Business Lessons I Learned the Hard Way (So You Don't Have To)

 Starting a business is one of the most exciting--and humbling--journeys you can go on. I was excited, driven, and eager when I began my entrepreneur journey with big goals inand big dreams. What I wasn't prepared for were the painful lessons that came along the way. And the lessons weren't found in books like most business lessons are, but were discovered through mistakes, missteps, and some very painful experiences. Today I want to share these lessons with you, to spare you from making the same mistakes and allow you to grow smarter and faster. 

1. Don't Chase Every Opportunity

At the beginning of my journey, I said "YES" to everything! New products, new clients, new markets. I thought the more things I was working on, the better! I learned quickly that the lack of focus causes burnout and confusion, & as I learned from my first boss, NO was a good answer. Lesson learned, focus on your strengths and ignore distractions. 

2. Cash Flow Is King

I ran a business that was profitable on paper but I could not always cover my Bills, what was going on? Poor cash flow management - we sold our product like it was going out of style but there are no sales if we could not cover costs. One of the biggest business lessons I learned is to manage your money as if it is made or broken on it, because it very well could. 

3. Hiring Too Fast Can Hurt

 I regret hiring people I didn’t even fully understand what I needed. There were different mismatches in role which wasted everyone’s time. Lesson learned; hire slow, train well and build a team that aligns with your vision.

4. Marketing is more important than you think

For a long time I believed in “a good product sells itself.” I was wrong. You could have the best service in the world, but if nobody knows you’re out there, you have no chance for survival. Invest in marketing attention wisely, and never stop learning how to reach your market.

5. Failure Isn't Final 

Some of my concepts have failed. Some launches have flopped. However, every failure has provided me with some form of learning. What is most important is to fail quickly, learn quicker and keep moving forward. 

Final Thoughts: 

The entrepreneur life is not easy, but every misstep I made on my journey shaped the business owner I’ve become. I share these hard learned lessons in hopes you will build your pathway with more confidence, and less regrets. Learn from my struggles - and go out and build awesome!