Going it alone in business doesn't mean doing it alone
- Martin Warrillow
- Dec 7, 2017
- 4 min read
I suffered a stroke in December 2013, which came within inches of killing me. I was 49 at the time. I had been a journalist and writer for nearly 30 years and a freelance since being made redundant at the end of 2009.
I was editing a magazine, I was writing books for clients, I was writing blogs and press releases for small businesses. And because I had been a writer for 30 years and was pretty good at it, I thought I knew what I was doing. But there was so much more to being self-employed than the writing bit. That was easy. But there was also the issue of managing my work/life balance, selling myself to potential clients and finding new clients through networking, there was the need to have a proper business plan, the need to have a good accountant, deal with him regularly and ensure I was putting money aside regularly for when HMRC came calling. And with all of that, I was winging it.
My business plan didn't even fill the back of an envelope, I made the mistake of assuming that my one big contract (editing the magazine) would be there forever, I wasn't putting enough aside for tax, I didn't have a plan B if the magazine cut me adrift (which they eventually did). No wonder my stress levels started going through the roof to the point that they caused me to have a stroke on December 16 2013, just two weeks after I lost the magazine contract.
For those two weeks, i panicked. Without a Plan B, I didn't have anywhere to turn when Plan A failed and the shock of having to find one, plus the shock of being cast aside, was too much. If I had worked out a plan, things would have been different. If I had stuck to doing what I was good at (writing) and got help with the rest, I would not have stressed myself so much. But I thought I could do everything, all the time, just by winging it.
The trouble with that is that winging it is OK as long as you are ticking along fine. It's when you hit bumps in the road that you need a plan. It's like driving a car. Going along a straight, dry, road at 60mph is OK - as long as you don't have a tyre blow out. If the tyre blows out, can you stop the car safely? Obviously, I couldn't.
That's why I believe there are two things which are absolutely crucial to any small business; have a strategic plan written out and do the things you are good at, then get help with everything else. The plan doesn't need to be an expensively-produced 100-page document - it just needs to be something you can turn to when things don't go to plan; an instruction manual, if you like. If you're not sure about any part of it, ask someone. One of the most important things to remember about being a small business owner is that you will need a support network. In corporate life, if you have a personnel problem, you can turn to the HR department. If an invoice isn't paid, the finance people will chase it. If your IT systems break, there is a department to deal with it. As a small business, there's no-one but you. So you need to know what to do when there's a problem (no ifs; there will be problems...) I didn't and it stressed me out.
And you need to have people to ask when things go wrong. We always think we are the first person to have experienced a particular problem, in business and in life. Yet there will be plenty of people who have dealt with your problem, so ask how they got round it. Too many people perceive asking for help as weakness - it's not, it's good business sense.
As well as individuals who can offer help, join an organisation. There are plenty of local and national bodies (including Northwest Business Hub, of course) who can offer advice in all sorts of areas. You might worry about the cost at first, but this is definitely a case of investing in yourself and your business to avoid more expense when things go wrong.
And don't struggle with things you don't understand, In hindsight, I wasn't marketing myself properly, marketing myself to the right people. Instead I was trying to do everything and ended up doing most of it badly.
Looking back, if I had gone into freelance work with a proper plan, I would have made a better job of it. Instead, I assumed that just by being good at the writing part of the job, I could make a successful business, because I knew plenty of ex-colleagues who had done so.
I was wrong and I have to live with the mental and physical consequences. I'm brain-damaged and medically retired at 53. I'm not saying that will happen to you if you don't 'do' small business properly, but running your own business is inherently stressful. Have a plan, get help when you need it and you have more chance of succeeding.
If you have any questions or would like help and support from the business hub , please head over to the link below.
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