Hi There! I’m going to give you the secret in the very first sentence and that is: there’s only one right way to run your business and that is your way!
You didn’t start a business to listen to a thousand buffoons instead of one. You started it to be your own boss not replace one boss with many.
I understand that it is hard to trust your judgment in the beginning and the imposter syndrome is real. But the solution to it is not to listen to all the myriad voices of fake gurus out there. It is to slowly carve out your own style. And yes sometimes you’ll make mistakes but those mistakes are the path, not obstacles on the path.
Any business is about give and take. You provide a product or service for something in return, usually money.
But if you let the market define what you can provide and how much and for what prices then that is almost like replacing one boss with many. That’s worse than a 9-5 job.
So instead start by defining your boundaries early on. Know very clearly what your priorities are, what are your income goals and what you are willing to sacrifice to attain those and what is completely non negotiable. This could be health, relationships, family.
There’s this famous “juggling 5 balls” concept coined by former Coca-Cola CEO Brian Dyson in a 1996 commencement speech at Georgia Tech. He described life as juggling work, family, health, friends, and spirit. Understanding the metaphor helps prioritize daily commitments.
Work according to him is the only rubber ball. If dropped, it will bounce back and afford you do-overs. Family, Health, Friends & Spirit are the four glass balls. If dropped, they will be irrevocably marked, damaged, or shattered.
He knew very well what his priorities are, do you? Have you defined how many hours you would want to work each week? How much can you compromise on your values? Let’s say you run an ads agency, would you make ads for a game that can get people addicted to gambling? There’s no right or wrong answer. It’s all about your personal moral judgement but if you haven’t thought about this then you’ll be at the whim of others.
Then instead of you owning the business, it starts owning you. And the more you give in the worse it will get in the long run. The more you work for a client who underpays the more of such clients you’ll receive from his referrals. Because those are the kind of people with whom he communes.
The more you’re absorbed in that, the more you’ll see the world as a place of exploitation. But it’s also true the other way around. High paying clients who appreciate you will usually refer to you people who will pay your worth and value your judgement.
I know it’s scary to try to do things your way, especially in the beginning but I want you to remember why did you start a business in the first place? Was it about freedom? Money? Desire to help others? Stick to it.
Because quoting the famous song by Survivor:
“So many times it happens too fast,
You trade your passion for glory
Don’t lose your grip on the dreams of the past
You must fight just to keep them alive
It’s the eye of the tiger…”
Don’t trade your truth, your passion for glory or fame or money because if you do then you’ll lose the very thing that fuels your spirit, you’ll lose “the eye of the tiger”. Instead show the world who’s the real boss of your life and business!
If you need further help turning your passion into your business or need a tool to map out your existing business to understand it better then check out our raison d’être and business trident canvas, for free from the TCV store.
And if you are someone on the fence about pursuing entrepreneurship or quitting your job check out our books “Before you quit your job” and “The Business Catalyst”. If they honestly — cross your heart — don’t help just shoot me an email and I’ll refund you.
Don’t hesitate to leave any questions or opinions in the comments below or email it straight to us. We always reply. Always here to catalyse your business and personal growth.
Peace and Love✌️❤️
Your Truly,
Krupal
Leave a Reply
You must be logged in to post a comment.