Five years? It doesn't seem like it
On 24th May 2014 I departed the “corporate worldâ€. The Office for National Statistics says that the business survival rate up to 5 years is only 45.8%. Their talk of business birth and death rates is a bit depressing but as I seem to have beaten the stats not too much.
If I’m honest it feels at times like blind luck that I am still here, having half my income disappear at the start of 2016 when my largest customer went under and the great shed disaster of January 2015 both felt like the end. Since then however it has been largely an upward curve, the business bears little resemblance to the one I started, and is set to change more, but responding to change is I think one of the ways in which any business ensures its survival. So, have I learnt anything in the last 5 years?
Expect the unexpected – A bit of a truism but still something to keep in mind. It helps avert problems, but also to be able to respond to opportunities.
Have a support network – I am very lucky in this respect my friends and family have been behind me all the way. I have also made some good friends in the course of business and at various networking groups, and I’m happy to be part of their support networks as well.
Get professional help – I can feel many sage nods of agreement here, but what I mean is another voice in your business who can assist you in seeing past the daily busy-ness of business and look at the bigger picture.
Have a plan, not rules – A business without a plan, or goals, will run out of steam. I know where I’m going but don’t have a rigid view of how to get there. I was discussing this with a colleague the other day and we agreed that financial and personal goals are equally important.
It is all about you – Particularly if you are a solo act, you need to allow time for yourself within the business, otherwise slow down and burn out beckon.
All that is probably pretty obvious to most of you, but I had to learn it and it has stood me in good stead so far. The credits list of those who have helped me over the last 5 years would end up like the ones on a Marvel film, but without the funny bit at the end. Hopefully I have helped a few people as well. I was going to finish this with a chorus of David Bowie’s 5 years and then I found out it is about the end of the world…