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Four Entrepreneurs Share Their Biggest Lesson in Business
I asked four entrepreneurs what their biggest lesson has been since starting their businesses. Here’s what they said.
Some of the best advice I’ve received has come not from business textbooks but from individuals or entrepreneurs who have experience under their belts. If you can learn from someone else’s journey, why not? I’ve asked a few entrepreneurs I know and respect for what is one lesson they’ve learned in business. Here’s what they said.
“Know your biggest strengths and weaknesses. Find someone whose strength is your weakness and ask them for help and guidance. For me, Strength: Visionary leadership and Weakness: Financial controls.
So I make a good CEO, but only if I have a good CFO.”
“I think the biggest lesson I’ve learned has been to be more kind and understanding to myself and my abilities. To listen to my body and know that I’m doing all I can.
This helps me stay positive. Meditating daily twice a day and slowly digesting my thoughts. It may not always be the most productive, but if I’m not ok, everything stops. ”
“My biggest lesson in starting my own business is to come in with clear intention, to be very focused on my goal on helping individuals, families, & businesses with my highest ability, for their highest good. I take each client in as if they were someone in my family. I concentrate on staying focused, no multitasking, and get it done with respect, love, & understanding. ”
“Aside from the obvious - understanding what your services are, pricing them correctly, and having a robust client roadmap with clear understanding of deadlines and deliverables on both sides - I’d say the most important thing I’ve learned is that business takes place outside of Instagram and even social media in general.
It’s crazy to say that in the 21st century, but it’s true. I believe I spent more time coming up with the perfect Instagram caption and grid pattern in my first year than I took making sure the few clients I was lucky enough to have in my first year on my own were taken care of.
Instagram and other social outlets are an awesome tool. But to build a business that has depth, meaning and a potential legacy? It has to live outside the digital realm. It has to have a functionality in the real world. It has to have a mission beyond gaining new followers and more eyeballs to your content.
Otherwise, you’re building a digital sandcastle. The bits and bytes of trends and new platforms will crash like a tidal wave over your kingdom. And I want to build something that has a deep purpose and meaning. That can withstand a trend. That can sustain.
In the next year of my business, I am going to work to make my digital presence as a business into the real world. Meaning, I won’t spend more time on Insta Stories than I do creating meaningful content that makes an impact. ”
My advice? Surround yourself with individuals in different industries and various seasons of life who can challenge you, encourage you, and maybe even help you to not make their same mistakes!
Cheers,
Emily
What To Do Before Starting A Business, According To A Business Manager
Thinking about starting your own business? It can be overwhelming to know what your first steps should be and who you should have on your team. If there is one person who has had the biggest impact on my business it’s my bookkeeper, Crystal. I’ve been lucky enough to have her on my team since day one and she has made a world of difference for both my sanity and the health of my business. Not only does she keep my books straight, she helps me make smart business decisions and acts as a general sounding board for me. Some people think they can’t afford a bookkeeper but, for me, I can’t afford not to!
Crystal is not your average bookkeeper. She’s a full-time Business Manager with many years of experience who really understands everything that goes into making a business successful. Naturally, I thought she’d be the perfect person to give some advice to those of you who are looking to start a new business. Here’s what she said:
“Take the time to set up your business properly. Start with a business plan that includes budget & cashflow projections for your 1st year through the next 3 years. Select a team of experts who can advise you on the various areas of your business – Attorney, CPA, Bookkeeper. Meet with each of them & show them your business plan.”
ATTORNEY
Talk to them about the type of entity your business should be and the cost to create that entity.
Do they have a recommendation for a bank & why?
CPA
Talk to them about how to pay yourself.
Do they know a reputable bookkeeper?
Ask what the estimated cost to prepare your annual tax return will be.
Do they have a recommendation for a bank & why?
BOOKKEEPER
Try to find someone with 5-10 years bookkeeping experience. Ask for references and take the time to check them.
What accounting software would they recommend & what are the associated costs?
What payroll company would they recommend & what are the associated costs?
How much will they charge to do your bookkeeping?
“Review your business plan periodically. It’s good to be reminded why you started your business & it allows you to make any necessary adjustments to your plan as your business evolves & grows.”
Congrats on taking the step to start your own business! Stay tuned for my next blog post on business advice from some of my favorite entrepreneurs.
Cheers,
Emily
My Mobile Office Essentials
When it comes to working remotely, it’s important to be efficient with your (often limited) space. After a couple of years working from coffee shops, co-working spaces, or even my couch, I have finally found the essentials I need to be productive and comfortable. Click on the titles to shop the items.
1. MacBook Air (& charger)
I don’t know about you, but I don’t want to lug around a massive Dell or (insert name of other laptops I don’t know the name of) computer. Not only are they heavy, they take up precious space. Although the MacBook Air doesn’t have an insert for CDS or DVDs, you can purchase an extension that will allow you to use those.
2. MOFT laptop stand
My MOFT (AKA Mobile Office For Travelers) is amazing. It easily attaches to the bottom of your laptop and is virtually invisible when not propped up. It also helps prevent the neck aches that can occur from looking down at a screen.
3. Wireless Apple Mouse
I used the credit from turning in my old iPhone through Apple’s buy back program to purchase this wireless mouse. It prevents my fingers from aching, especially while doing design work!
4. Mouse Pad
I love this mouse pad as it’s functional and stylish. One side is aluminum and the other side is a waterproof mat.
5. Mark & Graham Laptop Case
I received this monogrammed laptop sleeve as a Christmas gift this past year and I LOVE IT. It fits pretty much everything I need for a day of work.
6. External Hard Drive
Anyone else get notifications that your computer space is almost full? The WORST. I use the My Passport for Mac external hard drive and it has been amazing for freeing up storage on my device by storing files, pictures, etc I don’t need access to on a daily basis.
7. Moglea Notebook
Although most of my work is done digitally, I prefer to take notes in a journal for my initial client meetings. I’ve found that if the client can’t see what you’re doing on your screen they can feel like you’re looking at something else / are distracted. There’s also no substitution to a good brainstorm with pen and paper! I picked up this beautiful hand painted notebook from one my of favorite local shops Wanderful Boxes.
8. Blue Light Glasses
According to Amazon, these glasses “can relieve our eye fatigue especially when watching TV and looking at a computer”. Since they were only $16.99, I decided to give them a try. I’ll be honest, I forget to wear them most days but it’s a habit I want to create. I know people who swear by them!
Although I have found each of these items to be incredibly useful for me, everyone has to find what works for them. I’d love to hear YOUR favorite mobile office essentials — I’m always game to try new things!
Cheers,
Emily
What To Consider Before Working Remotely
So, you’re interested in working remotely. Many of us have given up the 9-5 life for the flexibility and freedom that comes with working remotely. That could mean working from your house, a local coffee shop, a co-working space, or even a hammock on a far away exotic island (#goals). Before permanently changing your work habits, it’s important to consider the pros and cons.
Potential Cons:
Spotty Wifi. This can especially be an issue if you are traveling to other parts of the world. Many places don’t have great wifi (or you have to purchase it) so make sure to do research before heading out the door.
Distractions. From crying babies to people watching, there’s generally more going on when you work out and about than at an office. If you’re working from home, the temptation could be to stay in your pajamas and work from bed, or to start working on household duties instead of being focused on your work.
Not having a designated meeting space. “Can I meet you at your office?” “Yep! I’ll meet you at the Starbucks down the road at the third table from the back.” While most people are fine meeting you out and about, this could be viewed as potentially unprofessional or inconvenient depending on your occupation and the nature of the meeting. Luckily, co-working spaces are growing in popularity and often offer meeting rooms for rent by the hour.
Isolation. Are you a big people person? Do you get your energy from collaborating and being around others? Then you might not enjoy working remotely on your own. I’d recommend joining a co-working space where you can interact and sometimes even collaborate with others in the shared office.
Potential Pros:
Increased Creativity. I believe that where you work has a big influence on how you work. For me, being in new environments each day increases my creativity and productivity.
Flexibility and Travel. Depending on the nature of your job, working from your laptop may allow you to work out of state or out of the country without having to take vacation time.
Reduced Expenses. If you are comparing working from home or a coffee shop to an office space, you can definitely save money on overhead costs like rent and utilities.
If you’re working from a coffee shop or some other similar establishment, mind your etiquette. Remember, you don’t own the place and there are others trying to enjoy their visit, too.
A few best practices:
Read the Room. Are there only two tables in the space? Is it more like a restaurant where you should eat and leave? Then it might not be best to set up shop and hog a table for half a day.
Purchase Something (more than a small drip coffee). While this isn’t a hard rule, I try to support the establishment by either purchasing food and a drink, or a higher-priced drink or two. I justify the pricey latté by knowing I’m not being stingy and taking up a chair for several hours without really paying, and I also view it as part of my “office rent” expense.
Be Seen and Not Heard. While it’s okay to take the occasional phone call, by all means, DO NOT have a FaceTime call where you’re using earbuds that prevent you from knowing how loud you’re talking… or shouting.
“Table for one, please.” Try to condense what you bring with you so as to not take up a large amount of space, especially if the establishment is busy. Blog post on this topic coming soon!
If you have considered the pros and cons and feel like it’s the right fit for you, go for it! I have been working remotely for almost two years now — everywhere from Scotland to Utah to my apartment — and I love it.
Cheers,
Emily