8 Lessons I've Learned As a Small Business Owner

If, like me, you’ve been in business for a while, you’ve made plenty of mistakes.  I sure have!  But of course that’s part of the learning curve, and if you’re not making mistakes, you’re not growing, changing, trying new things, striving to be at the top, and so on.  In no specific order, here are the mistakes I’ve either made or seen others make.   

1. To be taken seriously, have processes in place.  Not waste-of-time-we-are-in-Dilbert’s-world processes, but ones that show you have a handle on what you’re doing and a clear sense of how to get from point A to point B. I have found this to be important for small and large clients, as I look more professional, competent, capable, and therefore trustworthy.
2. Don’t cut corners, because man, you get what you pay for!  Because of what I do, I can instantly tell when a little time, effort, or money was spent on logos, business cards, websites, and sales materials.  If you’re scrimping on these things, I will very quickly question the quality of your product or service.  
3. Do your research.  Before taking the plunge, ask around about vendors and potential business partners.  I was about to become a preferred vendor for a company this past year when I was warned by a few people that doing business with this company could seriously jeopardize my reputation and integrity.
4. Develop a support network.  I have found that it’s extremely important to have a group of people in your professional network you can turn to for advice, as they have most likely been in similar situations and can offer you guidance and support. 
5. Don’t be afraid to ask.  When you meet someone you could potentially work with, ask how you could work together.  When you are discussing a project with someone, ask for their business.  Ask, don’t assume.
6. Narrow your focus.  I started out as a copywriter/editor without a focus on industry, projects, etc.  Now I’m a B2B copywriter, editor, and branding strategist who works primarily with technology and government services companies and specializes in website content, newsletters, blogs, articles, and marketing collateral.   
7. Charge what you’re worth.  Never discount your service (I’ve done it), and be sure you’re charging the going rate (I am now). 
8. Do not give away services for free.   I’m not talking about pro bono work for a non-profit you support, but rather working for free for a start-up for equity, stock, or whatever.  If the company never takes off, you’re left with nothing.  
9. Brevity is key.  I have suddenly begun getting emails from a company that literally knows nothing about marketing.  The emails are very long (keep scrolling…almost there), full of crazy, almost incoherent graphics of every size and color, and riddled with grammar, spelling, and punctuation mistakes.  I wouldn’t buy from them; would you?

This entry was posted on Monday, May 24th, 2010 at 8:00 am and is filed under Marketing, small business. You can follow any responses to this entry through the RSS 2.0 feed.


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