30 Entrepreneurs Share Their Takeaways From 2022

The start and ongoing of a business can be rewarding and exhausting at the same time. Running a business successfully encompasses learning from mistakes that happen along the way which in the end, helps your business to be more strategic and to get back on track. We asked entrepreneurs and business owners about the tough lessons they have learned in 2022.

#1- Focus on employee well-being

As the digital age continues to evolve, the well-being of employees should remain at the forefront. Employee well-being is an important factor in making sure that companies are running efficiently, and it should always be a top priority. When employees are happy and healthy, they can focus on the tasks that need to be completed and help the business thrive. A successful business requires a team of healthy and engaged employees, and this is only possible when their well-being is taken seriously.

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Thanks to Dr. Joyce Kahng, Joyce the Dentist!

#2- Invest in cybersecurity

Photo Credit: Jensen Lee

As more and more data moves to the cloud, the risk of cyberattacks and data breaches increases. Companies should invest in cybersecurity measures to protect their data and systems from malicious actors. With the increasing prevalence of cyber-attacks, businesses must take steps to protect their systems and data against malicious threats. This includes investing in the latest security solutions and training staff on how to recognize and respond to threats.

Thanks to Jensen Lee, bidetsPLUS, LLC!

#3- Embrace remote working

Photo Credit: Thomas Niemczewski

With the pandemic still underway, remote working is becoming the norm for many businesses. Companies should invest in the necessary resources and technologies to ensure employees have a comfortable and secure work environment. The pandemic has forced many organizations to adopt remote work, and this trend is here to stay. Embracing remote working will help businesses stay competitive and be more efficient. It will also help you reduce costs and provide greater flexibility for your employees.

Thanks to Thomas Niemczewski, Dream Chasers!

#4- Focus on digital transformation

Photo Credit: Kristina Davis

To ensure success in a digital world, it’s essential that businesses understand the implications of digital transformation and make it a priority. Businesses must invest in the right technology. To do this effectively, they must have a clear understanding of their customer base and their needs. By gaining insight into their customer’s behavior and preferences, businesses can identify which technologies will have the most impact on their current operations and help them to stay ahead of their competitors.

Thanks to Kristina Davis, Letti & Co!

#5- Build a culture of resilience

Photo Credit: Adit Jain

One crucial takeaway from 2022 is the role of empathy and resilience in sustaining a high-growth business. If you build a culture of resilience, your business can find stability even in difficult times. In case you lack the skill of resilience, try to undergo professional training for developing said skill, and further expand the training to your employees as well. Whether inside or outside the workplace, being resilient is a vital skill one should possess.

Thanks to Adit Jain, Leena AI!

#6- Evolution of artificial intelligence

Photo Credit: David Brickley

In 2022, we saw the full potential of A.I. come to fruition in the professional world through sophisticated tools like ChatGPT, which allowed professionals to achieve unprecedented levels of efficiency and productivity. Alongside this, YouTube Shorts emerged as a powerful new feature on the social media scene, with over 1.5 billion monthly users, and it quickly became a go-to platform for brands looking to increase their distribution and reach. Additionally, the shift towards performance-driven metrics for remote teams allowed professionals to take their productivity to new heights

Thanks to David Brickley, STN Digital!

#7- Know how to pivot

Photo Credit: Jack Miller

I’d say my biggest takeaway for 2022 in terms of business is the importance of adaptability and knowing how to pivot. It’s been the story for the last two years, but towards the end of the pandemic, entrepreneurs seemed to give slightly less importance to it. Now that inflation rates are at a peak, the importance of pivoting is once again highlighted and should be taken seriously.

Thanks to Jack Miller, How I Get Rid Of!

#8- Adaptability is essential for success

Photo Credit: Joshua Haley

From my experience in 2022, I've learned some valuable lessons that have helped shape my outlook for the future. Adaptability is essential for success, and I'm constantly learning to make use of technology and tools to work more efficiently. Mental health should always be prioritized, and surrounding myself with a supportive network has helped me push through challenging times. Lastly, I am reminded to show gratitude every day for all that I have, even in tough situations.

Thanks to Joshua Haley, Moving Astute!

#9- L&D enables teams to be agile

Photo Credit: Chris Gadek

Investing in L&D is essential for companies to build agility into their cultures. As the past few years have shown, teams must align and quickly adapt to new processes when change happens overnight. Failure to do so can result in mistakes and losing track of projects as team members rapidly transition from one to the other. But fostering your employees' continuous improvement enables them to adopt new skills, making it easier for them to embrace new technologies as you implement them.

Thanks to Chris Gadek, AdQuick!

#10- Adopt a mindset of “CAN DO”

Photo Credit: Hanne Wulp

My biggest takeaway from 2022 is that even though all businesses are under the influence of the market/economy, we can do so much else to influence the growth and well-being of ourselves and our businesses. When we continually adopt a mindset of “CAN DO”, and when we keep our eyes open for options and opportunities within a current structure, we can thrive regardless. When we are continually working on being aware of temporary moods and mindsets, we can influence ourselves way beyond.

Thanks to Hanne Wulp, Communication Wise!

#11- Focus on digitalization and automation

Photo Credit: Kevin Wang

In my experience, the biggest takeaway from 2022 is to focus on digitalization and automation. We now have access to powerful technology that can help entrepreneurs scale their businesses quickly and cost-effectively, such as AI/ML solutions, cloud computing, and quantum computing. Investing in these technologies and using them to our advantage can make us more competitive and efficient in the market. It’s important to keep up with the trends and use the latest technology to reach potential customers.

Thanks to Kevin Wang, Inyouths!

#12- Focus on data-driven decision making

Photo Credit: Tom McSherry

I would like to say that one of the main takeaways from 2022 is to focus on data-driven decision-making. Whether you're a solo entrepreneur or a large corporation, data-based analytics are an essential part of running a successful business. The key is determining what works for your unique business and customer needs and then using that data to inform your decisions moving forward. 2022 is a year of opportunities for entrepreneurs and business owners to make the most of their resources by leveraging data-driven insights.

Thanks to Tom McSherry, Premium SEO!

#13- Flexibility and resilience

Photo Credit: Sinoun Chea

In my experience, this past year, 2022, has been difficult for many entrepreneurs and business owners. There have been significant changes to how we do business, from the pandemic shifting our operations to new technologies like machine learning and AI disrupting entire industries. One key takeaway from 2022 is that flexibility and resilience are critical in times of upheaval. Business owners have had to pivot their operations quickly to stay competitive while adapting to the ever-changing environment.

Thanks to Sinoun Chea, ShiftWeb!

#14- Focus on resource allocation

Photo Credit: Mia Garcia

As an entrepreneur, my key takeaway would be that the focus of resource allocation will continue to shift toward the developing world. As it was in 2020, and as it is today, the heart of the most exciting innovations will reside outside of mature economies. The growth rate of emerging markets will slow down slightly in 2022, but this should not be read as a negative indicator. As the number of people using smartphones grows in developing markets, this is going to lead to an explosion of innovation.

Thanks to Mia Garcia, iToolab!

#15- Relationship is king

Photo Credit: Jason Lavender

Relationships are king during a downturn and this became clear again in 2022, as the economy started to shift downward. CEOs and business leaders need to make sure they're as close to their customers and adding as much value as possible. When the economy is down, the first things to go are always nice to have. If you are close with your customers, listening and solving real problems for them, you'll not only survive during downturns — you'll thrive.

Thanks to Jason Lavender, Electives!

#16- Collaborative leadership

Photo Credit: Josh Weiss

With national and global events continuing to shake up the marketplace, collaborative leadership enables teams to cope with these disruptions. It replaces the hierarchy and gets leaders and staff members out of their respective silos to work together. When egos are left at the door, companies can leverage the various skills and expertise of everyone in the room. It's also a more effective way of successfully developing innovative solutions to navigate unforeseen challenges.

Thanks to Josh Weiss, Reggie!

#17- Resilience to navigate uncertain times

Photo Credit: Dan Kroytor

Resilience enables individuals and organizations to withstand challenges that test them repeatedly. Whether you're dealing with the economy, layoffs, or environmental events, a speedy recovery requires us to play defense and offense at the same time. And to do this, people need to maintain their energy, and businesses must adapt quickly to reduce the immediate impacts of crises. Doing so will help them be more ready to act upon growth opportunities during changing conditions in the marketplace.

Thanks to Dan Kroytor, Tailored Pay!

#18- Focus on time blocking

Photo Credit: Liz Thomson

I'm a food blogger and time blocking was one of my most effective strategies in 2022. The blogging business has become more competitive over the years, so I've had to get more strategic with my time. By time blocking and setting aside specific hours for certain tasks, I could focus and work more effectively and efficiently. I had virtual co-working sessions with other bloggers, which was a great way to stay accountable. I was able to get a lot more work done in a shorter amount of time, and it drove great results.

Thanks to Liz Thomson, Heart Vegetables!

#19- Globalization will continue to progress

Photo Credit: Eric Sornoso

There are a few key takeaways from our 2022 report. We found that the use of technology will continue to increase in the coming years, with more and more businesses using technology to automate and improve their operations. Additionally, we found that globalization will continue to progress, with businesses looking to expand into new markets. Finally, we predict that there will be an increased focus on sustainability and environmental responsibility in the business world.

Thanks to Eric Sornoso, Meal Fan!

#20- Inflation results in issues with cash flow

Photo Credit: Andrea Smith

It's safe to say that business owners all over the world concur that the rising cost of supplies is a problem for the entire world. More than 90% of small business owners worry about inflation, which affects the price of goods, services, and labor. For some people, these difficulties have already led to cash flow issues. As a result, almost 3 out of 5 small businesses report that they increased their prices in 2021, and 63% report that they have plans to do so in the future.

Thanks to Andrea Smith, Master Manchester!

#21- Have an agile and adaptive approach

Photo Credit: Gulshan Hajara Banu

As a business owner, the biggest takeaway from 2022 is that successful businesses must have an agile and adaptive approach to the ever-changing market and customer dynamics. My company went through so many changes in the last year that we would've collapsed if we had not adapted quickly. A business can remain competitive in an increasingly dynamic landscape by anticipating changes, anticipating customer needs, and responding quickly to changing market conditions.

Thanks to Gulshan Hajara Banu, Pest Keen!

#22- Build customer relations

Photo Credit: Shaunak Amin

Building customer relationships from day one enables organizations to weather downturns. This is why our customer success team always reaches out to our customers and communicates with front-line teammates. Consumer needs are ever-changing, and when combined with one small change in the supply chain process, there is a more amplified effect in the end. But customer success teams can help your business think like your audience to address their expanding needs and keep them engaged and doing business with you again and again.

Thanks to Shaunak Amin, Snack Magic!

#23- Online sales for success

Photo Credit: Thomas Lewis

It goes without saying that online businesses did better in 2022. Compared to just 58% of companies that don't sell online, more than 70% of small businesses with online sales anticipate growth in 2021. Even after the pandemic restrictions are lifted, consumers will find it difficult to switch back to in-store shopping because they have grown accustomed to the convenience and security of online shopping. In light of this, almost half of the small business owners say that boosting online sales is a top priority for growth in 2022.

Thanks to Thomas Lewis, The RIP City Reviews!

#24- Build your cash reserves

Photo Credit: Josef Carmeli

Based on what happened in 2022, it's more likely to have a recession in 2023. While it is unknown how long the decline in the economy will be in 2023, it's imperative to build your cash reserves for your business to stay afloat should there be a recession. As a business owner, you should control your spending, assess where your money goes, and know where to get additional money should you need it. It's always better to start preparing early before you need it.

Thanks to Josef Carmeli, If-So!

#25- Trust your leaders

Photo Credit: Gauri Manglik

My biggest takeaway from 2022 is that we need to be able to trust our leaders and our businesses. In 2022, we saw a lot of companies trying to take advantage of the public and their customers, which was really disappointing. I've been running my company for over 10 years now, and it's something I've always been passionate about – making sure that my company treats its customers and employees right. I feel like this is important now because there's so much competition in business—it's easy for people to get lost in the shuffle if you don't stand out from the crowd by treating people fairly.

Thanks to Gauri Manglik, Instrumentl!

#26- Plan your life first

Photo Credit: Yehor Melnykov

Running a business but having a life too, my major takeaway is to plan your life first. Primarily, schedule all your vacations and essential family activities (like when your parents have an anniversary of their marriage or time slots to pick up your kid from the children's garden). And only then squeeze all your business-related to-dos into your hectic schedule. That’s how you will take control of your life, and experience higher productivity and motivation to meet all of your KPIs within “inner” deadlines. To make your life spin around what matters most.

Thanks to Yehor Melnykov, Lawrina!

#27- Keep your processes simple

Photo Credit: Marliis Reinkort

A business that runs on simple principles and processes is faster and more agile compared to one that isn't. Elon Musk's stint at Twitter, albeit short, clearly shows the same. Running a business has taught me the actual worth of simple techniques. Quite often, businesses that want to scale get lost in the forests of complex processes and tools. Simplicity has an edge because it allows plug-and-play onboarding. While at it, simpler methods also come with higher satisfaction rates among customers and staff because they lessen the learning curve.

Thanks to Marliis Reinkort, Code Galaxy!

#28- Implement focused leadership

Photo Credit: Susan Melony

To more successfully spread the word about your firm, implement focused leadership and a robust, helpful system of open communication at all levels. Of course, you can come up with whatever philosophy you choose, *but it's important to keep it centered on customers in some way. Making sure that the satisfaction of your customers is the driving force behind all you do is an important part of developing a successful business ethos since you are working to provide value to the people who keep your company alive.

Thanks to Susan Melony, FreePeopleSearch!

#29- Focus on technological cause and effect

Photo Credit: Barry Gray

My takeaway from 2022 is to focus on the technological cause and effect that is happening in our society and how it is transforming businesses. Over the next few years, cloud computing and software, mobile apps, artificial intelligence, machine learning, and other advanced tools are expected to play a greater role in the business landscape. To remain competitive and take advantage of the trend toward a digital existence, companies must invest in staying up to date with the latest technological advancements.

Thanks to Barry Gray, The Tool Square!

#30- Stay innovative

Photo Credit: Dr. Prav Solanki

As a CEO, my biggest takeaway from 2022 is that we need to stay innovative at all costs and that means staying on the cutting edge of everything from technology to business models. It’s a tough challenge, but it’s one that we need to meet if we want to stay relevant and competitive. This is also why I’m so excited about the move toward digital learning. It’s not just a way to save money, it’s also a new model for delivering content that can help us stay on top of trends in education and business.

Thanks to Prav Solanki