For the past few months I have been featuring small businesses around Wyoming & Colorado. I have gleaned so much wisdom from each of them as they venture down this entrepreneurial path. I notice myself appreciating everyone’s lane so much and I love watching them share their passion. As I’ve been doing these Small Business Spotlight’s for the past few months I have been collecting little nuggets of wisdom from each of them to share with you. I love sharing knowledge (this might explain why I went into education for my undergrad). I want to share this wisdom with all you fellow entrepreneurs.
Advice & Wisdom from Other Entrepreneurs
01. Start showing up on one platform and share
Share about your passions, business ideas, tools etc. You would be amazed at the community you can build from people you may never have met because you started sharing the longings, desires and learnings of your heart.
02. Surround yourself with a good support system
Being an entrepreneur takes a lot of support from the people around you as you are scaling up your business. It is important to have a support system to help you try out your new products, services, or even stay up late with you as you work on “one more thing.” It is so nice to have a company of people who love you and support you as you venture out into this new world.
03. Invest in good materials
I love how Chelsey said, “you are only as good as your materials.” It will take an upfront investment but having good materials is truly worth your time, money and energy as you create this new business. Having good materials also displays your brand in a certain way to potential customers. If you are using high-quality management tools, branding, and equipment it will most likely attract a higher-quality customer.
04. Know your worth – don’t be afraid to have your prices reflect the quality and time you put into your product
I was guilty of pricing too low a few years ago when I owned my photography business. I didn’t invest in a super high-quality camera and I also didn’t want to “scare people away” if I priced too high. Well, I learned that didn’t work in the long run because I ended up not being able to cover overhead and it ultimately wasn’t worth it after a while. When you invest your time and energy into your business, and put out a product or service that is high-quality, you will find the customers that see your worth. The right customers will come along, don’t underestimate yourself and the type of product you can provide them.
05. Outsource to others to free up your time
Outsourcing was created back in the 1970’s as more and more people learned they can spend their time on things they are passionate about. I love the idea of outsourcing because you spend your time and energy on things you are good at, which in turn creates better products and better outcomes. I find it interesting that the things you find mundane actually lights someone else up! It’s a great trade-off and (I think) would help society with burn-out issues.
06. Use resources to help you create a business plan, financial goals etc.
There are so many resources out there that have already been created. This idea goes back to a tried and true saying, “don’t reinvent the wheel!” So many new entrepreneurs try to recreate things that have already been created because of funding restraints. Do your research and find the tools that will get you the most bang for your buck right now without having to spend an exorbitant amount of time recreating things that have already been created.
07. Do it scared
Being an entrepreneur is scary. It requires a lot of risk, but after you’ve weighed the pros and cons, know your limits and jump in! It will take hard work and a deep faith and confidence in yourself. You will learn things along the way and probably fail a few times, but take heart. Great achievements have come from great failures.
08. Don’t be afraid to show people what you’re passionate about and how you can help them
You went into business because you were passionate about the product or service that you can provide the world. Be confident in that, and show people how you can help them and how it has helped you!
Lessons I’ve learned along the way:
01. Be vulnerable and share your story
I have learned through research and my own life experiences that people respond better with vulnerability and the human story. Everyone is aching in some way or another. Some of the best force for driving sales is saying, “me too.”
02. Listen to what makes you come alive
It took me several years to put aside what society was telling me I “should do” and actually listen to what my heart was telling me. My heart was telling me that I wanted to have a career and business that I could do from home during the morning and afternoon hours, and be with my two boys during the times they are awake. I cried so many tears out of fear when I quit my teaching job to pursue this business. I had to take a leap of faith to do something out of the status quo. I am so glad I did now, I love working with entrepreneurs and have a better work/life balance now.
03. Remember your why
Why did you go into business? Why is being an entrepreneur something you feel passionate about? Why is your service or product important for the world? Be sure to ask yourself these questions from time to time to remind yourself why you are doing this. There is a reason you went into business and it’s an important one! Just take time every so often to reignite the fire beneath you to keep going.
Take a look back at these small business spotlights