Amy Osmond Cook has had an incredible entrepreneurial journey. From co-founding Stage Marketing in 2004 to co-founding Utah-based Fullcast earlier this year, Cook has learned that this experience isn’t just about the big wins — it’s about the real, practical lessons learned along the way.

From navigating funding rounds to managing explosive growth, Cook, chief marketing officer at Fullcast, has eight pieces of advice for those working in the trenches and coming out on top.

1. Hire a smart, hardworking team.

There’s a reason Cook didn’t lead off with experience as a primary requirement. “Experience matters less because people can learn, if they are smart and hardworking,” she said.

Although information and abilities are valuable, Cook understands the value of the innate traits of intelligence, hard work and cooperation. By prioritizing these qualities, she builds a flexible and dynamic team that can handle a range of obstacles. Cook’s strategy heavily emphasizes the value of a cooperative spirit and a strong work ethic, which creates the groundwork for a resilient and creative company.

2. Understand that a startup is controlled chaos.

Recognize that a startup is organized chaos. Startup teams must adapt to change, Cook said. Nearly every day, new problems surface, projects change course and priorities shift. This dynamic needs a team to persevere through uncertainty and grow as a unit.

Cook’s observation makes clear that what enables startup teams to successfully manage the chaos and advance the business is their capacity to maintain adaptability and resilience in the face of continuous change.

3. Research to see whether there’s a product-market fit.

Did you know 34% of failed small businesses lacked the proper product-market fit? Consider size, need and customers.

“There are lots of organizations, lots of startups that don’t know who their competitors are, and they don’t know what their (total addressable market) is,” Cook said. “They don’t know whether they have customers to fill that need. And so if you don’t understand the size of your market opportunity, it’s pointless to do the other things.”

4. Recognize that the first $10 million must be founder-led.

Business owners who started a successful startup in the past have a business success rate of around 30% when starting a new venture.

“If you have a CEO that’s not willing to prospect, you’re not going anywhere,” Cook said. In the early stages of a company, the founder’s passion, vision and hands-on approach are indispensable. Founders set the tone and pace, demonstrating commitment and drive that inspires the entire team.

A CEO who actively pursues prospects secures critical early revenue and gains personal knowledge of the market and client requirements. This involvement helps lay a solid platform for future growth and guarantees that strategies align with actual circumstances.

5. Mistakes happen.

How you respond to those mistakes is the key. “These responses determine the culture of your organization, and it measures people’s ability to be honest and transparent,” Cook said.

Cook’s viewpoint emphasizes how constructive reactions to mistakes foster resilience and lay the groundwork for accountability and trust. This strategy encourages staff members to take responsibility for their mistakes, which promotes ongoing development and a stronger, more cohesive team.

6. Culture keeps people motivated — not just money.

“If you can prioritize paying smart people well and attract people who are fun and great at collaborating, that is the best bet you can make. Bet on your team,” Cook said.

Competitive pay is vital, but what really attracts and keeps great people is the organization’s culture. Establishing a work atmosphere that makes workers feel appreciated and enjoy what they do while working with enthusiastic, like-minded coworkers fosters a sense of purpose and belonging.

7. Know your marketing budget and stick to it.

It’s tempting for new companies to experiment with a flexible marketing budget to see what works and invest more in that area.

Don’t do it. Stay true to your annual budget.

Approximately 30% of startups with venture backing end up failing. It’s not because they suffered from bad ideas. It’s that they spent too much money on those bad ideas.

8. You must love what you do.

“You have to be a practitioner of your craft for the best results,” Cook said. “You have to love what you do.”

Being a practitioner of your craft means being hands-on and prepared to handle every task if needed. This thorough comprehension guarantees you can meet obstacles head-on and improves your capacity to guide and lead your group.

Loving what you do gives you a sense of fulfillment and purpose, which motivates you to work toward your goals and encourages others to follow suit.

The eight pieces of advice Cook gathered and lives by reflect the insights of seasoned entrepreneurs who have faced the same trials, proving that the path to success is paved with invaluable lessons learned through experience.

By sharing these practical insights, Cook empowers others to navigate their own entrepreneurial journeys and reminds us that every step — big or small — contributes to our growth and success.

J’Nel Wright is a content writer at Fullcast, a Silicon Slopes-based, end-to-end RevOps platform that allows companies to design, manage and track the performance of their revenue-generating teams.