The Journey to Becoming a Business Owner

The past few months has been a whirlwind of activities. I recently acquired the right to create and sell a product from a company that I used to consult for. It is fun, exciting and scary all at the same time. I am a Business Consultant by profession and it is my job to help business owners kickstart their companies. It wasn’t that hard when I opened my own consulting company since that is what I do for a living. My product was my technical expertise in setting up, managing, and optimizing a business. But it is a whole different ballgame to run an existing business, which I have just learned in the last couple of months.

The journey started when my client suddenly decided to switch gears and head in a different direction from what we originally planned. We were supposed to make her company more profitable by implementing a social media campaign to reinvigorate her sales influx. As I was initiating the plans we agreed upon, she turned 180-degrees on me and asked if I wanted to take over the company instead. I thought it was just to manage it for her, but apparently what she had in mind was a buyout.

I believe in her product, I believe in what it can do and the earning potential of the business concept. She has been operating her company for several years now but never really got to marketing it since she was always weighed down by the operational activities and the need to provide support to her clients. That’s why I was hired to help her out and figure the best course of action to take the company to the next level. I have been exposed to the intricacies of her business to the point where I can operate it for her if she asked me to. What I failed to see was her ‘other’ plans. Apparently, she has been questioning her own passion for her business in the last couple of months. And when she saw my enthusiasm and quick understanding of her business, she thought I could take over and make it my own.

This prompted a conversation 2 weeks ago that has changed the course of my life for the foreseeable future. Forward to now. We are finalizing the turnover of assets and rights from the current owner to myself. I am looking for new people to join me in this journey. I am giving myself a crash course in building my own website, creating logos and different graphic elements for the use of the new company. I am doing a million and one things and there is no going back. If I, being the consultant that I am, would talk to myself, I would caution myself on the breakneck speed at which I am running. Somehow, I remember all those other clients of mine whom I have guided into slowing things down so they can gain perspective and a complete grasp of things so they can make informed and well-researched decisions.

But now I see that there are times when you have to slow down and times when you have to act on things quickly or lose the momentum and the opportunity altogether. This journey that I am taking is a learning experience. Not just for me as a business owner but for the consultant side of me as well. It is teaching me that despite the need for stringent research and risk management planning, there is also a pressing need to act on things as they come. I know I have a lot more to learn in this path I have chosen to take. I know that I will encounter unknown variables that would test my knowledge and I am happy for it. This is a chance for me to improve my skills and be a better consultant to my clients. This is my new research lab where I can test new ideas on how to manage and improve a company. This is my chance to expand my horizon and create tangible products and solutions for a new niche market.

This is my journey to becoming a business owner. I will be sharing with you how it unfolds and I hope it may be helpful to those walking a similar path as I am now.

 

Until then,

Tiya Meri

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