We’re celebrating this month, as Aggrandise VA turns five. How exciting is that!!
When we launched, five whole years ago, I had a huge amount of experience in administration and organisation so I was confident that we would be able to provide an amazing service to our clients. However, I’d never owned my own business and didn’t really have the first clue about how to build a success business!
Like every new business owner, there it was a massive learning curve. I don’t like to say there were many mistakes, so let’s call them ‘lessons’. Here are 5 key things I’ve learnt in my first 5 years:
Learn to say NO (harder than it sounds!)
When you first start your own business, you’re bound to be concerned about where the next client is coming from. This makes you very likely to say yes to every request you get. If you have quite a broad scope of services, this can be a good way to discover the ones you really want to offer and streamline your business niche over time.
However, you’ll have requests from clients for services you don’t really offer or services you really don’t like doing. Over time I learnt to say no to those requests and to clients who were not going to be a great fit for us, because the more ‘out of your scope’ the task or client is, the more time consuming and unprofitable, your working day becomes less enjoyable and most importantly you won’t be providing a service that you can be proud of.
Don’t be afraid to say no to a request that doesn’t suit your business – it’s empowering.
We know our clients value us for the services we do offer – and we’re always happy to recommend another business if we know they can help with your specific query.
Invest in your own Self-development
There’s always something new to learn and it’s so important to invest in your own self-development. As well as keeping up with changes in your own industry, there are things a business owner needs to know – like marketing yourself online or managing your bookkeeping. Sometimes budget can be an issue when you first start a business, so do what I did, contact your local Business Growth Hub, they offer fantastic and often free workshops to new local businesses, plus it’s a great opportunity to network with other local businesses.
Not only does self-development keep you at the top of your field, but you can be sure that if you don’t know how to do something your clients will ask you about it! So, making sure you stay up to date is good for you and good for your business.
Know your Value
This is another area where self-confidence is important. When you first launch your business you will almost certainly question your price, whether it’s because you are looking at what your competitors are doing or you are faced with a potential client who tries to drive your price down. You’ll hear comments like “I really like you but I can get support cheaper elsewhere.” Or, like I heard many times “ why should I pay you that when I can pay a VA in the Philippines £5 an hour”
Your value is not just based on the work you do but the experience and knowledge you bring to the table.
It’s important that you know your value. You are a specialist in what you do. If the client is a good fit for you, they will also understand that your services will add value to their business. Don’t be tempted to offer discounts just to keep a client. And if they are more concerned about the price than the service you offer, perhaps the competitor would be a better fit for them.
Effective Networking Builds your Business
For many small businesses, networking is a vital part of their monthly marketing. This was definitely one of the biggest learning curves for me. I had never been in the position of having to talk about myself so much and I wasn’t great at it!
Of course, networking isn’t just talking about yourself. It’s listening to other people, recognising who to connect with, and even learning which groups are worthwhile. In my first group, I was a member for a year before I realised that while it was a supportive and social experience, it had not helped to grow my business at all, which was, after all, the point of going.
Networking is not about making friends. First and foremost, it’s a marketing tool. So, I would recommend keeping a spreadsheet of the costs of networking compared to the incoming business and make clear decisions about which groups are the most cost effective.
Work with a Business Coach
There are many tools that we use to make our business more efficient. We tend to think of these in terms of technology or equipment. However, over the last 18 months I’ve been working with a business coach, and I have to say that it’s changed my approach.
We all tend to focus so much on our clients that our own business gets left behind. My coach made me stop and think about the way my business was running and put in processes to make me proactive rather than reactive. Altogether, Aggrandise VA now feels more professional and structured. I think having a business coach is like having that objective third party, giving you an independent view on your business and holds you accountable.
Celebrating 5 years with Aggrandise VA
It has certainly been an eventful five years for Aggrandise VA, but I’m so proud of what we’ve achieved and how far we’ve come. So, to everyone we have worked with, our family, friends and colleagues – from us to you, thank you for all your support over the last five years.
