Year 1: Lessons in business

starting a business over 40

I started Blue Lotus Collective about a year ago, and I’m here to tell you that everything you’ve heard about entrepreneurship is true. In just one year, I’ve learned so much. I’ve had highs and lows, fails and triumphs and have basically worked non-stop, as I was told I would. 

Here are a few things that I’ve learned that I would love to share with you:⠀⠀⠀⠀⠀⠀⠀⠀
1. There’s no such thing as 9-5. But then again, I never had a 9-5 kind of job. However, when it’s your own company – your vision, your dream – you do it out of love, not obligation. Your work hours are irregular and fueled by inspiration, energy and passion (or exhaustion).

Related: Starting a business after 40⠀⠀⠀⠀
2. It can be lonely. Even though my business partner Lidia and I work out of an office together, it can still feel like we’re isolated from the world. When we’re not together, we’re working alone at night or at coffee shops. It can feel like it’s just you and the screen most times.⠀⠀⠀⠀
3. Pay day means investing back into the company. We love when those checks come in, but we don’t see all of it. If you want your business to grow, you have to pay for things to help you run it. When it comes to digital marketing you have to invest in listening tools, schedulers and a list of other things to help things run smoothly. ⠀⠀⠀
4. You must value your work and time. Don’t be afraid to have the money talk, create and stick to contracts, set policies in place. Make sure everything is clear and in place. Respect yourself as a business owner, and your client will in turn respect your work and time. If they don’t, you will need to re-evaluate the relationship. 
5. Celebrate your successes. Lidia and I like to attend events, grab a meal or see an art show. It’s our way of rewarding ourselves for all the hard work we put in 7 days a week. Number #1 rule: We don’t talk about work! We actually use this time to unwind. ⠀⠀⠀⠀⠀⠀⠀⠀⠀

I know this new quarter and fiscal year will bring in so many more learning experiences. I’m up for it though. Running a business is actually something that I feel runs in my DNA, as someone who comes from a family of business owners. It’s a lot of work but something about it feels super natural to me. It feels right. 

If you’re new to entrepreneurial life, I hope this list helped in some way. It’s not all pretty gram “boss” pics. There are many ups and downs…but I promise you, it’s worth it.

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