I’ve learned so many things from running a business, but these are five lessons I learned the hard way:
1. Some days you’re going to hate what you do.
Even when you love something so much that you know it’s what you want to do every day, there are going to be some days where you can’t stand it. You’re burnt out, and you can’t drag yourself out of bed even when you’re trying to bribe yourself with ice cream for breakfast. That’s when you need a break from the thing you love.
2. No matter what you do, some people will never be happy.
There are some people who just plain suck at life. They’re miserable or struggling with something personally, so they take it out on you. You’ll never make those kinds of people happy and that’s when you say, “I think it would be best if I gave you a refund. I’m sorry that you weren’t happy with the service. If there’s anything you can think of that would make it better, please let me know.” And, then when they send you an email detailing every single thing they hated like the fact that you’re website is teal and orange and they think the colors teal and orange are ugly, you delete it and move on.
3. Working every second of every day isn’t heroic. It’s foolish.
You’ll burn out, but worst of all, you’ll let down your friends and family. Your spouse shouldn’t suffer because you want to run a business. Of course, there will be days that you have to work late and weekends where you’ll need to bury yourself in your work. But, that should be the minority—not the majority—of the time.
4. Playing the loner card won’t get you far.
I was the student who dominated every group project in school, because I couldn’t trust that anybody else would do it as good I was would. {I know…what a jerk!} When I started my business, I thought I could do everything myself. I was wrong. At the very least, you need supporters and cheerleaders. You need to connect with others in your niche who will be in your corner. Otherwise, get ready for a very long and lonely ride to success, if you ever get there.
5. Low prices reflect poorly on your products and services.
When I see a beautiful necklace on Etsy priced at $8, I wonder, “What’s wrong with it? The chain is probably made from lead and will turn my neck green. And, that’s probably not a real emerald.” And, then I pass. Every time I’ve raised my prices, I’ve had MORE sales. That doesn’t mean you should just raise your prices for the heck of it. What you’re selling needs to be worth it, but if you think that your prices are too low or you’re not making much of a profit, you need let go of your discount mindset and up those prices!
Is there a business lesson you learned the hard way? Please share in the comments below.
I’ve learned to not say ‘No’ to the weird requests. I’ve made more money making a niche product than a mainstream one! And to never say ‘I’ll have it in the post by xxxx’ unless it’s ready to ship because odds are something will go wrong!
Definitely learning and still learning to value my own time and worth… something that is easy for me… doesn’t mean it’s not worth charging for!
I can relate to them all. I often spend evenings in the office whilst my hubby is sat alone. A lesson learned!
I’m in the beginning stages of starting my business and like Denise, I’m learning to say NO.
I always try to be helpful to everyone, but it’s completely impossible. I really need to consider how I want to work with people, when I’d like to work with them, and if it’s the best for the both of us.
I’ve said YES to projects only to regret it later. So, I’m really learning to step back and evaluate the opportunity before jumping head in!
The biggest lesson I seem to be learning and trying to get a grip on right now is how to get paid for everything I do and to not get sucked in by clients wanting way more than the scope of the original project while not paying any more money. I think it boils down to setting more specific expectations and having them laid out very boldly in the contract. Sometimes I feel like I’m dong way more work than I should be doing and not seeing much profit.
I find my prices are lower then the rest but I also can buy in bulk to sell at a lower price. But then I also find myself not getting paid enough because there are those people that request a ton more work for their custom design. Then I have customers that want a discount for their order that has a ton of custom work for 25 or more items and have to tell them I can’t because I am not a mass machine each one gets done by hand. Ok done venting LOL
I feel this post did hit home for me in all areas.
Hey Melissa! Thank you so much for sharing your experience. I’ve found from working with creative entrepreneurs that one of the biggest struggles they have is pricing their work. It’s definitely not an easy topic and there are many different opinions when it comes to pricing.
I’ve also found that way too many creatives price their products way too low to have a sustainable, long-term business that will continue to grow like they want it to and when they raise their prices, their businesses are much better off for it. And, 95% of the time, their sales actually increase which I think is a clear sign that prices do reflect on your brand.
We all make snap judgements according to price which has been proven time and time again in studies. For example, one study showed that people thought a cheap bottle of wine was much better when they were told that it cost a lot of money. And, they didn’t like an expensive wine when they were told that it was really inexpensive.
Plus, I believe that it’s important to price your products for success. If you’re not making a good enough profit to sustain your business and reach your business goals, is it worth it? Maybe as a hobby if you love it but it won’t work unless you charge what you need to in order to sustain things. And, many business owners don’t take into account how long it takes them to pick out and purchase supplies, photograph their products, write product descriptions, etc. Some don’t consider additional costs like needing to buy a new computer or camera, paying for hosting for their website, paying for web design, etc.
In my experience, low prices don’t work well, especially when the products are handmade. It seems to lead to burn out and disappointment more than anything else. But, I do appreciate your perspective! Thank you again for commenting!
SO loved this post and can totally relate to all those points.
One very big lesson I learned – just because I am good at something, does not mean I am supposed to actually do it. And – kinda related – just because it is something that people want, does not mean I have to offer it.
Now that I write that down it seems really like there is no question about those … but I was more than once in situations where I thought “But I should do this/take this opportunity/…” and it was hard to get to “No – “should” is never a good enough reason.
Thanks for this, I can totally relate to all of the points!
For myself, I had to learn that not everyone is as excited about my work as I am. For example, I often find myself going out of my way to schedule photo shoots and trying to accomodate my clients, while they prioritize other engagements for weeks on end. They booked me and I still feel I have to run after them so we can actually set up an appointment.
Also, managing my own expectations and continually reminding myself not to compare the amount of work I am able to do while still working a full time office job to others in my line of business who are able to do this full time.