3 Things To Never Do As a Small Business Owner

Did you know that Honeycomb Credit has a podcast now? Thank You, Come Again is now online with all the best tips and tricks for small business owners.

Each episode features a local small business owner who gives some solid advice from their hard-earned experience. The first episode, we spoke with Victoria Smith, former owner of Pittsburgh’s first flower truck Victoria’s Mobile Flower Shop, and she shared with us these three things to never do as a small business owner.

Victoria started Victoria’s Mobile Flower Shop because she was looking to bring some color to gray Pittsburgh winters and springs, and she purchased a truck with her tax return, fixed it up, and the rest is history.

If you want to listen for yourself, you can do so here, but here’s the low-down in blog form as well.

Don’t compare yourself to Others

Victoria says that one of the first things she’d never do again is measuring her business and herself against the measuring stick of what she was seeing on Instagram. She’d see businesses in operation for way longer than her with more resources, and doing things way beyond what she was able to do, and she felt a need to be just as good as them, if not better, immediately.

However, she took a step back and realized that where she was was ultimately okay. All comparing herself to others did was squash her creativity, make her feel bitter towards other business owners, and make her attention scatter.

Don’t hustle your way to burnout

Victoria told us that when the pandemic caused the world to essentially shut down, she was actually a bit relieved - when she was caught up in the business of running a small business, she didn’t realize how badly she needed a break. With a busy schedule with the flower truck’s pop-ups and events, she was getting close to the edge of burnout. She was worried people would think she was complaining, but how could she be expected to continue running the business if it was making her feel like this? It got to the point that once, after an event wrapped up, Victoria called an ambulance for herself because she had just been pushing herself too far.

Friends and family came to her aid to help a bit at events, but eventually Victoria realized that she needed to make some major changes. The pandemic allowed Victoria to press the pause button for a second and reassess how to sustainably run her business.

Don’t white knuckle your finances

Victoria told us that she was paralyzed with anxiety when asked to open up Quickbooks or pay taxes. She was afraid of a professional telling her that her business wasn’t viable and she should just pack it up and end it - and as a result tried to ignore it. She said she’s still paying for this mistake now, just thinking she could do it on her own.

She’d recommend wholeheartedly hiring a professional to help with the finances. This allows you as a small business owner to work on your business, not in it. When you’re dealing with those finer details that are confusing and maybe not your forte, you lose focus on the bigger picture of how to operate and grow your business into your dream. “You can’t afford not to do it,” says Victoria.

Solid advice for entrepreneurs of all levels

Whether you’re just starting out, thinking of starting a business, or have been operating one for years, you can take a bit of wisdom from these tips from Victoria. If you want to learn more about Honeycomb and how we can help you grow your business, fill out the form below.