It was Labor Day weekend 2010 that I first became an entrepreneur. My dad and I started a disaster restoration franchise together. We signed the paperwork at my aunt and uncle’s house over the holiday weekend (there is photographic proof somewhere). I was quitting my job, selling my house, moving back to my hometown, and living with my parents until we started making money. I really didn’t have a great idea of what I was getting myself into; I just knew that I always wanted to have my own business someday.
Fast forward a full decade later. I’m on my second business (which I love and is a much better fit for me) and I know a whole lot more about the small business world. Here are some thoughts on what I’ve learned over the past 10 years - one for each year. This is by no means an inclusive list, just what’s coming to mind right now as I reflect.
Vision is KEY.
Your vision for your business and your dreams for your life are what sustain you through the ups and downs of entrepreneurship. It’s been called many things: start with why, begin with the end in mind, etc. If your vision isn’t strong enough, the obstacles may be too hard to overcome. Every time I think about quitting (and we all do), my vision and what I want to accomplish quickly squashes that notion.
Never stop learning.
I remember the first time I picked up a business/self-help book a couple years into my entrepreneurial journey. Totally changed my entire outlook. I wish I had done it sooner! Self-help books get a bad rap, and there are some terrible ones out there. But a common theme among successful entrepreneurs is that they read, learn, and implement. I’m now part of multiple business book clubs and the principles I’ve learned are invaluable. I also follow entrepreneurs I admire and learn from them in other ways as well. There’s no shortage of courses, webinars, and events that contribute to your education and success.
Help is out there.
It can be very lonely running a business. Everything stops with you, after all. That will always be true, but it doesn’t have to feel like you’re on a deserted island. Help doesn’t appear by itself, so go get it! If you seek it you will find it. My networking circles, my inner entrepreneurial circle, my mastermind groups, my coaches, have all helped me shape my business and made the process less lonely and more fun. It’s tempting to put this on the back burner - DON’T. Make your people a priority, it’s worth it.
The right people make all the difference.
The right butts in the right seats are critical to success. Don’t hire because you need someone stat, hire because they are the right fit. Put time and thought into the hiring process because the right hire will elevate your business in amazing ways. This applies to vendors, too. Cheap isn’t going to help you if you don’t get the results you’re looking for. By the way, this goes for you doing too much in your business. If you’re not great at it, your goal should be to delegate or outsource it. Period.
You should perpetually be outside your comfort zone.
Entrepreneurship isn’t the same as a job that you can thoroughly learn and then rock it. As your business grows, your role will keep changing and you have to learn the new stage. If you don’t feel like you’re a little bit out of your comfort zone, then you’re probably not growing the way you should. There are countless moments that I’ve felt shaky and nervous to make the call, sign the thing, push the button. Feel the fear and do it anyway.
Design it the way you want…
This is your business. Make it what you want! Don’t be afraid to think outside the box and make it happen. Innovation doesn’t happen when you do it like everyone else.
… but it will take awhile to get there.
This isn’t a get rich quick scheme. There are often years of hard work put in before you get the payoff. But the payoff will be spectacular.
Treat yourself as you would your best employee.
This is one of the most common things I see with entrepreneurs. They don’t make themselves a priority. Don’t pay themselves, work too much, don’t take enough time off. Please don’t do that to yourself. One of your first financial goals in your business should be to grow to the point of paying yourself a salary (a real, regular one that you’d get somewhere else, not just a couple thousand here and there). Money and time are great ways to avoid burnout. Ask me how I know.
Create a thoughtful customer experience.
Customer service really isn’t hard. So why do so many businesses screw it up? They don’t put enough thought or emphasis on it. It’s a given that you need to be good at what you do, but the customer experiences more than just the “product”. Put a little thought into the entire customer journey, from the very first point of contact (even before they are customers). Small touches don’t take much to do but make a big difference. Then bake your customer experience into everything you do.
Profit is the bottom line. Literally.
I’d be remiss if I didn’t mention this. Profit is what makes your vision and dreams possible. The sooner you realize this, the better off your business will be.
Now let’s go build our dream businesses!