5 Soul Tips for New Entrepeneurs

There are so many business owners out there these days that care so much about making profits that they end up missing out living a healthy and happy lifestyle. Starting a business is great, but a business focused solely on maximizing profits is a recipe for anxiety and depression. Think about the constant fatigue of rushing around trying to get as much work done as humanly possible in order to make all the money you can, always trying to beat the competition, and continue lowering your prices to match theirs. It’s exhausting, and it’s not healthy. It’s not healthy for you, your business, your employees or your community. If you’re a new business owner or thinking about becoming one, below are 5 tips that I hope you’ll get something out of to help you be happy and healthy in your business endeavors as well as build a company that is healthy and good for the world as well.

  1. Slow Down & Focus on Quality Service & Products- There are too many companies out there selling cheap crap and bad service. You don’t want to be one of them. Slow down and focus on offering quality services and products. If this means slowing down and losing some profits so be it. This is what is wrong with so many companies. They are so greedy that they don’t care that they are rushing through jobs and doing bad work. Not only is this a bad thing for the world, it’s bad for you and your health, too. Greed and too much want hurts your soul, and rushing around frantically everywhere and trying to produce all you can without taking your time creates a lot of stress.
  2. Practice Patience- It’s good to market your company, but don’t worry too much about how fast it’s growing. You can’t control that ultimately anyways. Just focus mainly on producing a quality service & or goods for your community, something unique and special and let God grow your season in due time. You don’t want to market too much until you’re ready. Your company is like a tree. You need to establish those deep roots first, and then start growing slowly after words into a tree that won’t easily be blown over through times ahead. It will have a strong foundation, and eventually it will burst forth into a beautiful tree bursting forth with leaves, branches and an unending supply of fruit.
  3. Pay Yourself & Your Employees Well- If you want to have good, happy, long term employees you need to pay them well. If their happy they’ll do a good job, and in turn your customers will be happy. And the same goes for you as well as the owner. If you are not paid well, you will not be happy just like your employees. You need to pay yourself a fair wage for what you are doing. For example, I’m a private tutor at the moment. I used to charge $25 an hour for tutoring services, but eventually, I started not feeling as though it was worth driving to someone’s house and tutoring them for that price. In turn, I started getting lazy while I was tutoring and bored. I was less enthusiastic and a bad tutor for a season. I needed to pay myself more in order to enjoy tutoring and be happy. Thus,  I upped my rate to $35 for 50 minutes sessions. Less time and more money. Now I’m a happy camper and enjoy my job, and not only that I have much more energy and have much more enthusiasm in my tutoring sessions as well.
  4. Charge A High Price For Your Products- If you want to pay yourself and your employees well, this means charging a high price for your goods or services. So that means if you run a coffee shop like Starbucks which many people deem overpriced, you really do need to be charging $3.00 – $ 5.00 for a cup of coffee. If you are giving your customers quality service and quality products, and you want to be able to treat you employees well, you’re going to need to charge a premium price. I used to think that companies who charged a high price for their services were ripping people off and corrupt companies. Then, I started a couple of businesses and realized in order to pay myself and employees enough, pay for overhead and taxes, I had no choice but to charge a fairly high price. Think of all that goes into those cups of coffee at Starbucks. You’ve got all the servers at the restaurant who need to be paid, and then you have the owner and all the higher ups salaries to be paid. As well as the materials and thousands of other little things that go into getting that cup of coffee in your hand. That cup of coffee is worth every bit of the price. The same goes for every other business, they have to pay for all the employees in the company, advertising and thousands of other overhead related items. After that’s taken out and taxes there usually isn’t a lot left for the owner.
  5. Go All In & Have Faith- It’s easy to try to start thinking of back up plans when starting a business in case it doesn’t work out, but this isn’t a healthy mindset. You don’t need one foot in and one foot out the door. You need to go all in if you expect to make it work, and just have faith that if you continually put in the work it God will grow the business. And in the end if it all crashes and burns, you can then start deciding what your plan B will be, not a moment before. That’s the attitude you need to have. I’m all in even if it crashes and burns. I’ll worry about that if it happens, otherwise I’m expecting this to work out.
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