Four Years, Four Business Lessons

I'm borrowing from my BizToolkit blog today, as I've had some great emails from readers on this post and wanted to share with you four of my most important business lessons from the last 4 years. I hope that these will give those of you who run your own business some food for thought, as well as some business coaching questions.

I’ve intentionally built some time in over the last few days to reflect on where we’ve been and what some of our goals are for the future. As a business coach, I love doing this work with my clients, and it’s been great to walk my talk and use my own tools for my business.I’ve also boiled down four of the lessons that have served me best during my first 4 years in business.

Business Lesson #1: Be clear on what you want as well as what fuels and passions you
Keeping clear about what I love and want to create has been quite instrumental in building a business and a model which enables me to enjoy the best of the city during the winter, as well as the best of Muskoka during the summer. My time up north renews me on an annual basis, providing the opportunity for more strategic thinking and program/product development.

Coaching Questions: What do you want to create in your business? What's going to give you energy? What can't you live without?

Business Lesson #2: Don’t be afraid to create your own path
When I first started coaching four plus years ago, one of the only models available was one-on-one coaching. From the start of my business I was eager to create and design coaching experiences for groups. I've loved being a pioneer in an emerging area of the coaching profession - group coaching. Rather than feeling like a renegade I created my own path. You can read more about group coaching over at my Group Coaching Ins and Outs blog.

Coaching Questions: What's your path? What unique contribution can you make as a business owner? What's the unique path of your business?

Business Lesson #3: Persevere
Strategic perseverance has played an important role in growing my business. If it didn't work, I asked why? If it didn't work, I tried again and refocused. If that didn't work, I tried again.
Most of us know the stats on marketing -- it may take 7-11 times for a consumer to purchase, so why do so many business owners give up after the first try?
Coaching Questions: Where do you need to persevere? What needs to be refocused?

Business Lesson #4: Learn from all experiences, the good and the bad
And finally -- reflection and learning has also played a key role. Whether it's been a great experience or one that's not been so great, identifying the learning and applying in the next step has been critical.
Coaching Questions: What can you learn from your most recent success? What can you learn from your most recent failure?

Some interesting facts:The US Small Business Association states that only 2/3 of small businesses survive after their first 2 years in business and less than half make it to 4. WOW!

What have been some of the lessons which have served you best in growing your own business?
In closing, I want to thank all of you who have supported myself and Potentials Realized as we've grown. I look forward to many more years of serving you -- and if we haven't had the opportunity to meet - I'd love to connect to see how we might synergize.

Have a fantastic week,
Jennifer

Jennifer Britton, PCC, CPCC, CPT
Potentials Realized
Group Coaching Essentials
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