As I sit down to reflect on the past ten years of building and growing my business, I am filled with a sense of pride and gratitude for the journey it has been. From humble beginnings to reaching significant milestones, the path to success has been marked by invaluable lessons that have shaped not only the trajectory of the business, Purple Giraffe but also my personal growth.
Here, I share five key insights gleaned from a decade in business.
Trusting Your Instincts
One of the most valuable lessons I’ve learned is to trust my instincts. In the fast-paced world of business and in particular marketing, there are often moments when you’re faced with tough decisions and limited information. In such situations, it’s easy to get caught up in your own head. However, I’ve found that more often than not, my gut feeling has steered me in the right direction.
Whether it’s making a strategic pivot, choosing an employee, or pursuing a new opportunity, trusting my instincts has been instrumental in navigating the uncertainties of entrepreneurship. At times my instincts have lead me wrong, but in the main my gut instincts have been right. Of course, this doesn’t mean ignoring data or rational thinking altogether, but rather, it’s about striking a balance between logic and intuition.
Believing in Yourself
Self-doubt is the silent killer of dreams. Over the years, I’ve come to realize the importance of believing in myself and my vision, especially during the inevitable setbacks and challenges that come with running a business. Building a successful business requires resilience, determination, a little bit of madness, and unwavering self-belief.
In moments of doubt, I’ve learned to draw strength from my past achievements, remind myself of the reasons why I started this journey in the first place, and surround myself with a supportive network of mentors and peers who believe in me. For me, I have been fortunate enough to have my number one supporter and chief cheerleader around the entire time, my husband. Confidence is contagious, and by believing in myself, I’ve been able to inspire confidence in others.
Getting Great People Around You
No business can thrive in isolation. Surrounding yourself with great people – talented individuals who share your values, complement your skills, and are passionate about your mission – is key to success. From hiring the right team members to fostering strong partnerships, building a network of talented and committed individuals has been crucial in achieving our goals.
I’ve learned to prioritize cultural fit and shared values over technical expertise alone when recruiting team members. Skills can be taught, but attitude and alignment with the company’s ethos are non-negotiable. Similarly, collaborating with like-minded entrepreneurs, mentors, and advisors has provided invaluable support, insights, and opportunities for growth.
Letting Go
As a founder, it can be tempting to micromanage every aspect of your business (I know because I have been, and some may say still do, do it). However, I’ve learned that true leadership is about empowering others to thrive and letting go of the need to control every outcome. Delegating responsibilities, trusting your team to do their best work, and providing them with the autonomy and resources they need to succeed are essential for scaling a business. Although still a work in progress for me, I’m working hard to let go.
Letting go doesn’t mean relinquishing responsibility entirely but rather, it’s about creating a culture of accountability, ownership, and continuous learning within the organisation. By empowering my team to take ownership of their projects, make decisions, and learn from both successes and failures, I’ve seen them grow and flourish – and in turn, propel the business forward.
Being Smart About Money
Finally, financial literacy is a cornerstone of business success. From bootstrapping in the early days to managing cash flow, budgeting, and making strategic investments as the business grows, being smart about money is essential for long-term sustainability and growth.
I’ve learned to prioritise profitability over vanity metrics, maintain a lean and agile approach to expenses, and seek out opportunities to optimize revenue streams and maximize returns on investment. Moreover, building a financial buffer and planning for contingencies has been crucial for weathering economic downturns and unforeseen challenges.
In conclusion, the past decade has been a remarkable journey of growth, learning, and evolution. Trusting my instincts, believing in myself, surrounding myself with great people, trying very hard to let go, and being smart about money have been instrumental in building a successful business that stands the test of time.
As I look ahead to the next chapter, I am excited about the opportunities and challenges that lie ahead, armed with the wisdom gained from a decade in business.
