E73: Not many know it, but a lot of aspiring business owners run the risk of making expensive mistakes that could put their goals on hold before they ever take off. So, today, host Yong-Soo Chung  (@YongSooChung) shares eight important things he learned over eight years of building three businesses from the ground up. He shares how to have an exponential growth mindset, hire carefully, know when to switch between growth and preservation modes and build a strong environment for your company. On today’s episode, you’ll learn: - Growth vs. Preservation - 8 Truths About Entrepreneurship - The Impact of Hiring the Right People This episode distills down many years of entrepreneurial experience into one short episode. Don't miss it! *** SPONSORS: Riverside - If you have a podcast, do yourself a favor and check out Riverside. It's 100% free to start. Get 20% off using code FIRSTCLASS. Spotted by Humphrey - If you have a dog, sniff out the DEAL$ and wag-worthy finds at Spotted by Humphrey. Use code FIRSTCLASS15 to get 15% off your next order. *** EXCERPTS: Business Ecosystem: "Your business exists to serve three different stakeholders, vendors, employees, and customers. These there are the critical components of your business ecosystem. And the most ideal scenario is when all three of them win." — Yong-Soo Chung (13:15) Business Growth Mindsets: "You can think of business growth as either incremental or exponential." — Yong-Soo Chung (14:46) *** LINKS: How to Hire the Best Operators for Your Personal HoldCo I – We – They Framework: How I Scale My Personal HoldCo JOIN: First Class Founders Premium Membership DOWNLOAD: Hyper-Visuals For Our Episodes (Free) *** FOLLOW / REVIEW: - Follow - Leave 5-star review *** CONNECT W/ YONG-SOO: - X - Threads - LinkedIn - Newsletter *** First Class Founders is a show for indie hackers, bootstrapped founders, CEOs, solopreneurs, content creators, startup entrepreneurs, and SaaS startups covering topics like build in public, audience growth, product marketing, scaling up, side hustles, holding company, etc. Past guests include Arvid Kahl, Tyler Denk, Noah Kagan, Clint Murphy, Jay Abraham, Andrew Gazdecki, Matt McGarry, Nick Huber, Khe Hy, and more. Episode you might like: Future of Newsletters with Tyler Denk, Founder & CEO at Beehiiv From Zero to 100K Subscribers: How to Grow Your Newsletter like a Pro with Newsletter Growth Expert Matt McGarry ...