business growth

Business Advice Only an Idiot Would Give You

If you’ve been in business for a while you know that you get a lot of advice, from a lot of people.  And not a lot of them are actually qualified to give you advice!

You know what I’m talking about, you’re at the family reunion and Aunt Sally asks, “So how’s that business of yours going?”  With that sympathetic/pained look on her face.  “Well you know, most businesses go under in the first few years so you better make sure you …”

Or you are at a networking meeting and “That Guy” that goes to every meeting and tries to make himself seem like the most important person in the meeting, but is oozing, “I’m flat broke” energy says to you, “I’m doing this great new thing.  It’s taking off like gangbusters.  You should absolutely stop doing (XYZ business strategy that takes work but is producing for you) and start doing (quick and easy get rich overnight scheme.)

Then there are your friends who have never run a business in their lives.  “I read in an article last week at the doctor’s office about how you can start a crowd funding campaign and earn like $500,000 to get your business going.  You should do that.  You would be so much less stressed!”

We don’t get too off track with that type of advice because it is so apparently naïve and ridiculous.  But then there is other advice that seems smarter at first glance.  It seems smart, and safe and can be some of the most dangerous advice to listen to. Here’s is some of the WORST advice I have gotten while being in business!

1. “You don’t have to do so much, just slow down and scale back so you won’t feel so stressed.” Slow down and be less stressed?  It sounds amazing right?  WRONG!  You are not stressed because you are in business, you are stressed because you are a member of the human race.  You felt stress before you started your business.  You will feel it while you are in business, and you will feel it long after you retire from your business. Often times stress comes when I am at that final push to finish a project, or reach a goal.  If I stop every time I get overwhelmed and stressed, I will never finish my race!  The good advice you need to give yourself during these moments is, “You can do this.  It is hard now, but it won’t be forever. You are so close.  All I’m asking for you to do is take it one day at a time.  And you’ve got this!  Let’s go baby!”
2. “You don’t need to hire someone to do that! I have a friend who can do that for free.”  I am all about controlling costs and being a good steward of my financial resources.  I love spending my money on things that will make me more money.  I hate wasting money.  However, free or cheap labor often times ends up generating cheap, low quality results.  I someone is willing to do your website for free, they are not building you a high quality site.  If they will do your headshots for free, they are not likely to be professional quality.  The one exception to this rule is interns who want to work in your industry and are dying for an opportunity.  Even that labor is not free.  You pay for it with your time you spend training them.
3. “You don’t need help with that. You can do that on your own.”  Hint: This one often comes from yourself.  The unwillingness to hire is one of the biggest hindrances to businesses.  If you are the perpetual solo-prenuer who must learn everything on your own, you will have a very hard time getting much past 6 figures.  Your business will max out because you can’t possibly work any harder.  You will get burnt out because you get tired of never being able to take a break.  I would never design my own website.  I am sure that I could.  It would be hard, it would take me a lot of time.  It probably wouldn’t look great when it was all said and done.  But none of those are the reason I wouldn’t do it.  I would NEVER design my own website, because in the months it would take me to build that website, I would lose out on hundreds of thousands of dollars in sales.  You must know where you are valuable to your company, and be willing to spend the majority of your time in those areas.

Trust me on these ones!  Save yourself the struggle and avoid my top 3 mistakes waiting to happen!  Be willing to get help!  Be willing to spend.  Choose to spend wisely.  Don’t try to do everything on your own!  My motto is, I am not Superwoman!  I don’t look good in spandex and I don’t want to do it all on my own.  I need help to make my business run.  That is not a sign of weakness, it is a strength that I recognize it.  You have tremendous potential in your business!  Avoid these common mistakes and you will thank me for it! http://amywalkerconsulting.com