Exactly one year ago we signed the papers that officially kicked off LHBS. The last 12 months have been an amazing experience with many highlights and learnings. Here are a few:
Act like a company from day one:
When you decide to start your own small business, it’s very easy to fall into the trap of thinking like a freelancer. You get a project, make a fee and move on to the next one, minimize costs and feel safe. What seemed to work for us is to immediately think like a company and establish salaries, get proper office space, invest in things that would position us for growth in the long run. When you pool financial resources into a company pot, every expenditure seems less like money coming out of your personal pocket and more like an investment into the future.
Do more than you think:
That is not to say ‘don’t think’. But don’t over analyze each step and delay action until everything is perfect. It will never be. You can debate the perfect business model, the perfect website, the perfect business card layout forever. Get going on the things you want to do and know that your instincts ensure that you are at least 80% there and you will work out the details in the process. Everything, as the saying goes, is a BETA anyway. So don’t lose time and get going.
Position yourself to attract talent and not clients:
If you are in business, chances are you have a pretty good offer already. But without the right team, it will never come to life in a the best way possible. Be a place where people want to work, especially important when you are in a people business like we are. Two corner stones of the culture that we are trying to establish at LHBS are personal freedom and ongoing learning and education. The clients will come sooner or later anyway. This advice came to us from the good people at LOOP and we like the principle. It works.
In case you are thinking about starting your own business and you want to exchange some thoughts or ideas, feel free to get in contact with us.
Happy Birthday to us,
Joanna & Stefan