Top 5 lessons from our first year in business
It’s the end of our first calendar year in business and I wanted to take the time to reflect on what we’ve learned. If this helps other design or marketing entrepreneurs who may be thinking about taking the leap or are in the early years of their journey, then even better.
Ever since I can remember, I’ve had the entrepreneurial bug.
In the 3rd grade, I started an “earth savers club” with my friends and we would go to the local pond and pick up trash (clearly we were not the popular kids in school).
Fast forward to a few years after college, I founded Yoga for Humanity which used yoga and wellness to raise awareness about environmental sustainability. Then I realized what I really loved working on was YFH’s brand and website strategy more so than other operations.
About five years later while I was working at Harvard, and I attempted to strike out on my own as a digital marketing consultant in a partnership with my friend Sandra. We were going to start a marketing consultancy/co-working space called Gather. Those plans were put on hold when I received the opportunity to take on a bigger opportunity as the director of communications for Harvard admissions and financial aid and lead the 2-year redesign project for the Harvard College website.
Then, FINALLY, once the website was successfully launched and I knew my team was in a solid place, I made the leap to start V&Co. *Keep in mind this was 13 years after graduating college.
Clearly, it was a lifelong dream that I just couldn’t shake. And now, I can proudly say that 2022 has been our first full year in business. (I registered the company in November of 2020 when I was still running it as a side-hustle, then left my full-time job at Harvard in July of 2021).
In our first year of business, there have been some major lessons - not all easily learned. For my fellow entrepreneurs, those still working on their idea on the side or in the early years of running your business, I wanted to share the biggest learnings in hopes that they can help you or give you a sense of camaraderie. I’d also love to hear if you have your own lessons to add to this list.
Happy clients are your best marketing tool. Ok, I know this sounds strange coming from a marketer, but hear me out. In the brand and web design community, I’ve found that there is so much talk about clever marketing strategies to get leads and clients. Whether it’s freebies or mini courses, it’s all about generating content.
But for us, while we invested a little time in the basics like social media content for Instagram, getting listed in some great directories, and setting up a free resource (check out the Website Planning Guide), nothing compares to doing good work and cultivating good relationships when it comes to getting new business. This past year, about two thirds of our leads came from client or industry referrals. For new designers or entrepreneurs, focus on providing a valuable, trustworthy, collaborative service to your clients, and success will follow.
Your mindset is your most important asset. In the unpredictable world of entrepreneurship, I think what dictates your success is often your mindset above anything else. Focusing on cultivating a mindset of dedication, commitment, and learning has been so critical to riding the ups and downs of this first year. This is true on the days when you’re seriously doubting yourself as well as the days when you’re on a high from a big win.
Invest in yourself and your education. This past year, I’ve signed up for at least three courses and joined a few select groups that have boosted my business in ways I couldn’t have imagined. I followed my curiosity and - when I had enough extra profit in the bank - invested in trainings in brand strategy, Shopify design and development, and even dabbled in a little graphic design. Not only has the course material given me a much stronger skillset, the connections I’ve made through these courses have become such great support systems which are so critical in these early years in business. I have to give a shout out to Rache of Standout Squarespace and Standout Shopify for creating unbelievably valuable content and being so generous with her knowledge and time. (If you’re considering a Squarespace or Shopify design & development course, I highly recommend her!).
Ask for help so you can stay in your zone of genius. Ok, this is a work in progress for me. But this past year, I found that when I thoughtfully delegated some key tasks, it exponentially helped my business grow. As a classic Virgo perfectionist, I was worried about having other people step in and take over work like certain design requests or website content or maintenance. But I found that when I hired the right people, we could collaborate and provide even more creative solutions for our clients. Plus, I was able to focus more in my zone of genius which is brand and website strategy. And I truly felt that the best part of business was hiring talented people and watching them thrive.
Don’t be afraid to make mistakes. Probably the biggest lesson of all has been to simply try. I’ve pivoted a lot from positioning myself as a digital & social media strategist to a Squarespace web designer to a brand strategist. All of these are related, but I had to see which area felt most energizing to me and what had the most potential for the future. The fear of failure no longer paralyzes me. I simply approach every new opportunity with an experimental mindset. Whatever happens, I’ll learn from it and I trust myself to be guided in the right direction - for the business and for myself.
Does any of this resonate with you? Fellow fresh entrepreneurs, do you have any other major lessons from your early years in business? Drop me a line at hello [@] victoriaandco.digital and share your thoughts.
