8 years ago this summer, I bypassed my morning commute to the firm, walked down the hall, and opened the proverbial “doors” to Paige Hulse Law for the first time. I had exactly zero clients (literally, not one), and after I got over the initial excitement of getting to take my lab for a morning walk (the freedom in that decision!) I just remember how unnervingly quiet it was. I had my first moment of “what have I done” panic-I wanted the freedom to create my own future; to build a business that allowed for a “richer life”. To me, that had (almost) nothing to do with a bank account: my office was covered in photos of my beloved horse, who was still living at my parents’. I was determined to build a business that allowed me to build a home and a life where he could be in the front yard, hopefully with a friend.
I’m writing this from his stall in my front yard, looking out at 20 acres, while his “brother” munches on his grain right next to me.
There’s a lot of business advice out there about how to start a business (you can find just about any legal question you’d be looking for at The Creative Law Shop), but today, I wanted to share a little bit of the quiet truths that created north stars for my own entrepreneurial journey. Primarily, for 2 reasons:
1. I’ve spoken to a lot of entrepreneurs who feel like their businesses have stalled out;
2. I know a lot of people are leery of this economy, and are considering “hanging their own shingle”. I’d want to read this before I started.
This won’t be a guide to “how to start a business”; rather, the lessons that only 8 years of the “school of hard knocks” can teach; experiencing success, watching everything almost burn to the ground, and a redemption story. My law firm has been stress tested to the ninth degree and is so much better for it.
This is the advice I literally keep on my own sticky notes in my office to this day for those inevitable days when I get copied, when I get in my head about “not moving fast enough in the world of AI” (anyone else?) or on the days where I’ve just simply had my teeth kicked in.
I’m someone who is very future-focused, so every year, I take intentional time to look back and see tangible evidence of personal growth, refined maturation, and cultivation of wisdom. To me, the amount of money in the bank account is an irrelevant metric of those qualities that really matter to me. Rather, I create personal standards that over time, took the form of this list.
Never stop learning, never stop growing, and never stop raising the bar for yourself. Feel free to take these and use them for yourself:
On Integrity:
- You can’t make everyone happy, but you know, in your bones, when you’ve treated someone well. Don’t settle for anything less.
- This is an ethos throughout my team. Almost every day, I have to share hard news with clients; I have to counsel them through a tough scenario. When I was younger, I would try to “soften the blow” a bit too much, which blurred boundaries and obfuscated the message. After the pandemic, I immediately stopped that behavior. Our clients will always experience kindness, and the type of advocacy I’d provide if someone was family. It’s not about being popular (you may find someone who will tell you exactly what you want to hear), but you will not find more integrity. I have full faith in that statement.
On Teams:
- If you catch yourself thinking “I don’t know how my business would survive without so and so”, listen to the words coming out of your mouth.
- Irreplaceable and inconvenient are two different things.
- You never know when you’ll get the phone call saying you’re out of commission for a season.
- I cannot stress this enough- we all know truly good people are hard to find, and it’s so hard when we lose them. I experienced this last year when it was time for my absolutely wonderful associate to experience another adventure. In the same vein, I’ve experienced getting “that phone call” several times. Building friendly, respect-filled relationships with colleagues has proven time and time again to be one of the most important aspects of my “business succession plan”. To that end:
On Business Relationships:
- Integrity wins every time, and good people will recognize good people.
- Saying “they would never do that” is a red flag. You can’t control whether someone operates fairly, or has consistency of character, or when their own circumstances require loyalty that no longer aligns with you. People will surprise you – for better and for worse, business is ripe with people looking to get a leg up. Sometimes it’s the people closest to you who get the most threatened.
Consistently Good Decisions:
- Cultivate mentors. Be generous with your mentees.
- Seek learning from those outside your industry
- Never stop ideating, and nurture that creative well. Creative answers will come when you least expect it, and you never know when you’ll find a green light. The best way to find the best ideas is to have lots of ideas.
- When assessing risk: Failures are course corrections to success. “What ifs” are ghosts that will haunt you.
Leadership v. Noise:
- Leadership doesn’t announce itself.
- You don’t have to be the loudest, & you don’t have to perform. But you are what you do- be the best at it, and people will notice. Commanding respect and demanding attention are not synonymous.
On Cultivating Wisdom:
- Advisors, mentors, and guides aren’t building the road for you, they are walking the path alongside you. They advise, but can’t decide for you. The buck stops with you. Advisors aren’t nannies, they’re guides. You, and only you, are responsible for building your own business acumen. Misplaced blame excusing a lack of knowledge always exposes itself.
- I’ve had clients try to blame me (sue me) because I drafted their investment/loan agreements, and then they didn’t have the business acumen to pitch investors or build enough product to satisfy the loan. Similarly, I’ve had clients tune out conversations about strategically building businesses and giving away parts of their business (ie, VC and equity deals), and then are shocked when they wake up one day when they realize they don’t get 100% of a high-ticket buy-out.
- We can advise, but we can’t make you learn. That’s on you.
On Competition:
- If you’re competing, you’re already losing. Success is a lagging indicator, so you’re literally competing with the wake left behind someone’s bigger and better plans. Compete with yourself.
Opinions v. Actions:
- Keep your plans to yourself with prudence. There’s a difference between seeking strategic input, and productive procrastination. You usually don’t need “one more opinion”, you need to get to work.
- And you usually need an NDA.
On Joy In Work….Even In The Rough Seasons:
- You may not love this season of business. You might be completely burned out. That doesn’t mean it’s not valuable. Craft your work.
- Test yourself; ask what you can learn from this situation that you can get excited about. Excitement usually leads to action. You never know when what feels like a “side hustle” can become the gateway to the main gig (a la my calligraphy in 2016).
- Your purpose doesn’t have to be your job, but the more meaningful you make your job, the richer you make your life.
- Hold on to & cultivate your hobbies- the way they light you up is not accidental, and builds a richness of life.
The Secret to Entrepreneurship:
- Your bounce rate.
- The faster you start recognizing obstacles as opportunity, the quicker you cultivate a bounce rate.
On Challenges:
- Pioneers bear invisible scars, but scar tissue is stronger than what it replaces. Be willing to smile at the challenge of starting something new.
On Being An Early Adopter:
- Eyes forward, feet planted.
- Some ideas will hit you and can be executed immediately. Some take years of disquiet to bring to fruition. Neither is more valid than the other, but both require a deeply-rooted philosophy.
- Take the time to discover how to discern and cultivate that rooted wisdom.
Speed in Business:
- Rushing and acting with speed are two very different things.
- Be ready to act with quick, decisive action, but know those moments are usually preceded by a period of strategic patience.
- There is nothing strategic about “hurried” action. Learn the difference.
On Copying:
- You’ll encounter challenges, even disasters when it comes to copying. You have agency over your reaction, and to an extent, your preparation. Sometimes action needs to be taken; other times it’s more important to protect your creativity.
- You don’t have to be “flattered” when someone copies you. It’s not a rite of passage you have to take on the chin. But remember: They’re copying the trail of your vision. Stay focused on your creativity- you’re always three steps ahead, as long as you keep your vision focused on the future.
On A Rich Life:
Never lose sight of what’s most important. Your family, your people, the place you love- that’s the only thing that matters.
Home is the place that pours back into you. Business is the vehicle that gets you there. When you get the phone call that changes everything, you’ll immediately know which you regret neglecting.
