Competition is harsh, and it will test your resolve, your relationships and your ability to get back up off the canvas one more time. No one owes you anything, and you have to operate with that understanding flashing like a neon sign in your mind at all times. Roman Temkin talks more about this on his latest presentation.

1. 3 Hard Truths Every Young Owner Must
Embrace
Okay, so here you are about to embark on your journey as a business owner. You are young,
idealistic and uniquely suited to the task at hand. You are ready to make the tough calls, suffer
the consequences of mistakes and celebrate your wins … but have you come to grips with the 3
harsh truths that every young CEO must embrace?
First, no one will make this easy for you.
Competition is harsh, and it will test your resolve, your relationships and your ability to get back
up off the canvas one more time. No one owes you anything, and you have to operate with that
understanding flashing like a neon sign in your mind at all times. There will never come a time
in which you should allow yourself to feel entitled to something you did not earn. If you operate
under this rule, you will find yourself both emotionally healthier and more successful.
Second, this will be hard. Really, really hard. Like, completely life changing hard.

2. You will not be the same person next year that you are right now. I don’t mean that you will be
happier and having fun running your own life. I mean that the fight, the struggle – all of it – will
change you. You may be better. You may be happier. But, there is no doubt you will be different.
Third, you will have to risk more than you expect.
Anyone you talk to will tell you business costs more than you expect it to. But rarely does
anyone really come out and say you will have to wager more, to risk more … to bet everything
you have and then find more to ante up and kick in. Where can you find “more” when you have
already bet everything. You just do, trust me on that one. You just do.
If you are willing to go it alone, to make your own way when it’s impossibly hard and the risks
are far greater than you could ever imagine … if, facing all of that, you still look it square in the
eye and move forward, you may just have what it takes to earn success.
Roman Temkin is a real estate developer and an entrepreneur from NYC.