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How to run your business so it doesn’t run you

It’s all fun and games until someone has to do the work!

But seriously, someone has to do the work. And there is nothing more important than building strong business foundations for your business to thrive on. With a solid relationship, your business won’t have you looking like you’ve seen the trenches of world wars like our man Forest here.

All jokes aside, how do new businesses start out? Here’s some important facts to consider:

  • 75% make it through their first 12 months.
  • 69% are still standing after two years.
  • On average, it takes 2-3 years for a new business to become profitable.

2-3 years? I don’t think so. Let’s beat those odds.

I’ve put together a list that encompasses 4 power principles to master as you are first starting out and running your business. These are going to shape its foundation, so you don’t just survive after two years, but thrive way earlier too.

Rule #1: Like you would in a relationship, stay committed, and show it love.

Real talk first. You wouldn’t be half-in, half-out your own relationship, right? It’s all or nothing, and the same applies to your new business. It should be something you love to do, so make sure that’s truly in your heart. It’s a lot harder to run a business when you don’t enjoy it or feel confident about it.

Just as much, prove to your business that you’re worthy to have it. Show your business the best attitude during the harshest of times. Make sure you’re completely committed, and that you know what you’re getting yourself into.

Rule #2: Don’t expect, be resourceful.

You are the creator of your world. Manifest what you want by going after it. Write down your goals, several times if you have to, and create and follow your own steps. No fairy godmother is going to show up telling you how to follow the yellow brick road!

But, I’ll give you a little map to resourcefulness itself:

  • Take action immediately
  • Stay open-minded and enthusiastic
  • Reach out and connect without equivocation

Rule #3: NO imposters – positive vibes only!

Be wary of those who often say “I can’t,” and consider removing them from your team.

For real! And make sure you yourself aren’t falling to imposter syndrome. This one’s particularly for my ladies out there. Catch yourself before you fall into this trap. If you’re looking for a way to completely stall your progress, this mindset should do it.

  • Imposter syndrome: a collection of feelings of inadequacy that persist despite evident success.

Rule #4: Stay committed, but also have a side business for your business

There are so many ways to monetize your skills or talents on the internet to get your business off the ground. These side hustles can cover a lot of bills:

  • Start blogging or open up a YouTube channel.
  • Offer freelancing services – platforms like Upwork, Freelancer, and Fiverr are redefining the workforce.
  • Open up an Etsy shop for just about anything.

Everyone’s formula is going to be different, but these are just some of the core principles that have worked for me. I’m not trying to take all your time here, but if you want a part 2, drop a comment! I know what it’s like diving into new businesses, even in some of the not-so-best circumstances, so being able to share what’s worked for me with my readers is a privilege.

You can read amy story here.

Share your relatable business problems and drop a comment with your best caption for this meme! I’ll repost the best one to my Instagram.

References:

https://blog.hubspot.com/sales/how-to-run-a-business

https://articles.bplans.com/business-ideas/small-business-ideas/side-business-ideas/

https://www.freshbooks.com/hub/startup/how-long-does-it-take-business-to-be-profitable

https://www.entrepreneur.com/slideshow/306752#2

Author avatar
Ambir
https://bizbar.co

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