Last year, I was laid off from my full-time job due to the pandemic and transitioned into launching my freelance writing business. What went from a tentative idea forming in my mind at the beginning of 2020 turned into a full manifestation. I diligently sat at the drawing board and checked off the standard tangibles for starting a business, from conceptualizing a name to office supplies. What I’ve learned throughout the process however, is that no matter how much research you conduct (and trust me, I’ve done my fair share of googling and sorting through a swath of articles), there’s always something new to learn! Operating a business is dynamic, there’s no set formula on how to successfully manage your brand.
As I reflect on my first year-and-a-half of being an entrepreneur, I wanted to share some crucial lessons that you can perhaps apply to your own professional life.
Be innovative
Flexibility is integral in running your business. If you expect to service customers years from now, it’s important to continuously update and improve your business according to the shifting demands and changes in your industry. If you haven’t already, spruce up that website, modify your social media pages, revamp your marketing strategy, introduce a new product, or learn a new skill. Howard Schultz, chairman and chief executive of Starbucks for over 20 years, reminds people that “Innovation must be disruptive. And by disruptive, I mean disruptive. You gotta fracture and break the rules and disrupt.” Innovation is the heart of business and requires leaders to either improve existing products, methodologies, and processes, or implement creative concepts from scratch. When I initially formed my business, I gathered basic components to get it off the ground. After about eight or nine months, I took the initiative to get my website redone, update my logo and business cards, become an LLC, and reorganize my workspace. I even purchased a MacBook, and if you know me, you know I was team PC for the longest. All of these investments were made to sustain my business and maintain its momentum. If you don’t innovate and invest in your business, you will be scrambling to catch up in your industry.
Eliminate unnecessary things that aren’t serving you
What began as something that might’ve been highly instrumental during the first few months of your business, is now tedious and obsolete. Only delegate your time and attention toward beneficial things. If you spent ample time navigating through an invoicing system that doesn’t have all the features you need for your rapidly expanding business, then cancel your monthly subscription and test out a new invoice management processor. Maybe you’re offering a certain product or service that isn’t selling like you had hoped, or it’s consuming too much of your energy. Filter through those energy drainers. This includes clearing up any mental blocks or hang ups that might prevent you from propelling forward. The purpose of being in business is helping others but also doing something you’re passionate about. If you no longer have the drive to market this particular product, then you’re only doing a disservice to yourself by keeping it.
Consistency is your best friend
Truth be told, I was never a morning person. When the bright sunshine peeked through my blinds I would crankily roll over to the other side of my bed. Once I launched my business, I established a morning routine, which I follow to this day. This includes checking and responding to emails, monitoring client project deliverables, setting deadlines, marketing, and managing my social media and business workflow. Consistency is a contributing factor to your success because it helps you gain momentum. It’s a constant process that you have to place the utmost effort and dedication into in order to complete tasks and cultivate your growth. Everyone wants results, but it’s about putting in the necessary work to get there. There are times where you might not feel like doing something, but you must push yourself to achieve that goal. That’s what separates a business-oriented person from a non-business-oriented one. Why? Because business-savvy people who have been staples in their industry for 10-plus years see the big picture. When it comes to longevity, focusing on the concrete aspirations and benefits should always outweigh current negative feelings.
Celebrate small wins
Despite the instant success stories you hear online, 9 times out of 10, you’re not going to make it big overnight. If you find yourself comparing your business to others, remember that It’s good to keep things in perspective and focus on your minor milestones because they’ll eventually serve as stepping blocks to larger achievements. Reflecting on your progress invites more creative output and boosts your gratitude, pride, and motivation. Small victories give you a warm fuzzy feeling inside and fuel you to continue making that progress!
Know your boundaries
This goes without saying that we’re still human. There are going to be moments where you know internally that meeting this deadline for a complex project in x amount of time isn’t feasible, or you have a lot of orders to fulfill before 5pm and an incoming customer is requesting that his or her order be completed by 4:30pm that same day. There might be some client or customer requests that don’t align with your business model and practices, exceed your boundaries, or are difficult to finish in such a tight time frame given your other commitments and responsibilities. If these situations arise, be realistic and transparent with yourself, your potential clients, and your schedule by asking to adjust the deadlines or politely declining the project. When opportunities present themselves, it’s extremely difficult for business owners to say “no.” We feel like we need to say “yes” because we carry a false notion that we’ll get everything done within that short period. In reality, we’re piling extra things onto our plate when we already have projects in cue, ultimately leading to spreading ourselves too thin. Operating from a “scarcity mindset,” meaning you feel like you need to accept every opportunity, only leads to under eye circles, loads of caffeine, stress, and anxiety.
Surround yourself with people who inspire you
My social media timeline consists of fellow business owners, content creators, and creatives who craft spectacular products and offer wonderful services in numerous industries. I love following and scrolling through posts of people accomplishing fantastic things. I also try to show support anytime I can. The list can include local business owners, professionals on LinkedIn, creatives from the online community, and people who transformed their companies from start-ups to large-scale operations. Attend meet-and-greets, sign up for virtual and in-person networking events, join business group chats, and listen to podcasts and seminars. Not only does following other ambitious, goal-setting people motivate you to continue building upon your business, those entrepreneurs can also extend great networking opportunities to help expand your clientele, connect with industry veterans who can provide expert tips and advice, stay on top of industry trends, and lead to recommendations, openings, and referrals.
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