On Celebrating Five Years...

...this celebration is not just about looking back at what we've accomplished; it's also an opportunity to reflect on the lessons learned along the way.

This month marks a significant milestone for Modern Product as we celebrate our five-year anniversary. We've had the privilege of working alongside incredible clients on a diverse array of innovative and challenging projects. We've been extremely fortunate to remain at full capacity the entire time, with a 100% engagement renewal rate across 15 distinct clients!

That said, this celebration is not just about looking back at what we've accomplished; it's also an opportunity to reflect on the lessons learned along the way. Today, we'd like to share some of the insights we've gained in the last five years. Through three key lessons, we hope to provide fellow founders with valuable guidance and encouragement that can help them on their own journeys.

Lesson 1: Embrace Ambiguity and Stretch Yourself

When Modern Product was just getting off the ground, we quickly realized that no two projects would be the same and that there would be aspects of every engagement that would take us out of our comfort zones. If we were going to see success as a consulting practice, we recognized the need to embrace that ambiguity and look forward to those opportunities to stretch ourselves. By leveraging our expertise as a springboard into new challenges and new opportunities to learn, we were encouraged to seek out diverse engagements with clients across different industries. Now, we always look forward to kicking off new engagements, for the opportunity to face the ambiguity and learn along the way. 

So our advice to new founders is to make full use of your expertise and experiences, not as a constraining box that limits your focus, but as a springboard into the ambiguity that's out there.

Lesson 2: Commit to Business Development 365 Days a Year

One of the earliest commitments we made for Modern Product was to continually invest time in business development. When Modern Product was just getting off the ground, we had no idea how client engagements would pan out, nor how often new client opportunities would arise. We received the advice that all consultant founders get, that we would need to be prepared for the "feasts and famines" of client work. One of the best decisions we made early on was to commit 5 hours per week to business development activities as a preventative measure against the feast/famine swings. We've maintained this practice over the years, and it has proven to be worthwhile several times over. This commitment has played a pivotal role in our sustained growth and success over the last five years.

Our advice: never turn down an introduction, invest time in all forms of networking, even the most casual coffee chats, and apply success metrics to these activities to hold yourself accountable.

Lesson 3: Enjoy the Surprises Throughout the Journey

One of the most rewarding aspects of being a founder is experiencing the unexpected surprises that come along the way. The entrepreneurial journey is filled with twists and turns, and it's important to savor these moments and appreciate the growth they bring. Over the five years of Modern Product's existence, we've had several surprises pop up that, in hindsight, have been pretty cool. 

• We landed a client engagement with a dream brand. 
  
• A random coffee chat about Modern Product's business model unexpectedly led to a client engagement four years later.
  
• We've reconnected with old colleagues and classmates from 10, 15, 20 years ago.

Looking back, the surprises have been a delight to reflect on, making the entrepreneurial journey of being a founder that much more rewarding and rich. 

So our recommendation to founders just getting started: enjoy the journey's unexpected turns and dedicate time to looking back and reflecting on the good, the bad, and the ugly along the way. Treat everything as a learning opportunity.

Conclusion

Being a founder is as challenging as it is rewarding. The past five years have taught us that while the road may be unpredictable, it's essential to enjoy the journey and focus on the learning opportunities it presents. Each client engagement has contributed to our growth and success. Hopefully this post provides encouragement and inspiration to those of you diving into the founder consulting journey!