7 Reflections After 7 Years Strong and Counting: Ever wondered what a 7-year-old business looks like?
We tasked Midjourney with creating an image of a “7-year-old digital business,” and here’s what emerged. Surprisingly, it’s not too far from what I resembled at that age.
Here are seven reflections on the journey of starting and running a digital business:
Cashflow is King but Relationships reign Supreme: In the empire of many kingdoms, cashflow rules one but relationships are the empires currency. Building strong relationships takes time, especially when bootstrapping. Invest genuine time in people; it’s crucial.
Greater Success Demands Restraint and Focus: Niche Down. It’s easy to be lured by opportunities in the general market, but as grandma wisely said, “not everything that glitters is gold.” Define your audience and the problem you’re solving.
Competitors Aren’t the Biggest Threat: New Hires Are. I’ve lost more business to new hires than to competitors. Everybody loves the enthusiasm and new regime of a Marketing Manager despite the cost to the business. The fruit of doubt is usually division, as for me, I prefer multiplication.
Your Business Isn’t You: It doesn’t define your worth. Your confidence and endurance shouldn’t hinge solely on its success. If you fail, have the courage to try again.
Money Isn’t the Sole Motivator: Passion is key and evolves over time. Have a vision beyond monetary gain, and money will follow.
Remain Humble and Seek Wisdom: Learning from others’ failures and successes is invaluable. Don’t believe the myth that you must learn solely from experience; seek mentors and learn from them.
♂️ Have a ‘Step Away’ Strategy: Will your business thrive independently without you? Consider this from the outset. Like parenting, instil independence in your business early on.
What have you learned on your journey?
At My Heart Studio, we specialize in helping businesses connect with their customers online and strengthen their online presence.
Is your business strong? Let’s find out.