What is the secret of success? Right decisions.
How do you make right decisions? Experience.
How do you gain experience? Wrong decisions.
I’m launching Sync Spiral in a different way.
I’ve read a ton of business books that are focused on numbers, scaling and driving revenue from the get go.
However this time feels different because Im focused on building a community first whilst also trying to support myself.
I recognise there is a balance between growing a business and burning myself out to get there.
This made me realise that there are a few differences between business lessons and life lessons that I’ve experienced along the way. I aim to incorporate and weigh up both aspects as I navigate this new venture.
Ultimately my goal is create a community of people who enjoy logging into the Sync Spiral platform and using the online videos as a tool to connect and feel good.
Here are a few of the business and life lessons I’m working on.
Business Lesson #1: Earn as much money as possible
Life lesson #1: Don’t burn yourself out to get there
That age old saying of ‘your health is your wealth’ rings true in the face of stress and burnout.
Is it possible to define future success outside of a specific number? I believe that its valuable to incorporate goals that include independence, mental health and level of flexibility as well as how much one is required to earn every month to thrive.
Each one of us would like to be financially secure. However when we pursue money as the only goal we can often become burnt out and exhausted.
This means taking the time to reflect and adjust. Regularly reflect on big goals and noticing if any signs of burnout occur.
Business lesson #2: Grow profit margins by keeping costs as low as possible
Life lesson #2: Doing everything yourself to keep costs down is not sustainable over long term
Keeping costs low is important when you’re starting out especially as costs are high to start a business and ultimately you need to recoup these expenses at some point through healthy margins. However sacrificing on spending money to acquire skills or quality product can be negative in the long run.
I definitely take it as personal challenge to learn any and every skill required to run an online business from marketing to website design. Delegating is a key skill and keeping a valuable team around you is a fundamental component of growing a successful business.
Business lesson # 3: Source as cheap as possible
Life lesson #3: Take the time to understand a supply chain if you’re creating or sourcing a physical product
Cheaper often comes with an environmental cost as well as not having any quality assurance. Utilising sustainable sources are important to keep the world thriving. This often means making a sacrifice on margins.
I think it’s exciting to find initiatives that are challenging the status quo of how things have always been done. Finding sustainable and interesting alternatives can be difficult but rewarding in the long run.
It is always going to be a balancing act launching a new business. I hope to incorporate the business and life lessons I’ve learned so far. I’m sure there is still much to be learned as I venture out.
Which is more important,” asked Big Panda,
“The journey or the destination?”
“The company.” said Tiny Dragon
James Norbury
