What I've Learned After 6 Years In Business
Today marks 6 years in business for my company! This business started as a stationery company and over the past 6 years has turned into what it is today. It wasn’t my original intention to be doing exactly what I am doing right now. But let me tell you, I wouldn’t change a thing, or change the journey I took to get here! I wanted to share some things I’ve learned throughout my 6 years as a business owner. Let me start this off by saying, I am by no means an expert. But maybe some things I am going to touch on will let you feel a little bit more at ease when you realize, none of us have this figured out!
Here are some things I've learned…
It doesn't happen overnight
When you set out to start your business, you want to see that overnight success. And it can be a little defeating when it seems like you’re working overtime with no immediate success. Maybe you’ve recently seen a brand pop up and it seems they have become an overnight success. Let me say, there’s really no such thing. Sure, it may appear that way, but behind every business is a person who started with an idea and put the plans in motion to make it happen. For some, it may happen quicker than others, but you’re playing the long game here. You’re running a marathon, not a sprint! Keep that in mind.
You may have to pivot from your original goals
Like I said, this business started out as a stationery company. For many years I hustled by designing a line of stationery, created new products, worked tirelessly at markets to get my product out there, got my line into retail stores across Canada, collaborated with other individuals, ran giveaways, invested a lot, made products that failed, made products that were a huge success, had my products featured by Jillian Harris, Fraîche Living, Breakfast Television, Women’s World Magazine, Life & Style Magazine, POPSUGAR, Celebuzz!, Stationery Trends, Paper Crave, and more. I made some huge accomplishments that I am very proud of, but I did have to pivot. I decided to pivot for a few reasons.
1. My design business was growing at a faster rate, which meant it was getting hard to balance both sides of my business.
2. I started the business for my mom by creating art prints that were her favourite verses and song lyrics during her journey with cancer. I also donated a portion of the proceeds to The Canadian Cancer Society. It was a venture we were doing together, but when she passed away in 2019, it was harder to go on without my inspiration, motivator and cheerleader there by my side.
3. I had to take a look at what part of my business was going to give my the highest rate of success, and it was my design business. I also found a deep passion for helping businesses achieve their own success through strategic and beautiful branding that connects with their audience.So, while my business may look different from when I first started, I am so happy with where it is now! Pivoting was the best choice for me and my company.
Ask for help when needed.
You will know when it’s time. Often as business owners, we like to have our hand in everything, and it’s hard to ask others for help. But trust me, there are so many resources and people willing to come alongside you and provide help. You will know when it’s the right time for your business. I recently added some team members to V&CO to help with illustration, web development, web design, social media management, sign design and installation. I know that I am better when I have support. I will be better for my clients, which is the ultimate goal!
You will have to wear a lot of "hats".
When I started my business, I just wanted to create pretty stationery. Little did I know, I’d have to become the accountant, salesperson, product developer, designer, inventory manager, brand manager, product packager, social media manager, web designer, customer service representative, photographer, CEO, and much much more. Being a business owner is not for the faint of heart. It requires a lot of work, but I am glad that I truly have enjoyed every aspect.
"They" say it takes 3 to 5 years to build a business… "They" are right.
You know the elusive “they” who says it takes 3 to 5 years to build a business? Who are these people? Well, whoever they are… they’re pretty darn right. I started seeing more steady and trackable success and income between the years 3 and 5. Some people see this sooner, but for me and my business, I found that by the 3rd year I had a better grasp of what I was doing and had better systems in place. I was pretty young when I started my business with no previous experience. I was just a 22 year old girl fresh out of college eager to take on the world. But it took a lot of fails and mis-steps to get to where I am now in year 6.
People will give you lots of opinions and advice. Listen to yourself first. You know what's right for you and your business.
I wish I listened to myself more in the beginning. Far too often I was listening to every outside voice. Voices that would say “make this product”, “offer this service”, “this product needs to be on the market”, “this product is going to fly off the shelves”… etc. I found that when I listened to those voices and made those products, those people didn’t even buy them! People will give lots of opinions and advice when it’s not their money, brand or reputation on the line. Keep in mind that you know what’s right for you and your business. Listen to yourself before you take on the opinions and free/unsolicited advice from others!
You are worthy of charging what your services are worth.
I must admit, I’m guilty of undervaluing my services. For many years I would undervalue my services so that I could book every job that came my way. And what I was left with was essentially being overworked and underpaid. I found that when I valued my services at what they are worth, I had such better experiences working with clients who actually valued my expertise. As designers, we invest a lot in education and learning (because this industry is always changing and evolving), software programs, research, and so much more. We have a lot of value to bring to the table, and the problems we solve with design can help businesses achieve ground-breaking success.
It will be one of the best things you ever do!
Through all the challenges and ups and downs, I wouldn’t change it for anything! Creating this business, working for myself, and working with other passionate business owners is one of the best decisions I have ever made. I am so blessed and thankful to absolutely love what I do every single day. So make that leap! You will learn a lot, you will grow, and you will be thankful you get to do what you love.
Thank you to everyone who has been around for these past 6 years and to those that are just joining in on this journey. We have got lots more to achieve over the years, and I am glad you are along for the ride!
