After two decades of running my own business, I can tell you this: success usually isn’t about flashy strategies or overnight wins. It’s about getting the fundamentals right and building your business on solid ground.
If you’re building a business right now (especially in the early years), these four lessons will give you a strong, sustainable foundation. They build on each other, so read them in order and let them work together.
1. Get the money in quickly and put 30% aside
This is one of the most unglamorous but genuinely life-changing lessons I learned early on.
When I first started, I was focused on doing great work. What I wasn’t focused on enough was getting paid. Then a builder friend said something that stopped me in my tracks:
“What’s the point of doing the work if you’re not getting the money in?”
From that moment, I treated cash flow as the heartbeat of my business.
I invoiced promptly.
I followed up without guilt.
I stopped separating “the work” from “the money.”
Then there’s the second part: the 30%.
My dad told me to save 10% when I got my first job. When I started my business, he said, “Make it 30%.” It felt uncomfortable at first, especially in lean months, but it saved me from every tax bill I’ve ever had and gave me options when I needed them.
Get this right and everything else becomes easier.
2. Increase your prices as your experience grows
Once money is coming in consistently, the next common mistake is staying underpriced for far too long.
I started out charging £20 an hour. I knew I couldn’t jump to premium pricing overnight, so I made a simple decision: every new client paid slightly more than the last.
With every client:
• I gained experience
• I learned how to add value faster
• I became more effective and strategic
Your experience compounds and your pricing should reflect that.
Over time, this approach took me from £20 an hour to around £150 an hour. Not because I “felt like it,” but because my value genuinely increased.
If you’ve been charging the same rates year after year, this is your nudge. You are growing. You are learning. Your pricing should evolve with you.
3. Make a plan, even if it’s simple or messy
As your business grows, direction matters.
One of the biggest mistakes I see business owners make is running without a plan. Not because they’re lazy, but because they’re busy, overwhelmed, or unsure where to start.
Without a plan, you get pulled in every direction by trends, opinions, and moments of doubt.
A plan anchors you.
It helps you make decisions faster.
It stops you from waking up every day wondering what you should be doing.
It doesn’t need to be a 40-page document. One page is enough:
• How much money do you want to make
• Who you want to work with
• What you want to be known for
• The steps you’ll take to get there
And please include a simple marketing plan. Otherwise, you’ll spend every day guessing what to post and how to show up.
Planning doesn’t restrict you. It gives you clarity.
4. Focus on the clients who bring profit, pleasure, and satisfaction
This final lesson changed everything for me.
In the early years, I worked with anyone who would pay me. Most of us do. Over time, though, it became clear that not all clients are equal.
Some clients energise you, value your work, and help you do your best thinking. Others drain your time, push boundaries, and pull you away from what matters.
So I created a simple rule:
Focus on clients who bring profit, pleasure, and satisfaction.
Profit because you’re running a business.
Pleasure because you deserve to enjoy your work.
Satisfaction because meaningful work fuels momentum.
If you’re not sure who those clients are yet, that’s your next piece of work. Look back and ask:
• Who paid on time?
• Who respected boundaries?
• Who got great results?
• Who lit you up?
Build your business around them.
These four lessons work together. Strong cashflow creates stability. Fair pricing reflects your value. Planning gives you direction. And the right clients make everything sustainable.
They’re simple, practical, and tested over 20 years of running my own business.
Want to learn more? Read tips 5-8 that stand the test of time.
Why I Love What I Do
I’m Kara Stanford, a Strategic Advisor to Business Owners, CEO & Founder of The Marketing Spaces, a NED, and Marketing Strategist Consultant.
This year, I’m celebrating 20 years of running my own business.
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