10 Important Lessons I've Learned While Running Multiple Small Businesses
October 03, 2018
As the Co-Founder of Limbo Jewelry, Triple Z Threadz, Potigy, and soon to be Little Limbo, I have learned many lessons on the road to small business “success”. Each and every year I am faced with new challenges, setbacks, and disappointments like most other business owners in today's competitive climate.
Back in 2014 I wrote a blog to share some of my experiences and the lessons I was learning along the way. Fast forward to today - we are now running 3 brick and mortar shops with a 4th opening in November so I thought it was important to share again. The 10 lessons I am sharing resonate even more now as we continue to grow.
I am realizing that happiness is found when you are striving for your potential, it is the journey and not the destination. Happiness is found while staying in the moment and appreciating where you are now.
In fact, 2017 and 2018 were particularly trying for myself and my husband, Limbo Designer and Co-Owner Edson Enriquez. Although this year was not easy, it was perfect. Perfect because I learned things I needed to, because we experienced growth another year, and because I feel I have a lot to be thankful for.
MY LIST OF TOP 10 LESSONS LEARNED WHILE RUNNING MULTIPLE SMALL BUSINESSES:
- Surround yourself with the best people you can and give them an opportunity to do what they love to do best. Each member of our crew is a leader themselves. Be collaborative with your staff, everyone has something to bring to the table. I truly appreciate everyone we have the opportunity to work with.
- Make as many mistakes as you can. Learn from those mistakes. Get them the hell out of the way and move on.
- Do the best you can and do it when you say you’re going to. Running behind schedule? Let the other party know, communication is essential.
- Organize your to-do list before bedtime and after a good night sleep then tackle it! Being exhausted does not encourage creativity or efficiency.
- Delegate. Find good people you can delegate to. (Hint: This is half the battle).
- One bad apple can spoil the bunch. It is unfortunate, but as positive as you try to keep your working environment, one person’s negativity can override 10 people’s positive energy. Don’t allow it and don’t let toxic people affect you or your business.
- Read the E Myth by Michael E. Gerber. Balance your inner technician, entrepreneur, and manager.
- Offer support to others in the same field. Competition is a real thing, but remember we are all in this together.
- Be present. Check in with your spouse or family. Ask about their day and actually listen without thinking about your to do list.
- Go on vacation and recharge your batteries. It’s in the moments of leisure time that the brain is working to solve issues so you can begin your next burst of intense work with a renewed perspective. Do you feel you can’t leave your business? If your business depends on you to be present 100% of the time, your business is running you. You are not running it.