Lessons I’ve Learned After One Year of Business Ownership

I can’t believe it’s been a year since I started Organized Piggy! What was only a dream a couple years ago has transformed into a growing business. I’d like to share what I’ve learned and done in the past year with other current or aspiring entrepreneurs.

No Doesn’t Always Mean No. When you’re starting out, it’s exciting to get that phone call from a potential client. You need the business. You want the business. You don’t always get the business…at first. And that’s the key thing to remember. On more than one occasion, I consulted with a potential client over the phone and the moment they found out what my rates were, the hesitation set in. You’re always going to encounter people who think you charge too much. My rate was the dealbreaker. Instead of thanking them for their time and ending the dialogue, I offered creative alternative solutions that better fit their budget without me lowering my rates. Usually, there was no response. Not even a “No, thank you.” Months later, however, those same potential clients wanted to re-open the dialogue. What happened? They hired someone on the cheap and they got what they paid for. Now they needed someone to fix the mess. If someone says “No” to you, don’t respond with finality. It might turn into a “Yes” when you least expect it. Leaving things on a positive note instead of shutting it down keeps that window of opportunity open.

Network on Your Own Terms. When I first started, I went to every networking event I possibly could. I needed to meet people, start forging relationships, and get my name out there. My experiences yielded mixed results. I did make a handful of valuable connections (and friends), don’t get me wrong. But, the ratio of quality connections to superficial connections was extremely low. Last year, I read a book called “Stand Out Networking: A Simple and Authentic Way to Meet People on Your Own Terms” by Dorie Clark. It’s a quick, informative, and relevant read. One of the things Clark suggested was this: If you’re out there trying different networking groups and you’re not finding one that resonates with you, start your own. And I did. The inaugural meeting is next week and I’m looking forward to connecting with people just like me. If you don’t want to start your own group, make sure the groups you’re participating in resonate with YOU.

Don’t Monetize Everything. Some time ago, a foundation reached out to me, asking if they could interview me for a video, talking about my entrepreneurial journey and giving some nuggets of advice; the aim was to inform and inspire other entrepreneurs. I was delighted and flattered. My business is all about helping other businesses so this was right up my alley. If there was any way I could help out other small business owners, I was all over it. I subsequently found out, though, that a monetary contribution to the foundation would be required. Wasn’t telling my story contribution enough? This made me question their motives. Do they really want to help entrepreneurs out or do they just want to make money and appear as if they’re helping entrepreneurs out? Does everything HAVE to be monetized? Personally, I don’t believe so. Be careful what you do monetize. It might make you look greedy.

Be Mindful. I wrote a whole article covering this topic (click HERE for it), but it’s worth briefly mentioning again. When you truly care about people, it shows. Remember who’s in your network; people like being remembered. Give your network, clients included, something valuable; this shows that you understand their needs and you’re trying to help as best you can. Read e-mails thoroughly; this shows that the sender’s message is important enough to be read from beginning to end. This also avoids the awkward situation of you replying with a question that was answered in the original e-mail. This mindfulness will boost your network’s and client’s confidence in you and generate goodwill.

Be Yourself. Always be authentic. People can see through fakery better than you might think and they don’t always let on that they do. Clients choose to buy your product or service because of YOU. There’s probably other alternatives out there, maybe even cheaper alternatives. But, clients don’t care because they LIKE you. You need more than a solid product or service to have a successful company. Your company needs you to be you.

There’s dozens of other things I could list, but in my opinion, these five things are crucial if you want your business to flourish.