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!
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.
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
