Starting a small business is like stepping onto a rollercoaster with no clear map of the twists and turns ahead. As someone who took the plunge at just 16 years of age, and has built two seven-figure businesses, here are the key lessons I’ve learned over the past 20-something years.
1. Customer service is everything: If there’s one thing I’ve learned, it’s that outstanding customer service isn’t just a part of the business; it is the business. It’s about more than just being friendly and helpful; it’s about creating a seamless, frictionless journey for your customer. Every step, from the initial contact to the final transaction, should be smooth and effortless. Every interaction is a chance to showcase your business’s values and mission, and turn your customers into raving fans.
2. Embrace the seasons of business and life: Running a small business often means wearing multiple hats and sometimes having a superhuman workload. It’s crucial to recognise that there are seasons in business, times when you need to hustle hard and times when you can ease off the gas a little. Maintaining a balance is essential. Work hard, but don’t let your personal life fall by the wayside. Your business is important, but so is your wellbeing.
3. Surround yourself with like-minded individuals: I have an amazing close circle of friends. I often get great advice from certain parts of my life from them…but…they’re not business owners, who never really got my business problems! When I expanded my horizons and joined some business mentoring and networking groups my business went to another level! I had a whole new network of people who understood my challenges and shared my passion and challenged me along the way.
4. Get friendly with your finances: Initially, I underestimated how crucial it is to really get your head around the numbers. You can’t possibly gauge your growth if you’re not up close and personal with your financials. Make it a habit to dive into those statements, make ‘Financial Fridays’ a part of your week. Trust me, once you start understanding what those numbers are telling you, you’re equipped to make smarter choices. It’s like having a roadmap to profitability.
5. Your team is your powerhouse: Here’s the deal, your team isn’t just a part of your business, they are your business. Investing in their growth is non-negotiable. I’ve learned that when you truly value their ideas and create an environment where they feel like they’re a critical part of the journey, magic happens. It’s not just about having skilled people; it’s about nurturing a vibe where innovation, commitment, and joy in what they do comes naturally. A team that’s buzzing with positivity and passion? That’s your real secret weapon for success.
Bonus insights
- Hard work is the shortcut: There are no magic formulas for instant success: its all about Hard work, dedication, and consistency. Embrace the grind and stay committed to your vision.
- Celebrate your wins It’s easy to get caught up in the pursuit of the next big goal. However, take time to celebrate your victories, no matter how small. These moments of acknowledgment fuel your motivation and remind you of how far you’ve come.
- Dream big and aim high: What could you achieve if failure wasn’t an option? Let that guide your business journey.
Starting a small business is a learning curve, and it’s okay not to have all the answers from day one. What matters is your willingness to learn, adapt, and grow.
Embrace the journey!
