June 26, 2015
A few weeks ago, OnlineStir had its 1-year birthday. Or better put, it passed the 1-year hurdle.
Surviving the first year is the hardest part of any business. It’s a real challenge to find early-adopters who believe in you and your business enough to part with their money.
It’s also very difficult to find the right team members, define the processes, manage the finances, and do everything else a new business owner must do. That’s why most businesses fail within the first year.
Revenue is often less than expenses and time required is often less than time available. It’s enough to make most new entrepreneurs give up, and usually just before they start gaining momentum.
But if you can make it past the 1-year hurdle, everything starts to change. Your clients are no longer early adopters so they’re easier to find and your old clients start sending you referrals.
If you’re running your business the right way, you’ve assembled a great team, you’ve defined your processes, you have an awesome virtual CFO or bookkeeper to manage your finances, and your primary role in the company has changed from doing everything, to managing and driving growth.
Overcoming the 1-year hurdle is a beautiful thing! An accomplishment to be proud of!
Over the past year, I have to admit that a few times I questioned my sanity (at the top of my lungs). I considered throwing in the towel at least a few times. But I’m not one to back down from a challenge so I kept moving forward. One day at a time.
Now, the majority of our new business is inbound…meaning they contact us. On average, we have 10 to 15 projects going at a time. Our sales and revenue are on an upward trajectory.
Everything just FEELS different. It’s like driving through a storm and coming out the other side to see blue sky and a beautiful rainbow.
It’s hard to understand if you’ve never experienced it. You’ll need perseverance, resolve and faith in yourself if you want to experience it.
A year is a long time and most people give up before they reach it, but if you can stick it out and build your business correctly, the reward is worth it.
If you need some help on the “build your business correctly” part of the equation, check out Chuck Blakeman’s book, “Making Money Is Killing Your Business, How to Build a Business You’ll Love and Have a Life, Too.”
If you want a real business instead of a job you create for yourself, you can’t do it alone and Chuck can help you make that process enjoyable and profitable. He sure has helped me!
Happy birthday OnlineStir! You made it past the 1-year hurdle!
Onward and upward!