Whether you started your business years ago or plan to soon, as entrepreneurs, the approaches we take professionally tend to evolve as we gain knowledge and experience. There is always something to learn as we chart our way to success. Below, you’ll find 4 things I wish I knew when starting a business. I’d love for you to tell me in the comments something you wish you’d have known or share a great piece of advice given to you. I love connecting with fellow business owners. Now, on to the lessons!
I Wish I’d Known My Niches Sooner.
A lot goes into figuring out our business niche(s). We tend to think one or two things are a fit for us at the beginning and often end up reconsidering them down the road. We later learn what draws us, where our talents lie, and what’s important to us professionally and personally.
When I graduated from photography school, I wasn’t sure what kind of photography to focus on. So, I fell into the wedding and family side. I quickly discovered that it was not for me.
Thankfully, I realized the corporate world needs photography too, and adored supporting women in business. Along with this transition, I also shifted my focus from concert photography (which will always have a place in my heart) to special events. Plus, I learned how social architectural/interior photography could be and finally saw how right a professor had been all along about my strength in that area.
If I’d known that business branding, corporate, editorial, and architectural/interior were my niches sooner, I could have pursued them from the beginning.
I Wish I’d Known How Powerful Networking and Referrals Are.
When it comes to marketing, I’ve tried almost every strategy, especially when I was just getting started. I would hang banners, give out business cards, leave business cards laying around hoping people would pick them up, and never got much out of any of that.
What I have learned since then is that your most powerful marketing tools are you, your work, and the experience you provide. Because no matter your field, referrals can easily become the main source of new business. Do great work with a great attitude and put yourself out there to meet new people through networking events and social gatherings, and clients will come knocking.
Word of mouth continually plays a huge role in me getting new clients. I am forever grateful that people think highly enough of me and my work to make those recommendations.
Photo Credit: CatMax Photography
I Wish I’d Known the Opportunities That Downtime Provides.
It’s easy to panic when business gets slow. Your mind might race, but you have to trust the process. Demand naturally ebbs and flows. There will always be circumstances we can’t control. I think the pandemic has been the ultimate reminder of that.
Instead of giving in to the negative feedback loop my mind wants to feed me, I now focus on how I can up-level my business. I ask myself, ‘What can I do to get more business now and in the future? How can I be more visible? What tasks can I take care of that will make life easier in the future?’
I Wish I’d Known How Important It Is to Choose the Right People.
Take the time to research the people you are considering hiring to help you with different aspects of your business, whether it be accounting or technology. Making sure they’re the right fit for your needs will save you time and money.
Even if the person is a referral, do the work to vet them and consider if their experience and work style is a match for what you’re trying to accomplish and the way you’d like to get it done.
Great people can take you leaps and bounds; others can drag you down. Most importantly, when you find professionals you click with, stick with them and do what you can to give back and help their businesses grow too.
So, there you have it, 4 things I wish I’d known when starting a business. I don’t regret anything, as every experience is part of the journey, but I’m glad I have the knowledge I do now.
What are some lessons you’ve learned as an entrepreneur or pieces of advice you’ve received?