11 Business Lessons I Learned The Past Year

 Bracelets- Threads ((new Dino stack!)), Necklace- c/o Caroline G

((make sure you read about our contest starting tonight down below))

The business I have started and grown the past year is everything and nothing that I ever thought I would be doing. I've always known I'd own some type of business, and that I would spend my life helping people... but never did I think I'd learn how to make bracelets, start a give back company out of a tiny two bedroom condo, and be able to employ at risk American youth. It's been a blast to say the least, and it's been fun to be able to have been blogging from before this journey even started because I get to share it with you.

I've learned a lot, lot, lot this past year about business. I've learned from mistakes, opportunities, being taught, and trial and error. Some of the things I've learned are things you can't be taught in school, because they come from feeling them and being in certain situations.

Celebrating our 1 year anniversary week of Threads, tonight I want to share with you the 10 most important business lessons I've learned the past year.

1- You can do a lot of things, but you can't do everything. And if you try to do everything, you will absolutely fail. It is extremely hard for me to pass off tasks to someone else, but I have been getting a lot better at it. When I first started Threads, I really wanted to do everything by myself. I know how I want things done, I know that I'll do it, and I want it done correctly. I quickly learned that I can only do so many things at once, and if I don't delegate, everything that I want will crumble because too many things would be neglected due to lack of time. I also learned that if I do everything by myself I loose out on a lot of good ideas that I could never come up with on my own. It's important to know your limits, and what you need to pass off on someone else to complete.

2- There's power behind a team- This first year has mostly been comprised of interns, a part time employee, and my student employees. I am very selected with who I bring on to my team because Threads is my world and I want like minded people who value it the same. Take time to choose key players who will contribute and find excitement in the work you're doing. They'll help you tremendously. We're now adding on more employees and their excitement only brings the moral up.

3- If you don't believe in it, no one else will either.

4- The power of social media is limitless- I always think "I don't know what I would have done to market my business before social media! So much money and time wasted!" Social media is seriously the key to getting your product and story known. It has connected us to important supporters, donators, customers, magazines, media, everything! Creating a good budget for marketing on social media is totally worth it, and in fact, is necessary.

5- It takes money to make money- Especially in the first couple of years, every time you bring in money it will probably seem like your sending more out. That's the pattern of growth, I have learned, and the investment in better systems, employees, websites, etc, is worth it as your company grows. 

6- You can do a lot, with little- With number 5 said, it's also important to realize that you can really stretch a dollar. Don't get all fancy when you're starting. I know companies who have had tons of investment money and try to do things too big and after the first year completely flop. We've had no funding, have completely boot strapped our whole project, and I have learned what's important to spend money on, and what isn't. 

7- Networking is crucial for you and your business- Early on, I decided I would go to as many events and meet as many people as possible who I could share my story with and collaborate with. This was one of the best decisions I have ever made. By doing so, we got connect with teams like Phoenix Fashion Week, met one of the producers for a national talk show we will be featured on soon, had scholarship donations from large companies... Go meet people! They're fun! And it will open a lot of doors that otherwise you didn't even know existed.

8- Don't be afraid to make mistakes- Before last June, I had never made a bracelet before. I had not ever even wanted to make a bracelet before. There were a lot of things "going against me" to create a bracelet line that I would then teach other people how to produce, but I knew it could work. We have a lot of beautiful bracelets for sale. But we also have a box of junk that I thought would be awesome and then realized it was horrific. Practicing and making mistakes is what allows me to get better. And also laugh because I had a horrible idea.

9- Some day just suck- Let's be real, some days have been so frustrating, demanding, and stressful that I thought my entire body could collapse from exhaustion and fear. When you start your own business you can expect this to happen. In fact, you will be lying to yourself and setting yourself up for some major heartache if you don't acknowledge that it's going to be ridiculously hard sometimes. So when the days suck, suck it up and know that if you do things right things will get better.

10- Doing things for a purpose makes life so much better- Some people's ultimate goal in their life is to be incredibly rich, and they think they'd reach the ultimate happiness. If I started doing this for money, I would have quit a long time ago. The kids give me so much motivation and determination to succeed I can't even put it into words. Knowing that my actions and decisions directly affects a group of people who are counting on me brings purpose, accountability, and direction to my life. There's nothing wrong with making money. But I believe that when success comes, so does a responsibility to help those around us. I've always felt that way and can't wait for the day I can send an entire class to college. Until that day comes, I will find joy knowing the handful of people I work with have more opportunities because of the jobs I've been able to give them.

11- Listen to your customers- A while ago we had our pixie set only available at shows. People started seeing them on Instagram and asking if we could sell them online. I was hesitant at first because they are very expensive to produce. I decided that I'd try it, and they are now our top selling bracelets. We can hardly keep them in stock. But I wouldn't have known that if I didn't listen to our customers. If someone isn't happy with a service or product, do your best to fix it. Your customers are the only reason you're in business... 

I thank all of you sooo much for supporting and following us this whole time. THANK YOU.

**Don't forget to use code Celebrate at checkout all week for 20% off!

To enter today's contest, click on over to our store's site and pin one of the products onto your Pinterest board! One winner will win the item they pin :) Good Luck!

Also, make sure you enter yesterdays contest before it ends tonight. You can find it in yesterday's post.