One thing I learned is that anyone can start a business but running it is another story altogether. Anyone can have a great idea, product, initiative or service. However, it is a different story implementing and growing it. This June, Maia Dreams is turning 4 years old as it was first started in June of 2018. Before that, I tried to start up Life Artistry and did that miserably for a few years. This business was first conceived as an idea of a 15 year old girl. With the sole intention to help others achieve their goals. I have always been driven and yearned for more in my life. I remember wanting to achieve so much ranging from improved health, good grades, finding a boyfriend, becoming an actress, finding a nice house, purchasing a car, just to name a few. I was able to achieve some of these things at the same time but I never knew how to achieve all of them at once. I wished that I could go somewhere and have someone help me plan my life out. I know there are businesses like that now, but my idea hasn’t yet been done but I am on the road to achieving that vision. It has taken me a while to get here but at 39 years old, I can say I have finally managed to achieve many of my life goals simultaneously. I want to help others get there faster, easier and sooner than I did. Hence, the name Maia Dreams- Maia means Confident in Maori. Maia Dreams-Confident Dreams. To have the confidence to make all your dreams a reality.
That vision for Maia Dreams has yet to encompass the full picture and they simply serve as stepping stones to get there. Running a business definitely requires one to have fortitude, the ability to accept failures, being resilient enough to keep going when there is no traction or momentum, when no one is using your services, dealing with constant rejection and judgment. Feeling absolutely confused and not knowing what to do at times. It requires adaptability, to be able to forecast and plan and so much more. Running a business is hard work but it is an amazing feeling when you are working on building your own empire. Although the business is turning 4 this year, I have already been delivering many of the services for well over a decade. So this week, I wanted to share a few of the many things I have learned along the way as I run Maia Dreams.
BE PASSIONATE
You definitely have to love what you do. If you don’t like what you are starting up, it will be difficult to wrestle with challenges. There are fun parts of the business, the outright confusing and at times, extremely difficult. When running your business, you are going to be spending a lot of time on it so it needs to be worth the sacrifice of your time, energy and money. If you're not sure, then you definitely need to take a step back to look at it again before you begin investing any of your time or funds towards it.
HAVE A BUSINESS PLAN
You should definitely have a business plan when starting a business. This will allow you and potential investors to know who you are, what your mission and vision is, what your goals are for your business, who your competitors are, what your milestones are, the strengths, and weaknesses and why you are starting a business to begin with. This allows you to have a really clear idea of your business and where you are going with it. It will also allow you to know where to invest your time and money so you are not wasting it on something that may not succeed. Or doing something that is not helping your business grow and progress.
SET YOUR BUSINESS UP RIGHT
Make sure you have the right structures in place for your business. From deciding whether to be a sole trader, limited liability, charitable trust, etc. I started off as a sole trader and we transitioned into a company this year. Definitely know your tax obligations, as well. Then, work on setting up the right fundamentals from your systems, policies, website or social media pages. Having the right documentation, paperwork, information, brochures about what you do. Knowing what your start up costs are, whether you are getting a loan, bootstrapping, funding or finding investors. Building the right structure and foundation from the beginning are important to start your business right.
SEEK THE RIGHT ADVICE
It is definitely important to find people who know more than you do about Business. They would have encountered what you are currently going through and can offer you advice to help you get to your goal faster. It is important to also seek advice from people who are in the same sector or space that you are in. Talking with people who do similar work will give you a greater idea of what you are going through and have had similar obstacles you will likely stumble upon. I have had many mentors in my business and am currently looking for a new mentor as we expand and grow.
FIND THE RIGHT PEOPLE TO SUPPORT YOU
It is important that you have the right people around you to support your vision and goals. You'll likely find those closest to you will not always be supportive and may even persuade you to not start up your business. Then, even when you have started your business, they will likely put it down as a passion project, or a fun initiative or hobby. Nearly 4 years into my work, people around me are finally acknowledging that Maia Dreams is a legitimate business. They are finally starting to support me more. I am grateful that I know those people who never doubted me and I always kept them close. They are the ones that helped me to keep focused when I felt like giving up.
DOCUMENT EVERYTHING
Document everything that you do in your business. It is a great way to reflect on the failures, the obstacles, the difficulties, the wins and the things you can improve on. It is also good research and evidence that can help you build your personal blueprint for your business. Research concludes 21.5% of startups fail in the first year, 30% in the second year, 50% in the fifth year, and 70% in their 10th year. So learn and document as much as you can because knowing as much about your business helps you to know what is happening in all areas and what you should be forecasting moving forward.
YOU DON’T HAVE TO KNOW EVERYTHING
There is so much to do in your business that you are never going to get everything done. You are never going to know how to do everything. That has been a big lesson for me that I still continue to learn. You have to wear so many hats in the beginning of your business. I had to do admin work, sales, marketing, delivery, facilitating, funding applications, meetings, data entry, software development, graphics and more. Eventually, I have been able to work towards hiring the right people to help me grow. You need to be spending 20% of your time on bringing in the most important parts of your business like bringing in the revenue, securing large contracts, etc. You cannot know everything and you don’t have to. It is a journey and sometimes, you won’t get it right. Especially when you start to grow, when you have more staff, you need to hire people to do one off contracts, ongoing contracts, creating plans for your business goals, when you are selling out, selling more products. It’s an ongoing journey so take it one step at a time.
KNOW YOUR BUSINESS MORE THAN ANYONE ELSE
Following the last point, you learn to do so many different roles within your business. It definitely wasn’t by choice but I am glad to have learned so much. As I mentioned before, it has helped me have a greater understanding of the many areas of my business; from emailing customers, connecting with potential clients, nurturing past and current customers, building shareholder relationships, applying for funding, creating the graphics for our resources, learning about my finances, spreadsheets, setting up landing pages, websites, developing and creating programmes, invoicing, securing contracts, facilitating and delivering programmes. Researching the latest development and following trends for the business. Running social media pages to promote Brand awareness. Train Staff and Facilitators. So as Maia Dreams starts to grow I have a better idea of what my staff will be working on and what they may encounter. I know what we can and need to be working on and how I can help my staff, contractors and Facilitators.
HIRE THE RIGHT PEOPLE
Who you hire can either hinder or grow your business, especially when you are first starting out. I have had around 15 contractors and staff over these last 4 years and there have been a few that weren't the right fit. This can make growing a little hard and it doesn't create a very healthy environment. So hiring the right people is an important decision.
Here are a few Tips that I have found helpful:
Make sure they fit the values and mission of your business.
Make sure they are the right fit for you, the current team and what you are trying to achieve.
Hire people that know more than you do about the area you are hiring them for. Or be passionate to learn.
Hire people that are committed and have great work ethics.
Hire people that see your vision and share a similar one.
Hire people that enjoy their lives and are willing to be adaptable, open and willing to develop themselves.
Know how to manage themselves and times.
Are reliable and willing to learn.
CONSTANTLY WORK ON YOURSELF AND YOUR DEVELOPMENT
I am definitely a work in progress and I am consistently working on myself. I try my best everyday to see how I can improve my processes, the way I work, my values, how I live my life, how I treat my staff and contractors and am always analyzing these things. Always be open to change, to learning from everyone in your business as everyone is valuable and should be treated that way. Always look where you can improve and do your best to improve daily. I am always working on how I can set up my day to achieve my best but am also learning how to not overwork which I do too much off. Again, I am a work in progress.
CREATE AN ENVIRONMENT OF SUCCESS
This is something I am working on developing for Maia Dreams. An environment where everyone is valued, where everyone feels heard, where everyone feels safe, understood and is continuously progressing. This is important to me because my last job before I started Maia Dreams was for a large corporate organisation. I never felt valued, my ideas were too big, my skills, expertise and vision were never included or heard and I constantly felt minimised. I feel that if we support someone who is passionate to achieve their ideas within Maia Dreams and wants to include their skills and ideas into improving what we do. What a shame to not include what they could offer your business.
ARE YOU WILLING TO DO WHAT IT TAKES?
Starting a business is a very daunting endeavor but it is worth it when you love what you do. To be able to work on building an empire for yourself, your family and to help those around you is a worthy cause and can be extremely fulfilling. If you are willing to do it knowing that it will not be an easy road. That it will be like a constant rollercoaster of emotions, sometimes draining, confusing, and financially taxing. Then moments when you have happy staff, satisfied customers and then you have secured a large contact. The next day you may forget an important meeting with a client or a customer, unconsciously disregard a valued member of your staff, or offend someone in a meeting. Then, the next day, you are being praised for what you do. If you are willing to go through whatever it takes, then I say do it.
In running Maia Dreams, I have experienced every emotion and feeling under the sun. Dealt with the most supportive as well as the most judgemental people all along the way. I have experienced moments where no one turned up to my workshop I spent a month preparing for. Now, we have workshops where 87 people have registered. I have had times where I paid out of my own pocket or delivered programmes for free to now delivering a programme for thousands of dollars. I have had moments where I was juggling more hats than I could keep up with and now I have more people to help the company grow. It has been a magnificent journey of highs and lows but it has been an equally amazing experience to see the growth and expansion of Maia Dreams.
Photography Credit: Charlotte Anderson
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