Starting a new business is exciting. The thrill of new opportunities, the enthusiasm of making connections and networking can be very captivating. Enjoy it! However, you must remember to resist the temptation to be impulsive. Running a business is like making music. As erroneous as this advice might seem, especially coming from a man who has no musical talent whatsoever, it is the most illustrative anecdote to what I wish to share with you all. A close examination of your day-to-day operations will reveal that there are trends in the tempo of your marketing techniques and procedures which are correlated with the acquisition of new clients and the recurrence of loyal clients. For example, after posting a new advertising promotion, you may acquire a few new clients. The more you do this, the more clients and projects you will acquire, the less you do so, the less new clients and project you acquire. Thus, you can effectively manipulate the rhythm of your business.
It is imperative that you are aware of your company rhythm and pay enough attention to monitor these trends as closely as possible. Submerging into the buzz of business operations could result in “oversaturation” to the point that you become overwhelmed. At this rate, you may find yourself in a position in which your business is controlling you rather than the contrary. For instance, an event planner that is new to the industry may find themselves completely “psyched” when they acquire a new venue to host events and parties. So, they start planning and promoting immediately to host a “simple” party in two weeks with a $10 cover charge in a venue that holds only 300 heads. Most venues require a 50% deposit, and with excitement of having savings for startup, the planner immediately invests and pays the $500 non-refundable deposit. Essentially, they are now locked in and committed to the event, but there are some major problems here: 1) a DJ will cost anywhere between $200-$3000, 2) having a designer design, print and ship flyers can range from $150-$1000, and 3) with a 500 person capacity you can only make $3000 at the event unless you profit from the bar. The capacity to profit is marginal at best in this situation, but your tasks and obligations are high and can result in a great deal of stress and anxiety – key ingredients for a breakdown and failure.
Needless to say, this is an undesireable experience for most business owners. Don’t let your business influence you in this manner. We all have goals and places to be in the end. But, life is not about the destination – it’s about the journey and the moments in between. Control you ops tempo so that you can slow down and make the best of these moments and enjoy life. No matter how reputable you become, don’t be such a megalomaniac that you can’t stay in touch with your own humanity that reaches out to the “you” within the business owner. Enjoy what you do. Plan ahead. And take your time to find the right rhythm for success. #MakeYourself