Running a business is hard! Talk to anyone that’s been in business for over a year, and they will surely have a whole list of things they wish they had known before they started their business. Today, I’m sharing my favorite lessons!
1. It’s OK to Fail
In fact, failure is GOOD! Embrace it. Playing it safe is no way to run a business.
2. Stop Worrying About People “Stealing” Your Ideas
Ideas are a dime a dozen. At any given moment, there are about a zillion people doing something similar to what you do. Very few ideas are entirely new. If you notice someone doing something eerily similar to what you’re doing, take it as a compliment, and make sure you continue to do things better. Wasting time complaining about someone stealing your ideas isn’t going to help you grow your business. If it feels icky, reach out to the person, or contact an attorney to learn your rights. If you’re not prepared to do either, then stop complaining about it.
3. Become an Expert Communicator
Communication is everything. Communicate with your clients, your audience, your employees, your partners or investors, your accountant…everyone. Volunteer information before people have to ask for it. Educate them. Put together materials to help them understand your process. Say happy birthday.
4. Competition is Your BFF
Don’t be one of those business owners paralyzed by their competition. Keeping a watchful eye on your competition is a great way to learn, to grow, and to develop ways to stand out. Sometimes, the people you think are your competition, aren’t, because they have an entirely different target market. Great referral relationships can be formed between similar businesses if you stop looking at everyone as someone taking away your business! This one is SO important, so dig deeper here. No one can take away your business. If people are looking elsewhere, you’re failing to win them over. Your bad.
5. Expect the Unexpected
Create a schedule, and create a workflow, but be open to change. Sometimes, things come up, and your schedule is shot to hell. So what? If you’re not able to roll with the changes that put a wrench in your plans, you’re going to wind up a miserable ball of stress. That’s not a good look for anyone. Check out these four tips to being more flexible.
6. Don’t Make it All About the Benjamins, Baby
Puff Daddy had it all wrong. Money is great. Without it, I wouldn’t be able to spend nearly enough time with my sophisticated BFF, Kate Spade. But if all you’re doing is obsessing about building your bank account, you’re going to burn out. Be sure you enjoy what you’re doing. Running a business is hard work. If you’re not enjoying what you do, what’s the point? You could work for someone else, to build their dreams, and surely make just as much money, without all the extra stress. Money can’t buy happiness.
7. Your Friends and Family Won’t “Get It,” and It Won’t Matter
No one can understand what running a business is like, unless they’re running a business. Likely, your friends and family won’t understand you. They’ll underestimate the amount of time and energy you put into your work. You’ll be questioned, and tested, by people that you care about, and it will hurt sometimes. Other times, it will completely piss you off. Stop expecting them to understand. Find a tribe where you can vent and talk business, and let that be the place you go for support.
8. Don’t’ You Dare Win People Over With BS
Say what you mean, and mean what you say. Be authentic. Far too many business owners take the shock and awe approach, using total bs to attract people. In a FB group I’m in, someone admitted to putting out a training along the lines of “see how I made $10,000 in one week” when they never made even close to that number. Don’t be that guy (or gal!).
9. Treat Everyone Like a Person
Every single business is run by a person. Treat them as such. Be kind to everyone, always.
10. Be the Source
Set out to make connections. If you’re not a good fit for someone, refer them to someone that is. Sure, it can be aggravating to give someone else business, but the customer/client will appreciate it, and people always remember the source. Focus on helping people, even when it means they are spending their money elsewhere. People won’t forget it.
11. Put Yourself First
Exercise regularly. Block off an hour during the day to do something you enjoy. Get enough sleep. Your business will flourish when you’re taking care of yourself. It’s impossible to do your best work when you’re burned out and exhausted.
12. Never Stop Learning
You’re not an expert. You don’t know it all. I don’t care who you are; you will always have more to learn. Invest in yourself, and aim to take at least one course, or attend one seminar, or read one fantastic business book per quarter.
13. Time is Your Most Precious Commodity
Use it wisely. Be strategic about designing your days. If someone wants to chat with you for an hour about your business, but it honestly would not benefit you in any way, decline. If something isn’t working, stop doing it over and over again. Wake up an hour earlier, go to bed an hour later, or give up Thursday brunch, if you need more time. You CAN have more time because you have control over how you use it.”But Kimmmm, I don’t want to have to give anything up!” Tough. Sometimes it has to happen. Put on your big girl panties and deal.
14. Think Like Nike and “Just Do It.”
Research is necessary. But at some point, you need to trust that you’re ready to take action, and just do it. You’re not getting paid to Google. Do your due diligence, and jump in. You can always make changes as you go, and you’ll surely fail sometimes, but you’ll be moving. Don’t fall into the “I’m not ready” trap that often holds business owners back from taking a step forward.
15. Bring on the WOW
Only meeting expectations simply isn’t enough. People don’t talk about things that met their expectations. They rave about things that blew them away at every turn. Learn how to cultivate loyal customers with these tips!
What tips do you wish you knew before starting your business? I want to hear from you!
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