5 Things I've Learned from 5 Years in Business

I feel lucky to say that I've now been in business for myself for 5 full years. Over that time period I've failed a lot. I've grown a lot. And I've learned a lot.

In honor of this milestone, I've thought up 5 lessons I've learned from 5 years of being in business.

Even if you don't have your own business or have any desire to start one, I hope that these ideas can help you in whatever career you find yourself in.

Here we go...

5 Things I've Learned from 5 Years of Being in Business:

1 – Sprint then Jog

The first year is all about racing to clients. It's about survival and cash flow. So moving at a high speed is critical. But sprinting isn’t sustainable. Once you find your groove (aka your niche) slow that sprint into a jog. Sprinting isn’t sustainable in the long run.

This "Sprint then jog" rule applies to all careers. In the first few years, you may find yourself racing to "get ahead," but this may cause burnout. It's OK to go fast in the beginning, but once you find your path settle in and slow your pace.

2 – Chase the Antelope

It can be tempting to spend your day chasing small opportunities, or what I call “mice.” But, while mice keep you afloat, they won’t get you to the next level. For that, you need to spend time each week chasing big deals, or “antelope.” These are the clients that require more work, but once the deal lands... it can make your year.

If your goal is to climb up in your company, chasing antelope is equally as important. Each year, you should strategize on how to network with the higher-ups. These are your antelope and the true decision makers.

3 – Lead with Value

In the first few months of my business I had trouble landing meetings with prospects. In retrospect, it was because I was asking for their time without offering anything of value. I didn’t start finding success until I started giving value first. Give things away for free. Be of value. The clients will follow.

No matter what your job is, you need to a person of value in order to gain allegiance from your colleagues and trust from your superiors. You want to stand out? Give more than what they ask for.

4 – Don’t Judge what Happens

When a deal comes together or falls apart, it can be tempting to label the event as “good” or “bad.” But, you never know when a big sale can lead to a sour client. Or when a deal falling apart can provide the bandwidth for taking on a better client. Don’t judge anything that happens.

Throughout your career, there will be all sorts of events that you'll be tempted to judge. But, what if a layoff leads to your dream job at another company? Whatever happens, don't judge it. Trust your path.

5 - Do Less. Accomplish More.

I've learned that doing more doesn't always make more. More emails. More calls. More events. More money? Not so fast. You need to find ways to scale yourself, how to drop whatever doesn't matter, and leverage new technologies to achieve your goals. In the last year I've invested in email automation, a CRM, Chatbots, social media automation, and more to make it seem like I'm everywhere — even when I'm not.

Making more and being more doesn't always mean doing more. Hack away at the unessential and double down on what matters.

If I could go back in time and coach myself 5 years ago, I would’ve told myself these four things.

Whether you’re building a business, growing a sales territory, or climbing the corporate ladder, I hope some of these ideas can help you too.

PSA: My wife, Pema Sherpa, and I have another blog called The Mindful Minute ! Click the link to subscribe.