Starting my own consulting firm, Michael Rustom Inc., in 2022 was a huge step for me. At that point, with nearly 30 years in the information technology sector under my belt, I finally felt ready to take the plunge into entrepreneurship. It took a lot of research, hard work, and I’ll be frank, courage to get my business off the ground. But now, two years into it, I believe that I’m in a good spot. My client list is healthy and growing, and I routinely meet or exceed my revenue targets. I like to think of myself as a success story.
I’ve learned a ton along the way, too, and I’m excited to use this blog space to share some key lessons from my journey.
Embrace Change and Take Risks
One of the most common pieces of advice given to entrepreneurs is to embrace change and take risks. I believe my choice helped me to grow not only as an IT professional, but as a person, too. Since that initial leap into entrepreneurship, risk-taking has been crucial in building my company, whether that takes the form of adopting new technologies early or occasionally telling my clients the rough truths they don’t want to hear. On balance, these choices have paid off for me. Have faith in your vision and your ability to get to where you want to go.
Leverage Past Experiences and Business Relationships
Leveraging past experiences is another oft-repeated piece of entrepreneurial advice that I’ve found to be invaluable over the past two years. In my case, my background in sales and project management gave me a strong start for my consulting business. Working as a sales director and later as a vice president at a large corporation taught me a great deal about leadership, negotiation, and managing clients, and I use those skills every day at Michael Rustom Inc. Beyond that, the business connections I made in previous jobs have also led to new opportunities and partnerships, which have been key to my success in the business world. Put another way, old contacts have directly led me to new business. That’s why I always say “Never let a resource go unused!”
Focus on Client Success
Another essential lesson is to focus on the success of your clients. Believe me, in the whirlwind of planning and activity that is creating a business from scratch, it can be easier than you think to accidentally take your eye off this ever-important goal. There has been more than one occasion when I had to stop, take a deep breath, and remember to make the needs of my client priority number one. These days, when I feel like my attention is too divided, I make it a point to revisit the goals of whichever client I happen to be working on at the time. I find this exercise helps me to focus on crafting tailored solutions to meet their needs. More often than not, this results in me delivering better consulting services and solidifying my reputation with those that have retained me.
Although the advice I’ve shared today might sound like common wisdom, these truisms are grounded in real-world experience—mine and that of countless others through the ages. For those just setting out on their entrepreneurial journey, I advise that you keep these principles at the forefront of your mind and let them guide you through the ups and downs of starting a new business. Good luck!