As I type this, I’m in month one of a side, niche business I’m beginning with my Mister. It’s been an interesting and fun experience. NOT having to bootstrap every single aspect this go-round has been nice. Having a partner has made it more fun. Not DESPERATELY NEEDING it to produce a full time income right away — like last time — has been really great. =) Anyway, it’s led me to reflect on month one of THIS business… of MY OWN business journey. Here’s a list of mistakes I made in month one of my business, but first here’s what I did RIGHT:
I relied on invitation marketing.
Out of necessity, having no budget to advertise, and desperate for money, I created the most direct route possible between me and my prospects. I made a list of prospects, drew up a quick one page letter and followed up on each prospect via phone. I invited EACH into a conversation with me about what I may be able to do for them. Sexy? Nope. Effective. OH YES. I still rely on invitation, DIRECT RESPONSE marketing to this day. Want to find new clients or patients? Invite them. Want to fill an event? Invites. Want to fill a membership program? You guessed it… invites. Forget all of this “get your name out there” crap. Make a hit list (great article about hit lists can be found here) and INVITE each on your list to take the next step with you.
I ruthlessly protected my time.
I needed a full time income and I had infants and toddlers under foot and NO REGULAR SITTER. I had so little time to work that I had to ruthlessly protect each minute I did have. This is a habit I continue to this day as I realize that my income is — as Dan Kennedy says — connected to how ruthlessly and how unapologetically I protect my time.
But I think this is where the “things I did right list” ends. Here’s a very abbreviated list of the mistakes I made in Month ONE of Michelle Pippin, Inc.:
My Fees Were Too Cheap
I was desperate for a yes and so I undercut my profit. A very common mistake and — unfortunately — one that people carry into YEARS and YEARS and DECADES of business. I tried to compete on price, and this is always a bad mistake. (Live by price, die by price.)
I Did NOT Follow My Passion
16 years ago, I honestly thought the whole “make a living off of what you love” coach market was FULL. It sounds funny now. But, then… there was ONE site that focused on people doing what I was doing… quitting full time jobs and somehow making a living on their own. I pined away in regret. I felt like I had “missed the boat” and kept doing work I didn’t love. Big mistake.
I Didn’t Embrace My Own Success
I never celebrated replacing my previous full time income. (We were still only making ends meet.) I didn’t celebrate or make a copy of my first self-bossing paycheck. I didn’t know that my first year in business was a HUGE success compared to most standards, and so I didn’t embrace it.
I Apologized For Being a Self-Bosser and Tried to Make Up for It
I didn’t think amazing moms worked. As a result, I “hid” my working mom status from my kids. I worked when they slept and when they napped. Eventually, when they were old enough to be left for a couple hours at a time, I apologized profusely for “having” to work. There’s more I could say about this, but business-wise, it kept me from OWNING my business. It kept me from romancing my business, from having fun with it, from going BIG. Now, eventually, I embraced my work-at-home-mom status… but in those beginning months and years, not so much.
I know there are more mistakes I made, for sure, but those are the first four that came to mind. What about YOU? Do you have any mistakes you can share from those early days in business? If so, put your thoughts in a comment below.
