Probably the most costly mistake I’ve made in business
This has to be the most costly mistake I’ve made in business.
Letting outside influences sway me from the path that was right for me.
There was no one instance, but a combination of direct advice and the influences around me, what I was seeing other people do.
And it has cost me so much in terms of time, effort and money over the years.
But it has also been a great gift, as I’ve learned so much through that experience that I probably wouldn’t have otherwise.
I alluded to one event that influenced the way I thought about my business in my last email.
(In case you missed that email, you can read it here: https://louisebeattie.ck.page/posts/be-careful-who-you-listen-to)
Here’s what happened...
When I had my photography business I used to enter business awards as a way of honing my business skills and getting feedback to make mine better.
This one time, it was my turn with the judging panel, so I did my presentation and then it was time for the Q&A.
They were all “proper” businessmen. One of them owned and ran a food brand that you will know if you are in the UK.
Just about the only thing that I remember from that night was one of the judging panel in a very expensive suit saying “…but it’s just a lifestyle business and it will never be anything more than that.”
I felt so small, so insignificant, like my business was not valid, even though it was steadily growing and giving me what I wanted. Even though it had a huge impact on my clients.
Those words hurt so much. They changed the way I thought about that business, and my current business, for a long time.
I felt like a lifestyle business was something to be ashamed of, so I was trying to create something bigger, that didn’t fit with my goals for the kind of life that I wanted.
It’s taken me over 10 years to realise that a lifestyle business is just as worthy as a so-called proper business with premises, employees and all that comes with that territory.
Lifestyle business is not a dirty word.
For a long time, I was chasing a dream that wasn’t my own but one that was how I thought my business should be because of what I was seeing around me.
It took me in a direction that ultimately felt wrong, and so I would find ways to procrastinate and avoid doing what I needed to do to grow the business.
It took me a long time, but now I LOVE my business, it gives me the lifestyle that I want.
I don’t want a so-called “proper” business, I want to enjoy a good independent income with a business of one, doing the things I enjoy whilst being able to live my life how I want to.
If it’s a nice day and I want to meet up with some neighbours to take the dogs out for an extra walk, I can.
Want to go visit my family at the other end of the country? Perfect. I can keep on top of business whilst I’m there.
I get to choose how big I grow it, how many hours I work, how much money I generate.
That’s my idea of a perfect business…
And knowing what your perfect business will look like is one of the most important things that you can do for your business.
Because if you are not careful, you could end up creating a business that is more demanding than any job that you might want to escape from (and in too many cases pays less).
Don’t make the mistake that I made, get clear on exactly how you want your business to support you and your goals.
I give my clients a powerful to help with this - it’s called the Business GPS.
Let me know if you want a copy…
Until next time, take care
Louise