The three tips I wish I had known when I started my business

October 20, 2018 0 Comments

The three tips I wish I had known when I started my business

The three tips I wish I had known when I started my business...

After a recent Instagram post- screenshot here. I decided to post a little more about what it’s like having your own business.

I decided to take voluntary redundancy from my job in advertising in January this year because - firstly- I was exhausted, working 19 hour days and then being expected to entertain clients and drink my weight in gin.

Secondly - I felt exhausted by the politics, the razzmatazz, the selling, the below average briefs, and presenting work to clients that they didn’t particularly like, and often neither did we.

Thirdly - I always felt I wanted my own business, independence and a life that I could make my own..

So yeah, I took voluntary redundancy and that’s when the fun, and real stress started.

I don’t know if I was one of those employees who was hard to rattle, but I rarely felt stressed at work. But having your own business, worrying about money, and how to spend your day was unlike everything I’ve experienced.

So 1. Expect and embrace the stress

There’s no such thing as working hours when you own your own business.  You go through phases when days just aren’t long enough. You work in bed, you email on the loo, the thought of going to the gym just seems a nice to have- days go too fast, and you have too much to do.

Now- I would love to say that this doesn’t last forever, but I’m not quite at this phase yet. I’ve got so much I need to do, so so little time.

2. Anyone will want to work with you; if you pay them.

So much of your time will be wasted listening to people wanting to work with you, quoting budgets you could barely even scrape together after months of working. They will promise the world: few will be true to their word.  I've been conned. I've been blackmailed. I've had aggression.  I've had relentless cold calling.  Suddenly when you open a business you are a hot commodity.  My advice.  Be wary.  

3.  Even thinking about your cash flow will make you feel sick

I bet you never looked at this when you worked for a company. I had never considered how long some people took to pay you, or how much you would need to chase to get invoices paid. It’s seriously hard work. Small businesses can live and die on money coming in and out of their account. Having to juggle money coming out of your account, paying out for big orders etc, is a full time job.  And don't even get me started on then having to chase people to pay you...!!

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