I quit my day job back in 2011 (woah, almost 4 years!), and even though I’d run a small business alongside a day job for a few years before then, there’s still a load of stuff I wish I’d known before going properly into ‘business’ with no day job buffer.
It Gets Easier
The first year is really tough. It’s an insane learning curve, with so many new things to tackle. Cash flow generally isn’t great during the first 18 months, and being the only one who calls the shots is stressful. Everything feels really awkward, and imposter syndrome is at an all time high. About 4 months in you start to question whether going into business was a good idea. Don’t worry, it gets easier. Everything starts to even out. Those tough new things become second nature. If you’re running your business right, cash flow is no longer a problem. Imposter syndrome? yeah, you’ll still feel that.
If you want to succeed, you will succeed
This isn’t about luck. And it’s not about some bullshit magical-unicorn-poop ritual of thanking the Universe. If you want to succeed, you will succeed. But you’ll need to put in the hours. You’ll need work your ass off, knuckle down, and really mean business. You’ll get back what you put in, you cannot coast through this and expect great things to happen.
You don’t have to do it all
Delegation is the key to business growth. I’m still working on this one, and for me it’s more about figuring out exactly what I can delegate. However, as I’ve said numerous times before, one of the greatest things I ever did was get an accountant to handle my tax return. I wish I’d invested sooner!
You will fuck up, but that’s okay
Things go wrong. It’s inevitable. It’s all in how you handle it. Between sending out wrong items of jewellery, and not managing to meet an important deadline, I’ve fucked up. Just stay calm, figure out how to fix it, and admit what went wrong.
Don’t burn out
There have been times during my business where I’ve worked all weekend, and late into the night, tiring myself out and killing any kind of creativity and productivity I have. I don’t condone this behaviour. It’s shitty. Get better at time management, take time off, don’t burn out.