Things ive learned/discovered
It can get lonely
Entrepreneurship is a lonely calling. I opened BA Global Capital in the midst of the pandemic. For context before work from home i was on the trade floor at Merrill 100 other peers just in my section. and everyday i interacted with no less than 20 colleagues. Compared to now I might speak to 10 people a week and its mostly by email.
The lesson i take from this is to be more proactive in your friendships its important to prioritize time within a busy schedule to link with people you care about and who care about you. As providers of financial wellness to our clients we alway make sure to emphasize doing things that are not only good for your pockets but good for your mental disposition as well.
Everything is going to take more time than you think it will
Literally everything. Registration setting up the tech stack not just because of the human factor but also because of the learning curve. Even if you have the skills to do the job you want to set up. You still have to learn everything about the process of setting up. From how to organize your payroll to how to onboard your clients into your new systems. And all that isnt even talking about the client aspect. Some clients can have everything set up within 2 weeks but with some clients it might take 2 months. Scheduling conflicts technology issues etc.
What ive learned is plan ahead plan for delays and budget accordingly. As a solo entrepreneur you alone know what you need in order to run your business and run your life. Just like we encourage individuals to have an emergency fund its important for you to have contingent funds to cover any shortfalls. Also don’t start counting your money until it’s in the actual bank.
The Fuckups are on you. YOU
Owning a small business means all compound fuck ups are on you and are your responsibility no matter who shit the bed. I launched the website for my business officially in february of 2022 i didnt discover until october that emails from potential clients were going into my email that i had used to create the website not the one registered to my business. Ended up missing out on a half a dozen or so clients just because of slight email error. In response to this i decided to start randomly stress testing the functions in various operations on a weekly basis but I also learned a valuable lesson. You gotta remember to listen to your clients or potential clients. People that want to work with you will point out discrepancies or impediments that have stopped them from working with you. Its your job to reasonably remove whatever friction that is.
Freedom is a blessing but discipline is a choice
There will be times when you have to much to do and times when you will have no idea what to do. People ask me all the time these days how im doing and the truth is somedays i have too much to do and on the other days i dont know what to do. Thats the thing you dont know what you dont know and some days all you have is a vision of what you think you want to accomplish and its your job to figure out and take the steps to make that a reality, but theres no roadmap especially since what works for someone else might not work for you. Everyday I try and ask myself what can I get done today. it takes away from the things i might perceive as distractions and lets me get to the actual task that need to be done.
Finally most people won’t see 90% of the work that you put in to make your business successful so don’t take it personal.
It’s discouraging when peers lovers and older figures in your life downplay your business I get it. People you know who could use your service won’t reach out. People will reach out and ghost you mid-process. Your friends probably won’t promote you like you think they should at times. You’ll have people who you’ve known and trusted for years choose your competitors over you.and i know this sentiment has been echoed before but as a black person it seems like you have to be twice as capable to get half the looks.
Dont focus on none of that. Focus on the people who do show love and promote without you asking. Consider the wisdom that maybe something in the universe is saying don’t mix your friendship with your business or maybe this just isnt the right time and itll pave the way for an opportunity in the future. What im saying is dont take it personal.