Modish Biz Tips

7 things I've learned in my 8 years in business

Our wonderful guest contributor Caroline Devoy is normally our tax and money-related guru, but she's here today with a different sort of post that I think you'll really enjoy. She just celebrated the 8th year of her business, jcaroline creative!, and has been kind enough to reflect on the lessons she's learned along the way and pass some of those along to us. Take it away, Caroline!

{reflections : photo by Camil Tulcan}

Or "The things I have to remind myself everyday"

We just celebrated our 8th anniversary at jcaroline creative! and though I can't call the business an overwhelming financial success, it has survived eight years, which must say something. Though sometimes I wonder if it isn't a testament to my stubbornness more than my business acumen.

So, as I thought about where we've been in the last eight years, I came up with some themes that I need to keep reminding myself that might be helpful to you in your business, too.

1. Vendors can make or break your business

A vendor that rewards you with timely deliveries and a liberal credit line can mean the difference between your business having items to sell or not. Treat your vendors (especially your good ones) like they are your best friend because they are. Even the ones that are mediocre can usually be convinced to improve with a little sweet-talking. And don't forget to use your vendors as a strategic partner, if necessary. If you have an opportunity that could benefit both of you, discuss it with them and see how they could help.

2. Don't get upset about every little hiccup, because there will always be a hiccup

And if each one shuts you down mentally or emotionally for a day or two, you'll never survive.  Yes, some hiccups are huge and will give you pause. Just make sure you aren't over-reacting to the small ones.

3. Everything in business involves risk

Some you can avoid, but some you just have to manage. Think through the series of disasters that could occur and have some idea of how you will attack them as they arise. Then if the disasters occur, you'll be better prepared to address them. And don't forget rule #2.

4. Maintain some sort of work/life balance

Are you people pleaser?

I came across this quote today and thought it'd be a great one to share here:

Not everyone is going to like what we do, all the time. Not all my posts are going to engage all of you, all the time. Not all of your designs are going to be liked by everyone. Not all of the decisions we make are going to have the glowing support of everyone we know.

We all know this is true in the rational part of our minds- "Well sure, it'd be impossible to please everybody all the time, right?" Yet I think a lot of us can get caught up in the more emotional response of "but I still really want everyone to like me/agree with me/support me!"  And that's when we can get ourselves into a bit of a pickle.

Like Swope points out though in the quote above, one surefire way to fail is to try to please everyone all the time. That means that with success, there will be some unhappy clients and customers along the way or disgruntled blog readers. There will be people who you disappoint, people who will never agree, people who will try to thwart your success by tearing you down in some way. There will be people you just can't reach, that you just don't connect with. People that you just can't please.

Facing your Fears to Conquer your Goals

{photo by Celeste. That's one nasty cubicle monster!}

A few days ago, as I was checking out the 4-Hour Workweek book online per Amanda's recommendation, I stumbled upon the author, Tim Ferris', blog and this video of a speech he gave called The Practicality of Pessimism: Stoicism as a Productivity System. (It's only 5 min long if you want to check it out)

You may be thinking, wha? Pessimism can be productive? And that's what I thought too, which is what intrigued me to watch the video at all. In it, he draws from Stoicism's notion of "negative visualization" to ask, "could defining your fears be more important than defining your goals?"

I'm not sure it's more important per se, but I think it's definitely a necessary step along the way to achieving your goals. To really acknowledge and rationalize your fears can seem very daunting, I know. Many of us would rather high-tail it out of those negative thoughts and just play with a puppy instead.

But when you allow yourself to go there, into the pessimistic part of your brain that details all the worst case scenarios that your decisions may lead to, it may actually help.

It can help you find solutions to those horrible scenarios, it can help you realize that some of those fears may be completely un-realistic, it can help you see the logical steps you need to take to ensure the worse case scenarios don't happen.

What fears are holding you back from taking action on something important to you? How are you going to get past the fear of starting something new, quitting something, moving or making another big change?

As Tim suggests in the video, grab a sheet of paper and face your fears:

Making Time

{lost time print, by Lineanograta}

Ah time. It does escape me. I seem to always be searching and wishing for more, cursing my lack of it daily. I think that's a common occurence with many of us though. How often does the thought "I don't have time" enter your mind weekly? Daily?

I even find myself using my lack of time as an excuse (I didn't say a good one) to get out of taking care of myself well. "I would exercise/eat well/read a book/go outside/meet friends/go to the beach/etc but, I just don't have time!"

Is that really a valid statement, though?

On Wednesday, I had dinner with the lovely Betsy from Betsy & Iya and we were talking about the ups and downs of self-employment, the parts that fall short of our idealistic dreams and I mentioned how I really would love to get back into yoga again, but (say it with me class) I just don't have time.

Since I was 16, I've turned to yoga for exercise and balance- I know how much it helps ground me and keep me positive, but when I start to get really busy (aka: when I need grounding and balance the most) I tend to let go of my practice and get lost in work. And lost is a really good description of it. I have a daily sense of overwhelment and burden, I feel scatterbrained and always at the tipping point of burn-out. And I feel like I don't have time to do anything but work work work til the work is done, and that mindset eventually leads me into a semi-depressed state.

On lamenting about my past healthy and happy yoga filled days, Betsy told me about a show she watched on our local PBS station featuring some motivational speaker man (you know the types) who basically said: if you need time for something, make it.

Easy right?

Know Your Worth: Tips from Daily Worth & an Interview with the founder

Jan from Scoutie Girl & Daisy Janie introduced me to Daily Worth, "a free daily personal finance email for women. [They] deliver practical money tips, empowering ideas and the occasional kick in the pants."

That's their promise, and they sure do deliver. I immediately signed up for it and have looked forward to receiving it everyday since, and I know at least one other BIZtips reader (Laura!) looks forward to it too!

Here are some examples from Daily Worth emails to give you a sense of what they're like:

For a little more financial advice, I asked Daily Worth founder, Amanda Steinberg, for some tips specific to small business women like us:

Change is good

I'm busy busy trying to finish up some projects so I can have at least one day off this holiday weekend! ;) But I just wanted to leave you with a quick thought until we reconvene next Tuesday...

What can you change in your business?

Perhaps it's spring that finds many of us in the midst of change. I recently decided to change the focus of Modish a bit and after over 3 years of concentrating on one thing only, that's kind of a big deal for me. But it does feel good. Freeing and re-invigorating.

I've also gotten emails from people who have recently changed their business model somehow: one from a designer who decided to downsize her business to focus more on one-of-a-kind production and direct sales. One from a designer who has recently decided to incorporate more sustainable and earth-friendly materials into her work. One from a designer who is looking to expand her business into a new realm of growth through outsourcing some of her production. (Yep, I get lots of emails from designers! :)

I think sometimes it feels like changing our business model from what we had originally intended means we failed somehow. That we didn't do things according to plan. But what are plans really if not just catalysts for us to think about and prepare for the future?

Deviating from your original plan only means that you're adaptable and open to change. It means you're listening to yourself better, reevaluating often, taking into account your strengths and abilities and making them work the best they can for you, and ultimately for your business.

There's lots of us reevaluating, rethinking old models, reassessing our paths. What about you? What changes have you made in your business lately, or are you thinking of making? If you're feeling unhappy or just stagnant in some way, think about what you can change to encourage new growth and enthusiasm for your business (or business-to-be ;)