11 Jan 2019
Five things learned in the first six months of trading...
1. There is no standard entrepreneur - so don't compare yourself.
Having the opportunity to go to networking events over these past couple of months has been amazing! It did however, mean that I met a lot of people that appeared to have a lot more experience than me - be it with the length of time that they had been trading for, or simply the access they have in regards to who they know within their sector. I unconsciously used the events as a place to convince myself of all the reasons why I was not a 'real entrepreneur’. The truth is, I became my biggest critic. But the fact was, no one else there was thinking the same, they were just there to make connections. Every business is different, therefore every entrepreneur will be, so just be you!
2. You know your business best, but you'll still need help along the way.
It’s very easy to think as a business owner you must be self-sufficient. I thought that I could learn how to do everything and I didn't want to rely on anyone in order to get the job done - for me, that meant losing an element of control over the business. However, once I took on my first order, I quickly realised that I needed help! There was no way I could fulfil the requirements on time alone. The best way I can sum this up is: unless you're working on one off bespoke pieces, there may come a time where you can't do everything alone, especially if you're not working on your business full time, and that's okay! Be open to asking for help and failing that, at least have backup sources that could help you if you need it later on down the line.
3. There's always a solution to a problem, be prepared as it may not be the ideal.
I encountered many problems throughout the process of production and delivery of my first project. One of the main things that helped me at the time was to remember that every input leads to an output, even if it's only an update. It was very important for me to maintain a high level of communication with my client so that although things weren't going to plan, they were well informed. It's much worse to pretend that everything is okay! I'll be honest, at the time each problem arose, I panicked. But in hindsight I've realised that I found a solution to each problem, be it as simple as asking for regular updates from the suppliers, or working out a way to get a sample for photography even though I couldn't deliver the full order by the delivery date. Sometimes the solution is not tangible, not what you expected, or not your 'ideal’, But try to remember that action you take will lead to an outcome and that is one step you are moving closer towards completion.
4. Don't sell your business or yourself short, some things only you will notice.
I can be a perfectionist, but at times this can really hold me back. I'm never quite satisfied and I tend to find a fault with most of my work. Because of this I assumed everyone else would. My advice here would be to take your time and exhaust your options before making business decisions. You can work towards producing a quality product or service but perfection is unachievable. But don't be disappointed, this just means that your best is good enough!
5. Remember to have a work-life balance.
I currently have a full time job, which means I cannot dedicate all working hours towards my business. Throughout my first project I did however, wake up, at 4am every morning to complete tasks for my business, go to work from 12-8 whilst using my lunch breaks to work on my business, then go home and… you guessed it! I worked on my business from 9-12 (sometimes longer). Sounds crazy looking back, but it's easy to fall into the trap of overworking. The truth is I couldn't sustain this pattern for more than a week, I couldn't physically handle it, or mentally for that fact and you probably won't be able to either. Now realistically there will be occasions where you have to do a bit of overtime, but don't let that become a habit. Don’t let work take over your life, have a balance. Set dedicated times out in the day to complete your tasks and once the time is up, move on!