Here’s To Another Year (of Lessons, Learning, and Growth)
This past Monday, Formada celebrated its seventh anniversary. Seven years. Even as I’m writing this, it’s hard to believe that we’ve been in business for the better part of a decade now. But we have, and I couldn’t feel more proud.
When Garrett and I first discussed going into business together, the world of marketing (and the world, in general!) was very different. We weren’t entirely certain what this business would look like, but what we did know is that we needed to make a change in our professional lives.
We had hit a ceiling in the organization we were working in, and though we were grateful for the opportunities we earned there, we both knew that we were capable of more. Pursue our own mission. Build our own team. Create something that was ours. And so we did.
The process hasn’t been without its hiccups, but I’ve learned that that’s just part of the process. I’ve learned so many lessons in the last seven years, one of which is that I’m going to be learning many, many more as we continue this journey.
So, in honor of our seven years in business, here are seven important lessons I’ve learned along the way.
Where You Think You’re Going and Where You’re Actually Going Are Two Different Things
When Garrett and I first started the business, we thought that we would be focusing solely on social media advertising. I mean, we were initially named Formada Social. But our aim became much broader.
We very quickly learned that the market wanted something different. We’d have conversations with client prospects, learn about their goals and the problems that they faced, and a very different picture emerged. So we adapted.
Sometimes you have to stick to your guns, and sometimes you have to read the room, tear up the plan, and start over.
It taught us a lot about being flexible. It’s a lesson that we still very much abide by — build a foundation strong enough that you can endure countless adaptations.
But you’re never going to learn this until you take the first step. You have to get started in order to realize this. It can’t just live in your head. Be brave enough to try and be humble enough to make adjustments where necessary.
You Don’t Have To Say Yes To Everything
When we first started the business, we didn’t have a clear picture of what our “ideal client” looked like. How could we have? We just knew that we needed clients. And thank goodness for those folks who trusted us from day one with their business.
We really wouldn’t be here without them. Seriously.
During that critical period of time in the business, we were willing to do pretty much anything we could in order to generate revenue. We had to start somewhere.
It’s one thing to have a vision for what your successful business will look like, and it’s another thing entirely to get people to say yes to what you’re selling. And in order to get them to say you, you often find yourself saying yes…to everything.
Things can feel desperate. You feel like an imposter. But you have to keep moving forward.
Eventually, as the business grows, you find yourself with an entirely different state of mind, with a clearer sense of what you want the business to be and how it can best serve your clients, your team, and your goals.
You learn that you have a choice in how you direct the business. Believe it or not, you actually have the power to say “no” once in a while!
Eventually, you realize that saying yes to everything doesn’t make you easy to work with. More often than not, it places an unnecessary burden on your team while showing them that they should also say yes to everything.
You learn to lead through your decision making. You make better recommendations to your clients by making recommendations with confidence vs. urgency.
Being decisive isn’t always easy, but it’s better than the doubt you create by not being able to commit.
Find a Mentor (and Be a Mentor)
Unless you’re a serial entrepreneur, building a business isn’t something that you’ve done before. So where do you really start? I’m not talking about the idea — I’m talking about the action.
Sure, when you’re working for someone else, it seems easy, but when you’re finally in the driver’s seat, you’re overwhelmed by all of the things you never had to think about when you were someone else’s employee.
Business plans, licensing, taxes, payroll, hiring a team, building a sales pipeline, developing a marketing strategy. It’s a lot of hats for only a few heads.
And let’s not forget, your clients have given you trust and money and time. Your team is relying on your leadership. Suddenly, lives are depending on you to make good on your word. Eek.
Before Garrett and I started Formada, this is exactly what I was wishing for: To be in control. To take things further than I was able to in my prior professional experiences.
I knew that we could do it, but what I couldn’t have predicted was that there would be no road map. You soon realize that everyone is just kinda making it up as they go along, which is why it’s absolutely critical to surround yourself with mentors who have created a level of success that you admire.
Over the last several years, I’ve had so many informative and inspiring discussions with people who were once just like me, who have since gone on to create massive success for themselves, and to get their ear and advice is something that I cannot express enough gratitude for. These conversations have kept me going. They’ve reminded me why we started this business in the first place and have reinforced my confidence in myself and in our team that we really can do this, because we are doing this.
It’s so important to be humble. To listen and learn. And to make certain that you pay it forward by spending time with other folks who are tipping their toes into the world of entrepreneurship.
You’ll find that the world is a lot smaller than you first thought. And that how you treat others really matters, because it all comes back to you eventually.
Leadership Can Be Lonely
Being a business owner is a unique experience. Not everyone can relate to it. And, admittedly, it changes you. There’s no way it couldn’t. But what I didn’t anticipate was this: Starting your own business can change the dynamics of your professional and personal relationships.
It just does. Some of these changes are good. Some of them, less so.
The reality is that many of our relationships stem from shared interests and experiences. Nothing unusual about that. And being that we tend to spend a lot of time with our co-workers, those environments are often a source for relationships and friendships.
But what if you’re the business owner of a fully remote agency?
And what if some folks around you don’t necessarily understand how your life is changing?
Unfortunately, that’s kinda the way it goes. Your circle gets a little smaller. But it gets stronger, and then, eventually, you learn is that there are countless folks out there who are in the same boat as you.
Your community grows. Old friends, new friends, and a whole slew of experiences beyond anything you could have imagined just a few years prior.
I’ve met countless wonderful people over the last seven years, and I feel more immersed in new relationships than I ever have in my adult life. You just have to give it time and invest in the people who want you to win. (Because you want them to win, too!)
Taking Care of Yourself Is Taking Care of the Business
I don’t mind admitting that I’ve lost a little sleep over the years. Well, more than a little. Let’s say…a lot. I think about the business constantly.
That hasn’t really changed. The specific things that have consumed my mind over the years have changed, but my focus on growing the business has never wavered. There’s always something we can do just a little bit better, and if we haven’t given it the attention it deserves, it can feel all-consuming.
But I’ve learned that if I’m not taking care of myself, then I’m not really capable of taking care of our team or our clients (or my family) in the way that I want to.
I know that I’ve talked a lot about my experience with my personal trainer, but I really can’t undersell the impact that my work with Alisa has had on my life.
Our work together has had a profound effect on my mind and my body. It’s taught me about endurance, about challenging myself, and, perhaps overall, about the importance of showing up every session in order to make those incremental steps that lead you to achieving the big goal.
My mind is clearer. My body is stronger. I’m more determined than ever. Without our work together, I wouldn’t have the same level of energy.
That’s the power of collaborating with someone who understands your goals and holds you accountable. I take the same approach to our work in the business. We set goals, and we hold each other accountable. It’s just like the gym: You keep showing up, you do the work, and you achieve those results. It’s a simple formula, but without discipline and accountability, you’re never gonna get there.
Choose the Right Partner(s)
I firmly believe that Formada still exists today because of the dynamic that Garrett and I share. We’ve grown a ton over the years, but we’ve had an immense amount of respect for each other since day one.
Garrett and I had worked together in the past, and while I knew that we shared similar values and had very similar life goals, I couldn’t have predicted how well we would work together in this capacity.
Our work styles are polar opposites, but our ethics complement each other perfectly. He is analytical, operationally minded, and highly technical. I’m more instinctive, more focused on relationships and feelings, and have a knack for the financial side of things.
Plus, I just really like the guy. (And I’d wager he’d say the same about me.)
Through our partnership, we’ve built an incredible team that has put in countless hours of incredible work. We trust each other. We believe in one another.
Over the years, our families have become close, and I consider Garrett and Racheal true friends.
Years ago, before we started Formada, I remember telling my husband that I wanted to quit my job and start a digital agency with Garrett. With zero hesitation, he said, “Go for it.” He didn’t blink. He knew, just like I did, that it was the right move.
You need people in your life that believe in you, that will give you the nudge you need to take the next step, even when your goal seems far-fetched. The real ones will support you. Choose carefully.
It’s Worth Betting On Yourself. (Who Else Is Going To?)
Entrepreneurship can be a rocky road, but I wouldn’t trade this life for anything else.
Garrett and I saw a gap filled it. We’re helping businesses grow. We’ve built a great team. We’re showing our kids that you can take control of your own destiny, be your own boss, and build your own world.
There’s so much to be grateful for, and so much more to accomplish.
Thank you all for being a part of the Formada story. I’m so grateful to everyone who has chosen to work with us, support us, and help us make this dream a reality.
And for those of you who are on the fence about starting your own business: Go for it. Bet on yourself. It won’t be easy, but it will be worth it, and I’ll be rooting for you every step of the way!
Interest in learning more about how Formada can help you grow your business? Let’s talk! Contact me today.