Eight Lessons from Eight Years in Business

*A note from Fetch PR partner Lina Khalil

 

Fetch has gone through a ton of changes since Erryn and I started the business in 2009, growing leaps and bounds in clients, staff and even square footage. To celebrate our eighth year in business, the whole team came together for cake and wine and to reflect on the lessons we’ve learned. Here are a few of our favorites.

 

1. Put all the cards on the table.

One of the best ways to keep your team passionate about the company’s goals is to be transparent about where you've been, where you are currently, where you would like to go and how each individual plays a role in getting there. When employers put all the cards on the table, their team feels more connected and committed to reaching the company’s goals.

 

2. Be real about your struggle.

Being able to identify where you struggle personally while also being able to have success in those situations provides individual development that will help you grow as a company. Obviously, you want to stay true to who you are, but you can't always be the same person in every professional situation and rely on just your natural skill set if you want to progress. You need to understand your strengths but not fall back on them constantly to the point where they become a weakness.

 

3. Bootstrapping isn't cute.

Money isn’t everything, but when you’re running a business, it can feel like the only thing that matters. We like to ask ourselves two questions when it comes to making business decisions: Can we afford to do it? Can we afford NOT to do it? Always remember that any financial venture is an investment in your business. If an opportunity to improve your business may stretch you financially, consider how long it would take you to reach your goals without making that investment. Compare this to the short-term financial strains that you may incur by going after it. We have found that nine times out of 10 that making the investment has paid larger dividends.

 

4. Don’t sell yourself short.

Go after your ideal candidate as soon as possible, even if you’re not currently in the position to hire them. Make your intentions known and start the conversation early with them. Most business owners feel undeserving when it comes to attracting top talent. However, if you passionately sell your vision to them, they may reciprocate by telling you their must-haves in order to make the move. This will put you the best position to secure your rock star candidate and accelerate the growth of your company.  

 

5. Wear less hats.

At some point every business owner wears multiple hats. While this approach allows you to launch your company and get off the ground with minimal investment, it was never meant to sustain a company long term. It is important to understand your revenue-generating activities which will help you analyze the value of your time. This will allow you to pinpoint processes that you are currently handling and outsource to a third-party who can do it more efficiently and for less money than what your time is worth.

 

6. Take your blinders off.

In our personal lives, we all know self-care is important - meaning, you have to take care of yourself first in order to help others. This is no different than running a business. While keeping your clients happy is the number one priority, neglecting your own business can stagnate your growth. To ensure your business doesn’t plateau, set aside time each quarter to look at your business as a whole. This will allow you identify areas of opportunity, promote innovation and boost creativity within your business.

 

7. Sh!t happens.

Ultimately, we can’t control when bad things happen, but that doesn’t mean we should sit around waiting for them to happen. While these negative experiences allow opportunities to learn and grow, it’s equally important to recognize the good moments and enjoy the heck out of those times.

 

8. Boy bye.

A relationship with a client is oddly similar to a relationship with a significant other. Sometimes, when the relationship with a client goes south, you automatically try to mend the broken pieces but realize that it can only hold together for so long. When it gets to that point, it’s time to let the client go in order to keep your company intact.

 

We hope these lessons that we learned throughout our eight years in business can serve you well in your enterprise endeavors. Here’s to another eight (plus)!


Check out one of our highlights from this past year