14 Lessons I WISHED I Knew Before Starting A Business!
Oct 08, 2024
On October 1st, 2010 I GRAND OPENED The Cake Mamas bakery in Glendora, California. I was terrified, anxious, EXCITED, and didn’t know what this next season of life was going to look like.
Little did I know that this bakery I was building from my home would turn into a 7-figure business, be featured on Food Network, not once, not twice but three times, would expand into two locations, and lead me to my new chapter of coaching and consulting other bakery owners to do the same.
Over the last 14 years, 10 being in my storefront, I learned a SH*T ton of lessons and I wanna share them with you in the hopes that they inspire you, validate you, offer a new perspective, and maybe even warn you. 😆
- Don’t expect your friends and family to be your biggest supporters. They are NOT your target audience. They will support you when you first start, maybe even buy a cake or two out of love, obligation or pity, but once your prices reflect “fair market value”, they’ll be the first to ghost you, (and the first to expect discounts). Build a business for and around your ideal clients, not your friends & family.
- Just because you love something today, doesn’t mean you’ll love it forever. Be okay knowing that you’re building something you love and are interested in RIGHT NOW. It’s totally normal to outgrow passions/professions/hobbies, so don’t be surprised if in a few years, your interests shift. (When I started bodybuilding and getting really into health/fitness, I wished I owned a health food store, not a bakery! Be okay with the fact that personal evolution is natural.
- Mixing family and business can be complicated. Sure you’ve heard this before, but it’s particularly delicate when it comes to partnerships, investment deals, and leading/managing family members on day-to-day business tasks. If you’re not naturally someone who can initiate or handle tough conversations, this will be extremely difficult to navigate.
- You’ll always be faced with challenges. Don’t panic, just prepare. Don’t pray to be problem-free, pray for more strength and wisdom to solve your problems. (Bonus: Overcoming difficult times is what builds confidence! So lean in and get good at it, because THIS is the job!)
- It’s okay to SAY NO (often). It's okay to set BOUNDARIES. In fact, boundaries ARE NECESSARY! No working until 2 am, then complaining about it. Creating balance is only possible with boundaries. Own your business, don't let your business own you. Stay true to those priorities. SAY NO, often! (And “No” is a complete sentence.)
- Administrative tasks are NECESSARY in business! You don't have to do them, but they need to be handled by someone! Admin work (taxes, payroll, understanding the law/regulations, managing finances, adjusting your pricing, organizing your processes) is the unglamorous, but necessary part of running a business. Do not neglect this or it’ll cost you tons of money and tears!
- Your struggles are NOT unique. Ouch. Your story is not special, your circumstances aren’t unique. EVERYONE experiences business struggles. You're not the only one. You’re also NOT the victim. This is tough work, so you need to develop some resilience when it comes to overcoming obstacles. SEEK HELP from those who can relate to you or offer advice. Preferably someone who has been through what you’re going through.
- It’s hard. Really hard. Give yourself grace and remember that you're trying to do something you've never done before. You're trying to learn and scour the earth for information that will help you be successful. But you'll run into so many roadblocks! Why?... Because you’ve never done this before! And that's okay. You can learn, pivot, and learn some more, but don’t quit when it’s hard! And definitely don’t expect it to be easy!
- It’s LONELY AF. Running a business can feel extremely isolating because no one can truly understand your challenges, other than a fellow entrepreneur. So find a supportive and understanding tribe! (I recommend my Tribe of over 30k+ business owners in the baking/small business community from all over the world! You can sign up for weekly tips/inspiration for free here: https://www.janellecopeland.com/email-sign-up
- Marketing is a job. (A full-time gig!) And sharing the message of why people should love/buy from your business, and finding customers to buy, is one of the most important! You probably won't love it, let alone know how to do it. So treat it as such. LEARN about marketing strategies, implement a plan, and take it seriously. (And if you don’t know where to start, I’d love to be your coach! You can learn more about how I can help here: www.janellecopeland.com/about
- Everything is your responsibility. It may not be your fault, but it's always your responsibility! READ THAT AGAIN! Bonus: Small problems, unattended to, always become big problems. So no procrastinating on the small things because there’s no one to blame when things go wrong, except your personal oversight.
- Leadership is the MOST underdeveloped skill in business ownership. There's no prize or award for being a "one-woman-show", so hire help early, and realize that the business can not/will not grow with just you. Also, there are very few bad employees, but there are TONS of bad leaders! Organization, tone, tact, and emotionless delivery are key to good leadership.
- Don’t be so sensitive. You can’t take everything to heart. Clients will annoy you, employees will disappoint you, and people in your industry will hurt you. Grow some thicker skin and don't take things so personally. Especially negative Yelp reviews! Use the feedback to refine and improve whatever it is, even if it may not be valid feedback!
- The speed at which you make decisions sets the speed of your business. Every time you hesitate or overthink, your business slows down. Making quick, confident decisions—whether it’s about hiring, pricing, or marketing—keeps things moving forward. You don’t have to be perfect, but you do have to be decisive. Your business can only move as fast as you do!
From one business owner to another, you’re ALWAYS going to be learning. Whether that’s through daily wins or challenges in your business, just remember that these experiences and lessons are what will PROPEL you forward and help you grow throughout your business journey.
If you LOVED these lessons and they’ve resonated with you, I share my entire business blueprint (and all the LESSONS I learned over a decade of running my baking business) inside my business masterclass, Passion To Profit! You can learn more about it here: https://www.janellecopeland.com/about
Wishing you NOTHING but continued success on your business journey, friend!