a business just for its own sake will leave you directionless, burned out and ultimately, back where you started. Choose an interest that you can be passionate about. Marrying charity to traditional business models may be a great way to combine the things you – and potential consumers – care most about.

2.   Define your market 

 You’ve heard this before. It’s one of the most common mistakes that entrepreneurs make. Go with something that makes sense for your scope. If you’re a small startup and still a student, staying local or targeting fellow students might be the best direction. The Internet gives us almost infinite reach, but it’s vital to narrow your market down to what is realistic, and stick with those who have a reason to be interested.

3.  Price point

 Risk taking is important in any new business venture, provided that it is sensible. Consider providing your product or service at the most basic level possible (also called minimum viable product). A small investment up front can hook new customers/donations before risking more money. Your target defines the ideal price. Survey your defined market and adjust accordingly. You can always reevaluate your prices as you grow.

4.  Be honest

 This advice applies to yourself, your employees and your customers. Be honest about what you can commit to your business. It doesn’t do any good to over-extend yourself when in truth; you don’t have the cash or the hours to commit to a project. Be honest about what your partners can expect from, and what you expect in return. And be honest with clients. At PilmerPR, our #1 rule is “First be good, then talk about it.”

5.   Utilize, but don’t over-use, social media

Young people are always eager to jump online, and that’s not a bad thing. But it is important to think carefully before plastering marketing materials on the Internet. Social media is obviously a powerful tool. Focusing it on your business can get word out quickly and cheaply. That said, be careful not to put all of your eggs in the online basket. Experiment and measure results, then constantly evaluate and decide what is working, and what you are wasting resources on.

6.  Don’t forget PR

Traditional and online press relations can yield coverage that has longer shelf life and costs less than advertising. Think about what makes your product new, interesting, and relevant. Then, talk to the media about it. You might get great reviews, mentions on blogs, or even appear on news segments. Many media outlets have sections dedicated to people in the community doing outstanding things. Even an article in your campus newspaper can be a valuable source of publicity.

7.  Look for mentors

The beginning of any venture can be exhilarating, frustrating, liberating and terrifying all at once. Remember, although younger generations can be more tech-savvy than those who have been in business for years, there are still basic principles that are refined by experience. Many communities offer networking opportunities for entrepreneurs young and old. Take advantage of this, and you may be surprised at the wealth of knowledge your colleagues have to offer.

These tips won’t earn you certain success, but every bit of knowledge you can gather before you begin your entrepreneurial career can help you avoid serious mistakes.

What to Expect When You're CEO of a Successful Startup

Leading a startup is analogous to being a first-time parent. You can read books and articles, you can talk to others that have been through it, but no one can ever fully determine what it’s like until he or she experiences it first-hand. Since joining Sumo Logic as a first-time CEO in 2012, it has been quite a ride.

Boiling down the experience of my first two years as a CEO of Sumo Logic, I have found eight tenets that I want to share:

1. Few will understand your process or state of mind

Many will try, but few will succeed in understanding the investment of time, emotion and energy associated with leading a start-up company. Though it is difficult, accepting the isolated nature of being a leader is important. This acceptance will embolden you to move forward with your work rather than exert energy to seek the understanding or acceptance of others. It’s lonely. Get over it.

2.  Listen to your gut

Entrepreneurs receive a landslide of advice from well-meaning colleagues, friends and family  – even total strangers offering advice in columns such as this one. But, even the best advice can prove worthless when it is heeded in the wrong situation. So while it is important to appreciate good advice, it is also critical to trust your gut. Often your first idea is the best and your first inkling is correct. Furthermore, if things go wrong – you will have no one to blame but yourself.

3. Ban the phrase “other people’s money (OPM).” 

Every entrepreneur should always behave as if the money they are spending is theirs. People often become lackadaisical when they internalize that they are using OPM. And a startup cannot afford to be frivolous with resources.  

4. Believe in karma

I’ve seen many people sabotage their careers with arrogance. You never know how people will enter, exit and re-enter your life. Especially in Silicon Valley, where the entry level engineer today is tomorrow the startup founder on the rise. It is important to plant your feet firmly on the ground, keep a level head and be courteous to everyone you meet. As the old saying goes, “Keep your words sweet, you may have to eat them one day.”

5. Listen more than you speak

 You don’t learn too much while you’re speaking. However, I learn many things during brainstorms with my team. A good leader listens first and speaks last. This will allow you to see all sides of a situation before weighing in. Silicon Valley is home to some of the brightest people in the world. What is the point in hiring them if you do not make time to listen to their ideas?

6.  People matter

 Though technology is a focal point of many businesses, people are still the foundation of the business. People are still the decision-makers. So it behooves the leader of a company to find the best people and create an environment they want to come to every day. Balancing the needs of people with the needs of the business will go a long way when scaling the business.

7.  Your investors are a great resource

 Working with high-quality venture capitalists (VCs) can change everything for a startup company in Silicon Valley. Their access to customers, top talent and strategic partners is invaluable.

For Sumo Logic, our VC partners, Greylock, Sutter Hill Accel and Sequoia, have been instrumental in bringing us amazing talent and marquee customers. Venture capitalists make a living on identifying the right markets with the right teams with the right momentum. Markets and momentum can swing though, so be sure to secure funding when you are on the way up.

8. Belief in your mission inspires

As unoriginal as it sounds, you must believe in yourself and your company more than anyone else. If you are not passionate, your employees, investors and customers will not get passionate about your company. In many ways, enthusiasm and belief in your vision is the most important asset of any entrepreneur.

Are You a Leader or a Manager? Why Understanding the Difference is Important.

As the owner of a small business, you’re faced with dozens of important decisions daily. With time, you’ve learned how to allocate your focus and prioritize your time. You might focus more on setting the overall vision and leave the management to someone else. While that’s a common tactic, it’s important to understand how those skillsets complement each other – and how to support both.

The leader’s job is understanding the big picture and getting people to buy into a larger vision. Unfortunately, leaders can sometimes lose sight of the day-to-day processes that help the business run. As a result, they can create policies, goals or even new products that aren’t realistic. Leaders need to know how staffers’ time is being spent and what obstacles might be getting in their way. Leaders need staffers to feel empowered sharing big ideas that can transform the company. So-called “skip-level meetings” with those taking direction from your senior managers is one way you identify if your teams have their priorities in alignment with the company’s.

Similarly, managers’ focus on daily tasks can distract them from the larger picture. Remember to step back from your to-do list and think about goals for the quarter or year. These might include investing in employees’ development or a project that can help set your team and company apart. Reminding yourself of the larger goal can help you better keep perspective and direct employees.

Regardless of your role, connect the dots between an individual’s motivations and the company’s needs. For leaders and managers, mentor relationships can be critical to understanding the people that make your company run, and aid in everyone’s personal development.

I can’t stress enough how important it is to find people who can help you grow. I sought the help of a CEO coach and I actively work on improving my leadership and management skills through reading (I’ve have found both Winning by Jack Welch (HarperBusiness, 2005), andGood to Great (HarperBusiness, 2001) by Jim Collins to be inspiring and useful.)

Seek out individuals that you respect and have personal, one-on-one conversations with them. The chance of retaining critical information increases dramatically if the time is spent with someone you respect and admire.

Whether you’re the CEO of a large company, the owner of a small business or a franchisee, the balance between leadership and management is critical. Know how they complement each other and you’ll be on the path to success with a team of dedicated, motivated employees by your side. 

The Definition of Success, According to 5 Entrepreneur Superstars

Although the definition of success is subjective, there seem to be some common themes among the ultra-successful about what success really means. Very rarely does it have to do with money alone. In fact, none of these five inspiring entrepreneurs mention money at all. No, success is something much more personal and universal -- it’s all in the meaning behind the action.

So here are five quotes about success from five mega-successful entrepreneurs.

“My definition of success? The more you’re actively and practically engaged, the more successful you will feel.” -- Richard Branson

Sir Richard Branson is the UK billionaire behind the Virgin Empire of brands that include mobile carriers, a record label and a series of international airline routes. Yet to Branson, what’s most important for success is that interactivity with the work itself.

What gets you fired up? What are you passionate about? The more you’re actively engaged in the work you love, the more successful you’ll feel and most likely from the feeling, become. Love what you do for maximum success.

“My definition of failure became not trying, not the outcome.” -- Sara Blakely

While Sara Blakely’s quote is technically the definition of failure, it’s the crux of what success is: to try and try and not be afraid of failure. Success comes to those who are willing to try and risk and fail and stand up to do it all over again.

Like Blakely says, failing isn’t the outcome, it’s not trying at all. Success can only come from being willing to fail. Considering that Blakely is the world’s youngest female self-made billionaire she seems innately qualified to talk about success and the need for your willingness to fail as part of the journey.

“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful entrepreneurs is perseverance.” -- Steve Jobs

If the key to success thus far is that you must be willing to fail and be actively engaged in your work, the next step toward success must certainly be to persevere. Success can come slowly and as the result of many, many trials and years of effort. It’s those who quit, like those who never try, that won’t make it through to success.

Jobs reminds you that much of success in life is continuing to come back and keep going. It may seem easy to look at other entrepreneurs and assume their success came overnight, yet rarely is that the case. By the time these “overnight successes” come to your attention, they’ve usually put in years or even decades of long, hard work. Don’t quit.

“Remember: If the most unique ideas were obvious to everyone, there wouldn’t be entrepreneurs. The one thing that every entrepreneurial journey has in common is that there are many, many steps on the road to success.” -- Tori Burch

Tori Burch is the successful entrepreneur behind the Tori Burch fashion line brand. Burch talks a lot to other entrepreneurs about the importance of hard work and the belief in yourself to be and do your own unique thing.

Entering the fashion industry is certainly not a simple task, and it would be easy for an entrepreneur to think that in a crowded industry there was little room for success. Yet Burch has created a multi-billion dollar brand just by keeping true to the fashion and vision she loves and her belief that other women would want the same style.

Don’t get intimidated by others in your industry who are headed for success. Your journey will have lots of steps but ultimately being yourself and believing in what you have to offer will carry you through. 

“I like to be involved in things that change the world.” -- Elon Musk

From Paypal, Tesla, Solar City, to SpaceX, Musk has certainly been a man involved in things that are changing the world. Ultimately, that seems to be where his success comes from, and it gets back to Branson’s original point: Do the things you’re passionate about.

Musk wanted to change the market and the perception of the electric vehicle. He’s achieved that mission with Tesla. Put your power and your work behind the things you’re truly passionate about and you just might change the world. Musk certainly has.

6 Tips For Accepting Failure and Moving On

I have started multiple companies. I believed in every single one of them. Put my heart, soul, blood, sweat, and tears into each and every one of them. 90 percent of them have failed.  Being around hundreds of entrepreneurs, I have learned something very important.  It’s NORMAL. Accepting failure as a lesson is one of the most important things I have ever learned.

But what do we do when the rug is being pulled out from underneath us? What do we do when all hell breaks loose and you are standing alone, looking into the abyss?  Well my friends, I am going to tell you what has helped me and hopefully it will help you.

1. Accept the situation:

Understand right away that some things are NOT in your control. It is a marathon, not a sprint. The quicker you stop getting upset, the quicker you can use this as a lesson to move on.

2. You are not alone:

Surround yourself with like-minded people. One of the biggest assets of being part of an entrepreneurial community likeAlleyNYC is that you are surrounded by people who are going through pretty similar things.  We support each other, during the high times and the low.  Check out coworking in your area, and if you are in NYC feel free to drop by AlleyNYC.

3. Screw it:

No matter how much you believe in what you are doing, something is not working. Take a step back. Breathe. Take some time off from the project. Visit your family and friends and love what is most important.  You live one time, and this is just a passing phase. You willget through this, but you have to clear your head if you are going to win.

4. Prepare for battle:

This is not for the faint of heart. You have to separate your feelings from this game. It’s a business: it’s cut throat; it's bloody; it's a war.  You must get back on the horse and do it again. You were working on the wrong project… so what? You are passionate, you are driven and applying those qualities to the right project you WILL be successful.

5. Be realistic:  

I love the saying, “It took me 10 years to become an overnight success.” Successful businesses take years and years. True hustlers grind through it. If you surveyed 100 successful entrepreneurs and asked them if they were successful on their first product I would bet you that 99 percent would say “no way”. Note that 86.3 percent of all statistics are made up on the spot :).

6. Learn Lean:  

Lean methodology is proven to work. It’s common sense. Validating your assumptions before you go down the rabbit hole of building in a vacuum is essential. With the tools you have in this day and age, learning this methodology is easy. A great way is to find out the next Lean Startup Machine workshop in your area. This three day course will teach you valuable skillsets to help you save brain damage, time, and money.  

Accept failure, people. Failure is awesome. Failing fast gets you that much closer to success.  I hope this information is helpful and you win big. See you at the TOP.

Entrepreneurship as the Hero's Journey

Entrepreneurship is a path, a lifestyle and ultimately a journey. You begin, face have challenges and, eventually through struggle and hard work, you succeed. Whether you’re about to begin your path, or are perhaps floundering in the dark and stormy woods along the way, knowing the three basic elements of a good story just might help you survive entrepreneurship.

In 1949, Joseph Campbell published The Hero With A Thousand Faces, a book of comparative mythology. It’s still relevant today. George Lucas has said it influenced his Star Wars series. 

Campbell examined the mythology of every culture and their iconic heroes. He found the same monomyth structure in every one and broke it down into what is now commonly known as the hero’s journey.

As Campbell’s introduction explains, “A hero ventures forth from the world of common day into a region of supernatural wonder: fabulous forces are there encountered and a decisive victory is won: the hero comes back from this mysterious adventure with the power to bestow boons on his fellow man.”

It sure sounds like Luke Skywalker. It also sounds a lot like many of the entrepreneurs you might know and love. Much like the hero of a great story, you too are undertaking a journey of heroic proportions as an entrepreneur.

Knowing the three stages of the hero’s journey just might help you identify where you are on the entrepreneur’s path and help you reach your intended goal. Remember, it’s not just the destination, it’s the journey.

Step One: Departure or Separation

Entrepreneurship requires departure from the comforts and security of “normal” life. Sometimes, your departure from the standard path is solely your own choice to follow the vision you just have to follow. Other times, your journey might be prompted by a layoff, downsizing or other unexpected change in your previous corporate status.

Whatever the reason for the departure, it often feels scary and exciting simultaneously. Just how frightening or amazing it feels has a lot to do with how much choice you had in making that leap versus being pushed but, regardless why you stepped on your path, enjoy and congratulate yourself that you’ve gotten this far. As the Chinese philosopher Lau Tzu said, “the journey of a thousand miles starts with a single step.”

Welcome to the path, fellow traveler.

Step Two: Initiation

 Campbell calls it initiation, but you can think of it more like challenges. Maybe, when you started, you thought the world would embrace you with open arms but, now that you’re on your way, you realize it isn’t quite so simple.

Just like the hero in every story or myth you’ve ever been told, you have to earn your success through trials and challenges of growth, discovery and failure. This is rarely a brief stage of the story. In fact, this is where the bulk of the journey takes place. As an entrepreneur, this is where you can expect frustration and the agony of lots of setbacks, even failures. Luke Skywalker lost a hand. Odysseus had to face the Cyclops and almost died from the lure of the Sirens.

You will face a series of serious, sometimes disastrous challenges along the way but, if you remember the hero’s journey, you’ll find the skill, mindset and wit to overcome. A good peer group can help! Luke had the rest of the crew to help him defeat the Death Star and get back the empire. Odysseus had his men tie him to the mast when he otherwise would’ve succumbed to the call of the Sirens and jumped ship to his ultimate defeat.

Keep your good friends and an understanding support group close by to master the challenges and overcome the failures of your entrepreneurial initiation. 

Step Three: Return

The hero must eventually return to the beginning place to realize how far he’s come. So, too, will you at your success moment. You will know you have come far and that the starting place, while still there, it’s forever changed because you are changed from the journey.

You will repeat the hero’s journey with each pursuit you have in life but never again as a novice. You can never return home from the journey the same person. That’s what ultimately makes the entrepreneurial journey worth it. When you’re battling initiation and grappling with defeat, you are also gaining experience, honing great skills and developing priceless relationships. You’ll start another project when you realize the success of this path, yet you’ll never travel as the same person again.

Talk Is Cheap: Why Great Leaders Inspire By Example

When you think of the most inspiring leaders, what are the common characteristics they share? Most likely they are known for being honest, kind and delivering their promised result. If you try to connect the dots between the shared attributes of these leaders, one clear theme reveals itself: They inspire their followers by doing, not talking.  

Let’s look at some examples. There are the commonly referenced leaders like Steve Jobs, Winston Churchill and Martin Luther King Jr. We also find the same trait in the figures Henry David Thoreau, Richard Branson and Mother Theresa. Each of these leaders caused -- is causing in Branson’s case -- massive impact by working hard to create the change they wanted to see in the world. And by working hard I don’t mean talking a lot.

Being a powerful speaker and creating a vision are important qualities of great leadership but they have to be backed by the authenticity of actually having done what you’re preaching. If Martin Luther King Jr. hadn’t been walking in the streets, peacefully protesting injustice before he gave his best speeches, his following wouldn’t have resonated so deeply. Mother Theresa is about as perfect of an example as there is.

How does this apply to your business and leadership? If you’re requiring yourself to be as brilliant and successful as Richard Branson before you inspire people, think again. While your sphere of influence may not be as broad as his, your interactions with everyone you come in contact with do have the power to inspire.

Networking is a perfect opportunity to show that you mean what you say. One of the seven key habits of the best networkers is to add value to everyone you meet by connecting them with someone you know who can help them. That is leading by example, not just talking.  

Giving away valuable free content is also something any aspiring leader can do to build a reputation of greatness. Think of the best leaders in online business. They all give away a lot of useful tips, insights and feedback to their followers, which come from their own hard-earned experiences.  That not only builds credibility but creates a loyal following of devoted supporters who respect and promote them.

This is especially important when creating and building your brand. Being relatable and authentic are two vital parts of creating an inspiring brand and identity as a leader in your field. There’s no way to fake authenticity. You have to have experienced what you’re representing, and that means you have to show some vulnerability. This kind of openness is key to inspiring a following. People will follow who they can trust and relate to.

Make it your goal to take action first, then talk about it. You’ll find that the following you attract will be the best kind. No matter how small or big your platform is, your actions will always speak louder than your words. Remember: Talk is cheap, so back it up with real life examples, and use what you do -- not say -- as a starting point to inspire others.

5 Questions to Determine If You're Ready to Be an Entrepreneur

The only difference between people who want to be entrepreneurs and the ones who actually are is the work and the risk of getting started. If you feel like you want to be an entrepreneur but aren’t certain if you’re ready yet, here are five questions to help you determine your capabilities.

1. How comfortable are you with being uncomfortable?

 Entrepreneurship will mean a lot of uncertainty. If you’re the kind of person who needs a lot of control and a strictly scheduled life, you may not be able to handle the ambiguity that surrounds entrepreneurism. That being said, don’t think just because uncertainty makes you nervous you can’t be an entrepreneur. If you find you have a need for a controlled schedule, that trait could actually work in your favor.

Entrepreneurship requires long hours, hard work and dedication when you start out. Being able to manage your schedule and control your environment could help you with the organization of your business. However, you might want to plan before you leap in. A few great ways to do this are to stockpile savings, already have a business plan you’re prepared to work and seek out a community of support to talk you through the tough times.

2. Are you disciplined? 

You are totally responsible for yourself. Right now, wherever you’re at, whatever you’re doing -- it’s your choices that got you here. How do those statements feel to you? If you feel yourself bristling and ready to argue, then you might not be in the right mindset for entrepreneurship yet. When you start, you must take full accountability for everything -- there’s no back-up plan on why you got passed over for a promotion or why you didn’t get your report done on time. Clients won’t want excuses and they’ll drop you.

Even when it’s their fault you have to be prepared to deal with the possibility that you’ll have to handle it. You need discipline to survive and stay ahead of your work, ahead of your bills and to grow your business. If you struggle with accountability and discipline, don’t rule out entrepreneurship forever. Take stock of ways your current situation could be improved by better decisions and try holding yourself accountable.

3. How’s your health? 

Taking care of your body is important for everyone, but can have particularly far-reaching implications for the entrepreneur. There are no sick days in entrepreneurship when you’re getting started. There’s a chance there won’t be for years. That’s going to mean you have to be productive, even when you don’t feel good, or risk missing business opportunities. You have to keep yourself in good health with diet and exercise that keeps your body strong and your mind keen.

If you aren’t a healthy person, you may want to figure out a plan for improving your lifestyle before you transition into entrepreneurship. Also important, think of how you’ll cover health insurance and medical needs when you start your journey. Get a plan for your health and work it.

4. Do you love what you do and are you good at it? 

There are going to be long hours in entrepreneurship. If you enjoy what you’re doing and are passionate about your project, that intense amount of work is enjoyable. Don’t fool yourself into thinking money alone will be enough to motivate you.

Make sure you’re passionate about what you’re intending to pursue as an entrepreneur and that you have the skill set to get to work. If you don’t, consider how you can improve your skills before making the leap and how you might get involved in something you’re passionate about doing.

5. Do you play well with others? 

You might think entrepreneurship is a solo activity, but the truth is that having great relationships is crucial to long-term success. It's not only for the value that comes from referrals and the camaraderie of close relationships, but also for the support you will need. If you’re starting out as an entrepreneur, you’re going to have periods where you need to rely on the strength, wisdom and friendship of others.

Look for opportunities to build your network: mentors, mastermind groups and other programs will help you find the right people. Just be sure that you invest in them, too. Relationships are based on give and take. Build strong relationships and open yourself up to the great support and learning that comes from others.

18 Things to Do Right Now to Be a Happier Small-Business Owner

Before I started my first business, Planet Explorers Publishing, I didn't understand exactly how hard entrepreneurs work each day or how much worry they often shoulder.

Running a business has lots of ups and downs, so it's important to have a robust set of strategies to keep an even keel. Grab a cup of calming tea and read this list of approaches (culled directly from small-business owners by email or online post) on becoming -- and staying -- happy: 

1.   Turn off your phone for set amounts of time each day

Or set it to stop buzzing every time you get a new email. Designate certain times every day to deal with your messages and stick to those boundaries.

2.   Help someone solve a problem

Do this by using your specific expertise or network.

3.   Take care of your health

“The three most important ones to me are taking time to sleep, eat, and work out,” says Matthew Clough, Los Angeles-based founder of stone + cloth, an online backpack retailing firm that funds scholarships for students in need. If making time for exercise seems impossible, schedule walking meetings and phone calls or do 10 minutes of yoga right after rising from bed in the morning.

4.   Lighten up

 When a crisis arises, ask yourself if it will really matter in a week, a month or a year. The answer is usually no.

5.   Reflect about the things you’re grateful for.  

Focus on how much you’ve already achieved.

6.   Schedule activities that bring you joy. 

“To remain happy as a small business owner, I schedule things that make me happy just as I would a meeting with my sales team or marketing department,” says Nellie Akalp, CEO of CorpNet in Westlake Village, Calif., a company offering business license and registration services.

“I schedule lunch with my husband" and "kickboxing lessons at least three times a week" plus "ice cream afternoons with my youngest," she says. "It may sound ridiculous to 'schedule' these types of things, but I really find that once they are in my calendar I follow through with them every time.”

7.   Stop the envy train

 “I stopped comparing myself to the businesses and people I aspire to resemble,” says Chris Piper,  a Phoenix-based co-founder of zoomStand, which sells portable standing desks. “I have no idea what their struggles were or what their journey was like. I kept the focus on my growth and that’s it.”

8.   Venture outside

 Or take a vacation. Even if you have to find Wi-Fi and do some work while you’re gone, a major change in scenery is reinvigorating.

9.   Cultivate an attitude of peace and fun about yourself and others

People are complicated and everyone makes mistakes. Find the humor in things every day.

10.  Set achievable goals

“At the end of each day, make a list of things you will be working on tomorrow,” says my mother, Linda Artz of Oshkosh, Wis., who runs an eBay store LAStudio55. “It feels great to check those things off the list.”

11.  Don’t fight your inclinations

 “One of my saving graces has been to work with my natural circadian rhythm,” says Marie Hale Ramos, founder of lipstic logic, a Chicago marketing and sales strategy firm. If that means working odd hours and taking siestas, do it. Take a day off every week.

12. Do less. 

“I only schedule one deliverable per day,” says San Franciscan Jessica Greenwalt, founder of Pixelkeet, a graphic design and web development shop. “No more trying to complete multiple projects in 24 hours, and no more trying to experience everything that is happening in the city, bouncing from event to event without being fully present at the event I'm currently attending.” 

13. Delegate as soon and often as you can

 Play to your strengths and outsource your weaknesses. “Hire employees who can work without your supervision,” says Jim Belosic, CEO and founder of ShortStack in Reno, Nev., which helps businesses run campaigns and  online promotions. “There’s no better feeling than knowing you can take a few days or a week off from work and things at the office won’t fall apart.”

Next, hire a cleaning service at home. “Your most valuable resource is time,” says Ruth Frantz, founder of Henri's Reserve, a curated e-boutique of family estate champagnes based in Southport, Conn. “The minute the house starts looking like a war zone, you feel you have lost control, as does the family. Outsource as much as you can afford.”

14. Meet other small business owners

“It's a great way to learn through shared experience,” says my friend Jennifer Lohr, an attorney atLohr Law Office in Madison, Wis. And these businesspeople can be a source of feedback, advice and "support you'd normally get from mentors or coworkers at a bigger company.”

15.  Control your inputs

 There’s no reason to amp up your stress level by watching the pundits fighting on television.

16.  Simplify your record-keeping  

 “Take a picture of your receipts,” suggests Melissa Viera, who runs a pet-training academy in Acushnet, Mass. “It's easy to tell yourself you will write down the amount you spent on supplies for the business when you get home that night, but how many times do you forget?”

17. Trust your gut

“If your instincts have proven to be good, listen politely to all of the wonderful advice that you get but if you still feel strongly about something, act on it,” advises Nicole Zinn, owner of theRocket Electrics bike shop in Austin, Texas. While you grow your business, focus on it's becoming better and being yourself as well.

“At the end of the day, think of anything that happened that pulled you away from your ‘authentic self,’” says Myke Nahorniak, co-founder and CEO of Localist, a tech company in Baltimore. “If you had a meeting and found yourself saying something you didn't really believe, make a note of it. By being aware of those moments, they'll naturally happen less, leading to more happiness and confidence in what you're doing.”

18. Don't expect your business to provide all your happiness

That's the advice of Sarasota, Fla.-based George Schofield, CEO of The Clarity Group, who does business consulting. “Have the discipline and planning in place to create other sources of happiness,” he adds. “Businesses, like spouses, suffer from excessive expectations and demands. Give yourself and your business a break.”