You deserve a pat on the back! It has been a grueling and stressful week putting up your own business, but I am proud of you for making it through.
Who would have thought that three months would fly by so fast? I can still remember you sitting in this coffee shop, thinking about what business to start, and now look at you—still sitting on the same spot, but now with your business dreams within reach.
I am aware that there are times when you feel overwhelmed with responsibilities and expectations to become successful. Know that this is part of the journey, so enjoy each moment: wake up every morning with enthusiasm, treat your staff right, and greet your customers with a smile. Your business will thank you later for hustling and doing all the work with love.
A few weeks or months from now, I’m certain that things will be a lot more challenging. That is why it is all right to ask for help and seek advice from other businesswomen who have succeeded in their own ventures. I’m lucky to have interacted with them. So, for rookies like me and for the other aspiring businesswomen out there who are just beginning their entrepreneurial journey, I have collated some of the #adultingtips I have learned so far, which I know will be helpful in the future.
1. Saving. Make a conscious choice to save. I know you’re doing your best to spend less to save more, but when you almost have the business fund to start, something always comes up. A high school friend invites you to a party, your car suddenly needs new tires, and your sister asks for help with her hospital bills—and just like that, your money goes down the drain.
Every entrepreneur faces this challenge: having a shoestring budget to continue their business. There is no other tip that I can give you but to cultivate the habit of saving money. Purchase the things that you need and cut back on unnecessary expenses. Say no to unplanned trips. Stay committed to your game plan. You will have to make sacrifices right now, but I promise you it will all be worth it in the end.
2. Investing. The best time to invest your money is right now. You will yield more success if you learn the importance of getting your own savings and investment plan.
Don’t put all your eggs in one basket. Build your wealth by letting your money grow through other means. This will give you more assurance of having a prosperous financial future. I know you are a self-learner; research the importance of having insurance and investment plans, but don’t hesitate to talk to a financial advisor. They can give you an idea of what kind of investment would suit your budget and lifestyle and help make sure you are making the best financial decisions for you and your business.
3. Living wisely. Prioritize work-life balance to maintain your health and well-being. You can make better decisions if you are a healthy and motivated business owner.
Don't let the pressure of attaining success overnight get to you. Sometimes you have to take the backseat and just let things be. Remember, you can't control everything in your business, but you can always control the way you react to things. Talk calmly if your client gets angry and embrace feedback if your employee is not happy. Remember, the success of your business depends on how you treat the people around you.
Having a business might mean working tirelessly and finding it hard to squeeze in a grand vacation leave but don’t forget to go on simple staycations and set some pamper days. These can go a long way of physically and mentally refreshing yourself. You earned it, and you deserved it for making it through.
I hope this letter inspires you to keep moving forward and always trust your potential. If you’re able to read this anytime soon, I’m grateful, that you were able to start your insurance and investment plans ahead. For other young entrepreneurs, getting one will help you a lot in dealing with potential financial setbacks as you expand your business further. Find a plan that will help you invest and diversify your portfolio while protecting your business from financial blows. I’m happy to share with you that I made the right choice with AXA’s MyLifeChoice.
Know you can gameplan your business to success with the tips I shared with you. I also got an expert to help me with my financial journey. Just reach out to an AXA financial advisor in case you have questions.