4 min read
It's been little over a year since I launched my small business, though the process started long before this. Here are eight valuable lessons I've learned along the way, that help me in both life and business.
1. ‘Paper Towel Theory’
Stay with me here. If you remove one paper towel, the roll looks unchanged. But, over time, as you keep removing a paper towel one by one, the roll starts to become noticeably thinner, then empty. In other words, every small action eventually builds up to your goal.
Running your own business can feel a lot like this. When you’re in the thick of it, the endless hours of work doesn’t seem to be yielding the big results. Suddenly (or so it feels), you’ll see how chipping away at those small daily tasks built up and led to a success that you see now.
Just like the paper towel, every little action adds up. Time will always pass, so you may as well do a positive action in your business even if it seems so incredibly small and inconsequential – because if you keep persevering and hold on a little longer you’ll see the perks.
2. Keep reminding yourself of your ‘why’
When it feels like the odds are stacked against you, remembering the reason why you started will put it all into perspective.
Losing my grandparents made me realise how easily family stories vanish. The little quirks, traditions unique to just our family, inside jokes and the mispronounced words that somehow became something we all started saying. You can’t ‘Google’ your own family stories. Once the people are gone; their stories are gone with them too. I don’t want anyone else to feel that same regret.
I remind myself of this daily.
Your ‘why’ is the beating heart of your business, give it the recognition it deserves.
3. Support other small businesses
Collaboration over competition. All day. Every day.
When small business owners support each other, it builds a network of shared success – it’s how each of us can grow from the ground up and stand against the larger companies that are creating a monopoly.
When creative people start micro businesses, we get unique products, stories and personal services that you just won’t see from larger chains.
Positive feedback I’ve received from customers is that they love the content and questions from my journals. I wrote each and every question and structured the contents - from personal experience and extensive research. The passion, personal experience and heart of my journals comes through to customers which has been the biggest highlight for me.
I’ve become so much more mindful of how I spend my money and choosing to shop small matters now more than ever. Knowing a person with passion and personal experience created something beautiful – is something I can always get behind. It’s also a great way to spread some joy. I know just how much effort goes into starting a small business and how much that person will be genuinely ecstatic when they get a new customer (the happy dance is real).
So support each other, help distribute the wealth and celebrate the creative uniqueness of other small businesses.
4. Celebrate your wins.
Every single freakin’ one. Because as an entrepreneur you’ve worked too hard and put a lot of love into this, just to let the magical wins slip by.
Something crazy happened when I started meeting my goals - I just moved on and kept creating new aspirations. Achieving my goals didn’t feel like winning as I kept raising the bar. I started to feel mediocre as I was no longer anywhere near where I wanted to be (even though newbie me would have been over the moon with how far I’d come).
Don’t get me wrong, having goals and striving for more is vital. Just don’t forget to pause in the moment and write down your achievements. Whether it’s your first customer, developing a new product or having repeat customers (I see you repeat customers :) , this one always makes me so incredibly happy) – celebrate each and every win. Say it out loud. Write it down. Realise that you achieved something that you hoped for but didn’t know if it would become a reality.
Be proud of exactly where you are and practice gratitude. It’ll make you feel good and give you the ‘oomph’ for your next phase.
5. Time Block
There’s always going to be other stuff to do. Whether it’s your day job if your micro business is your side hustle, chores, family, friends … or whatever it maybe. Life has a way of pulling you in different directions.
Time blocking allows you to see the time you have, distribute the to-do list accordingly and allows you to focus on one thing at a time. It’ll also mean you’re not giving yourself an unrealistic amount of work and on the opposite end of the scale – help you avoid procrastination.
6. Remind yourself how temporary things are
As the Greek philosopher Heraclitus said; ‘the only constant is change’.
The good, the bad and the mundane - nothing is constant. Something may look a certain way now but it’s good to remember that this chapter or moment won’t last forever. I’ve found this to be crucial for both personal and professional growth. Simply knowing that everything is temporary allows me to adapt my plans to the current situation, safety net for the future and maximise the current moment.
7. You’ll talk to yourself … a lot
‘If you see me talking to myself, just ignore me, I’m having a staff meeting’. If you run a small business by yourself - you’ll know the feeling. Suddenly you realise how often you have meetings with yourself; because often there just isn’t a person around to bounce ideas off of. And besides, talking to yourself is a sign of intelligence, right?
8. Patience is a virtue
It takes patience (a lot of it) as a small business owner … and a good sense of humour.
So those are some my biggest takeaways from my first year in business.
I’d love to know - whether it’s a small business, hobby or new venture - what’s one lesson you’ve learnt from starting something new? Leave a comment below and share your wisdom with our lovely community …