Hard Lessons Every Business Owner Should Learn

As business owners, we often need to give more thought to our actions, especially when they involve clients. Over the years, I’ve learned some of the hardest lessons, and I hope sharing them will save you time and misery.

Be Careful Who You Surround Yourself With in Front of Clients

A few years ago, I made the mistake of inviting a “friend” to an event. She was out of work, and I thought this event might help her get back into her field. The Vice President (VP) of the company I was working with offered me a ride to the event, but I waited in the lobby with her while he got ready.

From the very beginning, there were warning signs. She complained about walking too fast, had one drink too many, and became increasingly loud and disruptive. Despite my attempts to manage the situation, she embarrassed herself (and me) in front of my client. She even went as far as asking people for business cards, which they awkwardly refused to provide.

The following day, I realized the damage was done. Although the client continued to do business with me, I was never invited to their events again, even after three years. I should have known better—this person had a history of drinking problems, and I should have never invited her in the first place.

Lesson Learned:

Always surround yourself with people who have as much to lose as you do. True friends won’t jeopardize your reputation or your business. Know who you can trust, and don’t let others’ issues become your burden.

Develop a Relationship with Your Clients

In my field, I used to call clients only when I needed something. One client called me out on this, and it was a wake-up call. Building relationships with clients isn’t just about business—it’s about trust.

Take the time to learn about your clients and what interests them. Reach out occasionally just to check in, not just to pitch. This small effort will set you apart from competitors who only see clients as dollar signs.

Take a Vacation

Taking a vacation is something I rarely do, but it’s so important. As entrepreneurs, we often fear leaving our businesses, but the truth is, your business can survive a few days without you. When you return, you’ll have fresh energy, a new perspective, and better focus.

Even a short staycation at a local resort can do wonders for your mindset. Don’t underestimate the power of taking a break.

Treat Yourself

Set aside time to treat yourself. Whether it’s lunch, a movie, or a museum visit, make it a habit to do something enjoyable at least once a week. If you’re over 50, organizations like AARP offer great deals on restaurants and entertainment. Take this time to recharge, either alone or with a positive entrepreneur.

Watch Your Accounting and Taxes

This one is simple but critical: keep your finances in order. Stay on top of your accounting and taxes to avoid unnecessary stress and complications. Enough said.

Step Away to Create Growth

Take time off a couple of times a month to attend seminars, networking events, or meetings that can help your business grow. Stepping away from your daily grind allows you to gain new insights and ideas that can fuel your success.

Competitors Can Be Dirty

When you’re on top, staying there is a challenge. Competitors may try to undermine you, but the best defense is to stay professional and informed. Build strong relationships with your clients—they’ll often look out for you and provide valuable insights about competitors and even your employees.

Make Appearances but Never Isolate Yourself

At one point, I was content to stay behind the scenes, do the work, and collect the money. But that’s a mistake. Networking is crucial for growth. Attend events, make an impression, and connect with the VIPs. However, don’t overstay your welcome—make your presence felt and leave them wanting more.

Spend Your Day Wisely

Stay off social media during work hours unless it’s LinkedIn or part of your marketing strategy. Platforms like Facebook and Twitter can be huge time-wasters. Avoid distractions and focus on activities that drive results.

Take Care of Yourself and Work Out

Your health is your greatest asset as an entrepreneur. Hire a qualified trainer and commit to regular workouts. A healthy body opens doors and boosts your confidence. Avoid chain gym trainers—they often lack proper qualifications. Invest in your health, and it will pay dividends in your business and personal life.

Final Thoughts

Running a business is a journey filled with lessons. Surround yourself with trustworthy people, build meaningful relationships with clients, and never forget to take care of yourself. These small but powerful actions will help you grow both personally and professionally.