10 Things I’ve Learned About Running a Business in 10 Years

 

10 Things I’ve Learned About Running a Business in 10 Years

Although I’ve been a landlord for nearly two decades, ten years ago I decided to make property my full-time career and run it as a business.

 

Today marks ten years since my property business became incorporated. 🔟🥳🎊🎉🙌🎂

 

Here’s some lessons learned, which I hope will be of benefit to you!

 

Enjoy! X

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10 Things I’ve Learned About Running a Business in 10 Years

 

1.    Be a person of integrity

In a world full of Billy Bullshitters, it’s refreshing change if you’re open, honest, polite, pleasant, and most of all, if you do what you say you’re going to do.

Because believe it or not, many people don’t. So having genuine integrity really sets you apart.

It’s surprising how many people are surprised when you do the right thing!

 

 Pick people wisely

This nicely follows on from number 1, really - and I mean picking good people in all aspects of life: business, friends, dating!

If people are good to you, and always look after you, do the same back to them and be loyal, because it’s nice to do nice things for nice people.

However, if someone proves themselves to be a liar, a wretch, or not who they say they are, or they do strange things like not turn up, then don’t put any more effort into them.

For example, last week I booked a new gardener who has already blobbed twice, that’s his copybook blotted… so don’t chase; replace!

Because if someone’s not bothered about you, you don’t need to be bothered about them.

 

 

 

 

 You’re on your own, dolly!

The best thing about working for yourself? No accountability!

The worst thing about working for yourself? No accountability!!

You really must be a motivated self-starter. If you don’t do any work, nobody else is coming to save you. Sugar mummies and daddies excepted I suppose, if you’re that way inclined…😆 But on the whole, you’re on your own.

So remember: if it is to be, it is up to me!

 

 

 

4.    Get out networking

If, like me, you’ve opted to never employ any staff and you work on your own, it can be a lonely business for most of the week.

So why not go out and meet other business owners?

Especially as you might be able to help each other - or make referrals to somebody who can.

Why wouldn’t you help nice people you want to see do well?

When I do a Cilla Black and match someone up with another lovely person whose service they need, it’s like bingo to me!

 

 

 

  

 

5.    Put your face straight and don’t take owt personally

Naughty person not paying their rent / bills? It’s not because they hate you.

Tiles blown off a roof? God is not conspiring against you.

The word ‘tenant’ shows up on your ringing phone, thus you already know there’s going to be a problem and it will probably cost you money? Put your face straight and smile down the phone - that pipe hasn’t burst to revenge you!

Keep smiling, and breathe deeply. Don’t take shit personally, and remember that only death is unfixable.

 

 

 

6.    The organisations are not your friend

And by this, I mean HMRC, Companies House, the council, the police etc etc… They don’t care if you’re struggling, or have procrastinated, or have ADHD and missed the deadline.

They care so little, that sometimes you get penalised for lateness or mistakes. They don’t even care that it was your last accountant’s fault, who was too lazy to get your accounts done in time, and thus cost you a late penalty fine.

So just remember that nobody cares about your business as much as you, and take accountability for getting things right.

 

7.    Cashflow is king

Made a big sale? Lovely chunk of earned income landed in your bank account?

Don’t go wild and spend it!

Because it’s sod’s law that if you do, a boiler will break, or something else other unexpected expense will crop up and try and wipe you out financially.

So build yourself up a cash reserve for unforeseen expenses.

And whilst we’re at it, get your bills and contractors paid on time.

It’s not fair to withhold payment when they’ve already done your work, so don’t be a wretch.

If you can’t afford a service, don’t book it until you can!

  

8.    Get good at the thing you’re supposed to be good at.

If you’re going to do something, you might as well do it as well as you can. Especially if you want, or need repeat customers. Learn new laws and legislations, improve your skills and systems, in fact streamline and tweak anything to can to make your business run smoother.

Way less stressful.

 

 

 

 

9.    Get rid of anything negative

That includes people, processes, and your own intrusive thoughts.

Hate accounts? (yes!) Outsource it to a professional.

Think you’re not good enough? You’re probably right, so get better, and then think a different, more useful productive thought.

Shocking at DIY? Stop doing it - let someone else do it who loves it and is good at it.

Contractor not turned up / ripped you off? Toodle-ooo motherfcuker……

It’s your business, and you get to choose - how it works, how it runs, who you work with.

 

 

 

 

10.                   Remember why you’re doing it

Again, it’s your business and you get to choose!

Remember you’re working to live, you shouldn’t be just living to work.

I never wanted to be grinning and simpering over a gold Lamborghini in Dubai, that’s not my thing at all.

But if that’s what floats your posh yacht-y boat, that’s fine too.

You decide.

All I wanted was to make enough money to enable me to do whatever I wanted, anytime I choose.

The real flex is time freedom.

And at this very moment in time, that means my priority is as simple as sitting writing this right now in the sun with my elderly, disabled dog Jerry Lee in our garden, as he enjoys what is likely to be his final summer.

 

It’s your life, and you get to pick what’s important to you.

 

So there we have it: 10 Things I’ve Learned About Running a Business in 10 Years.

 

And a scary fact is that 60% of UK businesses fail within their first five years, so I’m very glad to still be going strong.

 

I feel very grateful and lucky that I’ve managed a full decade relatively unscathed… I must be doing someat right then, eh?!?

 

Best wishes, and take care

 

Kellyann x x x

 

Easter Lessons... and Blessings!

 

A very Happy Easter to you!   Easter is my favourite holiday, and I have many happy memories of Easter as a child, and loved learning the stories of it.   It reminds us of the lesson of due diligence today particularly, and I hope you have a happier Maundy Thursday than Jesus did…   If you remember, Jesus was betrayed by his fellow apostle Judas Iscariot. Judas was known for betraying Jesus to the Roman authorities for 30 pieces of silver. After all the disciples had had the Last Supper together, Judas then identified Jesus to the guards in the Garden of Gethsemane by betraying Jesus with a kiss, leading to Jesus' arrest and subsequent crucifixion.

It’s a story that still enrages and infuriates me every year - how could he do that to his friend?!?   Sadly in life, it’s never strangers who cause us the most upset and betrayal - it’s those we know and trust.   In the property industry, there are many wretches about. Every so often in the community, a story will pop up about somebody who has ripped somebody off.   I myself have inadvertently been scammed by someone I’d been involved in a property scheme with for a few years.    It came to light that we had been betrayed badly by a Judas, who purposely let us down through an elaborate scam to extort investment money from us.    He seemed a good guy, knew his stuff, showed us evidence of his previous work, was kind and charming and professional and talked a good game… but in hindsight we now realise this was likely all part of his several-year plan.   The projects never happened, the sites were left half built and / or abandoned, and we last heard that the main guy had fled to live in France, presumably living off our stolen money.   All of us in the cohort lost about £12,000 each, and some people that had actively invested even more, lost even more - tens of thousands of pounds, some hundreds of thousands. Majorly stress-inducing for them, especially as it was their own savings, or they’d borrowed it from their own friends, family and neighbours 😱   We did try to recoup our funds using Action Fraud, without joy. I am annoyed with this deceit myself, but I am even more enraged for my lovely friends who lost even higher amounts, because they trusted him. Thus, the story of Jesus and Judas today on Maundy Thursday is a timely reminder to do thorough due diligence on those that you choose to do business with.    Some people will smile at your face then stab you in the back.   So check, check, check everybody you work with, because sadly some people have no shame in ripping you off.   I would rather die than not pay someone their money back.    Even the thought of me dying mid-project without repaying someone their investment funds really bothers me.    So I have an insurance policy in place to prevent that, a key (wo)man insurance plan with Royal London.   My death is not an excuse for someone not getting their money back. I have a conscience, and I like to sleep at night. Even if it’s the big sleep!   But do, please, check out anybody you work with, fully.  Ask those awkward questions, especially if you’re going to be lending someone tens of thousands of pounds of your own money.   Because those of us who have nothing to hide, have nothing to worry about. 😊   PS - footnote… Not commonly known, but did you know after witnessing Jesus' death, Judas returned the money, and took his own life? The Gospel of Matthew states he tried to return the money he received for the betrayal and then hanged himself. Some suggest this act was driven by remorse, guilt, or a desire to redeem himself.   I’m a strong believer in karma - so even if your conscience doesn’t get you for your bad actions, karma will… Cheery story over…. now you have a lovely and peaceful Easter!   I hope you enjoy it with friends and family, and plenty of chocolate.  😊🐣🧆   My very best wishes, Kellyann Martin x x x  --------------------------------------------------------------------------------------------------------- Kellyann Martin is a UK-based property investor. She has a book available for purchase on Amazon, click here to buy: STARTING OUT IN PROPERTY...: What I Wish I'd Known At The Beginning! : Martin, Kellyann: Amazon.co.uk: Books

A Top Ten Countdown of The Naughtiest Things Tenants Have Done in My Properties:

 A Top Ten Countdown of The Naughtiest Things Tenants Have Done in My Properties:

 

I’ve got the old-skool Top of the Pops countdown theme tune in my head; you know the one: Der derrr der der derrrrrrr….

Anyway, here’s a top ten countdown of the naughtiest things tenants have done in my properties so far…. In at 10…

 

10. Let someone sleep in the shed in the front garden

 

Yes, they really let some randomer sleep in the knackered old shed outside in the front yard. God knows why.

Why not let them stay in the house, if it was their friend?

Why let them sleep in the shed at all, if it was a complete stranger?

Bewildering.

I got rid of the shed. No squatters allowed.

 

9. Painted kitchen cupboard units red

 

To be fair, this wasn’t an act of naughtiness, more a misunderstanding of the terms and conditions on their part.

Tenant asked if they could redecorate kitchen. I said yes. Tenant took this to mean that EVERYTHING could be painted, not just the walls, as I had assumed everyone knew. So yes, it was a shocking revelation to discover on a tenancy inspection that my lovely pine-coloured units had been coated in a garish red.

“You said I could decorate” they said… And they weren’t wrong, I did!

So THAT was an interesting lesson on explanation and clarification!

Luckily the tenant likes red, and luckily, they are good long-term tenants who are not going anywhere.

 

8. Had a stash of 6 secret dogs which ruined all the laminate flooring

 

And thus began my hate-hate relationship with letting agents. Because had they actually been inspecting and managing the tenancy properly, like they were supposed to - nay, like they were being PAID to – they would have realised the tenancy agreement at the time stated no dogs. Not a single one. Let alone 6. It was the neighbour that told me that, after they left.

The tenants had inherited a deceased relative’s windfall and bought their own house, which no doubt now resembles a chaotic stinking zoo.

Meanwhile I had to tip all my lovely laminate wooden flooring, which was steeped in dog piss.

 

7. Fill their room to the rafters with hoarded junk, stopped paying rent and dumped a caravan on the drive.

Oh, this one annoyed me immensely, not because of what they’d done, but because when I questioned their behaviour, their stinking, stroppy, rude and threatening attitude towards me was appallingly vile. An absolute arsehole: I’ve never before wanted to punch a tenant in the face so badly until this one, and they would definitely have deserved it. Still, there’s always time, should I ever see them again…

Or maybe I’ll leave their fate up to karma; it always catches up with and reprimands wretches in the end. Karma’s a bitch… but I quite like her!

 

6. Moved into a HMO room, stop paying rent, make up a cock-and-bull story about being investigated for fraud, and dragged his poor ex-wife into his lies, claiming the rent would be coming out of her bank.

 

Never in my life until this guy had I met such a plausible liar who seemed the real deal – and I am suspicious and mistrusting of most people!

 

Billy Liar spouted lies with such charm and conviction that I am convinced he actually believed what came out of his own mouth. When I spoke to his ex-wife on the phone, who was lovely, it became very clear he was full of shit, and his life on a downward spiral trajectory. Absolutely no doubt at all that this clown will end up in the jail.

 

5. Created a marijuana growing farm in a loft

 

Discovered this after the tenants had left. Had to pull all the ‘gardening garb’ down from the loft, and then the police didn’t want to know or care, and just told me to get rid of it. So I did. Made about £60 selling the pots to keen gardeners on Facebook marketplace. Which saved me traipsing them all to the tip.

 

4. Flooded the bathroom which then poured through the ceiling, water damaged ceilings and cut the electrics out.

 

Tenant couldn’t understand why the bath had overflowed at 11pm at night.

I could, and so could the insurance claims man: tenant clearly fell asleep whilst the bath was running late at night, and the bath overflowed.

But no, tenant argued the toss and swore blind that there was something wrong with the pipework.

Hey, people make mistakes, and I accept that, and am ok with that.

It’s when they try to bullshit me with lies to try and absolve their own responsibility that it infuriates me.

 

 

3. Tenant caught child grooming in an online child-pretence sting operation which was filmed for a paedophile-hunters programme and then shared on the internet.

 

Erm, yes. The other occupants of the shared house informed me of this video, and then I had to have a very awkward conversation with him, whereby I pretty much said to the guy: Look, I’ve seen the video. You can’t really stay here anymore, can you?

He left swiftly without a fuss – leaving the room immaculate.

Hopefully no actual children were harmed in real life from this guy.

 

2. Tenant caused chip pan fire in kitchen, took on knobhead boyfriend, got into drugs, trashed house, door kicked in, windows smashed and neglected own children

 

Same naughty tenants as drug farm above. Cost an absolute fortune to get fixed and put property back to the (newly refurbished) condition it was in when they moved in two years before. Absolute nightmare, and the worst house trashing I’d had.

Tenant moved on by council into a lovely new property, in a much nicer area, only to repeat the same toxic pattern of new knobhead boyfriend, drugs, arguments, violence, house trashed.

Some people just don’t learn what’s good for them, do they?

Sadly even when they’ve their own kids to look after and protect.

 

1. Allow local naughty waste dumpers to dump several tonnes of asbestos on the drive in exchange for drugs

 

Same naughty tenants, as above, again. Again, cost a fortune to have asbestos and rubbish removed, but not before local yokels had been breaking and entering into the property and also setting fire to the crap in the garden a couple of times and caused the fire brigade to be called out on each occasion, causing chaos with the house, garden and neighbours.

What is wrong with some people?!

 

So there we have it: top ten countdown of wretch behaviour. Some from tenants which didn’t end up last long as all…. NO MERCY FOR NONSENSE!

 

Surely that’s it for my bad luck of tenants now?

And no Mr Universe, this is not a request to send me more testing problems to compile another countdown list, thank you!

 

I’m quite happy with having lovely, well-behaved tenants who do the right thing, thank you very much! 😊

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Kellyann Martin is a UK-based property investor.

She has a book available for purchase on Amazon, click here to buy:

STARTING OUT IN PROPERTY...: What I Wish I'd Known At The Beginning! : Martin, Kellyann: Amazon.co.uk: Books