I made plenty of mistakes in my first year of business. Business isn’t easy but it’s so incredibly worth it at the same time. It’s a roller coaster ride, like no other!
Here are some of my first year of business mistakes so you can do as I say and not as I do in your own business ๐
1. First Year of Business Mistake: Waiting Too Long to Spend Money
I was cautious with my spending when I was first getting started. I was willing to spend some money, but not a lot of money. I preferred to sign up for the free class, and then was annoyed when there wasn’t a ton of value provided in the free class. I bought the $27 or $150 courses, and got little nuggets of value from them but I wasn’t truly satisfied with the purchase and it was more a waste of time than money.
But when I finally, really invested it was a game changer. The first investment was around $1,000 (if I recall correctly) in a larger group coaching course, and the second was more than $3,000 in a small group coaching program that taught me how to coach, and I was terrified of each purchase! Was I making the right decision? Was I throwing money out the window? Would I make my money back? Were these programs going to be a waste of time like the $150 programs?
A year later, I can confidently say that you get what you pay for! I found incredible value in the higher tickets programs. It now seems so obvious to me, but as someone just starting out in business, it’s so hard to see.
Every coach, program and system I have invested in since as been valuable to me. They have each had different values, some were about networking, some were about learning, some were about figuring out who I am. But the return on every investment I have made has been valuable, even if that return was not monetary.
I highly encourage anyone who is starting out in business, to BUY THE THING! Don’t wait until…. There is no magic point in business where than you’ll feel it’s ok to invest. It’s always going to be scary, because the dollar amount only gets higher and higher the more successful you become. But if the investment is going to make you money, save you money or save you time…invest in it!
If you’re struggling with something in business, ask yourself, do you want to be in the same place next month or next year? If not, invest in the solution!
Related: The Mistake I Made Not Sharing My Story
2. First Year of Business Mistake: Staying Too Long with the Same Coach and Her Community
I found my first coach and loved everything about her program, and the community she created. I invested in her and bought several different programs and classes from her for several months. I learned a ton from her program. But there came a point where I needed to move on and break out of her bubble, especially when the client experience began to dwindle (or maybe wasn’t as authentic as I first thought).
I was no longer growing and felt like I was spinning my wheels. I felt safe in that bubble so I stayed. When really I should have been told, hey go find bigger bubbles! Thankfully, the fact I needed to move on eventually became very clear and I started to shop around for new coaches. I purchased one-off sessions with a few different coaches, and started to follow new people on Instagram and expand my network, and it was the best thing I did to continue to grow my business.
I eventually found two new coaches who specialize in different things and have completely different coaching styles, and I love them both! I invested big time in each of them and the value each of them has brought to my business has been completely different, and awesome in their own ways. And I’ll likely stick around both of their communities now for awhile!
You can absolutely invest in several programs or experiences with the same coach! Especially if you value what they bring to your business. We as coaches want you to stay with us forever! Of course! I love my clients and hate when they move on. But I can also recognize when it’s time. When I’ve taking them as far as my expertise and knowledge will take them, and it’s time for them to expand beyond me.
Hire coaches that see you, value your business and you as person (not a number), and will tell you when it’s time to move on to someone else.
Related: Always Be in the Room
3. First Year of Business Mistake: Not Creating Boundaries
I feel like business = boundaries. You can have one without the other, but do you really want to?! There were several occasions in my first year of business that I knew I was making a mistake by not setting a boundary. But I figured, whatever, it’ll be fine! It was not fine.
It was my own fault when I did not set clear boundaries and when I didn’t, I felt taking advantage of, unheard and undervalued. When I was clear with how things were going to be, everyone was else was clear. Everyone was satisfied and expectations were met on all sides of the business equation.
Set clear boundaries with your clients, and with your spouse, family and friends and it will save you worry, conflict and anxiety that truly wasn’t necessary in the first place.
4. First Year of Business Mistake: Not Realizing Just How Important Mindset AND Strategy are Needed
I hired my first coach because I wanted her to tell me how to put a payment button on my website. I was only interested in the strategy of business, the how! How do I do this or that! Tell me HOW!
I soon realized that your business strategy AND your mindset both go hand-in-hand in business.
I needed both to get through my first year of business. I finally had answers to some of my how questions, but still found myself struggling. I figured out how to have clients pay me, but my lack mindset was holding me back from having clients want to pay me.
It took me longer than I care to admit that I needed to work on my mindset just as hard as the strategy side of business. I thought I was doing the work. I was thinking positively so surely clients will come.
Wellllll, that’s not exactly what mindset work is all about.
It was when I started to write down what I had gratitude for each night, that my mindset shifted. It was when I started to meditate more regularly, that my mindset shifted. It was when I started to visualize my amazing future and journal more, that my mindset shifted.
Learn the how in your business, but don’t forget about your mindset. It’s equally as important. If you don’t truly believe in yourself and your business, knowing how to do won’t matter a bit!
Related: How a Puzzle Led Me to Starting My Coaching Business