Hindsight 2020: Lessons Learned for a Successful Business Do-Over

One of the greatest gifts of entrepreneurship is hindsight. Hindsight is a tool to help you assess where you are now so you can make necessary changes and move forward. It’s helpful to reflect on what could have been done differently to help yourself and also help others who may be earlier on in their business building journey.

When you are starting out, set your business up as if it will be huge regardless of how big you plan for it to be. It’s much harder to go back and change standard operating procedures, key performance indicators, team member expectations, and especially payroll once the ball gets rolling. Setting the standard in the beginning will save you the headache of negotiating down the road.

Get into the nitty-gritty of your business plan. Going into detail with regards to legal structure, taxes, ownership structure, and expense tracking are not the most exciting parts of starting a business, but they are vital aspects. Take care of those important tasks in detail from the beginning to help the business run more efficiently from the start.

Remember, your reputation is how you make people feel. Medical aesthetics is a small industry, and there’s a good chance you will run into the same people repeatedly. Develop positive relationships with colleagues, suppliers, partners, and customers. Invest in an identity that communicates your core values as a business so that these people know what to expect.

Be adaptable and flexible. Challenges that arise outside of your control will pop up. Find ways to creatively problem solve, and it will build up your resilience. Don’t be afraid to shake things up. Lean into the harder aspects of entrepreneurship. It’s never too late to make changes or start over.


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