In May, our little company reached a noteworthy milestone: 20 years in business. Since 65% of new businesses fail in the first ten years, we were feeling kind of proud.
We had plans for a year of celebration including an anniversary page on our website and a memorable get together with the clients, partners and friends who had helped build our business along the way. And then Covid altered our plans. Considerably.
Just like any business story, ours was shaped by successes and failures, marked by amazing good luck and work-to-exhaustion cycles. We met the most remarkable people and learned so much from clients and partners. It’s been an honor to earn their trust as we’ve partnered to create engaging communications and build performance.
So instead of a socially-distanced slice of cake and a glass of wine, we’re sharing three principles we’ve adopted in our first 20 years. They apply to building to building a business or navigating your career. Thank you to everyone who’s taught us these lessons along the way.
1. Get prepared to be lucky.
Business success is sometimes equal parts of hard work and good luck. But luck is not sustainable. You have to be prepared. That means identifying gaps, finding partners who can do what you can’t do, and having the emotional intelligence to lead others. Do the work of being prepared.
2. Follow the strategy and be accountable.
A goal without a plan is a wish. As a new business, our goal was to stay in business. We became more sophisticated over time. Part of that is not being in love with your own ideas, focusing relentlessly on delivering the strategy, and making adjustments. When you write down an aspirational business plan, don’t put it in the drawer. Review it, update it, and hold yourself accountable for results.
3. Find a fan. Be a fan.
No matter what you role, everyone needs a fan. Everyone needs someone to believe in them, to cheer them on, to drop a positive word of encouragement when things seem bleak. Find that person for you and be that person for someone else.