What I’ve Learned in Business so Far
It’s almost been 15 years. What have I learned? What would I do differently, and what wouldn’t I do again?
I’ve learned that communication takes knowledge. It’s not a skill set you're born with; it’s something you need to learn and the more you have those “fierce” conversations, the less fearful they become. Finding a business coach and reading every book recommended to me was a game-changer for my team and me.
Organizing your thoughts and planning out the strategies before implementing them will be more successful than winging them. If you are like me and a million ideas shoot through your mind, have someone on your team that listens and helps to make sure you see the bigger picture. This is my favourite; I love the looks I get from my team when thinking or doing something not aligned with our goals. It's not an eye roll but like a half-eye roll!!! Love you guys!!!
I know people say plan for the future- this couldn’t be more true. Don’t plan small and think small. Plan big and think about how this will impact my business 10 to 20 years from now. Don't get consumed in what's NOT working; this will eat at you until you are breathless. Ask yourself, how can you grow your brand? What other markets could you see your brand strive in? For me, I've always loved cosmetics, particularly perfumes. I'd love to expand the Heiress Brand in that direction.
Learn how to read and evaluate your success. Measure your growth-The only way to do this is by understanding numbers. Get help if you don’t like numbers. Accountants are essential, but for day-to-day questions- that’s expensive, and they talk way over your head anyway. Find a mentor that will break it down for you. Understand your balance sheet and profit and loss; check your numbers daily, weekly, and monthly. Do this right away, not 7 years in!!! LOL
What wouldn’t I do again….this is somewhat ironic. I would say get out of the day-to-day business routine. You can’t grow your business if you work in it 9 hours a day doing the daily routine. I didn't recognize this until recently. To succeed, new ideas and creativity need to happen, but the critical factor is giving yourself time. I also believe, stepping away from social media accounts made me feel like there is no more room for another entrepreneur. It's just not true, they may have made it to the finish line before you, but there's always room for you!! You will cross your finish line when you get there; it's your journey.
Remember the bigger picture; being present is critical, meaning you show up and do what you don't want to do; this means getting uncomfortable. I couldn't explain it any better than saying this, “if you fear your tasks tomorrow, you're on the right track.”
You can’t be afraid to step away from your comfort zone and make the changes the business needs to survive 10-200 more years.