I remembered when I first started in my business I was so excited, full of energy inspired and raring to go. I thought I was going to go live, I was going to have this influx of clients and people would LOVE me. Why didn’t anyone tell me the truth about those first few months. The most crucial months!
We’re going to talk about all the things a lot of people DON’T tend to discuss about staring out and being in business.
I wasted so much time at the beginning of my business on things I didn’t need, worrying about what everyone else was doing or spending money on things I didn’t need!
Let’s face it, it takes courage to make the decision to start your own business, but that wasn’t the hard part. The hard part is managing the stuff no one really talks about. Having your own business is often glamourised but the truth is you will work harder than you’ve ever worked in any other job. The payoff if done right is amazing but let’s talk about some of the home truths you may be facing in your business.
1.Clarity is key
I cannot tell you how much time I wasted because I didn’t have this upfront. I wish I had really mapped out my ideal working day along with my ideal client to understand my business model and my niche. I spent the first 12mths of my business flapping about, burnt out, tied to my desk and ended up resenting the work I was doing. It was not aligned with my head or my heart. Having clarity is knowledge. Knowledge is power. It’s important you have this clarity BEFORE you start your business. It gives you focus and vision for your goals.
2. Know when to cut your losses
Holding onto something, just because you paid money is the biggest drain of your time and energy. I was offline for 18mths but instead of cutting my loses with my web developer, because I’d paid him money I wanted him to fulfil the job. It meant I was offline for longer and cost me my time and energy but in reality, it cost me more in money as I wasn’t visible online. Know when to walk away from something that is no longer working for you or your business.
3.It is lonely
Oh my gosh!!! No one told me about this! My business is very much online and my partner works away through the week. Being locked away in my office for 12 hrs a day 6 days a week and talking to my clients over Skype, human interaction can be a limited thing so being in business can be lonely business. It’s important that you don’t isolate yourself and get out the house, even if it’s just to work from the coffee shop down the road. Make the effort to connect with others face to face as often as you can. You can work 12 hours a day but make sure you come up for air and make the time at least once a week to connect with someone who makes you feel good. Find a group of likeminded individuals as well who can help to support, encourage and motivate you when times are challenging. I have a membership called Financially Fierce Females Legacy Lounge that can help you with that. Click here to find out more.
4. You won’t make money right away
Anyone else getting a little tired of these bullshit promises telling you you can make £10K in your first 90 days? Whilst I’m not saying you can’t make $10K in your first 90 days… the reality is it usually takes most businesses 18-24mths to see a profit. There are many reasons for this, a big part of which is mindset, but the reality is it’s no one else's race to run. Be realistic with your monetary expectations and focus on your business and what you’re doing. Set financial goals and work your numbers back. For example if you 3 month goal is £20K dial down how many products or service packages you have to sell to meet that number. Be realistic with your expectations but don’t aim too low either.
5. Keep your eye on YOUR prize
I tell you, comparisonitis is a real thing!!!! When I first started out, I was so distracted by what everyone else what doing that I could hardly get through day without feeling like I wasn’t enough good, I wasn’t doing enough, I didn’t know enough! After chatting with one of my business friends I realised that ‘in my head talk’ was preventing me really moving forward in my business and I had to have a strong word with myself. Looking around at everyone else’s ‘apparent’ prizes are the best way to make yourself feel pretty crap. And yes I say apparent because I now know what people project as the truth on social media is not always the truth. Write your goals down somewhere you can see them, unsubscribe from your competitors emails, stay away from their social media pages, and recentre yourself by reminding yourself of your big prize. Never focus too much on someone else that you lose sight of yourself.
So do you have any tips and tricks you can share with us regarding today’s topic, if so comment below. Feel to share this blog on your social media or if you know of a friend who may benefit from hearing the things we talk about please share with them.
If you're ready to maximise your cashflow and profits, power up your sales and really start achieving your desired financial results find out here how I can help to support you and your business.