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 2024, and here are some of those responses.
#1- Importance of adaptive innovation
2024 was an adaptive year that brought innovations, teaching one the art of being fluid in constantly changing business landscapes. Among them, a big takeaway was further reliance on technology for ease in operations and customer connectivity, making digital transformation related to businesses an ongoing process. Secondly, the emphasis on sustainability and corporate responsibility became front and center for consumers and businesses. We learned that success is balancing innovation with values and building meaningful connections.
Thanks to Eric Sornoso, Mealfan!
#2- To inculcate resilient adaptability
The importance of adaptability and resilience in the face of unprecedented challenges. The year 2024 presented numerous unforeseen obstacles from economic fluctuations to unexpected shifts in consumer behavior, we had to swiftly pivot our strategies and embrace innovation to stay afloat in an ever-changing landscape. One valuable lesson I learned was the importance of building strong relationships and community. Collaboration and communication were key to navigating uncertainty, as we relied on fellow entrepreneurs for support and new opportunities.
Thanks to Andrew Pickett, Andrew Pickett Law, PLLC!
#3- To be strategically resilient
2024 was a balancing act between growth and resilience. Successful entrepreneurs and business leaders focused on sharpening their strategies, enhancing operational efficiency, and adopting new technologies, such as AI, to automate processes. The most important lesson learned was to prioritize impactful initiatives and learn to say no to distractions that do not add value to the long-term vision. Cross-functional collaboration and investment in customer-centric experiences were crucial for fostering loyalty and driving sustainable growth.
Thanks to Alena Astravukh, ELEMUP!
#4- Purposeful adaptability
There was a shift in global commerce and consumer behavior in 2024. The wellness and mental health industry grew like never before. Consumers now value Comprehensive lifestyles. Mainstream interest in sustainable and ethical consumption drove entrepreneurs. They developed products with transparent supply chains and social impact. The creator economy grew. More people are monetizing their personal brands and niche skills. Localization and community-driven business models gained traction, as consumers sought authentic, personalized experiences.
Thanks to Robert Lui, African Net Sponge!
#5- The importance of accountability
This year, my biggest business takeaway has been the importance of accountability. Keeping a notebook handy for capturing ideas, tasks, and insights in real time helps prevent things from slipping through the cracks. Organizing those notes and focusing on completing one task at a time has boosted productivity and reduced overwhelm. Perhaps most importantly, I’ve learned to delegate tasks beyond my expertise, allowing me to focus on what I do best while leveraging the skills of others to move my business forward.
Thanks to Tayelor Kennedy, FemFounder!
#6- Intentional simplicity fuels growth
2024 underscored the power of intentional simplicity in both business and personal finance. As an entrepreneur, I saw how streamlining processes—whether it’s using smarter AI tools to personalize financial wellness for our members or adopting flexible, outcome-focused work strategies—fosters clarity and growth. This year taught me that focusing on fewer, high-impact goals isn’t just efficient; it builds resilience in uncertainty. In 2025, the challenge will be maintaining that focus while continuing to innovate.
Thanks to Reagan Bonlie, Nudge Money!
#7- Maintaining flexibility and adaptability
2024 has been a year of growth, adaptation, and resilience for entrepreneurs and business owners. One of the biggest takeaways has been maintaining flexibility and adaptability in changing circumstances. Another key lesson from 2024 is the growing emphasis on prioritizing mental health and well-being for individuals and within organizations. More than ever, business owners recognize that sustainable growth stems from a healthy mindset. For me, these are essential for personal success and creating thriving businesses that align with our values.
Thanks to Kristin Marquet, Marquet Media: PR & Branding!
#8- Human creativity outshines AI
Despite AI tools flooding the market, we maintained our commitment that anything created by AI would never be client-facing. Our ability to quickly pivot content strategies to align with industry trends, like HumanRank and E-E-A-T (Experience, Expertise, Authority, and Trust), allowed the brands we work with to maintain visibility and authority. One of our biggest takeaways from 2024 is that while AI is useful for efficiency, human creativity, and authenticity remain the most valuable differentiators in content marketing.
Thanks to Jenn Greenleaf, nDash!
#9- To be resilient, adaptable, and innovative
2024 has been a crucial year in my tech entrepreneurial journey. My team and I stumbled upon multiple challenges due to the market volatility. However, what helped me through is- resilience and adaptability. These are the key takeaways from 2024. Navigating the market unpredictability wasn't easy, but technology and the right team helped me. Adapting AI and automation was a vital step in enhancing efficiency. I prioritized employee well-being for a healthy work culture. This approach proved to be beneficial in retaining talents.
Thanks to John Russo, OSP!
#10- To adapt, evolve and thrive
In 2024, I realized that the widespread supply chain had no choice but to evolve, with ongoing geopolitical tensions and economic uncertainty pushing companies to rethink everything from parts acquisition to logistics management. For instance, the semiconductor chip shortage tested businesses, forcing many to look for new suppliers or change their production methods. Also, as some regions grappled with unreliable power grids, the search for stable, hybrid power solutions became important for businesses aiming to reduce carbon emissions.
Thanks to Ben Whitmarsh, Generators For Export!
#11- Resilience drives success
As AI tools became more accessible, the line between small startups and large enterprises blurred, creating opportunities for innovation. However, this also highlighted the need for businesses to strike a balance between automation and human engagement. Upskilling employees and fostering creativity emerged as critical strategies to maintain competitiveness. Additionally, macroeconomic pressures pushed many businesses, to diversify revenue streams and adopt flexible models for growth. Success hinges on staying agile, customer-focused, and ready to embrace change.
Thanks to Berns Lim, WunderWaffen!
#12- Execution builds trust
Running a listed company in volatile markets can be challenging, especially for small-cap companies. To weather the storm on the markets I’ve learned to ensure I focus on robust and efficient execution of our drug development plans to ensure shareholders can build trust in management’s capability to execute even when capital markets are challenging. If you focus on executing well the share price should take care of itself. The rising incidence of stroke in Australia has also brought home to me the huge unmet need for our company’s neuroprotective drug.
Thanks to Dr. Liz Dallimore, Argenica Therapeutics Limited!
#13- AI, investment, and resilience
The rise of AI-powered tools offers significant opportunities for efficiency, customization, and innovation. Companies are leveraging AI for market analysis, streamlining operations, and developing transparent, explainable systems to meet compliance needs. AI startups continue to attract robust pre-seed funding, though Series A rounds are tightening. Amid economic uncertainty, businesses are focusing on sustainability, calculated risks, and fostering innovation to remain competitive. Investors are strongly focusing on sustained growth as well.
Thanks to Abhijit Kejriwal, Hostelmatch!
#14- Growing environmental awareness
With growing environmental awareness, there's a heightened demand for water-efficient products. Low-flow toilets, faucets, and greywater recycling systems are gaining popularity, helping consumers reduce water consumption without compromising performance. Plumbers are getting more questions from customers about environmentally friendly options, requiring us to stay up to date on the latest technologies as well as being well-equipped to install and maintain them. Even products like environmentally friendly toilet paper are getting more attention now.
Thanks to Allison Harrison, Goodbee Plumbing!
#15- Staying true to your core values
It’s been a year of reflection and realignment for me. One of my biggest takeaways has been the importance of staying true to your core values while adapting to change. As consumer expectations evolve, especially around sustainability, it’s been clear that businesses need to remain flexible but also anchored in what they stand for. We’ve focused on making our operations more transparent and ensuring our products align with the values we promote. Another key takeaway is that growth doesn’t always mean scaling fast.
Thanks to Jehann Biggs, In2green!
#16- Adaptability fuels growth
This year has been a year of recalibration and growth for me. One of the biggest takeaways has been the importance of adaptability. The market continues to shift, and as business owners, we can’t afford to be static. We’ve had to stay nimble, embrace new technologies, and constantly assess what’s working and what’s not. Another lesson is the power of building a resilient team. It’s not just about hiring the right people but empowering them to make decisions, take ownership, and thrive in a fast-paced environment.
Thanks to James Hacking, Socially Powerful!
#17- To empower legal excellence
2024 highlighted the growing importance of digital accessibility and client-centered approaches in legal services. Clients now expect seamless communication and faster case updates, making robust technology essential. Integrating tools that automate routine tasks, like document drafting and case management, allowed more time to focus on client advocacy. There was also an increased focus on educating clients about their rights through online resources, ensuring they make informed decisions. This year reinforced the need to adapt to evolving laws.
Thanks to Justin Lovely, The Lovely Law Firm Injury Lawyers!
#18- Need to empower modern parents
In 2024, the demand for practical and reliable resources for parents continued to grow. Parents are seeking actionable advice to manage daily challenges, from balancing work and family life to understanding child development milestones. Content that directly addresses these issues, such as tips for specific age groups or practical solutions for common problems, gained more traction. There is a great demand for resources that are both informative and relevant to allow parents to make the right decisions for their families.
Thanks to Cory Arsic, Canadian Parent!
#19- Adapting to SEO Shifts and UX Enhancements
2024 has highlighted the need for businesses to remain adaptable in SEO. As search engine algorithms evolve, adjusting strategies is crucial for maintaining visibility. One key change is the growing importance of user experience (UX). Google now favors websites that load quickly and offer smooth navigation. Another notable shift is the rise of voice search, particularly in local SEO. More people are using voice assistants to find businesses, making it essential to optimize for conversational keywords. To succeed, companies must stay ahead of these trends and prioritize user-centered improvements.
Thanks to Toni Marino, Toni Marino Ltd.!
#20- To succeed by creating and educating
2024 marked a significant shift in content creation and audience engagement. The short-form vertical video continued its dominance but with a crucial twist, the most successful creators focused on “education-first entertainment” rather than pure entertainment. The rise of AI tools has revolutionized content creation workflows, but I found that the true differentiator was how these tools were used to enhance human creativity rather than replace it. The most valuable lesson from 2024 has been that expertise-driven content.
Thanks to Alexander Weber, Axlek!
#21- Three takeaways
As we close out 2024, one key takeaway for me as an entrepreneur is the importance of adaptability. The business landscape has continued to evolve rapidly, with technology, consumer behavior, and economic shifts challenging us to rethink strategies and operations. This year, I’ve learned that the companies that thrive are the ones that remain flexible, embrace innovation, and constantly listen to their customers. It's not just about staying ahead of the competition but about fostering a culture that encourages continuous learning and agility.
Thanks to Krish Waje, Lunaire!
#22- To thrive by pivoting and iterating
My takeaway for the year is that it is okay to iterate. In fact, it's essential. So I pivoted to focus on hybrid publishing. And then I pivoted again, almost a year later, to publish fiction as well as nonfiction books. My goal is to democratize access to book publishing, so it didn't make sense to stick to one genre. I am constantly iterating the hybrid publishing packages. I want to offer as much value as I can and to delight authors of all genres. It's why we now make book trailers! They're like movie trailers but for books.
Thanks to Jessica Mudditt, Hembury Books!
#23- To grow through adapting and trusting
A key takeaway from 2024 has been the importance of adaptability in an ever-evolving tech landscape. At Securiti dot ai, we saw firsthand how embracing AI-driven solutions allowed us to stay ahead in privacy and data governance, even as regulations and customer expectations grew more complex. Collaborating cross-functionally and investing in innovative technologies helped us streamline workflows and build stronger client trust. The lesson is clear: staying agile and prioritizing trust not only ensures resilience but also drives meaningful growth in challenging times.
Thanks to Adil Advani, Securiti!
#24- Several takeaways
Key takeaways from 2024 include sectors like housing defying interest rate trends with strong growth, showing the diversity of the economy. Despite predictions, the labor market remained tight, but companies focusing on being employers of choice successfully recruited talent. Cash flow management became vital amid B2B payment defaults and upcoming statutory changes. Lastly, business leaders learned to let go of difficult clients with unrealistic expectations, focusing on more rewarding and sustainable relationships.
Thanks to Scott Rawson, Instant Products Group!
#25- To be agile in changing industry dynamics
The necessity of agility in the face of changing industry dynamics. The ongoing technological evolution, driven by AI and IoT adoption, warranted a complete revamping of our traditional business models. Investing in high-tech, flexible production methods enabled us to respond rapidly to shifting customer requirements and maintain our competitive edge. Also, the global market uncertainties reminded us to diversify our supply chains and reinforce our partnerships internationally.
Thanks to Ant Liang, Promax Pogo Pin!
#26- To increase strategic link-building
As an entrepreneur in the digital marketing space, my key takeaway from 2024 is the increasing importance of strategic link-building for business growth. Over the past year, I've observed how high-quality backlinks from reputable sources have become instrumental in enhancing online visibility, brand credibility, and search engine rankings. In 2024, businesses that invested in targeted link-building campaigns saw significant improvements in their organic traffic and lead generation. Similarly, a SaaS startup we worked with gained featured snippets for several competitive keywords thanks to our link-building efforts, resulting in a 30% increase in free trial sign-ups.
Thanks to Maurizio Petrone, PressHERO!
#27- To evolve, analyze, and connect
Key takeaways from 2024 include the growing importance of e-commerce, which required optimizing SEO strategies for business growth, as seen with USAPromDress dot com, where I increased visitor traffic significantly. Data analytics became essential for informed decision-making, a skill I refined at Fisher Investments through performance reporting and research. Additionally, fostering strong client relationships remained crucial, as evidenced by my success in adding over $150 million in assets while working with high-net-worth clients.
Thanks to Kunal Madan, Amarra!
#28- To thrive amidst ambiguity
In reflecting on 2024, my top takeaway as an entrepreneur is the value of resilience and adaptability. Primarily citing two examples: Firstly, the marked increase in the number of entrepreneurs seeking clear, cost-effective legal services in a rapidly shifting business landscape. Secondly, an investment in promoting client understanding of business formation processes ensured we could provide the necessary support for entrepreneurs navigating these uncertain times. By fostering clients' self-reliance, we have been able to elevate industry standards while also sustaining our business growth.
Thanks to Andrew Pierce, LLC Attorney!
#29- To challenge and reinvent established norms
Reflecting on 2024, key takeaways include the importance of customer-centered innovation, exemplified by our Virtual Try-On technology enhancing client experience. Strengthening environmental commitments through resource conservation and waste reduction was pivotal. Personally, recovering from single-eye blindness motivated me to counsel others on trauma, adding a humanitarian dimension. This blend of innovation, environmental responsibility, and human connection defined our ethos in 2024.
Thanks to Mark Agnew, Eyeglasses.com!
#30- Importance of digital transformation
In 2024, one major takeaway is the exponential importance of digital transformation. The adoption and advancement of digital operations and marketing have proven integral to business success. Secondly, sustainability's role will continue to be a defining factor in how businesses are perceived. At Slipintosoft, our commitment to eco-conscious production processes has not only benefited the environment but also gained positive customer response. Lastly, there's a necessity for robust supply chain management to mitigate disruptions and maintain product quality and availability.
Thanks to Damon Wu, Slipintosoft!
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