5 lessons from 5 years in business

Earlier this year, before all of our lives got shaken up by the COVID-19 pandemic, I was lucky enough to celebrate five years being in business. That’s right! My digital product agency Adapt, turned five back in February this year. 

I’m bursting with gratitude, pride and honour for our clients, the projects we have completed & most importantly those colleagues who I’ve had the pleasure of working with on this journey. Thank you! 

Lockdown has had a variety of effects on an even wider array of organisations & people. From the loss of jobs through to the loss of lives; it’s safe to say this will go down as one of the toughest times to be alive in modern history. Sure the struggles are different to those faced by generations passed, but they’re struggles nonetheless. 

For me, lockdown has had a number of effects. It has reignited that fire deep within me as an entrepreneur, to stare adversity in the face and push forward stronger than before with resilience fueling the fight. Part of the process of rediscovering that fire has been through reflection. This leads me to the subject of this article; 5 lessons learnt from 5 years in business. Without further ado, in no particular order - let’s get into them.

P.S If you’re in a rush, I’ve ended each topic with a “Key Takeaway” for efficiency. 

Trust shouldn’t be earned

Trust, I believe, is at the core of any strong relationship - whether professional or personal. The common statement I hear about trust is that it should be earned; like it’s some sort of reward. This is completely untrue in my opinion. Trust shouldn’t be treated or seen as the cherry on top or as a bonus to any relationship. It should be found at the core, at the foundation of the relationship. 

Now don’t get me wrong I’ve never struggled with trusting anybody I have worked with - eventually. The difficulty is that word “eventually”. Having shifted my approach with trust, from being something which is given eventually to something which is given by default, it has allowed me to effectively fast forward time. 

The months of time it would usually take to “build” that trust until it is felt & reciprocated by both parties is removed. Meaning we can get to the best bits earlier & avoid most of the challenges which come with a relationship lacking in mutual trust. 

Key takeaway: Don’t wait for someone to earn your trust; just give it to them. You’ll likely be blown away by what that does for your relationship. 

There’s no blueprint to follow

The entrepreneurial journey, as anyone who has gone it alone will likely (& hopefully) testify, is a lonely path. The very fact we describe it as a path, suggests there is an existing route for one to follow. Which if you want to live in a world of mediocrity, there is - there’s plenty in fact! Too many if anything. I speak to many entrepreneurial people who are employed, but attracted to the “freedom” (another contradictory word, for another article perhaps) which comes with being your own boss, but “can’t decide what to do”. 

Those of us with the entrepreneur's condition, more often than not, share a desire to carve our own path - to walk where others dare not go. We, myself included, naturally seek originality & uniqueness. We spot potential gaps in what others may see as an already competitive market, but we don’t see the competition - only the gap. 

When starting out on my journey as an entrepreneur & starting Adapt, I too saw a gap in a market. I saw how my skills as a programmer (& those of others, in time), could bring value to those who didn’t yet realise the potential impact software could have on their businesses & their lives. 

However, before long I had somehow lost my clarity of focus on that initial gap I had spotted. Instead I found myself looking up to & being inspired by other entrepreneurs who had maintained such a clarity, and excelled as a result. For far too long (2-3 years, at least) all I wanted to do was find out how they did it, so that I could do the same! After all they made it seem so easy, and if it seemed that easy for them, surely it would be just that easy for me too?!

The flaw I have come to see when finding myself trying to follow in the footsteps of the giants who have trodden a similar path before me, is that I was fighting for the crumbs they had dropped along the way. When in contrast sticking true to my original direction, whilst seemingly riskier in the shorter term, would likely have provided more of a reward in a shorter time frame. 

Key takeaway: It’s definitely worthwhile learning from the mistakes of others, but don’t try to recreate their successes. Definitely don’t try to follow their journey step by step. 

Take more risks

If you ask anyone “normal” (those who don’t have the entrepreneur’s condition) why they wouldn’t start their own business, I’m sure you’ll get a wide variety of answers. Whilst I can’t be certain of all of them, I know with absolute certainty one of them will likely be along the lines of “It’s too risky” or “I’m not brave enough”. 

Curiously during the early days, when I had very little to lose in the way of assets or ego, I wouldn’t say I felt these feelings of fear or cowardness. However as Adapt as a company started to grow and we took on our first employee & official office space, the pressure grew with it - suddenly there was more to lose if everything failed. 

With this increased pressure returned those dastardly feelings of fear & anxiety and slowly, without noticing, my strength & ability to make “risky” or “brave” decisions depleted. Before long I found myself very comfortable - too comfortable - struggling to take any risks and essentially “plodding along”. Flowing from day to day without making any notable progression. 

Key takeaway: Every risk should be calculated (as best as possible) before being made. If the numbers don’t add up, don’t take it. There’s being brave, then there’s being foolish. However, if the numbers allow and the longer term perks outweigh the shorter term pain, take the risk.

Hire people who truly bring value, not just more hands on deck

This is one of my more recent learnings from being in business. At an interesting point in Adapt’s timeline, finding the company at one of the infinite junctions that being in business brings, my path crossed with a potential hire. One which I, nor many other entrepreneurs, would have naturally considered exploring. 

However the timing & nature of the role this person would help fill in the company, was too good to pass up. Enter Sam Bliss, originally Executive Assistant but now Head of Operations here at Adapt, she started her time with us at one day per week but soon became a full time member. 

I have trusted Sam from our first day working together (this further strengthens my point above regarding trust). From this foundation of trust I was able to have the confidence to take the risk in offering Sam a salary far larger than any previous employee. Whilst scary at the time, the impact she has had and continues to have on the business proves that this was a worthwhile decision. Thank you Sam and the rest of the Adapt team, for all you continue to bring to Adapt.

Key takeaway: Yes, the more junior roles & associated smaller salaries aren’t as risky to fill. However the impact they have on the business, in the majority of cases, reflects this reduced risk. 

Trust & enjoy the journey

You’ve likely heard a phrase similar to “Life is a journey”, right? Well this is ever more pertinent as an entrepreneur. 

Business is often mistaken, in my opinion, as a finite game. One with a shared goal we are all racing to be the “first” to achieve. Whilst you might have goals you wish to achieve with your business, the sooner you realise the only person you’re in competition with is yourself, the sooner you’ll start to slow down & enjoy the experience. 

So what if someone already has that Lamborghini you dream about (insert another manufacturer, if a Lambo doesn’t get your engine going - yes, pun intended) or the house you so desperately want. Just because they have it, doesn’t mean you’re any less likely to be able to do the same. If anything it should reassure you that it is achievable!

Ultimately these materialistic things should only be seen as accolades, rewards or bonuses for achieving certain goals along your life journey. They should never be seen as destinations. If all you’re ever chasing are materialistic items, you will inevitably live a life of emptiness - wishing for & dreaming of the next shiny object. 

Similarly don’t let the tough times get you down. Unless you’re incredibly fortunate in business, you will face struggles & difficulties. Some of which may seem insurmountable, like there’s no way out. I for one have been through enough of these myself to know. 

The highs and lows are all part of your journey. Each one a new page or perhaps a chapter (depending on the scale!) in the novel of your life. Enjoy them, feel them, embrace them - for one day, if you’re lucky enough to live into old age, you’ll look back on them with fondness & pride of what you overcame. 

Key takeaway: Currently, none of us are going to live forever - sorry to break it to you! There’ll be good times & bad - the key is to know & realise this. When times are good, know that they won’t last forever but more importantly, when times are bad, know that things will get better again. There’s always a light amid the darkness; focus on the light not the darkness. Before long the darkness will be long forgotten.

Thank you 

If you’ve made it this far, thank you so much for taking time out of your day to read this article. If you enjoyed it, please do let me know by reacting below. Also I’d love to know whether you agree or disagree with any of the above and, if you’re in business too, what lessons you’ve learnt along your journey! I’d love to hear from you in the comments.