Your Most Valuable Asset

Last week, I discussed creating a marketing mindset and some tips to help you along the way. This week is all about your most valuable commodity…and no, it’s not capital. Having enough funding is important in not only starting but also maintaining your business but having proper funding does not define a successful business. There are plenty of businesses operating today that started as nothing but a dream and the desire of the proprietor driving it. These businesses are run by individuals who work part time or full time to be able to make their dream come to life, or maybe they have decided to go all in and cash out what little savings they have to follow their dream. While funding is a necessary step to owning and operating a business, often our most valuable asset is one overlooked, time.

Time is by far the most valuable asset of any business owner and the quality of the time you spend on your business outside of operations defines your opportunity for long-term success.

Running a business is no joke. There’s a reason why as a company grows, its workforce grows with it. It takes a lot of manpower to reach a finished product from large scale operations to building a website. It takes time and a lot of hard work. As small business owners, we entered this world, star eyed and dreamy of what we could create and what we wanted to build. We have a beautiful picture in our minds of what we could do but over time, that picture becomes darker. Darker because we spend less time focusing on what is needed to make what we envisioned happen and more time on details of everyday operations. We become frustrated because that picture is harder to see and focus that frustration that bothers us most.

In my first year, I often told others to not look at my own marketing, but to look at what I was doing for my clients. Talk about shooting myself in the foot! A marketing agency telling potential clients and referral partners to not look at her own marketing, what hope did I have for long term success with this attitude? I did this because keeping up with my clients’ accounts took time, more time that I had considered. I hadn’t fully thought out the finer details in how I wanted this portion of my business to operate and I was frustrated. So frustrated that I did not maintain my own online appearance, and this was embarrassing.

I thought I was making the situation better. I wasn’t.

To tackle the frustrating aspects of the business, I started seeking help, direct help, now help. I found a bookkeeper who was willing to trade services because a business who tells people to not look at their work doesn’t get a lot of business. Which took a huge headache off my plate but finding a groove that worked for us took time. I started looking for contract help so I could focus on my immediate issue, resolving that problem I had created but finding people who shared in my vision and were able to help, also took time. And it wasn’t always fun during that time. It was often discouraging because all I had was my dream and what I had was more of a hobby than a business and life continued to evolve around me.

Shortly after a year in business, my husband wanted to follow his own dream. While I had my reservations, who was I to say no? Yes, it would be difficult but I had a year under my belt and I had been working on some of the finer details in the business, working out the kinks if you will and I felt confident that we could make it work. We just needed to make some adjustments in lifestyle.

As time wore on, that picture I saw started to flutter.

Through mounting pressures, particularly related to financing, we found that we were both struggling to see our pictures. Could we do this? Was this even feasible? Had we made a terrible mistake? These thoughts swirled in our minds and distracted us from the more valuable use of our time, addressing the issue at hand. Once again, the details clouded my view of the larger picture but this time rather than slowly changing, the clouds came in waves.

My website went down for a period of about two weeks as I transitioned over to a more budget friendly option. While I knew this would hurt my marketing, I also knew that I could bounce back from it in the way that I handled it. If I had looked at the transition as a point of frustration, “I can’t believe I need to spend time on this,” the site would have been down for longer because I would have put it off. Instead, I viewed it as a means of getting back to my why behind my dream. I reviewed the site I had and how it lined up with my overall vision of my business and found that the business had evolved beyond how that site portrayed. During this time, the picture was clear and sharp. I knew what I wanted to do and took the time to do it while learning more about the contractors I had brought on and finding how we would make the relationship work.

But in these times of clear vision of what I wanted and how I was going to get there, I had moments of darkness. My phone, tablet, and computer all needed to be upgraded around the same time because I had not anticipated the extent of the increased use would burden the devices, all of which took time. Time to research what I really needed and what would be a good investment long term.

It wasn’t just the time spent; it was the quality of the time spent that mattered most.

Today, I have a clear picture in my mind again of what I want Symbiotic Marketing to be and am actively taking steps to make it happen because of the time I spent focused on the business. Yes, I still feel frustrated by details but shifting focus from what frustrates me to what opportunities does this have and how do I want to handle this has helped significantly. If I had allowed those frustration to continue to cloud and darken my vision, I am not sure how long I would have been able to continue. It’s a distressing feeling when you’ve lost the vision that you had for your business. I had moments where I was literally stumbling in the dark, hoping the other shoe would not drop and this was all for not. But those flashes of what could be kept coming and I held onto them, they kept me going.

When it comes down to it, no matter how long it takes, no matter how many frustrations you need to overcome, it all comes down to time and how you spend your time. The more time you are able to focus on your business, looking at that beautiful picture in your mind and envisioning how you are going to create it, the more it will come to fruition but it takes time and action. Both of which are entirely within your control.

Check back next week, when I will discuss steps you can use now to take your hobby and make it your business.