10 Things I wish I knew when I was starting out in business

Whether you’ve been in business for a few years or just want to get started, there are a few things I wish I had known when I was starting out. Business is hard and success is unlikely without the right mindset and the right strategy. But if you’re willing to put in the time and effort, there’s no limit on what you can achieve.

In this article, I’m going to share what I’ve learned along the way and give you 10 things I wish someone had told me when I was starting out in business.

1. It’s hard work

If you think you’re going to make lots of money quickly, think again. Successful businesses take a lot of time and effort to build. Even if your plan is to sell your business in a few years, you need to be prepared for it taking three or four times longer than that – if not more. Don’t expect things to take off instantly and plan for a long, slow start.

2. You need thick skin

If something goes wrong, you’re going to have to deal with it. You can’t avoid the problems that come your way by shutting the business down or letting the negative people dictate how you’ll spend your time. You will get a lot of criticism, but don’t let it affect you personally – stay professional and focused on what’s best for your business.

3. If it’s not fun, people won’t do it

Sure, you might get the odd co-worker to join in for a bit, but if people don’t enjoy doing something for a living, they won’t stay. If you want to make a business where everyone feels valued and happy, you need to make sure your job is enjoyable. Otherwise, it’s not worth doing.

4. Be prepared to change direction

No matter what your initial plan is, you’ll probably need to change direction at some point. Circumstances, the market and the people around you will change – don’t be afraid to adapt your business and make changes.

5. It’s personal, but keep it professional

Don’t be afraid of letting people get to know you a bit better – being professional doesn’t mean keeping everyone at arm’s length. I still keep in touch with most of my first customers.

6. Use it or lose it

The business world is very similar to the job market. There’s a lot of competition, but in the long run, quality people, not quantity, will win out. To succeed, you need to build a strong reputation and a solid track record – this improves your chances of getting work from other people, which makes you more valuable to potential employers.

7. Know your priorities

Even if you only have a few hours to spend a week on your business, you can still make progress. Focus on the areas that are most important and don’t worry about doing everything. Build up your skills and enjoy the process – don’t worry about taking shortcuts or not being perfect first time.

8. Don’t do it alone

Starting a business is hard work and there’s no shame in admitting that you need help at some point along the way. Whether it’s a business coach or expert, get some help and make sure everyone is on the same page.

9. Dream big, but work smart

A lot of people dream of being in the top 1% with the best companies and earning millions each year. But these people will never get there because they’re too busy making millions to count. The only way to become one of the top 1% is to focus on building a business that already has a great reputation and then doing everything you can to improve things every year.

10. It’s not a competition

Don’t waste your time worrying about what other people are doing. There will always be someone out there making more money or getting more attention than you, so don’t waste your time feeling bad about it. Instead, focus on building a solid business and then enjoy the success for as long as it lasts.

“If you work just for the money, you’ll never make it, but if you love what you’re doing and you always put the customer first, success will be yours. ”

I hope these 10 things I wish I knew when I was starting out in business have been interesting and useful. If you have any other tips or advice, please feel free to share in the comments below!