Ultimate Guide: 10 Lessons Learned from My First Year of Business
If you’re thinking about launching your own online business or you’re still in those early, nerve-wracking stages, I’ve got some lessons to share.
These lessons might help you not to make the same mistakes that I did.
Lesson 1: Don’t Get Caught Up
Don’t get caught up in research, watching endless webinars or drown in information. Just start.
We all have You Tubers we admire, podcasts we listen to and blogs we love to read. Knowledge is power right? Here is the thing – there is such a thing as too much information. Different entrepreneurs have different tips and ways of doing things. Who do you listen to? Which things should you start doing? Do you need a website or not?
Reading about entrepreneurship and watching tutorials are great, but what good is it if you don’t take action? Some lessons can only be learnt from running a business and through hands-on experience. This is one of the biggest lessons I learned. Taking pages and pages of notes is not going to do anything if you don’t take action.
Take what information you have and start doing. You can always make changes as you go.
Lesson 2: Learn From Your Mistakes
Mistakes are going to happen, but that’s okay! Do you think there are any entrepreneurs who didn’t make mistakes along the way? Don’t think of them as failures, think of them as learning experiences.
Take a step back, analyze what went wrong and treat it as a growth opportunity. Every mistake you make brings you closer to perfecting your skills and creating a thriving online business.
Lesson 3: Know Your Skill Well
Understand your skills thoroughly. Your expertise isn’t just an added bonus—it’s the foundation of your entire business. You can have great customer service, deliver promptly and offer specials but what good is all this if your work is not up to par?
Getting the theory down is important, but you really start to see progress when you actually practice what you’ve learned with real projects or freelance gigs. For example, if you’re working on your web design skills, design websites for family, friends or local businesses.
Constructive criticism can help you see where you need to improve.
Lesson 4: Build Relationships
Building authentic relationships might not seem like a big deal at first but trust me, strong connections can make all the difference in your business.
Instead of just collecting names, focus on building sincere connections. Get to know people, show interest in what they are doing and be helpful whenever you can. Whether you’re giving advice, lending a hand, or just listening, real, genuine relationships are more likely to last and benefit both sides.
Build relationships with like-minded individuals who are on a similar journey. Starting a business can be lonely. Having a supportive network can provide motivation and practical advice when you are going through a difficult time in your business.
Social media is a great way to connect with people. Chat with your followers, join groups that matter to your niche and reply to comments. Share what you know and offer useful tips. You will build a strong community by staying active, providing value and being friendly.
Lesson 5: Comparison is the Thief of Joy
It’s easy to get caught up in what others are doing and measure your progress against theirs, especially in this day and age. You don’t see people’s setbacks and struggles, no one gets popular and achieves success overnight. What you do see are happy pictures, impressive outcomes and awesome testimonials on social media. Comparing yourself to this is unrealistic and will hinder your progress.
Everyone is unique and they might be in a different place in their business journey than you are. Comparing yourself to others will hold you back and give you mental stress.
Focus on your own strengths and unique selling points. Celebrate your achievements and small wins.
Lesson 6: Consistency is Key
It might sound simple, but consistency is crucial. When you consistently provide value and deliver your product/service, you build your customer’s trust and visibility.
Setting a regular schedule for content creation and marketing helps you stay focused and keeps you on track. This routine helps you with time management and ensures that all the important tasks are done.
Lesson 7: Keep Your Promise
Trust is the foundation of any strong business relationship. Keeping your word creates a positive experience with the customers.
By keeping your promises, you build customer loyalty and establish a group of repeat buyers who appreciate your dependability and service. Reliability and transparency can give you an edge over your competitors.
Would you do business with someone that never delivers on time or doesn’t keep their word?
Lesson 8: People Do Business with Those They Trust and Like
In a crowded online world, it’s easy to get lost in the mix. That’s where being likable makes a big difference. People are drawn to businesses and people they find relatable and friendly.
Whether it’s clear communication, delivering on your promises, providing exceptional customer service or engaging content, being approachable and genuine can really set you apart. When you’re likable, you build a connection that makes people more likely to choose you over the competition.
Building trust takes time; it’s not something that happens instantly. It’s all about consistently meeting or beating your customers’ expectations. Start by being honest and upfront about what you offer. Share your story, show what you stand for and let your expertise shine through.
Trust is built on reliability. Always strive to deliver high-quality products or services. Whether it’s fast shipping or going beyond expectations, showing that you are dependable helps solidify trust.
Providing real value to your customers makes them more likely to become loyal, repeat buyers. People are more likely to remember and connect with a business that has a unique personality and feels genuine, rather than one that comes off as robotic. Show the human side of your business—talk about your challenges, celebrate your successes, and be upfront about how things work. Being transparent shows you’re honest and that you really care about your customers.
Lesson 9: Be NICE
Friendly and respectful attitude goes a long way. Customers will remember how you made them feel.
We have all come across people who were rude, would we enjoy buying a product or service from them? A positive, approachable image can make your business more attractive to potential customers and partners. It helps build a reputation for being caring and reliable, which can set you apart from the competition.
Happy customers are loyal customers. When you’re nice and go the extra mile to make their experience pleasant, customers are more likely to return and recommend your business to others. Word of mouth is a powerful tool in business. When people talk about their experiences with your company, you want them to share positive stories.
Small gestures of kindness, like personalized thank-you notes or excellent customer service, can turn a one-time buyer into a repeat customer.
Being kind can open doors for you. People are more inclined to team up with or invest in someone they actually like and trust.
Lesson 10: Stay Informed
It’s important to stay on top of the latest trends, technology and tools in this fast-paced digital world. What’s popular today might be outdated tomorrow. Does anyone remember MySpace and AIM?
Being up to date with current trends not only keeps your skills relevant but also positions you as a knowledgeable professional in your niche. Technology is always changing fast and new tools are constantly emerging to make your life easier and your business more efficient. For example, advancements in AI can really change how businesses operate.
Staying informed isn’t a one-time deal; it’s something you need to keep up with regularly. Make learning a part of your daily or weekly routine to stay in the loop and ahead of the game. Subscribe to blogs, newsletters and read up on the latest trends in your field. They’re a great way to get insights and updates.
Everyone’s journey is different. Everyone makes mistakes. It’s how we handle it that matters. If you want to start a business, don’t let making mistakes stop you from achieving your dreams.
“There are only two mistakes one can make along the road to truth: not going all the way, and not starting.” – Buddha
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