Lessons from my first year

I incorporated my business, Redyn Consulting, exactly twelve months ago now. Where did the time go since then? Its gone by pretty quickly. I’m not marking the anniversary with a fancy party, but I did think it would be useful to share a couple of things I have learnt. There have been a few minor bumps on the way of course, but that’s all part of the learning process. Time has gone by very quickly. And I have developed a lot of new skills and insight. So here goes…

1 — Plan your time

Running your own business is more than just chargeable time. There is quite a lot of administration to do as well. Thankfully organisations like HMRC have much better online interfaces these days. But it is surprising how quickly administration time all adds up. And it can be time-consuming navigating new processes. So it is important to get help from the experts when you need it.

I learnt quite quickly that all of this needs to be scheduled in. As does following up leads, keeping connected in with people, and having network time. As does annual leave. Or it doesn’t happen. When your time is chargeable it does need a disciplined mindset. I’ve had a few stressed days here and there, I won’t deny. Overall, having my incorporated business has helped me learn better boundaries about time.

2 — Market yourself

As my young daughter says — cringe! Self-promotion not something which came naturally to me. I know the old adage is “its not selling its helping people buy” but even so this has been a definite mindset change. People in my line of work are selling different things — is it technical capacity, analysis or insight? Or is it reassurance and potential answers to problems that are bugging them? I’ve given a lot of thought to these kinds of questions for the first time in the last year. There is more than meets the eye. You can’t be too self-aware, to sum it up in one phrase.

Some avenues for marketing have been more successful than others. Folks don’t look for finance professionals on Insta. Not yet. But they are looking on LinkedIn. Even if hardly anyone likes the platform much. So that’s where you have to be. Particularly in hybrid working, its important you find ways to stay visible.

3 — Hell yes or no

In the last twelve months, the ability to say no has been an interesting one. In starting a business the temptation is to say yes to everything. But I have quickly learnt the sort of things I am happy to repeat, and those which I am not so fussed on next time. I quite like some variety though, so I am also mindful of keeping an eye open for new opportunities. I don’t want to be typecast as a certain type of professional problem solver. I am hoping that in the next year or two I can broaden the vista. In particular, I’d like to work more on sustainability and decarbonisation. It’s where I am sure the is some valuable and rewarding work may lie.