I took A Huge Risk
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Self-Employment is a game of risks.
As entrepreneurs, we are constantly taking risks. No matter how long you’ve been self-employed, nothing is guaranteed, but that doesn’t mean we never reach a point in our career where the risk ratio lowers.
For instance, as you grow you business, social media platforms and connections with your audience, you’re lowering the risk of if you’re next launch will be successful or not.
There’s good risks and then there’s nerve racking this might blow up in my face risks.
A good risk - is when you’re about to do something that has the potential of exponentially growing your business, but if it falls through, nothing horrible or negative will happen to your business. The worst thing that could happen is that you spent hours working on this project that didn’t work out.
A nerve racking this might blow up in my face risk - is one that has the potential of doing the exact opposite. Worst case scenario, your business might go broke and you lost it all.
As early stage entrepreneurs we tend to take risks leaning towards good risks or the inbetween of the good and the nerve racking.
Here are 3 big risks I’ve taken as an entrepreneur
... and the last one I mention is most recent and still has the opportunity to bite me in the ass.
Risk 1: Becoming an entrepreneur:
Choosing to leave the corporate world to pursue self-employment was one of the biggest life changing decisions that I’ve ever made. All through high school I had always said that I was going to work for myself, create something from the ground up. I have been working since I was 15, and in order to afford college I had to work. This was when I was the Marketing Coordinator for a corporate restaurant and flying high on the corporate networking world where they shmoozed your with good food and even better drinks.
Needless to say when I graduated with my bachelors in Graphic Design and Marketing, my dream of working for myself was hidden at the prospects of what the corporate design and marketing world could “provide” for me.
Fast forward through years of toxic environments and at the time - undiagnosed ADHD burnout - I decided I was tired of my Marketing and Design ideas becoming someone else’s genius... 3 months after I introduced the concept and execution plan.
This was a risk I was willing to take because I knew my talent, my potential, and my ability to find ways to make it work. I was also privileged enough to have a partner not only cheering my dreams on but willing to let me lean on him if I needed to.
The same day I chose to put my two weeks notice in I got fire - I was risk blocked.
But I wanted to mention this one because it’s what started it all and had they not fired me, and I received my severance package, the risk of leaving my comfy corporate job with no back up other than networking for freelance graphic design clients - could have turned out a lot worse.
Risk 2: Shifting my self-employed career:
After initially becoming self-employed, I had decided to follow a long lost dream of starting a product shop. Ironically, the product I chose had nothing to do with my past career or my profession at all. I had always wanted to make homemade - all natural candles - and I was fucking good at it.
During my initial launch exceeded expectations and continued to sell out at every craft show, art show and almost every location I was in. And to all my product shop owners listening - this success was all in person success. I had less than 500 followers on instagram at the time, and barely any sales on etsy, but I found ways to blow up my business even if it looked like I was still small online. Which what kickstarted why friends and other product businesses would reach out to me asking for advice, and why I started Her Messy Bun - my third business I was excited to include into the mix.
OK! Now that you have back story - the risk I took was almost a year after running Her Messy Bun Creative Consulting and Podcast, I was stretched thin. And as someone who values burnout prevention and sustainable productivity I had to make make a decision.
Which is why after 10 months of running 3 businesses - I sold my candle business to have more time pursue what would come from Her Messy Bun. And at the time my candle shop was bringing just under half of my income.
Risk 3: Purposely declining clients:
THIS! This is the biggest risk I’ve taken since becoming self-employed. This risk while still educated and semi-safe, still has the potential to totally blow up in my face.
One of the most common phrases/quotes that I’ve heard in the last 5 years of growing my businesses was “you need multiple streams of income to fall back on”. At this point in my career, I have successfully run and operated 3 businesses:
my service based graphic design and marketing company that I’ve had since leaving corporate
my profitable product based candle business that I was able to sell for a nice profit
and finally Her Messy Bun - a content creation based business that has become my dream business
I took a huge risk ALL of last year by not only turning down new graphic design clients, but also choosing NOT to renew ANY of the contracts I had - including one that before the pandemic would bring almost $10k a month.
My Graphic Design clients were over 50% of my income. At one point even with the 2 other businesses, they were 75% of my income and what gave us the financial freedom we’d always hoped for. Including the finances to be able to afford to start hiring a team, travel when we wanted, and buy a home for our family. I even got rid of my “big fish client” who before covid had replaced my cushy corporate salary.
2022 Marks the start of giving 100% of my time and effort into Her Messy Bun. A risk that doesn’t really feel like a risk at all.
My graphic design clients - while profitable - had corporate energy and like I said early, as someone who values burnout prevention and sustainable productivity - I could no longer justify continuing on that path.
I took these pay cuts and risks to help me achieve my long term goals and visions I have with Her Messy Bun and I’ve never been happier!
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Until next time!
xo Danielle
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Danielle’s TikTok: @her.messy.bun
