Do's & Don't's of starting a small business

The entrepreneurial gene was one the greatest gifts my father ever passed down to me. Ever since I can remember my dad he was an entrepreneur. I'd watch in amazement at this man who immigrated to Canada from Chile in 1978 without knowing one word of English and let nothing stand in his way of success. He'd tell me stories about how he taught himself to read English by reading the dictionary. So naturally it was in my DNA when In December of 2018 I decided to open an optical store in Mississauga with a business partner. Which in hindsight wasn't the best idea but I was 10000% dedicated & determined to succeed. Like many new businesses we were met with challenges. They weren't always easy to navigate but we always seemed to pull through. Being that my business was so new, when COVID-19 hit I knew in the pit of my stomach what the ultimate fate would be. I did everything thing I could possibly do to save my business but in the end it just wasn't enough. Of all the lessons learned, the greatest was going into business with a friend. It's been a tough lesson to learn but one well worth it. My parents taught me many things. Some stuck with me and others didn't. These are some of the lesson's I had to learn along the way, the hard way!

So here's my advice to those thinking about starting a new business.

1. Don't go into business with a partner. Family is the exception, and even still it can be a huge risk. If you can do it on your own, do it! I'm not saying it'll be easy or that the journey will be rainbows and sparkles. What I'm saying is that you must have the confidence and belief in yourself and what you bring to the table. If you do decide to go into business with a partner make sure, and I cannot stress the importance of this more that this to get everything in writing and notarized by a lawyer before signing any lease agreements. No one plans for failure but you'll want to have an exit strategy that protects all parties involved and makes sure that all bases are covered. This is one lesson that ultimately cost me my business.

2. Don't treat your business as a SOCIAL EXPERIMENT. When building a business, your Instagram, Facebook, Twitter or whatever social media platform you are using, should not be used as a mingling/dating site. Things should always be keep at the highest of professional levels. And that includes responding to messages or emails during working business hours. You don't want to send the wrong the message when responding to a message at 11pm. I get that even when a customer messages late at night you want to respond quickly, however messaging during business hours not only are you subtly establishing your boundaries, but your professionalism will stand out above all. Getting too comfortable or involved with potential clients or reps in your industry is definitely frowned upon and not only will people be talking about you behind your back but you'll be labeled as that chick who... Your professional reputation should always be paramount above your personal. This is not a good look and may eventually come back to bite you in the ass. My mother always said "You're guilty by association" and what she meant by that was even if you're not doing it, the simple fact that you continue to associate with people that do, you're just as guilty them and people will think you also operate like that. I had to drop so many friends along the way because of this. Which is why my circle is kept small.

3. Be prepared for long, long, very long days and nights and weekends. Basically be prepared to work your little butt off. No sick days, vacations or weekends off. At least not in the first year. You should be obsessed with your business. Eat, sleep, breathe your business. You get the idea!

4. Invest in a good social media plan. There will be a lot of start up expenses in the first few months and investing in building your brand is one expense that should not be overlooked. If you're looking for budget friendly then Freelance maybe the way to go. And what's better than supporting local. Plus you'll want someone who knows the in's and out's of how to navigate the social media and marketing world. A Social Media manager will keep you on track and ensure your brand is consistent and flows and reaches your target audience.

5. Having a thick skin helps. Be prepared to be known as the " the bitch" or "the bad guy" Criticisms or unsolicited advice will be inevitable. Everyone will be watching for your success, or failure, especially those hater's. Yeah I see you watching 😉... Don't be afraid to assert yourself or afraid of confrontation, and stop caring what people will think. So don't take things personally. Let it all go in one ear and out the other. If you want your business to succeed, you'll want to develop that thick skin ASAP. I'm all about kindness, but also don't take anyone's shit!

6. Don't be afraid to ask for help or advice. Especially if you have friends who own a business already. They are a gold mine for information when it comes to the in's and out of entrepreneurial life. Which brings me to my next point.

7. DO NOT seek out referrals for help with your business from social media. It's ok to scroll through your Instagram feed when looking for the newest restaurant, nail tech, salon, or lash extensions, etc., however when it comes to setting up your business you do not want to reach out for example to a lawyer via Instagram. Referral by word of mouth has always been the way to go for me and it hasn't disappointed me yet. This is how I met my real estate agent. She was referred to me by a very good friend and co-worker. She is the sweetest and most knowledgable in the industry. She is the kind of person that goes above and beyond for her clients and these days that's hard to find.

8. Being a woman is hard enough, but being a business woman in a man's world is even more challenging. This is one I did not see coming. At first I chalked it up to we were inexperienced being first time business owners and that's why things were harder and we need to prove ourselves. But as the months went on my disappointment became greater day by day. The challenges we had to overcome were unreal and I couldn't believe that still in today's day we are still facing challenges like this as women. From opening up a bank account, to potential clients, we just weren't taken seriously. If there’s one piece of advice that I could give to other women, it is to believe in yourself and what you bring to the table. You have the POWER to do whatever it is you want to do. Go do it. Speak up! Don't be afraid to assert yourself and let anything or anyone stand in the way! And for those mommy entrepreneurs balancing work and mom life you can 100% most certainly do it. Having a support network to back you up will definitely make things easier, so my advice is get working on the list because you'll need them when things take off.

9. Listen to what your gut tells you. Don't ever ignore those signs. They are trying to tell you this isn't how its supposed to be or how it's supposed to go! Women have the ability to be intuitive and although some might think it could interfere in making a decision, it is more often than not a gift. Believe me intuition has saved me from making many bad decisions.

10. BE SKEPTICAL. Question everything and everyone. The best piece of advice I ever received was, treat everyone as if they're guilty and it's up to them to prove their innocence or worthiness to you. This will help keep the sharks at bay and the real ones that ride for you on your squad. Remember, not everyone needs a seat at your table.

11. Chase your passion and not the money. And with that said, be prepared to make zero or next to nothing the first year of business. Of course the ultimate goal is to make money. Why else would we have gone into business right? Do don't expect to make crazy amounts in the first couple of years while trying to establish yourself. More importantly make sure to set aside savings to fall back on should things get financially tough. As long as the bills and overhead expenses are being paid, you'll be fine.

12. Believe in your product, and promote it as such but don't think too highly of it. You need to prove yourself first and that you can deliver the product or service. Who are you in this entrepreneurial world just starting out to make any demands? This will be how you build a network of loyal clients and ultimately build your business' success.

13. REPUTATION IS EVERYTHING and crucial to your success. In order for you to stand out from your competition, you're going to need to do things differently. So get comfortable with going above & beyond for your customers. Offering a service like delivery, or having coffee & snacks available for your clients when they stop by, or a loyalty program are great ways to stand out and customers in the door, but it will ultimately be up to you and how you present yourself. You don't want to come off of as a shyster or too pushy. Car salesman tactics are a thing of the past and quite frankly repulsive. You'll put off more people than you think. Your Customers or potential clients won't tell you, but they will tell their friends, family, and co-workers, and you'll be left wondering why aren't I getting any sales. This is an area we constantly struggled with my business partner and I. While my approach was more relaxed and friendly. I treated everyone like they were family, that was just who I was, she had the impression that putting on a show was what they wanted. She'd often go on about her "High Maintenance" clients, and how she'd have to bend over backwards for them. Which is why, and I can't stress the importance more that reputation is everything! Just be you, your authentic true self. People will love you for who are vs hate you for coming off as fake.

Some of this might hit home for you, and some of it may not. They are my personal experiences and challenges I've dealt with in my entrepreneurial journey that I wanted to share. If I can prevent someone from making the same mistakes I made, or encourage them to push harder then my work here is done. Anyone can claim to be an entrepreneur, but it'll be your heart & hustle and authenticity that'll set you aside from those that aren't serious about the entrepreneurial life. Make sure you do the research. You'll need to write a detailed business plan that includes statistics like your demographic, projected sales, and expenses, etc. If you're looking to start a business and just not sure where to start, I would be more than happy to help in any capacity I can or answer any questions you might have. If I can help get you started in the right direction, your success is all the thanks I need.

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