3 Things I Wish I Knew When I Launched My Business (and 3 Things I'm Glad I Didn't)
You learn a thing or two after being in business for 3 years.
Since founding Friend of a Friend, it’s been 3 years and a lot of ups and downs later, I realize I had to learn some lessons the hard way — aka the ‘downs’ on the roller coaster of owning your own business.
I know the lessons are not finished — I mean, you’re never really done learning — and I’m excited for the opportunity to grow as a PR professional and business owner.
Here are three of the things I learned the hard way — plus three things I’m glad I didn’t know and am better off for not knowing!
Thanks for being on this journey with me, friend!
— Christine Scherping
founder, Friend of a Friend PR
1. Just Press Play Already
There will never be a perfect time to start a business. You’ll never feel “enough” — ready enough, prepared enough, put together enough. Rome wasn’t built in a day, and neither will any business be built from start to finish in a day!
A business is constantly evolving and it’s never “done” — so just get started! By doing little things each day, I was able to eventually launch a PR brand that was authentic to me, my expertise, and what I enjoy doing. All the little things add up — and they add up quickly!
2. Know Your Worth
While Imposter Syndrome is real when you’re starting out in business (it’s real for people who’ve been in business for decades!), it’s important to know your value and your worth — and not just to ensure you’re bringing in the funds to continue doing the work you love.
Underselling your services can devalue your entire industry. It also puts you into the category of being ‘price shopped’ and being selected for the job based on your low rates. Not only will you become burned out faster, but you’ll also begin to resent the work and your clients because the workload won’t support your rates!
Another important aspect of knowing your worth, I’ve learned to not give away my knowledge and expertise for free. I’ve spent decades learning and refining my skills and giving it away to brands for free doesn’t honor my time or worth. It completely devalues my worth by saying my knowledge is worth nothing. Your exchange of knowledge can be invoiced as a consultancy fee and sets a clear boundary to people asking to buy you a cup of coffee in order to “pick your brain.”
3. Hire an Accountant
Everyone thinks they can handle it on their own, but the truth is, business and personal expenses can be really tricky really quickly!
Hire an account that comes with great recommendations from other businesses (ideally in a similar industry to yours) and you will save yourself many headaches in the future!
Oh — and before you do anything, open a separate business checking and savings account. Your future accountant will thank you!
And 3 things that I learned the hard way and am better for because of it!
1. You Can’t Be Everything to Everyone
This piece of knowledge may be the most crucial thing I’ve learned as a business owner. While my natural reaction was to try to shapeshift myself and my business into whatever a prospective client needed, I learned it wasn’t doing me (or those clients) any favors!
What I didn’t realize when I launched FOAF was that to best serve my ideal client, I could not take on clients that weren’t a good fit. Trying to a one-size-fits-all PR firm doesn’t allow me to shine in my areas of expertise and lowered the overall quality of my work.
Since learning this valuable lesson, I follow a specific checklist before taking on new clients to make sure it’s a good fit for me and them!
2. Sometimes Done is Better Than Perfect
Whether it’s your website, the copy for a social post, or the PowerPoint presentation you have to give next week, sometimes ‘done’ truly is better than ‘perfect.’
You can always find something to fix or edit after you thought it was complete, but the key is to know when to stop and move on, put down the pen, or shut the laptop.
Set a timer to determine how much time you have to work on scheduling out a week of social content and hold yourself to that time frame. Of course, this rule doesn’t always apply to everything (client work, etc), but consider this in your hierarchy of daily tasks!
3. It’s OK to Celebrate You!
Lastly, take the time to celebrate your, your hard work, and your success! It doesn’t matter how big or small the success may be, take the time to be proud!
Share your successes with your network (hello, LinkedIn!) and keep them updated along the way so they can join in the celebration. Plus, it keeps you and your new business top of mind for potential new business leads!
If you're ready for more insight and refined strategies when it comes to your brand, you're in luck!
Right now, you can download the first two chapters of our e-book "Pitch Like A PR Pro" for free! In this book, we share all our best-kept secrets when it comes to delivering media placements and influencer partnerships.
It will help you think more broadly about your pitching approach and what to do before you start, who to pitch, when to pitch, and what your reason is for pitching in the first place! Just fill out out the form below and keep an eye on your inbox!