Today marks 8 years since the founding of Pitted Labs! Holy smokes...
Reflecting on this journey, I’ve learned a few key lessons:
#1 - The Loneliness of Being a Solo Founder 👨🏼 Balancing work and personal life is challenging, and as a solo founder, it’s even harder to share everything openly. Your leadership team shouldn’t be burdened with personal details, and friends don’t need to know every work nuance. Finding a trusted mentor, advisor, or therapist can bridge the gap.
#2 - The Value of Bootstrapping 🏦 Bootstrapped and self-funded companies, especially those that last beyond 5 years, often don’t get enough credit. Pitted Labs, Pitted Logistics, and Pitted Ventures are 100% bootstrapped, with ZERO debt or external investors. Sure, this may have stunted our growth, but it has allowed us to make decisions that are right for us and our clients. Not investors or banks.
#3 - Sales First for CEOs 📈 Until you hit $1M in annual revenue, a CEO’s primary role should be sales. Money doesn’t solve all problems, but it sure does keep a business running. I learned this the hard way when I stepped away from tactical duties, including sales, too soon. This shift caused us to lose sight of our vision. Stay highly engaged in sales, and the sales team you ultimately build.
#4 - The Challenge of People Management 👥 Balancing empathy and leadership is much harder than anticipated. Striking the right balance between being relatable and being a boss is a continual challenge.
#5 - Embracing Imposter Syndrome 🔎 At 22 years old, starting Pitted Labs came with a hefty dose of imposter syndrome. Who did I think I was telling successful business owners and executives how to run their businesses? My advice to young entrepreneurs: Have confidence in yourself and your abilities. It’s a crucial advantage in a competitive world.