THREE THINGS I WISH I HAD KNOWN BEFORE I STARTED MY OWN BUSINESS
It was October 2020. After six months of being one of the lucky 5% who was able to keep employment at one of the largest hotels in Canada, I was burnt out. The pandemic no doubt had a substantial impact on everyone one way or another but for my fellow friends and coworkers in the hospitality industry, there truly was nothing we could have done to prepare for what March 2020 brought.
Amidst this burn out (as my dad likes to call it in his precious British accent, “me burning the candle at both ends”-I hear it in my head now), I felt I was still in a position where I could not say no. As the pandemic lingered on, small businesses were now in need (could say more than ever) to work with affordable marketing and PR agencies and connect with people online (AKA through social media, my speciality). As small projects and contract work came in I thought to myself, these must be just one offs.
I had NEVER considered myself to be an entrepreneur and as a very Type A, organized person (I have had to do lists since the age of seven), the rocky road of starting a business was never something that particularly appealed to me. I liked knowing the outcomes and hey…having a paycheque that came on the exact day it was expected was pretty nice too.
But like most people in their twenties, my goals and views on what I wanted in life were changing. I started to feel this call that it was time to take a risk and get uncomfortable. After five (to be honest, painful) months (hello to my new friends, panic attacks and migraines!!) of trying to keep up with my very full time job and the contract work, it was time to make a decision.
I quit the perceived dream job to pursue my other dreams.
What has followed in these last ten months has been nothing short of highly eventful. I have had the highest of highs (there truly is no better feeling than landing a dream client) and the lowest of lows (my first attempted vacation was greeted by an anxiety attack with tears trying to book a flight back to Toronto as soon as possible to get back to work).
This current January 2022 version of me is still the same person who shakily gave her two weeks notice to her corporate job ten months ago, just a stronger and more confident version.
And why is this? Well, I learned some hard lessons.
So here it is, the top three things I WISH I would have known before I started my own business:
Me and my as I like to call him, “career advisor” aka Dad.
1. It is OKAY to ask for help.
When you own your own business, you fall into the trap that the success of your business relies on you and only you. While this is certainly true, it is important to take into account-what resources make you, you?
Do you have a family member or friend who has started a business? To keep in mind, this does not even need to be someone in the same industry. At the core, owning a business and being an entrepreneur have similar foundations across most industries and there is surely someone in your network who has gone through the growing pains.
When you ask for help from someone who is not so close to the surface, you will get an outsider’s perspective which can bring a highly needed dose of reality.
As an example, I will never forget the day a client cancelled their services for the first time. There were tears, moments of extreme doubt and wishes that I had never left my corporate job. It would have been easy to continue to go down the rabbit hole, cue sad songs (my favourite, Every Time by Britney) and give up. Instead of letting myself go further into self doubt and destruction, I picked up the phone. What was on the other side of the phone were plenty of stories of clients that also had dropped highly successful businesses and how the best lessons can truly come from these moments of defeat.
2. You are going to doubt yourself and imposter syndrome is real.
Another moment of truth? When I receive messages along the lines of: “You’re killing it! So proud of you! Wow, you are busy!” I feel like an absolute fraud. In the corporate world, you are given visible signs and feedback that you are excelling at your job (similar to in school when you receive grades on tests and report cards.) Man, I loved those signs of self assurance! Yes, I was one of THOSE kids). When you own your own business, you are your own boss and your own worst critic. The only person who is going to praise your work and keep you going is (drumroll please)...YOU.
So, my most recent discovery? Those Five Minute Journals actually work. I start the day with not just telling myself but actually writing out that I am good enough and can handle anything any client throws my way. Through doing things that challenge myself or make me uncomfortable everyday (taking on a new project or something as simple as reaching out to someone who I admire), my confidence has skyrocketed.
First day on the job, ready to say yes to any and all guest request-no boundaries and ready to burn!
3. You need to have boundaries.
And this one goes out to….all my fellow people pleasers out there! I grew up in the hospitality industry where the guest is always right and it was drilled into me that whenever there is a task or opportunity, you ALWAYS raise your hand up and volunteer.
While this built a great work ethic, it destroyed me in the first few months of my business. I did not understand that I was not on call 24/7 and that it was my responsibility to ensure that I did not get burnt out again and to produce the best work possible for my clients-which meant I could not continue working 17 hours a day, six days a week.
Through setting clear expectations and agreements (more on how to write a client agreement coming soon!) there is less room for your boundaries being pushed and you eventually turning resentful to a client (who likely may not even realize they are pushing boundaries anyways).
Some quick tips on how to set boundaries:
Be clear on how you want to communicate. For example, if you need things in writing to reference, be firm that you need everything on email.
Be clear on what days you work. Sure you may work some weekends to get ahead of things, but if you need your weekends off to recharge (no shame in that!), do not feel pressured to respond to non-urgent inquiries over the weekend.
Track your time. There are plenty of free tools out there that offer this. Through tracking you can ensure that your agreements are fair on both ends and that you allocate your time correctly.
The moral of the story….if I can start a business, you can too. There is no right time to do it and you WILL make mistakes along the way.
Entrepreneurship can be a lonely road but through reminding myself of these three tips and relying on my network of other entrepreneurs, I have been able to get through some pretty testing times.
As always, you are stronger than yesterday and better work. ;)
xoxo,
Megan
