12 Best Business Lessons I’ve Learned So Far. After working in and around business for 5–6 Years, I’ve learnt countless lessons, Some I was thirled about others not so much. Non the less here is the list of the top lessons that stand out the most to me the most. I want to note I’ve got alot to learn and I change my mind all the time, with that in mind, I hope you take away something from these lessons.
Aneeqe A. Khan
Your idea is not original
If i had a dollar for every time, I came up with a groundbreaking business idea that is going to change the world. My name would be Jeff Bezos. The good thing is that the plan doesn’t have to be unique for it to be successful. It just has to be different. Apple wasn’t the first company to invent a portable music player.
You can’t do everything on your own
This one is close to home. It’s easy to think that you need to do everything. Assembling a team is crucial because there are only so many hours and abilities one person can dedicate to a business. Learn to let go and allow others to exercise their skills.
Passive income doesn’t exist
Yes & No. Of course, passive income exists but not the kind of passive income the internet gurus claim. “Watch this video till the end if you want to make $10,000.00 a week. & sign up to my course to learn more”. If it sounds too good to be true, it probably is. The only reason those guys make money; it’s because everyone is trying to escape “the hard yard.” Well, I hate to break it to you; there is no secret just hard work. If there were a secret people wouldn’t be just giving it away for $399.00.
You can build automated micro streams of income to support you for sure, but even that takes months or years of work. Here are a few examples of actual passive income:
- Automated Ecommerce
- Rental properties (given you have paid it off)
- Affiliate marketing
It would be best if you were an Excel GOD
Excel is fun! I know, I know! Please hear me out! Excel will help you organise incredible data. Excel not only makes this process incredibly fast but also reduces room for human errors.
You don’t need 73 mentors
Here is the fact, you will need mentors to help you understand the insights. However, you don’t need people to guide every aspect of your life. Leave a little room for innovation and making mistakes. I find people who religiously follow their “mentors” are just copying and pasting, which leaves no room for innovation.
Communication is key
I had to learn this the hard way. The truth is that we are all going to make mistakes; Some big that will cost thousands, and some may end with a little disappointment. Communication can prevent or fix almost any problem.
Note: If you are having complications with a project: running behind on due date or are unable to deliver what you promised. I find it’s best to be open with your communication and discuss possible solutions with your client.
Your friends are not going to support you.
It’s one of the biggest lessons I learned. Or as Frank Velasquez put it; People Won’t Come. The crazy thing is when you start a business; you’d think your friends will be the first people to support you. I mean they are always there to like you dog pictures. Here’s the thing whether it is a level of envy or just them playing spectator, whatever it is. I’ve learned that most of your friends will look the other way. Let me be precise i am not talking about all your friends. Some friends will support you every step of the way and even motivate you. We like those friends.
You don’t always have to agree with your business partner
My business partner Terrence and I argue all the time there is more we disagree on and than what we agree. Here is the thing, i find that we make a great team since we can bring a different point of view to the table.
You will be disappointed often, and you will fail often
No matter how much you know or how much you have planned, Failure will find you and you will be disappointed, but that’s okay you only have to succeed once. Will Smith puts it nicely.
“Failure is where all of the lessons are. So fail early, fail often and fail forward.”
You will have to work long days
The number-one lesson I’ve learned in my is that nothing beats hard work. There are not enough hours in a day to get everything done, so let me tell you a fun fact here: 8-hour workday sometimes can be more like 12 hour days.
Note: There is a difference between being busy and being productive. So 8-hour workday is more-less 4 hours of actual work and 4 hours of fluffing. I’ve been learning to catch myself whenever I am fluffing. It’s better to work for 4 hours and be productive.
Implement beautiful systems
I am excited about this one since this is one of my favourite topics, whether you are running your business or working for someone, implementing a few intelligent systems and tools will make operation more efficient and effective. Here is a list of few systems that i think will be of value to you:
Password manager: You will have many passwords on your hand. Password1 is not okay. I use Dashlane check it out here.
CRM: I can’t tell you how many problems a simple CRM can solve in a business. It will help close more sales, centralise communication and identify improvement areas. I’ve been using Hubspot. It’s an all in one solution and an intuitive system to use.
Last but not least, Enjoy!
Last but not least, Enjoy. I know it’s a cliché, but it is essential. The thing is we can all get caught up in extravagant business plans and the hustle, but let’s not forget work is a significant part of life. So it’s essential to enjoy life, whether you are at work or not save some room for laughter. Enjoy, I am going to leave you with the following quote:
There is little success where there is little laughter. — Andrew Carnegie
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