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The world needs entrepreneurs, bold starter-uppers who have what it takes to create opportunity, prosperity, and jobs. But what do entrepreneurs need, aside from an abundance of faith and hope? Here are some inside tips.Â
By Stacey Vee*
Build Your Own Desk. Itâs a hands-on, do-it-yourself mantra for anyone who wants to make a success of their own business. Here are some other handy tips and bright ideas from Stacey Vee, who runs a small and fast-growing content agency in Johannesburg.
The Internet zings with advice for entrepreneurs. The 20-something CEOs of disruptive startups moonwalk the stage at TED talks, in their limited edition Nikes.
They leave audiences feeling electrified, pumped up with one-sentence epiphanies. âPeople donât buy what you do,â they say. âPeople buy why you do it.â
Itâs become a cult. The only thing people talk about more than the highs of entrepreneurship, are the lows. And even the lows are glamourised. âFail fastâ is one of these start-up mantras that comes to mind.
What no one really talks about is what happens in between. For the last two-and-a-half years, Iâve been running my own agency. My business partner and I are in the comfy phase where weâre not too concerned about sinking, and weâve figured out where this ship is headed. I guess this phase is called âgrowing your businessâ.
Itâs an awkward period where youâre steadily plodding towards your goals. Youâre wiser, more realistic, and have settled into a daily routine instead of flying by the seat of your Spanx. Hereâs what Iâve learned:
Plan for profits. In the beginning, youâre focused on trying to pay overheads and salaries. We closed off our books recently, and were pleasantly surprised that we made a modest chunk of moola (yay) and we have to pay company tax on it to the vogons at SARS (boo). Now we need to decide what to do with our earnings. Reinvest it in our business? Take dividends? Invest it? Donât be caught with your profit pants down.
Make your get-shizz-done hour untouchable. When youâre running a company, thereâs always someone popping their head into your office to ask something. Youâre busy all day, hummingbird-style, but get bugger-all done.
I solved this problem by blocking out my most productive hour in my calendar. I donât take meetings in that time, I close my office door, and I sure as shish kebab donât waste it by catching up on emails. Answering emails is not work.
Think about the wheels on the bus. Thatâs the stuff that makes your business go round and round. For instance, every time we hire an extra person, we need to buy another desk, chair and laptop. BYOD â build your own desk â has become an amusing part of our culture at Content Candy.
But weâve reached the point where we have to make some expensive upgrades to things like our phone points (weâll need a proper switchboard soon and not just a single line), our DSL network and investing in one of those Hulk-size printers. This is not cheap, and you need to put in in your budget well in advance.
Donât stop getting your hands dirty. Iâve helped build every single chair in our office. There are photos of me, on the floor, assembling desks, with my underwear sticking out. When you start out with a small team, everyone gets stuck in, even the boss.
But the bigger you get, the less time you have to help out with the day-to-day stuff. I think itâs a mistake not to roll up your sleeves occasionally and work in the trenches alongside your team.
But remember, youâre not friends. This has been my toughest lesson. I want everyone to like me, so I overshare. But with more staff, comes more responsibility. Those first few months of getting your business off the ground are so intense, itâs impossible not to bond with your employees on a personal level.
Now that weâre bigger, I need to hold myself in check â because you canât be presiding over a performance review when the person youâre evaluating knows about your secret KFC hot wings addiction. Itâs just not professional.
Clone yourself. By this I mean, you want to be able to step away from your business completely and itâll still run like clockwork. This comes down to finding a person/people with the same skillset as you – my clone is my partner Brendah â and building processes that keep everything ticking along when youâre stuck in back-to-back client meetings.
These are some of the hard-won lessons I have to share with you. Excuse my lack of snazzy PowerPoint slides. But I did wear my Nikes while I wrote it, promise.
- Stacey Vee has worked in the media for over 15 years, runs a charity, and writes one of SAâs most potty-mouthed blogs â itâs about parenthood, obviously. When sheâs not running her small agency, Stacey is competing in a sport she calls âstress-bakingâ and kissing better the ouchies of her three devastatingly handsome sons: Travis the Lionheart, Ryan and Oliver.
- This article first appeared on the Change Exchange, an online platform by BrightRock, provider of the first-ever life insurance that changes as your life changes. The opinions expressed in this piece are the writerâs own and donât necessarily reflect the views of BrightRock.