As I type, We Are Tabono is one year and two weeks old, and we’re so delighted to have reached this point in our journey. So in this post, we would like to share with you some of the things we learned during our first year in business.
It’s so important to take time out to reflect on what has gone by. Your past is, of course, the foundations upon which you build a future.
The past is where you learned the lesson. The future is where you apply the lesson.Unknown.
Lessons learned from our first year.
When you run a business, it’s crucial to reflect on where you have been. And what that means for where you’re heading. So what have we learned from our first year in business? What advice would we give to anyone who is yet to reach the 12 month mark, or even start up in the first place?
Make sure you have a plan…. Luckily, I have a lot of experience in these things, so having a business plan was a given for us. But it was the experience of writing a plan for my own business, rather than for others’, that really hammered this point home.
… But remember that plans change! Your business won’t stay still. That’s a fact. And you have to be prepared to keep up with it. Some things in your plan might simply not work. Others might need tweaking a bit. But likewise, a fantastic opportunity that you hadn’t even considered, might present itself.
Get control of your finances. This is crucial. You need to know where your money is going, and the return on that investment. A good accountant is also crucial – choose one that you’re comfortable with and of whom you feel you can ask questions. But don’t just delegate the responsibility for this to them, and then put your head firmly in the sand. You really need to make sure you know exactly where you’re at so that you’re able to remain in control.
Get out of that comfort zone! The buck stops with you as a business owner. There’s no denying that. But to make the most of every opportunity, you have to put yourself out there. You need to be brave, be prepared to make mistakes, to learn and try new things, and to stand up and be counted.
Enjoy the rollercoaster! This is exactly what it is. A rollercoaster. Especially in your first year of business. There will be huge ups – like your first sale, or when someone noteworthy shows an interest, or better yet, provides an endorsement of your idea. But there will be downs too. But both are equally valuable to your ongoing growth and development.
Over to you.
Now it’s over to you! Do you follow a regular review/reflect and planning pattern in your business? Do you find it helpful? If not, and you need a little support in this area, we can help! We run a range of workshops on both business planning and vision and goal-setting – check them out over on our Events page!
And if you already run a business, what were the biggest lessons you learned during your first year in business? We would love to hear about them!