What I’ve Learned Running a Business Over the Last 9 Months ……(where has the time gone?!?!)

Running a business can be an eye-opening experience filled with both challenges and rewards. After nine months on this journey, I've gathered valuable insights that have shaped my approach and mindset. Here a few things I’ve learnt along the way:

1. Flexibility is Key

The business landscape is constantly changing, and adaptability is crucial. Whether it’s shifting market demands, new technologies, or unexpected challenges, being flexible allows me to pivot quickly and seize opportunities as they arise.

2. Know Your Customers

Understanding my customers' needs and preferences has been fundamental. Engaging with them has helped me tailor my offerings and build lasting relationships. Listening to customers not only improves satisfaction but also drives loyalty.

3. Cash Flow Management is Crucial

Managing cash flow is one of the most important aspects of running a business. I’ve learned the hard way that having a solid financial plan and keeping a close eye on expenses can prevent stressful cash shortages. Building a cash reserve is essential for weathering tough times.

**If you owe one of your supplier’s money – PLEASE make sure you are paying your invoices on time – you never know what impact your late payment can have on a small business …. Sometimes it can be the difference between paying rent or putting food on the table!

4. The Power of Networking

Building connections with other entrepreneurs, mentors, and industry professionals has proven invaluable. Networking has opened doors to new opportunities, collaborations, and insights that I wouldn’t have accessed otherwise. Sharing experiences with others in the same boat can be incredibly supportive.

5. Resilience is Essential

Running a business is a rollercoaster of emotions. There will be highs and lows, and resilience is key to navigating the tough days. Embracing setbacks as learning experiences and maintaining a positive attitude has helped me push through challenges.

6. Invest in Your Team

If I had a team (that’s my long term goals ), investing in their development and well-being is crucial. A motivated and skilled workforce drives business success. I’ve learned the value of fostering a positive work environment, offering training opportunities, and encouraging open communication and this is something I preach to any of my clients. You are only as good as the team around you! Remember that.

7. Time Management is Vital

Juggling multiple responsibilities requires effective time management. Prioritizing tasks, setting realistic goals, and utilizing tools to stay organized have been crucial in ensuring that I stay productive without burning out.

8. Celebrate Small Wins

Finally, I’ve learned the importance of celebrating small victories. Acknowledging progress, no matter how minor, helps maintain motivation and reminds me of how far I’ve come. It’s easy to get caught up in the bigger picture, but recognizing achievements along the way is essential for sustaining morale. ?

Big shout out to my husband and close friends who have put up with my “Small win” celebration texts or calls!

Conclusion

The last nine months have been a transformative learning experience in my journey as a business owner. Each lesson has contributed to my growth and equipped me with the tools needed to navigate the challenges ahead. While the road may be tough, the rewards of entrepreneurship are worth every effort. If you’re on a similar journey, embrace the lessons and enjoy the ride!

What have you learned in your business journey?