What I have learnt after running my business for one year
A year ago on 5 July 2020, my husband Richard and I started ER Marketing Group. Here is an overview of our story and tips we have for anyone who wants to start a business.
In March 2020, I was six months into my new Marketing Manager role when COVID-19 hit. As a result of the pandemic, I was put on furlough and to keep myself busy I started working as a domiciliary carer.
In this role I met a wide range of people including the lady who said the key words which led to me believing I could run a business.
A few days before my last shift as a carer I found out I was being made redundant from my marketing role. I had no money, no plan and worst of all no hope.
Richard was in his third year of university so suddenly the only income we had was his student loan. There were no jobs in our area so I quickly needed a plan B to get some money in.
On 5 July I went to my last call to see a woman who was terminally ill with cancer. We were talking about what happened and she looked at me and said ‘Well, what are you going to do now?’
Before I could think about it I said, ‘I am going to start a marketing agency.’ She saw the shock on my face and started laughing. The idea had crossed my mind over the last few days, but it felt like a pipe dream. We spent the rest of the hour discussing ideas for the business.
Before I left, she said the words that spur me on to this day. ‘OK, now you have said it out loud, go and do it, I know you can. Don’t let me down.’
Now as we approach our first anniversary, I look back with pride to know that the hard work is starting to pay off. A few weeks ago we won our first industry award and we have been shortlisted for other awards which was a wonderful achievement and surprise.
Running the business hasn’t always been easy. There have been long days, sleepless nights, and months where we didn’t earn enough to pay our bills, yet I wouldn’t change it for the world. Here is what I have learnt about starting a business on a tight budget.
Networking is key
There are a lot of networking groups that are now online and affordable. Building relationships with other business owners and getting referrals is the best way to grow your business.
Building these relationships takes time and effort but in the long-term it will pay off because people will get to know you and will refer business to you.
Here are some of my favourite networking groups:
Keep the marketing drumbeat going.
Starting a business on a tight budget might mean you don’t have a lot to spend on marketing. Keep consistent where you can, think of it as a drumbeat you need to keep going.
Even if funds are tight, there are things you can do that are free or cheap, for example, posting on social media, writing content for the website or networking.
Get the right mindset
Remember Rome wasn’t built in a day. It can take two years to build a business so if things seem slow, don’t be hard on yourself.
Before you launch the business, make a business plan and set achievable goals each month then celebrate the successes, even the small wins.
If you are thinking about starting a business then planning is key. Start small when it comes to investing money, remember there is no direct link between the amount you invest in the beginning and the long-term success of your business. It will mean you have to work smarter and harder but this will become part of your brand’s story.
Remember when things get tough refer to the poem Do Not Quit by John Greenleaf. One of the lines reads “Rest if you must, but do not quit.”