If there's one thing I never need to remind myself to do, it's setting out yearly plans. It's as though I have an automatic switch in my brain, similar to when animals know when to prepare for hibernation, that just clicks whenever I reach the end of the year.
While it's still a little too early to look back at 2024, I don't think December would prove this summary wrong - it has been a hell of a ride. But because of the tremendous ups and downs, which I have never experienced in my professional life, I do feel like I have been reborn into a new perspective. I truly feel like my vision has been expanded as a small business owner.
As a solopreneur, I hit a bottleneck at the beginning of the year, struggling to see how I could further scale my business with my personal brand so integral to my company. Though the acquisition of my bubble tea shop has been very challenging, I suppose I've already hit rock bottom, hence why this month has given me a sense of relief.
Apart from having two new staff members on the team, one of whom will also be engaged in JTCM matters, helping us drive business growth in the new year. I haven't been able to go out and network as much as I usually do, but I have been able to check off one of my biggest goals this year, which is completing my EMBA program. I won't lie, the last stretch was intense. Getting my capstone ready was a huge project and effort. I'm glad it's over and I immediately see my schedule freeing up a lot.
But I suppose the most important thing that has empowered me to title this month as a broadened vision is the shifted perspective from being a bootstrapped solopreneur to really feeling like I'm a small business owner, responsible for a handful of people's monthly salary. I spent the past month conducting a lot of training sessions with the team, and I know for a fact that I have given them more than they can chew. But, at the end of the day, that's the type of team I need to push my business forward. I need them to understand the vast amount of information, tactics, and strategies involved, so they are well-equipped to start utilizing their expertise and exploring their potentials.
It's a big lesson for me to learn as well, managing employee relationships and getting them to converse and collaborate with each other. But at the moment, it seems to be going in the right direction, and I finally have the brainpower to start planning for 2025 - a year for which I have a lot of hopes and dreams.
i) Enhanced Value Proposition as a Small Business Owner
ii) Bold Expansion Initiatives to Support an Expanded Vision
i) Enhanced Value Proposition as a Small Business Owner
As I eagerly await the arrival of my EMBA certificate and prepare to virtually celebrate my graduation with my husband and my dogs by my side, I have already embraced the idea of being an EMBA graduate with immense pride. Enrolling in, let alone completing, a comprehensive business administration syllabus was something I never envisioned for myself. Through this journey, I have gained profound insights into the intricacies of running a business. One key takeaway for me has been that while business owners undertake significant risks, these risks should be calculated. It is only now that I truly grasp and appreciate the courage it takes to leave a full-time job and embark on an entrepreneurial venture - the depth of the commitment is far greater than I initially realized.
Armed with these newfound learnings, I find myself transformed as I share my story at high school workshops. The breadth of knowledge and advice I can offer has expanded significantly, now encompassing not just discovering one's passion but also delving into the intricacies of entrepreneurship. Initially, my venture into business ownership stemmed from a distaste for working under others. However, I now perceive the enchantment of entrepreneurship and am beginning to embrace, rather than fear, the excitement and risks inherent in this journey.
ii) Bold Expansion Initiatives to Support an Expanded Vision as a Small Business Owner
November was a month dedicated to regaining momentum for the bubble tea business following a challenging incident involving the hiring of an incompetent shop manager shortly after reclaiming our license. Despite its brevity, those 13 days significantly impacted how our customers perceived our brand, necessitating a swift recovery to regain their trust.
To counteract this setback, we organized 6 pop-up events in collaboration with local creatives, continued to promote our catering services diligently, and introduced a brand-new product to our lineup. The month was a whirlwind of activity, and this pace is set to continue until we witness our usual numbers reflected in our financial records.
However, the most memorable experience for me in November wasn't the adversity we faced or even the compensation I secured through the Small Claims Tribunal from the previous owners (a significant achievement). It was witnessing the bubble tea shop staff socializing at the shop even when off-duty. Observing their connection with each other fills me with a sense of pride. I earnestly hope they maintain their exceptional performance without succumbing to undue stress, ensuring that such moments of unity at the shop remain a common sight.
iii) Fresh Team Dynamics
After years of envisioning colleagues gathering in my virtual office, that dream has finally materialized. While I aim to maintain a balanced perspective—neither overly optimistic nor unduly worried about potential challenges—I have relished using this platform to engage in conversations with everyone.
In addition to the exciting news of promoting my PA to the role of Marketing Executive, we have welcomed a new PA and Growth Manager to our team. Witnessing their virtual introductions and interactions has been a highlight.
As previously mentioned, a significant portion of my time this month was dedicated to preparing and organizing the requisite documentation to onboard and integrate everyone seamlessly. The training sessions were rigorous but undeniably valuable. Here is a detailed overview of the activities conducted during those sessions.
iv) Empowering Myself
Finally, I sense a newfound peace of mind settling within me. While there are still loose ends that require my attention and plenty of tasks on my plate, the nature of my work now feels more like working "on the business" rather than "in the business," a key objective for 2024. Delegating responsibilities fills me with confidence and joy, knowing that capable hands are managing them.
Moreover, there are several significant projects on the horizon that I am eager to bring to fruition. These include finalizing a partnership crucial for the bubble tea shop, progressing with a JTCM project, outreaching for new educational opportunities, and spearheading various campaigns and strategic initiatives that I have empowered the team to undertake in order to enhance business growth.
Joyce
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