8 Lessons from My Journey to Entrepreneurial Freedom and Growth

Over the past five years of running Bonanza, I’ve made more mistakes than I’d like to admit. I’ve burned through money, faced countless “downs,” and at times, I’ve seriously doubted myself.,But here’s the thing: I’m proud of those mistakes. Why? Because they taught me lessons no book, no webinar, and no MBA program ever could.

Last week, I shared some of the hard-earned lessons at Employed.world's inspiring founders event hosted by Venture Café Berlin. Here they are.

1️⃣ Freedom isn’t free.

I left a unicorn startup because I couldn't compromise on my values. For me, financial freedom and creative freedom are non-negotiable. Freedom demands sacrifices—and they are always worth it.

2️⃣ Your “why” isn’t always clear—and that’s okay.

Everyone talks about “finding your why,” but I’m 13 years into my entrepreneurial journey, and I’m still ironing out mine. What I do know is this: my ultimate drivers are keeping my financial and creative freedom.

3️⃣ Money should never be the primary goal.

In 2022, Bonanza hit nearly ~1M EUR in revenue. In 2023? 700k EUR. (against initial 1.5M EUR projection). That dip in revenue hurt more than I’d like to admit, but it taught me this: progress isn’t linear. Revenue follows an S-curve—up, down, up, down. If you’re chasing exponential growth every year, you’re setting yourself up for a big disappointment.

4️⃣ If you’re not growing, you’re shrinking.

Growth isn’t just about revenue. It’s about constantly improving—whether it’s upgrading your tech, refining your systems, or nurturing your team. You can increase your profit margin by increasing your revenue or reducing your cost.

5️⃣ Systems are everything.

Automate 80% of your work. Build processes. Delegate. Then pour your energy into the 20% that makes your business unique.

6️⃣ Know your business DNA.

Before you scale, ask yourself: What kind of business am I really building? A cleaning business? It’s all about constant hiring and training. A creative agency? It’s about generating demand and delivering excellence. Misunderstanding your business model will cost you—every single time.

7️⃣ Timeframe matters! 5? 15? 30 years?

If you’re playing for the long haul, you’ll make different decisions than if you plan to exit quickly. Get clear on your goals. Be honest with yourself. What’s your timeframe?

Bonus —

8️⃣ Develop Contrarian Thinking

It’s easy to follow the crowd, but true value comes from questioning assumptions. This is the core of scientific thinking: Apply first-principle thinking and question everything. If you don’t question, you’ll only access to what everyone else already knows—and that doesn’t drive innovation. (Imagine if you’d put all your savings into Bitcoin ten years ago and commit not touch it till now!)

At the end of the day, entrepreneurship doesn’t care about your feelings. It will punish laziness and reward focus. ,

Unmasking the Ups and Downs of My Entrepreneurial Journey

Over the past five years, running Bonanza has been an expedition - filled with unmatched challenges and unexpected rewards. As someone championing the frontlines of entrepreneurship, I've made countless errors - from squandering financial resources to facing unfathomable lows, even doubting my own capabilities at times. Interestingly, these slips have become my greatest teachers, illustrating lessons that no book, webinar or MBA program could ever teach me.

Last week, I was privileged to share these invaluable lessons at Employed.world's inspiring founders event hosted by Venture Café Berlin. Each lesson, a manifestation of my own experiences, walks through the significant steps of my entrepreneurial journey. They illustrate that entrepreneurship isn't just about managing a successful business but also about self-discovery, growth, and resilience. So, let us dive into these lessons and truly understand what it means to walk the path of an entrepreneur.

The Price of Freedom

Entrepreneurial Freedom Comes at a Cost

Leaving a secure job at a unicorn startup allowed me to venture down the path of entrepreneurship. Yet, this was no easy decision. It meant compromising my financial stability and diving into the unknown. But standing at this juncture, I am reassured that no freedom, financial or creative, comes without a price. It demands sacrifice, dedication, and no small amount of grit. Every difficult decision and every compromise I made has been worth it, truly embodying the adage - No pain, no gain.

Understanding the Essence of Freedom

Understanding the essence of freedom is vital. It's not just about shaking off the constraints, it's about identifying what truly matters. Freedom in entrepreneurship symbolizes moving towards your envisioned goal unrestricted and unhindered. It's about making your own decisions and learning from the outcome. It's about falling, getting up and dusting off the defeat to set on for the next victory. This is what my journey has taught me.

"True freedom is understanding the essence of what you wish to achieve and moving towards that goal unhindered."

Navigating Your 'Why' While Chasing Monetary Goals

Deciphering Your Why

Everyone talks about "finding your why", but let's face it - The path to understanding your true motivation can seem elusive. I can vouch for this since it took me 13 years into my entrepreneurial journey to figure out mine. If you're struggling to identify your drivers, remember, it's okay. Give it time. Along the way, you will come to understand that maintaining financial and creative freedom mark the core foundation of your entrepreneurial spirit. Finding your 'why' is a continuous process, not a one-time destination.

Chasing Monetary Goals - A Mirage?

A sobering realization in my entrepreneurial journey was that revenue isn't the ultimate goal. In 2022, Bonanza touched nearly ~1M EUR in revenue. The subsequent year? We accomplished 700k EUR, although our initial projection was 1.5M EUR. This dip stung, but it was an invaluable reminder that progress isn't linear, and neither is revenue. It follows an S-curve moving up and down. Chasing exponential growth every year can set you up for disappointment. The true victory lies in learning, growth, and improvement.

• Understanding your 'why' is a continuous process, not a one-time destination.
• Revenue isn't the ultimate goal - learning, growth, and improvement are.

Evolving with Your Business: Growth and Systems

Understanding the Meaning of Growth

When it comes to business, 'growth' isn't just about escalating revenues. It revolves around the idea of constant improvement in your technologies, refining your systems, developing your team, or even your personal growth as an entrepreneur. It's essential to understand that you can increase your profit margin by not only escalating revenues but also by reducing costs. Efficiently utilizing your resources and making wise investments form an integral part of the growth strategy. Continuous improvement is the ongoing process of analyzing performance, identifying opportunities, and making incremental changes to processes, products, and services.

Relevance and Power of Systems

My years of experience have etched one fact in stone - systems are vital for efficient functioning and ultimate success. Embracing automation and delegating tasks can empower you to focus on crucial areas that truly make your business stand apart. Organized systems and efficient workflows are the backbone of every successful enterprise.

"Systems are the backbone of efficiency in business."

Recognizing Your Business DNA and Long-term Goals

Identifying Your Business DNA

Before you dream about scaling your business, you must ask yourself one vital question - What kind of business am I really building? Understanding your business DNA will define your path to growth. If you're running a cleaning business, your focus should be on constant hiring and training. If it's a creative agency, generating demand and delivering excellence should be the key. Misunderstanding your business model can cost you - every single time. Understanding your business DNA can help you know what you can and cannot change about your business model.

Deciding Your Timeframe: Long Haul or Quick Exit?

One significant decision that you must make early on in your entrepreneurial journey is defining your timeframe. If you're in for the long haul, your decisions will be vastly different compared to planning a quick exit. It is pertinent that you are clear in your objectives, and be honest with yourself. This decision will dictate the strategies and pathways you adopt, ultimately shaping the future of your business. Setting long-term goals is crucial for defining the direction and success of your entrepreneurial journey.

Cultivating Contrarian Thinking: The Path to Innovation

One bonus lesson that I would like to leave you with is the importance of contrarian thinking. It's easy to follow the crowd, but true value comes from questioning assumptions. This forms the core of scientific thinking—where you need to apply first-principle thinking and question everything. If you fall into the habit of unquestioned acceptance, you'll only limit yourself to known boundaries, thereby stifling innovation. Be the one who dares to step into the unknown—the one who leads the innovation and defines the path. Dare to be boring, in the sense of stepping beyond the excitement driven by mere novelty towards what really builds lasting value.

• Dare to question the status quo and challenge assumptions.
• True innovation requires stepping beyond known boundaries.

Finding Strength in Failure: Extracting Gems from My Journey

Failure can be a hard pill to swallow, especially when the stakes are high and dreams are big. But each failure, each stumble is a lesson in resilience. The key is to find strength in failure and to see each setback as an opportunity for growth. My journey has taught me that entrepreneurship never eases up—it constantly tests you, pushes you to strive for better, and demands the absolute best from you. And despite the trials and setbacks, the rewards are unparalleled.

"Embrace failure as a stepping stone to mastery and resilience."

In essence, entrepreneurship isn’t about the destination—it’s the journey where you nurture your courage, tenacity, and resilience. It’s a path that rewards those who maintain focus, challenges conventions, and dares to be different.

Remember, there are no shortcuts to success. But, as I have illustrated, there are lessons to be learned, values to be embraced, and strategies to be implemented. The journey to entrepreneurial freedom and growth certainly isn't an easy one, but armed with these lessons and guided by your vision, it's a journey you can navigate with confidence and resilience.

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