There are so many things I’ve learnt from running The Learning Quest (TLQ) for the last 20 years that I wanted to share some of this learning with you. First and foremost is that you will have to take risks and most definitely you will need to get used to coming out of your comfort zone.
Throughout my business life I’ve always had an internal mantra of ‘nothing ventured…nothing gained’. It’s kept me in good stead when I have had to make decisions that weren’t that comfortable or I was doing something I wasn’t used to.
Running your own business doesn’t have to be a lonely journey if you don’t want it to be. There are plenty of people out in your community to help and support you. It’s just a case of being open to seeking help and choosing carefully where you network. When I first started in business I was desperately keen to participate in all sorts of different networks, most of which were not right for my business. In the first instance, be crystal clear about the purpose of your networking. Is it to make new contacts; seek collaborations; gain support or generate new sales? My initial networking didn’t generate any of these and I felt deflated and that I’d wasted a lot of time out of the office.
I noted early on that if you sit back and do nothing then nothing will happen. Just having your business in a directory and having a website, people won’t automatically be ringing the phone. Especially now that many businesses will have umpteen competitors selling the very same thing as you are.
Make sure that you know the businesses USP as this will help you differentiate your services/products from your competitors. Make sure that you are passionate about what you do as this will shine through to your clients.
It is OK to have good and bad days. When my Mum passed away ten years ago I retreated into myself and consequently I didn’t do much as I was grieving. It took me a few weeks to regain my focus and get back on track. I was fortunate to have a great support network of friends and business colleagues who were able to assist. This was also true a few years ago when I was getting treatment for breast cancer.
Ensure you set yourself realistic; achievable goals for your business. Don’t go too crazy as you will be overwhelmed and become despondent. Remember, it takes time and effort to create a new brand and reputation and generate leads and sales from a blank canvas.
Don’t forget to harness new technology that is out there and relates to the business you are in. It is also vital that you keep on learning new skills. This has been so evident since the Covid 19 pandemic happened and has changed the way we work. How you might have marketed your business twenty years ago may be completely different to how you do it today.
Lastly, if you are running a small business you are probably in charge of many different facets like marketing; sales; finance; operations etc so it’s critical that you make maximum use of your time. Be fiercely protective of your time and ensure you are efficient with it.
Finally do try and ensure that you maintain a healthy work/life balance.
In summary
- Be prepared to get out of your comfort zone
- Take calculated risks
- Know why you are networking
- Seek support as and when it’s necessary
- Harness new technology and keep on learning new skills
- Know the USP of your business
- Be passionate about what you do
- Be protective of your time
- Keep a healthy work/life balance
Running a business is fun, challenging and exciting, it is also very rewarding and satisfying! Before you take the leap – take time out to learn from others who have been there before you!