Lessons, Vol. I by Bárbara Miranda
I have always loved the idea of curating and cultivating something of your own to put out into the world. Because this is my first official business, there were so many aspects of forming a business that I did not know and had to learn on my own. Here are some lessons or takeaways from my first year of forming Miranda ao Mar - Volume I - and all I'm still working on**
Yes, money. Love it, Need it, Take care of it. It’s so easy to fall behind in your budgeting if you aren’t careful planning for the small details. For example, you incorporate the shipping boxes into your budgeting, but forget about the shipping materials that would go inside, such as tissue paper and string… it adds up which makes it even more important to make sure you are as organized with the overhead costs as possible.
Don’t be afraid to ask for help. Especially if you have a business partner. That’s what they’re there for! For example, being new to LA and balancing my work life with managing a small business - not to mention - being 3 hours behind from my business partner, can sometimes prove to be a huge “inconvenience.” We aren’t perfect and haven’t gotten this down 100%, as you may never do so with your business - but we’re pretty damn close and I feel that this is as important as tracking your money. I’m fortunate enough to be partnered up with a very understanding team member. Sure, tensions may sometimes run high, frustrations and yes, anxiety with a splash or two of tears - but at the end of the day, nothing matters more than being partnered up with someone that will listen to you, and most importantly, respect you. That makes all the difference when conveying your worries to your partner and trying to reach a solution.
Balancing work with work.
You’re going to pull all-nighters, you’re going to be tired, and yes - you will be sacrificing most weekends. Get over it! It is SO worth it once you finally put out something of your own and see it to full fruition. It’s an indescribable feeling, mixed with passion, motivation - yet, satisfaction. There is nothing more satisfying to the creative soul than that, in my opinion. Tips? If you have a partner, remember to delegate some work you may be struggling with due to your schedule and as previously stated, communicate.
As crucial as it is to have a schedule and plan your days/weeks ahead of time, remember that it’s possible nothing actually goes down the way you’d like for it too. I would assume it’s the same reason why veteran mothers laugh when a first-time mother goes over their birthing plan? Think of building a business as having your first baby. You can prep for it and obsess over it all night long, but most importantly, learn to roll with the punches and stay on your toes. It’s so important to make sure you’re adaptable and ready to jump in with solutions when something goes awry. Remember, you may not have an answer for everything - which brings us back to: Communication. Ask for help when you need it.
When planning for your business and all your success, make sure to also plan for emergencies, setbacks, and failures. You’re not perfect and having a “Plan B” is part of the importance of being so adaptable. Not having a plan or planning for failure can be what makes or breaks your business so suddenly. Stay on your toes, don’t get discouraged, and remember - you’re okay, everything. is. fine. You are a #GRLBOSS or just #BOSS if you'd prefer. Embrace it! Every failure is a lesson, making every failure a ~blessing~ if I may.
It’s a struggle getting out of your own head - it's easy to make excuses and think of reasons to not pursue a dream: You don’t have time, you don’t have the funds, the list never ends. I’ve been there and it’s 100% your confidence and self-esteem playing tricks on you. In reality, you’ll never have the time and there will always be some reason (that you come up with) to distract you from your goals. Personally, I wasn’t really able to get the ball rolling until I set a mental launch date and weirdly enough, told people about it! When I started referring to Miranda as something “I’m currently working on” rather than “I’d like to someday own…”, it made all the difference. I think this made me feel more accountable for my dreams and made them seem more attainable or pressured me enough to make it so. Talking about Miranda made it more real and allowed me to get motivated for it. Find what motivates you, and act on it!
Remember - think of building a new business as having your first baby. I think the best part of this recurring metaphor is that I have 0 children. Anyway... from watching my older sister raise four, A LOT of people and I mean A LOT of people are going to have opinions and feedback about your company - many will be unsolicited. Take it all in with a smile and DO NOT - I repeat - DO NOT get defensive or take it to heart - I'm personally still working on this one. This is normal, every business owner, mother, and even professional athlete experiences it. At the end of the day, YOU can choose to take what feedback you want, because this is your baby. The late nights, the money, the fear, and doubt - the tears shed… they’re yours. This company, like that baby and its success in this world, is 100% your responsibility. Because you won’t be able to blame others for the business doing poorly, remember that ultimately, you’re in control. If something just doesn’t sound right - go with your gut. In fact, if your business does end up failing and there was some key advice you ignored, boom - you learned for next time! Don’t sweat it. Filter out the noise, and keep it moving. You’re doing amazing!!
It’s okay to dream ahead, just try your best to keep it to yourself if you’re seriously dreaming AHEAD. When talking about your ideas and goals to others, you don’t want to talk about your company as if you’ve been in business for 30 years and you’re looking for the next step. Start small. Your dreams change as quickly as your plans do and to avoid sounding flip-floppy and unsure, write in your journal and don’t talk about it until you’re acting on it, or about to. Just trust me on this one. Dream on - but be strategic with who you share it with!
Thank you for taking the time to visit Miranda Monthly. If you have any questions about the process of forming a business, sign up to our mailing list and watch out for Lessons, Vol. II! If you have any interest in joining our community, please feel free to reach out to me: email@example.com
If you’re not too fond of the idea of reaching out but are interested in forming your own business, here are some great sites that I found helped me the most!
- Google (literally for everything)
- Shopify & their business blogs
With so much love,