At just 21 years old, I started a startup that generated over $1 million in revenue in just four years, culminating in a multi-million dollar acquisition. While the journey was filled with both successes and failures, I learned valuable lessons that I’d like to share:

Focus on customers, not investors. We didn’t raise a lot of external capital, and instead concentrated on solving customers’ pain points and acquiring new ones. Our investors were a few angel investors, and we only raised around $25k from them.

Invest in your team, and they will invest in your business. We built a young and energetic team, but we didn’t offer much in terms of perks. Our office was small and basic, and we didn’t offer health insurance. Nevertheless, our team was happy because of our culture and the freedom we gave them. Most of our early team members are still with the company.

Hire a lawyer to protect your downside. Whether it’s customer agreements, shareholder agreements, co-founder agreements, or employment agreements, a lawyer can help you manage risks. Although most people are trustworthy, one wrong decision can lead to wasted time and money. A lawyer can help you avoid this.

Share your knowledge with others. Sharing online content helps potential customers and team members get to know you and your business better. Many of our early hires found us through my Quora or LinkedIn content.

Focus on sales and distribution as much as product development. While having a great product is essential, people need to know about it to buy it. This is why sales and marketing are critical.

Done is better than perfect. Many entrepreneurs spend too much time trying to perfect everything, leading to analysis paralysis. It’s better to complete a task with 80% of the intended outcome than to get stuck in analysis paralysis and never start at all. Incrementally improve from there to reach 90% or 95%.

Continuously learn. Entrepreneurs must invest time in personal learning and development to stay ahead. As technology changes and your business grows, you’ll need new leadership skills.

Prioritize your physical and mental health. While revenue and profits may be important in the short term, our ultimate goal is happiness, which comes from great physical and mental health. Don’t compromise your health while working hard to grow your business.

Be frugal. If you’ve raised funds, remember that it’s a responsibility. Don’t waste money on unnecessary things just because it’s someone else’s money. Use the funds to make long-term business decisions that generate returns for your investors.

Show gratitude to those who have helped you. Let your advisors, customers, team members, parents, and friends know that you value their support. They’ve helped you become a better person and build a better business, and you look forward to their continued support.