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5 Things I Learned About Starting and Growing my Own Company
Entrepreneurship: it’s one of those clear-cut topics where you’re either doing it, aspiring to do it, or naysaying those who are embarking on it. There truly is no middle ground.
I dreamed of starting my own business for many years. When I finally bit the bullet and walked away from my corporate PR job, it required strength, determination and an enormous amount of elbow grease. While I have covered a lot of ground in my first year in business, I’ve also made mistakes.
Here then is what I learned during my first twelve months as an entrepreneur:
1. About Hiring People I Liked…
There’s something to be said for mobilizing your existing network. This is exactly what I did when I left my career in PR: “Who do I know who can build a website for me? I wonder if that photographer I know from my media event can do headshots for me…?” and so on. In theory, using my existing network made sense, but it also caused unforeseen challenges. While it’s all well and good hiring people with whom you have enjoyed working, it shouldn’t be the deciding factor. Because when they produce subpar work, it’s a lot harder to convey that if they feel like your bestie.
Bottom line? Understand the value of the old saying “It’s not personal, it’s business.”
2. Build it, and They Will Come
Spoiler alert — they won’t. You have to hustle to be heard above the cacophony of noise out there. Our world is getting noisier, and new social media platforms and methods of communicating are popping up all the time. To succeed in business and ensure that your message is heard and product noticed, you need a plan, laser-beam focus, and all the conviction and determination you can muster. Otherwise, that impact you want to make? You won’t even make a dent.
3. Overt Generosity with Freebies
In the era of content marketing, entrepreneurs understand we need to give away freebies in order to establish our credibility as an expert in our fields (there’s a reason why the old adage “content is king” still rings true today). However, there comes a time when if someone wants the true benefit of your goods and services, they need to cough up the dough. Lesson? Beware of the chronic freebie-accepter.
4. A Fear of Selling
As a heart-centered entrepreneur, my motivation is simple: to help people. While this lofty vision is admirable, here’s some real talk, as well: if nobody knows what your offerings are and why they need them, you ain’t gonna help a soul. Over the past year I’ve noticed the troubling theme that business owners in the spiritual and wellness realm are generally squeamish about selling their wares, as they see earning the big bucks as somehow less enlightened. The truth? It takes money to help people. You need capital if you are to expand your business, develop new programs and ultimately build a bigger platform to reach more people. If this sounds familiar, try the mantra “Sharing is selling” to help face your fear of the big S.
5. Get Comfortable with Your own Discomfort
Admittedly, this one is more of a motto than a lesson. The truth is, if your friends and family all say they love your brand new photography and the new look of your website, it all feels rather pleasant, but you don’t necessarily learn a thing. But for the one brave consultant who says, “Does that photograph convey the correct message to your audience?” or the networking contact who straight-up tells you why your social media following isn’t growing – those people are worth their weight in gold. The drawback? It’s uncomfortable to hear it, but you have to check your ego at the door if you want to grow, improve and move forward.
