In August, I shared the 3 mistakes I made when starting my business. Making mistakes in business is almost a given. Some are bigger than others, but they all contribute to growing and developing your skills and knowledge as a business owner. Sometimes it can be easy to focus on our mistakes (and feel the cringe of thinking “why did I do that!”) and we miss the chance to reflect on things we did RIGHT. So, in the interest of balancing out my top 3 mistakes, I want to share the top three things I did right when launching my business, and I hope these insights can help you on your entrepreneurial path.
Surrounding myself with an incredible and passionate team
Early on, one of the best decisions I made was to surround myself with an incredible and passionate team. As corny as the saying is, it really is true – “Teamwork makes the dream work.” Once I scaled my “one women show” to an agency model, I went on the hunt for team members who shared my passion for supporting businesses and who loved learning! I wanted a team that would be flexible and open to increasing their knowledge so we could pass that benefit on to our clients. The exceptional team I get the privilege of working with each day has been an invaluable addition. Being surrounded by a team of individuals who share my vision and are as enthusiastic about The Administration Agency as I am, has made all the difference.
No matter what your business is, a passionate team isn’t just about the skills they bring to the table; it’s also about their dedication and belief in your business’s success. You won’t regret the time invested in finding the right people who align with your values and vision.
Investing in Technology
Technology is the backbone of most successful businesses in today’s digital age. Embracing and investing in the right technology can significantly impact your business’s efficiency and competitiveness. This was my second big win when starting my business.
Setting myself up with a well speced laptop, dual monitors and the fastest internet available was one of those decisions I look back on and KNOW I made the right choice. As a remote business, the technology I use has a direct impact on the level of service I can provide to my clients and I am so glad that I went for the best that I could afford at the time. Over time, it’s been clear that the right technology has saved me both time and resources.
Don’t be afraid to explore new tech trends and innovations – this is especially true if you’ll be relying on that technology to provide your goods and or services! It’s an investment that pays dividends in the long run and ensures you stay ahead of the competition.
Investing in your business makes a powerful statement about what your belief in your abilities as a business owner.
Having a Plan – No Matter How Imperfect!
I know I know, you’ve probably heard it a thousand times before! Planning is essential when launching a business. Or what about “if you fail to plan you plan to fail” Ouch! That one really stings. BUT, unfortunately, it’s true. Having a business plan, no matter how imperfect it might be, is important to ANY size business, especially one just starting out. Having a plan in place was something I took seriously from day one. And while I like to pull out my original plan every now and then so I can indulge in some cringe (What was I thinking!) I also love looking at it, because it’s a great way to show how far the business has come.
While no plan is perfect, having a roadmap for your business sets a clear direction and keeps you focused on your goals.
So what should go in your plan? Every business is different, but it should outline your business’s mission, vision, and strategies for growth. Business plans aren’t a one-time set and forget, it’s a dynamic document that evolves as your business does. It helps you make informed decisions, allocate resources effectively, and measure your progress.
Even if your initial plan is imperfect changes substantially, the act of planning itself is invaluable. It forces you to think critically about your business and consider various scenarios. Over time, you can refine and adapt your plan as you learn and grow.
Focussing on our mistakes is easy, but it’s equally important to recognise and celebrate our successes. Building an incredible team, investing in technology, and having an imperfect plan were the three things I got right when starting my business.
Was there something in your business that you look back on and KNOW it was a great decision? What was it? Is it the kind of advice you’d pass onto a business newbie?
Looking for a bespoke business solution? One tailored to your exact needs? Why not book in a complimentary chat today and we can find out together how The Administration Agency can support you to grow and scale your business.