Most entrepreneurs claim to have an “aha!” moment that serves as the catalyst for starting their own business. For me, that moment occurred on a plane in 2012 while I was returning home from a work conference in Vegas. An idea hit me for a financial app, and the idea excited me so much that I spent three hours furiously pouring the concept onto Delta stationary. I didn’t know how it would pan out, but something inside me ignited.
At the time, I was working in finance. My soul was slowly being crushed for a high salary, stock options, and a pension. Every day I would enter the building and it felt like the sun would dim and the air would go stale. Being tied to a desk and filling boxes in sales spreadsheets was paying the bills, but it wasn’t satisfying me. I wanted more flexibility. I wanted my work to excite me. And I wanted to be my own boss. I was 30 and the entrepreneurial spirit was hopelessly gnawing at me.
I pitched my app idea to a local website development firm.
The owner condescendingly asked me why I couldn’t bring the app to life myself. My excuse was my job. So, the website developer told me to quit. He’d done it a decade before and found success, so what was stopping me? (I’d read about his story in the local news plenty). I told him my husband and two small kids – that’s what! His reply? “Nothing motivates you like bills to pay.”
I left there pissed off – how dare he tell me what I didn’t want to hear!? But, catalyst #2 had been set into motion and my biggest ally, my husband, gave me the green light so I submitted my two weeks’ notice. Ben told me that if anyone could do it, I could.
From Finance to Commercial Writing
Fast forward to September 2013. I launched an LLC called “Strong Estate”—a play on the word “strongest” that I thought was rather clever as a URL. I didn’t have a specific vision for what the LLC would be. All I knew was that my attorney told me I had to name it!
I bounced around for a few months trying different things (I also took some time off for the holidays). The financial app ended up being cost-prohibitive and it never came to life, but I still had those bills to pay. I tried leveraging my financial expertise via an online subscription model, but I didn’t feel like I could manage that effectively either, so I cut the cord before too many dollars were lost. I discovered this is how a “lean start-up” behaves, but I wouldn’t be introduced to that concept for many more years.
Then, about six months after leaving the W2 world, I discovered that people would pay me to create SEO financial content for them. I became a freelance commercial writer from the comfort of my own home in rural Iowa. It checked off all the boxes I had been looking for – work anywhere, anytime, whether you’re home with the kids or traveling the country. It shocked me how easily I could gain customers and how badly they needed help with their writing projects.
While I held a master’s degree in communication, I did not consider myself to be a trained writer. Turns out that in today’s hectic online world, writing great novels isn’t a helpful skill. Your writing has to be concise and attractive to search engines. I could teach myself those skills and I had a secret weapon – paying customers that would ruthlessly give me feedback. They also told me where the market was heading and how to position myself to offer other attractive services. I listened.
In 2015, one year after I made my first dollar online, Strong Estate Marketing scaled. The business I had started at my kitchen table with a $200 laptop had become a global commercial writing agency. I was working with clients all over the world in virtually every industry—writing websites and blog posts for everyone from cosmetics companies and realtors to junk haulers and CBD sellers.
But it didn’t happen overnight, to say the least. Although there’s no magic formula to creating a successful business, I’d like to think I have some wisdom to share with wannabe entrepreneurs.
7 Lessons I’ve Learned as a Business Owner
1. Find Your Value Proposition
In my early writing days, I wrote a lot about finance. My background in finance was my value proposition. But eventually, I followed the demands of my clients and I began writing about anything and everything.
Other writers didn’t want to create content about “boring” topics like construction and plumbing, or controversial ones like cannabis. But I didn’t mind writing about those things, so the customers came to me.
2. Learn from Feedback and Experience
As previously stated, I wasn’t a formally-trained writer. Many people would allow this to stop them from chasing their dream. I knew nothing about search engine optimization (SEO), but that didn’t stop me. The Internet is full of free ways to learn! In my case, there were plenty of helpful articles, videos, and courses available. I perfected my writing skills through the feedback of my clients. It stung at first, but it made me better.
When you have a business and you mess up, you really can’t take it personally. You have to take it as an opportunity to improve what you’re doing. Your business can’t grow unless you do.
3. Don’t Lose Sight of Your “Why?”
My initial goal with my business was to be able to work anytime, anywhere – even from a beach! Now, my “beach” might be at home with my kids or it might be on vacation, but the overall goal was to be untethered. I had spent far too long doing what others told me I had to do from locations they chose. I knew no one was going to create that kind of work structure for me. I had to do it myself. Yoga pants 24/7 isn’t such a bad perk either!
Of course, being my own boss hasn’t been all yoga pants and beaches. There’s a lot of unpredictability as far as workflow goes. When there are lulls, it’s stressful, and a lot of times there’s no clear explanation for it. But never losing sight of my “why” keeps me motivated to keep going.
4. Listen to the Voices that Matter. Ignore the Ones That Don’t.
The other thing about being your own boss is you can’t expect everyone to be rooting for you. Most people will think you’re crazy. They believe big bank jobs are secure and working for yourself is insecure. However, I wouldn’t necessarily agree with that. You have to figure out whose opinion actually matters to you and drown out the other voices. In my case, I’ve chosen to listen to those I trust – particularly, my husband Ben. He is a voice of reason, a soundboard for ideas, and a cheerleader when things get tough.
Sometimes, the people you’re listening to are people you’ll never even meet. I was hugely inspired by Thomas Stanley and his Millionaire Next Door series as well as Clayton Christensen, especially his book How Will You Measure Your Life? They left me believing what I envisioned for myself was actually possible.
If your business succeeds, you’ll prove the skeptics wrong. My mother-in-law was skeptical of my business plan, but today she refers to me as “Wonder Woman.” I think it’s safe to say she came around!
5. Offer Something People Are Willing to Pay For
If you’re going to put everything on the line, you need to offer something that people will pay you for, full stop. Otherwise, you’ll fail. As long as you prove what you’re selling is worth the price, nothing else matters. Business ideas are a dime a dozen, but ones that are actually in demand are few and far between.
Due to a lack of time or talent, it didn’t take me long to realize that business people really can’t write. But they needed writing. Because of that, I knew I could provide value.
6. Focus on Making Sales
Money is tight for small businesses, especially in the beginning. You may be tempted to go crazy on business cards, signage, and a fancy custom website. But in most cases, that just isn’t practical. Your focus should be on making your first sale – not branding yourself into oblivion.
The challenges of making a business profitable can’t be overstated. Your resources are finite. Protect them at all costs!
7. Build a Strong Team
At first, your business is probably going to be a solo endeavor. I was my only employee for over a year. I look back at that year and am exhausted just thinking about it! But since I started hiring, I’ve found my favorite part of the job: being a role model to my employees, even when they don’t know it. I’ve studied corporate culture heavily and being able to create one is incredibly rewarding.
Making smart hiring decisions is important for many reasons. One rule I’ve lived by in my business: hire slowly and fire quickly. If you are incapable of having tough conversations and resolving conflict quickly, you might not be a great CEO. There’s nothing wrong with admitting that fact – many founders choose to leave that particular job to someone else and play to their own strengths.
I know I have people counting on me and our business, and that’s a huge contributing factor to my drive. I want to continue growing not just for my sake, but for theirs as well.
So, What Does Your Future Hold?
Becoming a DIY CEO is far from easy, and I’ve read that only 1% of people actually follow through. But thanks to the great people in my life, my inner drive, and the power of the Internet, I was able to make my own path.
My final advice is to be aware of the sparks, catalysts, and crazy ideas that enter your mind. I’m convinced that going “crazy” at the beginning is important – so, don’t shy away from the ideas and plans that excite you! Your ideas may seem small right now, but they might just ignite your entrepreneurial spirit and start you on the career path of a lifetime.