28 Takeaways From 28 Years Running My Own Business
This month begins my 29th year of running my own enterprise. As an anniversary gift to you, here are 28 applicable takeaways — one from each year I’ve piloted my own entrepreneurial ship.
It’s your show but it’s their dough. You and your product might be brilliant and amazing but that doesn’t obligate people to give you their money. We all work for other people’s money!
You are replaceable. In business, the word “unique” is misused as it means “having no like or equal.” By that definition, are you and what you do really unique? Strive to differentiate yourself while always remembering, you’re replaceable.
Save your money because there will be bad days.
Invest in that which builds your brand, makes you stronger, and ultimately makes you money.
People care about themselves so make your offering about them. In an era where everyone is telling you to “tell your story,” please remember: People only care about your story to the degree that it matters to them.
The confused customer doesn’t buy.
Personal happiness shouldn’t be dictated by business success, however, personal and professional satisfaction generally walk in lockstep.
Make it easy for customers to give you their money.
Know what you sell. It’s likely not your product but rather the result of your product.
Read. Read that which feeds your brain and makes you smarter. Read because it increases your vocabulary and breadth of knowledge. Read.
Realize time is all you have. How you invest your hours determines your success and fulfillment.
The ability to prioritize will dictate much of your success. Some stuff matters more than others while some things don’t matter at all.
Activity is not productivity. Being constantly “busy” doesn’t mean you’re productively building your business, it could just mean you’re busily hiding from what you should be doing.
Adaptability to an ever evolving marketplace is key to longevity. Ask the nearest TV repair man how business is doing.
Resilience is the most important character trait to success. It’s hard to beat the person who refuses to be knocked out.
If you’re doing it for free it should be for a charitable cause, self gratification, or to gain experience and expertise.
Take time to stare out the window, sit in quiet contemplation, turn off the noise and just think. Think about your business, your life, your shortcomings, your strengths, your future, and most importantly that which matters to you. Most people don’t think for themselves nor do they think much at all. It shows. Think.
Likewise, let your mind wander as it is good for creativity. Creativity spawns ideas, ideas spawn business.
However….ideas are useless without execution. So after your creative moment, go about the work of making your ideas valuable to others.
Write it down. Document what you’re thinking, creatively pondering, and planning on executing. Then go about doing it.
Be money-minded. People who say “I’m just not good with money” are really saying, “I’m just not good with being responsible.”
Establish, maintain, and nurture relationships. Most opportunities you will be presented with arise from other people.
Sever one-way, destructive, and toxic relationships. There are people who use you, worsen you, or even seek to destroy you. Cut them from your life and business immediately then don’t look back.
There will be resentment from those who call your success luck. Devote almost no attention to this distraction — you have more important things to do!
Not everyone will like you and that’s OK. When you stand for something or stand up for yourself, there are those who are turned off. So, you have a choice to make: stand for nothing and be superficially “liked” or stand for something and be respected.
Brains and talent are good assets but work ethic is more important.
Allowing a grade, test score, or bad experience from decades ago to dictate who and what you are today is a self-imposed handicap.
Know yourself and that will make things much easier. Know what motivates you but more importantly what doesn’t motivate you. Know your strengths but more importantly know your weaknesses. When you know yourself you can manage for optimum output but only if you’re honest with your self-assessment.
Hope you found some worthwhile nuggets of knowledge and inspiration here. Check out more of my articles, videos, podcasts, and connect with me on social media.
Damian Mason is a speaker, podcaster, farm owner, businessman, and the author of Do Business Better — Traits, Habits, and Actions to Help you Succeed. www.damianmason.com