FiveFifty Turns One Today – 10 Lessons Learned from Our First Year

By October 3, 2013Uncategorized

FiveFifty is officially through it’s first year!  It has been a great year and I am very optimistic about the future for the business.

We won 3 gold awards last year.  One from the Business Marketing Association for our work with ShipCompliant’s lead generation efforts and two awards from the Colorado chapter of the American Marketing Association for our work with Colorado School Grades, social marketing and online advertising.

More importantly, we have left a trail of enthusiastic customers and maintained 100% customer retention while steadily increasing our client base.

I’ve learned a lot this year and here are my top 10 take aways:

  1. Starting a business with partners is a lot different than starting a business yourself– know your strengths and weaknesses.  If you are on your own you need to be creative about structure to emphasize what you are good at.
  2. Do a good job and you will get more of them– your track record is crucial to your future success.
  3. Stay positive and flexible– things take time.
  4. Don’t take shortcuts– they are habit forming.
  5. Begin with the end in mind– If you hope to achieve a particular outcome visualize it and work backwards.
  6. A personal reference is the best intro you’ll ever get–  Work tirelessly to make sure everyone who refers you looks great.
  7. Know what you are selling– You may sell widgets or services, but chances are your product is much more intangible to your customers.  Tap into the intangible.
  8. Get a peer network– Friends and family offer a huge amount of support, but you will have specific challenges as your grow a business that only other business owners will relate to.
  9. Be scalable– doing work without scale is a lot like having a job.
  10. Be authentic- Make your company reflect your values, goals and purpose and you will deliver an authentic experience.

We look forward to the next year of business and many more lessons learned.  Thanks to all of our customers, family, friends and peers that have been with us on our journey so far!

One Comment

  • Rachel says:

    Great tips. It is hard to start something out from the ground up by yourself and these are good reminders to keep in the core of your project. Congrats on a great year, and good luck on many more!

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