Top tips:
Things I have learnt
in business – part 2
Mark Coster
Founder of Pixooma
A couple of months ago, I shared with you five things that I had learnt in business as part of Pixooma’s recent 10th anniversary. This month, I wanted to reveal my final five pieces of advice/knowledge to help you navigate the challenges of running your own business, so you can utilise your time well, make sound decisions and become more successful.
In this second blog, I will deal with tips 6-10, which together with 1-5, are the essential elements that underpin our day-to day business activities.
I am confident that what I’ve learned so far, and the trusted partners I have built up around me, will help me get through whatever lies ahead.
6. When can I have it?
It can be all too easy to give in to a customer’s demands to try to turn something round quickly. But it’s worth remembering that whilst you might know how efficiently you work, your client might not work in the same way, and that is something you are unable to control. All you can do is to explain how you work, the project timelines, the processes involved, what you need and when. Plus, you need to keep the communication channels open.
My advice is to build in buffers that allow for delays, complications or pitfalls (yours or your clients), and if things slip, pick up the phone and speak to the customer. It’s essential that you manage their expectations. This can be done by simply under-promising and over-delivering, because that way clients will be surprised and delighted which helps to foster positive relationships.
7. You can’t do it all
Remember you are not super human. You do not have unlimited time and energy to take on every stage of a project and every piece of work. That’s equally true when it comes to networking. Be realistic. You cannot attend every meeting or event otherwise when would you be able to fit in any work?
My advice is to build a network of people who can help you in different ways, even those who do a similar thing to you can be useful contacts. Collaboration, not competition, is what I have learnt. And believe me there is plenty of scope for everyone to help each other whether that’s through referrals or outsourcing elements of your work.
8. Planning
If you don’t have a plan, how will you know when you’ve got there? Whether it’s having objectives, a business plan, marketing plan or growth plan, strategic or sales goals, financial forecasts or a budget, you will benefit from having a roadmap to guide your business towards its goals and helping you to adapt to changes in the market.
And there is no need to over complicate things. Your plans can be simple, rough thoughts on a piece of paper, or Google Docs in my case. Whatever form your plans are in, they can help to clarify thoughts and ideas, enable you to become more organised, and encourage you to implement strategies for success.
9. Doing
Don’t just be good at the planning, you also need to put any plans into action. After all a plan without any action is just a dream, so remember to allocate sufficient time for the doing too. If you’re not so good at the doing part, break things down into smaller and more manageable tasks. Always do what you say you are going to, make promises and keep them. Do only what you are good at - don’t try and be a jack of all trades, it confuses people and might end up with it taking longer and not be of the standard that you want it to be. If something isn’t your core skill, find someone who can help you from your network of contacts. Everyone, including the client, you, and the person you refer the work to, will be a winner!
10. Hang in there
Running your own business is not plain sailing. For every few wonderful things that happen, there will be a few testing times and setbacks. Tenacity and resilience are key. Plus, believing in yourself and your abilities is also important. Over the years, there have been a couple of sticky moments where the threat of having to go back into full-time employment became a little too close for comfort. But there is no better incentive for getting yourself out there and marketing the business more effectively.
Don’t relax too much when it comes to driving the business, but equally don’t send yourself mad either - running your own business is supposed to give you more freedom, not less. But having said that, if you enjoy the challenge, the pressure is always going to be worth it.
Who knows what the future holds, but whatever it is, I am confident that what I’ve learned so far, and the trusted partners I have built up around me, will help me get through whatever lies ahead.
Further reading:
Things I Have Learned in Business Part 1
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