Starting your own business can be really exciting – whether you’re fulfilling a lifelong dream or looking for better work-life balance. It can also be daunting, and calls for courage, commitment and bold decision-making.

If you own your own business, or you are thinking about taking the leap, I’ve kicked off a new social series where I chat with Xero’s customers from around the world to learn about their unique experiences and the important lessons they have learnt along the way.

Taking a leap of faith

In the first few videos, I talk to small business owners about the risks they took to get started.

Many of them had the courage to leave a safe, secure job often in the corporate world to take that brave step to be their own boss. It was uplifting to hear each person share many rewarding moments that make it all worth it.

These conversations also highlighted the key role cloud technology played in our customers’ ability to get up and running fast and have relevant financial data available at their fingertips to make critical decisions and enjoy the flexibility they desired. Rachel, founder of 1st Break Accounting, told me it would not have been possible for her to move her business remote and have the lifestyle she has now in Hawaii if it weren’t for cloud tools like Xero. I loved hearing that Rachel has the flexibility to finish a day’s work and then go scuba diving!

Getting creative during the pandemic

Other conversations in the series so far have touched on the bold decisions many small businesses have had to make during the pandemic to adapt to changing business conditions and customer needs. Dave from MX3 Fitness, based in San Francisco, relayed the challenges of shifting all their gym equipment onto the sidewalk so their clients could workout in the open air.

As a services-based business, Laura, founder of Real Country in New Zealand had to adapt her rural experience offering after losing the international tourism market overnight when the borders were slammed shut. Laura’s passion and determination for what she does helped her create an even stronger business than before, while remaining ingrained in the local community.

Wise words from our customers on starting a business

I asked these small business owners what their advice is, based on their experiences,  for other people wanting to start a business. Here are their top tips:

Don’t wait for the perfect time – there never is!

Do your research before you start but don’t procrastinate or wait until you feel like you’ve got the perfect plan or enough time or money. Trust that you’ve got the knowledge and drive to be successful on your own.

Play to your strengths – this starts with knowing what they are

Find a niche that sets you apart from others. Do something you’re good at that you know you’ll be able to progress in.

Make sure it’s your passion – if it energises you, then it’s a passion

You can always upskill yourself or outsource certain parts of the business, but if you aren’t 100% passionate and purpose-driven, the journey won’t be nearly as enjoyable. Passion is what will get you through the hard days and make the good ones even more rewarding.

Watch the first videos in the series below:

Tunku Khalsom, International Artist (Singapore)

Rachel Forward, 1st Break Accounting (Australia/Hawaii)

Dave Karraker, MX3 Fitness (San Francisco, US)

Laura Koot, Real Country/The Fairlight Foundation (NZ)

Jane Templeton, Golp (Australia)

Stay tuned on my Linkedin for more customer videos coming soon!