After over 37 years building our agency into an industry leader, young entrepreneurs often ask us how to start a business that will stand the test of time. The harsh truth is most passionate founders face odds stacked against them—70% of eager startups fail within months. You need resilience, vision and adaptability to achieve enduring returns. But cultivating the psychology of a highly effective CEO from your venture’s genesis is what truly allows you to lead your business through the scaling gauntlet and accomplish exponential impact.
Section 1 – Core Mindsets You Need To Start A Business
As an executive coach for high-growth founders, I ensure leaders stay connected to frontline challenges while sustaining big-picture creative thinking. Relentlessly seeking customer truths through a growth lens, not just validation. Top entrepreneurs finesse this balance – learning to toggle between the ground and the stars. When you learn how to start a business, you learn there are so many layers to unravel. So it is important to be ready and open to constant change.
For example, global fitness pioneer Tracy DiNunzio made it a priority in the early days to work reception at one of her first gyms weekly – chatting with clients before and after classes. This allowed her to gather direct feedback, ideas and insights that fueled winning program and facility innovations while also strengthening company culture.
Cultivating positive paranoia is another hallmark I see the most resilient executives exhibit. Rather than getting comfortable or buying into their own hype, they are constantly evaluating processes and offerings – figuring out what’s not perfect yet. A 2020 Columbia study found founders who displayed intense curiosity grew revenue 34% faster over 3 years.
Section 2 – Making the Strategic Leap
The most fatal flaw I see around the 2-3 year mark is unchecked ego, lack of self-awareness stunting the capacity to build empowered teams and speak to evolving market needs. However, developing emotional and intellectual bandwidth simultaneously unlocks a new leadership plateau.
A seminal 5-year Stanford study in 2018 examined factors causing founders to stall out after an initial growth spurt. They found over-centralizing decisions rather than distributing authority was the downfall 82% of the time. Visionary leaders make the leap by acting from inspiration rather than pressure. Surrounding yourselves with those whose strengths compensate for your development edges progresses the mission fastest.
Section 3 – Evolving Your Mindsets
In the scaling phase, success often depends most on your personal bandwidth to inspire excellence while avoiding domination that dims others’ talents. This is when servant leadership and soul of an artist must fuse with courage and discernment to see what’s missing.
Trusted advisors are invaluable during rapid expansion periods. By definition you don’t know what you don’t know. Atlantic Capital CEO Amanda Mosley reflected: “We synthesized feedback from a hand-selected advisory group during a 2-day strategy session. They challenged assumptions we had outgrown. Breakthrough initiatives were born – along with a whole new 5-year blueprint.” Humbly including external perspectives prevents founder blindness.
Section 4 – True Prosperity
Of course skills are vital, but cultivating wisdom-in-action is how extraordinary impact compounds over decades. My most enduring principles integrate work, family, spirituality – thriving holistically allows you to then build institutions that heal.
Eco-tourism founder Wynn Miller hit a wall after the company surged then stalled. An Andean vision quest reconnected him to core purposes. He returned re-energized with an initiative integratingstaff wellness incentives, mindfulness training and sustainability practices. Company growth accelerated over 300% the next 2 years. Moreover, 95%+ employee retention and loyalty levels seeded an award-winning culture. Think holistically – your organization’s potential builds from personal balance.
Section 5 – Lifestyle of Leadership
The cornerstone to any successful startup journey is constructing a balanced lifestyle that fuels personal grit and focus over the long game. Making time for self-care and community connections prevents burnout. Optimized daily habits increase mental bandwidth to navigate challenges.
After pioneering his global learning platform, EdMonster founder Vikas Mathur found himself utterly depleted, battling fatigue and illness. He confessed: “I had to step back and radically reassess. Scaling impact matters little if making positive change kills you.” After an intensive 30-day wellness sabbatical, Vikas created “Thriving Thursdays” – mandatory company-wide early closures for people to recharge. He also instituted quarterly 3-day retreats immersed in nature and reflection.
The results? “Our people came back with elevated purpose, stronger connections and fresh creative energy that keeps compounding,» reports Vikas. «By living our values together around community care, retention skyrocketed. Healthy, happy teams drive exponential innovation.”
Yogabeat creator Keith Elliot agrees. He instituted mandatory Sunday Soul Sessions – half days spent outdoors, exercising and reflecting in community. He firmly believes this “injected more inspiration, camaraderie and collective purpose into each hustling week, elevating our creative output.” The unique culture also helps attract top-tier talent despite heavy competition. As science affirms, balanced lifestyle integration magnifies mental acuity and sustainable performance.
Cultivating robust support networks is equally key. Resilient leaders proactively identify mentors who have overcome similar inflection points before. They exchange ideas in founder forums and stay grounded in life outside work.
Felix + Flora’s Debrah Adewale reflected: “I cannot stress enough surrounding yourself with other mission-driven founders. Our mastermind peer group kept me buoyant during vulnerable pivots in the pandemic. Brainstorming innovative launch plans while cheering each other on re-centered my core motivations.”
By integrating work with emotional and physical renewal, extraordinary founders build companies powered by meaningful connections – while also enjoying the ride.
Always Remember
Launching an enduringly successful company is akin to raising a child who positively transforms society. Learning how to start a business requires sacrifice and grace along with the psychological strengths cultivated by the best CEOs. But done mindfully and strategically, the personal and collective rewards truly do compound.
[2] Johns, A. “Startup Scout Spotlight: Tracy DiNunzio of Tradesy” Forbes, 2017.