Thinking of Starting a Business? Read This First—2 Years of Lessons in 5 Minutes
As I mark my second year as a business owner, I find myself reflecting on the journey that brought me here. In this blog, I'll share five pivotal lessons and the retrospective questions that will help you if you're considering this path.
Lesson #1: Be prepared for worst-case scenarios.
“I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.”
When I left my role as Chief Marketing Officer (CMO) to start my own business, I was met with optimism, support and caring concern from family and friends. Everything from "I'm so excited for you" to "Wow, that's so brave" to "I couldn't do it". The latter is very understandable. Why would you want to go from a high-paying job and structure to income volatility job and wearing all the hats? Becoming a business owner demands a lot of you.
For me, the excitement of the risk, the potential reward, and the freedom to work as I choose was worth the bet. However, that bet comes at a cost if you're not prepared for all kinds of scenarios, including being unable to work.
In late 2024, while exploring life as a digital nomad - that in itself deserves an entire blog post - I was involved in a serious motor vehicle accident. I had a broken right kneecap, a nerve tear and a broken hip requiring a full hip replacement. The traumatic impact on my body, mental health and spirit put me out of work for over six months. I’m only just returning to work now and I'm still requiring intensive physiotherapy and rehabilitation to walk as comfortably as before. This was definitely not on my 2024 bingo card.
Fortunately, having a supportive family and income insurance is a lifeline when you're your own boss. It's crucial to have safety nets in place for the worst-case scenarios, especially regarding finances, because sometimes, perseverance in entrepreneurship isn't just about pushing through "normal" business challenges.
Reflection Question #1
What measures would I need to take to ensure security should the unexpected happen?
Lesson #2: Make time for the high-value work you love.
“The vision is really about doing less, being more productive, and enjoying life more. It’s about applying the principles of delegation, automation, and elimination to create time and financial freedom.”
If, like me, you are multi-passionate and like to get your hands dirty, you'll want to start your business doing everything while finding time for passion projects. This means you'll need to find ways of increasing your available time.
I realised early on that I don't enjoy bookkeeping and accounting. It's not that I can't do it; I actually geek out on Google Sheets, but I know I don't enjoy it. Your time is finite when you're working alone like I am. And if you're trying to design your life to have more freedom, one way you can do that is to outsource or automate. I do a bit of both, starting with accounting and am learning AI tools to increase my efficiency, while streamlining my workflows. I adopted this early on as it was one of the standout points in Tim Ferriss's The Four-Hour Work Week - work smarter, not harder, by leveraging systems and other people's time.
Reflection Question #2
What jobs or tasks don't I enjoy, and how can I outsource them?
Lesson #3: You don't have to sell like everyone else.
“The currency of real networking is not greed but generosity.”
Honestly, I'm not the most active networker nor am I keen to do business development. Instead, I prefer to find time to give to others. Rather than rubbing shoulders with people at Meetups or startup events, I give my time to those in my network.
Have a marketing question? Hit me up!
Know someone who's looking for advice? Send them my way.
Need someone to bounce an idea? I'll send you a Google Meet.
I have actively opened my virtual door and more than a few cafe doors to people who wanted to chat about brand, marketing, or business strategy. I've also been entrusted with referrals for mentees, primarily women and first—or second-generation Australians.
I am inquisitive, so I love meeting new people and learning about them and what makes them tick. I also love helping others solve problems or navigate their way through the technology industry. By simply opening my door to others, I have been enriched with an incredible network of people and prospects who have, in turn, become clients, making this my number one source of business.
Reflection Question #3
If you could design the ideal process for attracting and securing clients—one that feels natural, effective, and aligned with your strengths—what would that process look like?
Lesson #4: Understand and leverage your personal brand
“Your personal brand is what people say about you when you’re not in the room.”
While admitting things, I don't like LinkedIn or other social media platforms. There, I said it. I appreciate them as a means of connecting with friends (even if pebbling memes), staying somewhat in tune with what's happening in the world, and learning about a broad set of topics through my feed.
I am also not blind to the fact that these platforms are more media than they are for social good. The information we learn from there is a snapshot from a bigger conversation that may have been edited out of context. Everybody with access to a smartphone can express whatever they want without consequence and we're consuming unhealthy perspectives.
However, as a marketer and strategist, I know this is how much of the modern world consumes information and content. So, rather than fight against it, I needed to learn how to harness its power while staying true to myself. I also coach my clients through this because many people feel the same way.
To ensure that I stay somewhat front of mind within my network, I had to learn a few things about self-promotion on LinkedIn:
1. The first video is always the most challenging and most uncomfortable, but you'll be surprised by the support you receive.
2. Your point of view matters to someone out there, so even if you doubt it, post it.
3. Ask questions and tag people you know who are experts or authorities in the space if it supports the topic that you're speaking or writing about.
LinkedIn, after all, is a networking platform.
Reflection Question #4
How can I show up more consistently on [insert platform name] in a way that feels authentic to me while keeping my network engaged?
Lesson #5: It's not for everyone, and some days, I’ve wondered if it's right for me.
“Entrepreneurship isn’t just tough - it’s brutal. It takes more than hard work; it demands obsession, resilience, and a high tolerance for risk. Most people aren’t wired for it.”
According to Lawpath’s Statistics Small Businesses in Australia, “60% of businesses in Australia will fail within their first three years of operation”.
So, why bother?
Because it's not about failing. It's about trying, learning and seeing if it works for you. You don’t know if you don’t try. Honestly, it's not for everyone. No matter what those Instagram Coaches say. I believe there is value in working for a company in that it provides a level of stability and security, and someone else deals with the admin tasks that you don't want to. For those who want this, I respect that.
Before diving into entrepreneurship, people should be brutally honest with themselves.
Reflection Question #5
Why do I really want to start this business?
Is it passion? Financial freedom? A problem I'm obsessed with solving? The company won't survive the tough days if the "why" isn't strong.
Reflection Question #6
How will I sustain myself financially while I grow?
Businesses take time to become profitable. Do I have savings or a financial plan to stay afloat while I build? Many businesses fail because they run out of cash, not because they lack potential.
Reflection Question #7
Am I ready for the mental and emotional rollercoaster?
Entrepreneurship is not easy. After the high of starting, can I handle rejection, uncertainty, and setbacks without giving up? If not, I should rethink.
Final Thoughts
For all the setbacks, challenges, and uncertainty, this is right for me.
Why?
Because every day, I get to choose who I work with and provide a space for founders to experiment, gain clarity, and grow with purpose. My ‘why’ is stronger than my desire to simply be a business owner.
If you've reached this far, thank you for reading.
If you’ve answered those reflection questions and still unsure if it's right for you, my virtual door is open for a chat.
