1 Year of WOW: Lessons from My Entrepreneurial Journey

Wow! One year into starting my own business, and little did I know that the journey I embarked on last May would be as thrilling and challenging as it has been. Initially, being let go from my former employer of 17.5 years was one of the toughest things to accept. Yet, it turned out to be one of the best things that ever happened to me.

Reflecting on this past year, I’ve realized that the experiences and lessons learned are too valuable to keep to myself. Working with clients across five different countries and over ten brands in various industries, I've had the privilege of collaborating with some of the most brilliant individuals who taught me tremendous lessons along the way.

My business, Wow Wong, has allowed me to serve as a Global Business Advisor, Executive Business Coach, and Sales & Marketing Strategist. Through these roles, I’ve helped build partner programs, channel marketing programs, website content, executive coaching, performance coaching, event production, digital marketing strategy, content marketing, and much more. I am blessed to have a great network that allowed me to work for people I want to see win.

As I look back on the past year, there are five key lessons that stand out. These lessons have not only shaped my business but have also influenced my personal growth.

Here are the top five lessons I’ve learned during my first year running Wow Wong:

Lesson 1: Building a Strong Foundation – Know Your Why, Plan, and Align

Building a plan, setting goals, and knowing your "why" is key. It's essential to ensure your work aligns with your values. Setting goals and having a detailed plan provide the roadmap you need to make your business work.

Luckily for me, I’m a planner by nature. Since I was already familiar with coaching others to build a plan, I had a template to work off of. Early on, I did some traveling to find inspirational environments that allowed me to build this core base for my company. Most of my foundation was actually ideated during a trip to Australia to visit my good friend Gabriel L. , who had already started his own business and was thriving. Learning how he did it, how he spends his day to day and being surrounded by the beauty of the Gold Coast accelerated the creation of my plans.

Don’t skip the planning phase: Create a comprehensive business plan, write down your company values, and define your mission statement. Designing your brand to align with these values will give you a strong foundation to build upon. Many entrepreneurs jump right in, skipping this critical part. While it can sometimes work, when challenges arise and difficult decisions need to be made, the foundation you set will be crucial in helping you navigate through these tough times. You can't get to where you want to go if you don’t have a map. Establishing a solid foundation will guide you and keep you grounded, ensuring that your business stays true to its core values and mission.

Lesson 2: Your Network is Everything – The Power of Connections

Your network is everything. This past year has shown me the immense value of having a strong network. Tapping into your network, being open to meeting with anyone with intention, and consistently reaching out can make all the difference in your entrepreneurial journey. Every connection has the potential to offer unexpected opportunities and insights, and you never know how you can help each other.

I'm incredibly grateful to the mentors and peers who came out of the woodwork to help me with templates, introductions, opportunities, recommendations, guidance, and just extremely helpful conversations. Sometimes, people would see a post on LinkedIn and reach out, offering their help. Others attended my launch event and expressed a desire to collaborate or work together. By being open to these interactions and consistently networking, I was able to build a robust support system.

Many of the people I met with might not have had projects for me to work on, but they still took the time to guide me, and for that, I will be forever grateful. These interactions often led to new ideas and directions that I hadn't considered. The key is to be open to meeting with anyone because you never know where the next great opportunity might come from.

I was fortunate to have mentors like Philip Antoniadis , Ray Garnie , Michael Lin and Jonathan Skinner who provided me with invaluable advice on possible avenues to explore. Great friends like Sam Ziadeh , Tobias Zatti, and Johnny Kim were constantly offering input, feedback, and ideas on how to progress to the next steps.

Support from contacts in my network, such as Ben Desjardins , Marc No?t , and Apurva K Mody , was crucial in providing great opportunities to get me started. Additionally, those already successfully doing what I was embarking on offered critical guidance, shared templates, and gave excellent advice overall. I wouldn’t have been able to overcome many challenging obstacles without the help of Kathryn Sebuck, CDMP , Greg Jorgensen , Lauren Price and Leanne Melody .

I'm sure I've missed many more, but the point is clear: your network is essential if you’re looking to build your own business. They provide a sense of connection and a support foundation, which is truly needed when running your own business.

In the end, your network is your lifeline. It offers not just potential business opportunities, but also emotional support, guidance, and new perspectives. Cultivating and maintaining these relationships can pave the way for success in ways you might never have anticipated. Your network is not just a part of your business; it is the backbone that supports your growth and resilience.

Lesson 3: Embrace Evolution and Define Your Niche

Don’t be afraid to try new things and redefine your brand as you evolve. When I first started, I casted a wide net, offering a range of services from sales and marketing consulting to event production, executive coaching, breathwork facilitation, content marketing, brand building, and business development. However, this broad approach confused people, making it difficult for them to understand my core offerings and recommend me effectively.

It was great for those who knew me well because they trusted I could handle it all. But I often faced the dreaded question: "What exactly do you do?" This made me realize the importance of having clear, focused offerings. Defining exactly how you can help organizations and addressing specific pain points is crucial. By focusing on niche areas, you can better solve customer problems, making your services more valuable and your expertise more apparent.

I’ve transitioned from general marketing consulting to digital marketing professional services, and now to very specific roles in brand transformation and channel/partner program enablement. This focus has allowed me to be more targeted in how I can help others and has made it easier for those in my network to recommend my services. When you can clearly articulate the specific pain points you address, it not only makes your marketing efforts more effective but also builds stronger, more trusting relationships with your clients.

The plus side is, once you are engaged with a client, you can discuss other needs you can satisfy. Leading with "I can do everything" means nothing. As the saying goes, "If you serve everyone, then you serve no one." Building on your skill set through continuous training and education is also crucial. Keeping up with evolving market dynamics ensures you remain relevant and can offer the best solutions to your clients' needs.

This process is still a work in progress, but I've seen how beneficial it is to have clear, focused offerings. It helps others understand exactly what you do and makes it easier for them to recommend you. By niching down and focusing on your strengths, you can build a stronger brand and a more sustainable business.

Lesson 4: Prioritize Balance and Mental Health

Balance. "Take care of yourself; you can't pour from an empty cup." There are numerous benefits to being your own boss, but it requires discipline, organization, and managing your own schedule. Mental health, particularly for entrepreneurs, is crucial. Statistics show that those running their own business are more prone to high stress, depression, and anxiety, which can lead to burnout. According to a study by the National Institute of Mental Health, entrepreneurs are 50% more likely to report having a mental health condition, with depression and anxiety being the most common. As the old adage goes, you have to put your own seatbelt on first before you can help others.

Establishing strong routines, good daily habits, and prioritizing your personal, emotional, and physical health is a must. There’s no one to cover for you when you run your own business, and while you technically have unlimited sick time, you’re your own manager, HR, and payroll all in one. This impacts your bottom line when you’re not able to perform at an optimal level. Running your own business comes with difficult times, and when you’re first starting out and on your own, those challenging moments can be magnified. Your own thoughts can reverberate in your head, compounding the stress.

It's essential to find others you can connect with to talk through these challenges, as well as solid contacts you can reach out to for quality conversations when you need someone to bounce ideas off or gain a different perspective. This ties into lesson number three because your network can provide a good sense of external support, so you don’t feel like you have to know everything or do everything just because you run your own business. Identifying mentors, coaches, peers, and good friends that you can regularly reach out to is critical to help keep you grounded.

As an entrepreneur, you must remember to have fun along the way and enjoy the work you do. If you’ve chosen this path, there must be a driving force that makes you feel this is a better option than the alternative. It’s important to remind yourself of the why behind your decision to run your own business. Day-to-day tasks can become mundane, and the early times when you are just getting started can bring unforeseen challenges, but it’s crucial to keep the why behind your mission statement to stay motivated.

Tips for Maintaining Balance:

1. Establish a Routine: Set a daily schedule that includes time for work, exercise, and relaxation.
2. Take Breaks: Allow yourself regular breaks to recharge.
3. Stay Connected: Maintain regular check-ins with your support network.
4. Seek Professional Help: Don’t hesitate to consult a mental health professional if needed.
5. Stay Educated: Keep up with industry trends and continuously build on your skill set through training and education.

Maintaining balance is essential not only for your personal well-being but also for the success of your business. By prioritizing your mental health and staying connected with your support network, you can navigate the challenges of entrepreneurship more effectively.

Lesson 5: Leveraging AI and Modern Tools to Maximize Productivity

Utilizing AI along with modern tools and apps can significantly enhance productivity and efficiency. We live in an era that has transformed entrepreneurship, with advanced technology, a wealth of shared knowledge, and a thriving side gig culture. These factors have created an environment that is highly conducive to running your own business today. Reflecting on my journey, I realize that the advancements in AI and other tools have played a crucial role in my success. These technologies enable entrepreneurs to accomplish much more in a shorter amount of time when used effectively.

While the adoption of AI can be a topic of debate, I recommend using it as a supportive tool rather than relying on it exclusively. Think of AI as an assistant or intern—helpful for getting things started, conducting preliminary research, and generating ideas. However, it is essential to remain the subject matter expert and gatekeeper of the information you receive. Validation and critical thinking are necessary to ensure the accuracy and relevance of AI-generated content. AI can greatly assist with initial drafts, proofreading, and brainstorming, making the process more efficient and less isolating. Additionally, AI can quickly generate images, videos, and designs, saving valuable time when applied correctly.

In addition to the adoption of AI, there are numerous tools available today that make entrepreneurship more manageable and effective. Here are some categories and tools to consider:

Business Tools:

1. Google Suite: A collection of productivity tools including Gmail, Google Docs, Sheets, and Drive, which are essential for day-to-day business operations.
2. Office 365: Similar to Google Suite, it includes tools like Word, Excel, and OneDrive for business productivity.
3. WordPress: A popular content management system for building and managing websites.

Design and Marketing:

1. Canva: A graphic design tool that makes it easy to create professional-looking designs for marketing materials.
2. Buffer: A social media management tool that helps you schedule and publish posts across various social media platforms.
3. Mailchimp: An email marketing service that allows you to create and manage email campaigns.

Project Management and Organization:

1. Trello: A visual project management tool that helps you organize tasks and projects using boards, lists, and cards.
2. Calendly: An automated scheduling tool that makes it easy to book meetings without the back-and-forth emails.

Freelancing and Outsourcing:

1. Upwork: A platform that connects businesses with freelancers for various projects.
2. Fiverr: Another freelancing platform where you can hire professionals for specific tasks at competitive rates.

Leveraging these tools and embracing the capabilities of AI can help streamline your processes, enhance productivity, and allow you to focus on growing your business. By staying current with technology and continuously improving your skill set, you can keep up with the evolving market dynamics and ensure your business remains competitive and efficient.

Conclusion

Reflecting on the past year, it's incredible to see how much has changed and how much I've grown. Starting Wow Wong has been one of the most challenging yet rewarding experiences of my life. From building a strong foundation to leveraging the power of a supportive network, embracing balance, and utilizing the latest technologies, each lesson has been crucial in shaping my journey.

The overarching theme of these key lessons is the importance of adaptability, focus, and support. Whether you're just starting or looking to evolve your business, these principles can guide you through the ups and downs of entrepreneurship. Remember, every challenge is an opportunity to learn and grow.

As you embark on your own entrepreneurial journey, stay true to your mission, continuously build on your skills, and never underestimate the power of your network. It's not just about achieving success but also about enjoying the process and finding fulfillment in the work you do.

If you’re considering starting your own business or need guidance, please don't hesitate to reach out. Whether it's sharing insights from my own experiences or discussing how my business offerings can support your goals, I'm here to help.

"The people who are crazy enough to think they can change the world are the ones who do." - Steve Jobs