While running your business, you’ll encounter lots of people who know better. You should listen to them because sometimes they’re criticizing you for the right reasons—sometimes they see issues that you’ve failed to notice. However, don’t feel obligated to follow their advice; in the end, it’s your business.

When I was running Trend, I received many compliments about the well-written articles and relevant and interesting topics. Especially during its first three years, Trend filled the gap between accessible fundamental economic knowledge and university texts with their unwelcoming scientific language. We were doing something that was needed.

But not all reviews were positive. Some people suggested that the magazine cover should be stronger, the format should be a bit smaller, our web page should be more modern, etc. What those people didn’t know, though, was that all those changes would generate expenses that could make the magazine unprofitable. Of course, I was aware of our shortcomings, but I considered them trivial—to me, the quality of the articles was far more important. Since my own money was at stake, I had to learn how to compromise between quality content, design and cost optimization.

Helpful advice: Remember that if you do something meaningful, you’ll have both fans and haters. Doing something in the public eye means setting yourself up for judgment. And all those critics can eventually be helpful for the business.

In the world of media, there’s this one rule: One day you’re in, and the next day you’re out. I was surprised to see that this rule applies not only to trashy gossip magazines but also to the financial world. And I was surprised to see how often the worlds of finance and culture (high or low) intersect.

First, I learned that being in the spotlight usually doesn’t last. If you’re good at whatever business you’re doing, you’ll probably be at the center of media interest regularly. But, don’t get used to it. Interesting stories come and go in the media world, and this is quite normal. Whether you do something really good or terrible, don’t feel overwhelmed by it, as people will forget about it sooner than you think.

The second thing I learned is that being at the center of media attention is nowhere near as glamorous as it may seem from the outside. A party packed with celebrities is still just another party, but with more expensive clothes and less authentic smiles. Those people fight for media attention to please their sponsors and managers (because, after all, publicity is what drives their careers). And even though most celebrities don’t have anything interesting to say, journalists will still interview them because they need the content. It’s not a hard-and-fast rule, but if you’re looking for genuine, quality conversations, look outside parties.

Helpful advice: Remember that the media can both lift you up and drag you down. PR is an art, and mastering it can give you a huge advantage. Nevertheless, you don’t need to attend every fancy party, as most of them are overrated. What’s more, being in the spotlight is short-lived if there isn’t actual work and an engaging story behind it.

Having a business is not only about what you do, but also about what you don’t do. It’s not just about the people you meet or work with, but also about the people for whom you don’t have time.

In the entrepreneurial world, you often need to say goodbye to an unsuccessful project or to people (sometimes partners) who let you down. And usually, it’s hard because of your prior commitments to them. But at the end of the day, saying goodbye is a good thing, because in business, that teaches you how to prioritize, and how to value your time and money.

Helpful advice: Every end marks a new beginning. If you lose something, you’ll gain the time and strength needed to do something else. Dealing with loss is emotional, but you’ll handle it.