Lessons Learned in the First Year of Business
Lessons Learned in the first year of business
Sitting in the car on the Seabridge between St.Kitts and Nevis after attending the Caribbean Investment Summit & Citizenship conference reflecting on the past year… I was thinking about the most important lessons that I learned over the past year after taking the decision to start my own business and leaving behind my comfortable corporate job at the law firm Stuarts Walker Hersant Humphries in the Cayman Islands. I left my previous job with the fear of the unknown, left many of my friends and left my comfort zone to fulfill my dream of being a global entrepreneur.
Here are my top ten lessons learned in the first year of business:
1.If it’s easy everyone would do it — One of my friends used to tell me this saying all the time but it wasn’t until I was working for myself that I truly understood the impact of this statement. As an entrepreneur you will at times have doubts and sometimes feel that achieving the desired result is impossible. By continuing to persevere, you can always find a way to make it happen and overcome obstacles. When it get’s difficult keep pushing.
2.Just do it — perfection gets you nowhere. When you think too much you come up with hundreds of reasons not to do something. Too many people think too much and they don’t act and this is why most people work for others. Taking the plunge and figuring out how things work on the go will create momentum that will help advance you and your business.
3.Sometimes it is okay to take a break — Learning to balance different aspects of the business and to take a break to recharge is important. You can’t always be doing everything and taking a break at least once a week helps you to recharge and ensure that you are the most productive when you are working. Taking a break might mean stepping away from your laptop and cellphone. But don’t rest too much because it’s hard to take back lost time.
4.Optimize your time — Learning to focus on what is important is key. Some tasks can take up all your time but in the grande scheme of things they are not as important as the core aspects of your business. Regularly making a list of top priorities helps keep you on track and ensures that the most important tasks get completed.
5.Work smart and be smart in your actions — Have a game plan, a strategy, a vision and direction. By being selective and deliberate with what you do and how you do something will help achieve the desired results. Business is like a game of chess so make every move count. Set goals that fit with the company vision and take the best steps to achieve them.
6.Environment is important — The top 5 people who you spend most of your time with are a reflection of who you are and what you will achieve. Choose who you surround yourself with wisely. With time, the people around you will influence the way you act and the way you think. If everybody goes to the gym on a daily basis you will likely end up going to the gym. If everyone around you eats McDonalds than you will likely eat McDonalds. So make sure to surround yourself with people who you wish to be like and who will lift you up to where you want to go.
7.Don’t be afraid of rejection — Often we have been raised to fear rejection. As a result of the fear of being rejected we don’t act. Being turned down, told no or rejected is inevitable in business. Fear is temporary and you need to keep moving forward. Real fear is when you are flying a plane and trying to land on a runway when the weather is foggy and you feel like you are going to die any second.
8.Repeat what works. Look to people that are doing what you want to do and become inspired by them. Repeat what they are doing. Repetition is something we learn in childhood and by observing successful people and repeating what they are doing you can learn how to be successful.
9.Learn how to count — Mathematics & the mathematics of the money is important so don’t be scared to sit down and do the math. Do the numbers! Many people don’t realize the compound effect of their actions. Learn to have money work for you… and not work for the money. Implementing this concept is one of the greatest arts. Everybody wants your money, so learn to keep it. Invest your money to work for you.
10.Don’t be afraid to invest in yourself — Many people buy stocks, invest in other peoples project and many people lose everything doing so. Don’t be scared to invest in yourself, invest in your business, invest in your development, in your education. Whether it is seminars, conferences, courses, books or ebooks, you will learn, grow, change and be inspired. Never stop investing in your education. Life will pay you back many times for investing in yourself.
Jennifer Harding-Marlin
Citizenship by Investment Specialist — St.Kitts & Nevis Citizenship by Investment / Cyprus Citizenship by Investment
