Dare I say, May has been the most insane month of this entrepreneurship journey thus far.... and it was completely self inflicted!! In my scramble to gain clients, build a portfolio, and make a living I signed contracts for 2 wedding day coordination, full planning services for a meet and greet and a wedding, and re-lauched a local chapter of a national networking group all while picking up as many shifts that I could get at the Tmobile Arena for income.
Even though this month was pure madness, the main takeaway is that I made it through. It was rough, exhausting, stressful and mentally challenging but I made it through! Now looking back I am so grateful for the lessons learned throughout this month of madness.
Lesson #1: time management
My time management skills are still a work in progress but working so many events and being at the arena every day I could get forced me to get serious about my work time. If I had 2 hours to work, I couldn't afford to waste 30 min of it on Facebook and reading blogs. I had my task lists for each week and reviewed them and updated nightly. And with time being so tight this month I made sure my designated work time was just that, no procrastination. I put my phone on DND and made sure to remain focused on the task at hand.
Lesson #2: financial planning
Taking on so many contracted events in May meant I received payment in the months prior and had to budget to make sure I was able to make it through the month. So my actual income for May was extremely low. Also, with most of my contracts taking place on the weekends I missed out on some major income days. I make sure to look at my projected income 3 months out to ensure I am going to meet my financial goals. So far its giving me enough time to plan to make any adjustments for compacted contracts.
Lesson #3: sales and marketing
An obvious realization I had was during the planning phases of an event the last thing I have time for is sales and marketing. Procedures need to be put in place and I need to remain strict about continuing with my sales and marketing even with an event in the works. I need to get to the point where I am working from one event to the next.
Lesson #4: outsourcing
Speaking of sales and marketing, I decided to make it a goal in the near future to hire someone, at least for a couple hours a week, to do some sales and marketing tasks. If I had someone that took care of sending out proposals, replying to emails and scheduling social media it would relieve a huge task load.
Lesson #5: overextension
I also learned to be more careful in accepting contracts, to place a limit on the amount of events per month and work toward spreading them out throughout the year. Overextension is a real thing and I definitely exceeded my limit this past month. In the future I will be tactful about the events I accept.
Overall, May was crazy, hectic, exhausting, stressful, a little out of control and a great learning experience that I needed to go through as an entrepreneur.
So next time you have a rough time ask yourself "But did you die??". Laughing but serious!