11 Things I’ve Learned in 11 Years of Running a Business

Thinking back over the course of the 11 years I’ve been running Ugmonk, I put together a list of 11 lessons I’ve learned about building and running an independent brand. (The list could easily be 10x longer, but I’ll stick with 11.) Whether you run your own business or work for a company, I hope these will help and encourage you.

TLDR


1. Details won’t be noticed, but they make the difference.

2. People are not numbers.

3. There’s no “right way” to do things.

4. Humble transparency wins.

5. Consistency is key.

6. Patience is underappreciated.

7. You don’t need big budgets to make nice things.

8. Treat people the way you want to be treated.

9. Take Breaks.

10. Don’t let inexperience stop you; learn by doing.

11. Enjoy the journey.


1. Details won’t be noticed, but they make the difference.

I often hear “I don’t know what it is but there’s something about your products that stands out.” No one buys a product because I have custom shipping tape or took the time to recrop a crooked product photo, but all of these little things add up. If something can be improved, no matter how mundane it may seem, take the time to fix it. The individually insignificant details make up the overall experience of your brand.


2. People are not numbers.

Follower counts. Open rates. Likes. Website visits. It’s easy to think of these as just numbers that need to be optimized. But the reality is that behind each number is a real human. When I see only 378 people viewed our site today, I can start thinking about SEO optimization and growth hacking, but those are 378 people that “walked into our shop” and gave us some of their valuable attention. Commerce is relationships. Place value on the people, not just their wallets.


3. There’s no “right way” to do things.

Stop worrying about the "right way" and figure out what works best for you. The reality is there are many “right ways” to do something. It’s easy to fall into the trap of looking other companies strategies and trying to imitate them.  What you value may be different than what they value. What works for them may not necessarily work for you. (In fact, you don’t even know if it’s truly working for them.) Learn from others, but pave your own way.


4. Humble transparency wins.

We all make mistakes. What’s important is how we deal with these mistakes. Spinning the truth to save face will almost always come back to bite you. Being open and honest with your customers is the only way to build real trust and loyalty. It can be hard to take the blame, and there may be short term costs, but valuing people enough to be up front with them is always the best long term play.


5. Consistency is key.

Keep showing up, doing good work, and people will notice. The fastest way to kill an idea is to starve it of your energy and attention. There are productive days and non-productive days; days I feel like working and days I don’t. People always ask what “big break” led to Ugmonk’s success. My answer: Consistently showing up for the past 11 years. 


6. Patience is underappreciated. 

The adrenaline rush of a big release and piles of orders coming in is amazing, but those events are surrounded by a lot of hard work and waiting. Feedback is not always immediate. Growth will take time. And at times manufacturers and suppliers will miss deadlines or not deliver the promised product. Yes, waiting for things, especially when they take longer than expected, can be extremely frustrating. Persevere, be flexible, and wait graciously.


7. You don’t need big budgets to make nice things.

People perceive Ugmonk as a big brand with big budgets (trust me, I get emails from sales people all of the time). But the reality is that we still operate as a very DIY company. High quality design, photography, video can all be done with shoestring budgets (for example we take all of our product shots with a little makeshift setup in my office).  Good gear helps, but refining your eye and taste will do far more to improve the quality of your output. 


8. Treat people the way you want to be treated.

Sounds so simple, right? Treating people with dignity and respect should be our default stance, but business and money can bring out the worst in people. It’s easy to want to snap back at an angry customer or scream at a manufacturer when they screw up, but these are real people with real problems that often reach far beyond our business relationship.  I may be the only person that shows them kindness today. I can be firm in my business dealings while remaining polite and respectful. In the end, not only is it healthier for both of us, the end product is often better too.


9. Take Breaks.

Working more hours does not always lead to better results. Since I love what I do, I have the tendency to want to work as many hours as I can. But our bodies and brains were not made to stare at screens all day every day. Something as simple as going for a walk with my family in the middle of the day can help me reset and approach things with a fresh perspective. 


10. Don’t let inexperience stop you; learn by doing.

I launched Ugmonk without having a business degree or business plan. I designed Gather with no formal industrial design training. I learned photo and video editing by trial and error (and Youtube videos). Thanks to technology we literally have endless information at our fingertips. It’s just a matter of taking action. You’d be amazed at how many things I’ve learned that all started with a simple google search or an email to a complete stranger.


11. Enjoy the journey.

Running a business is a lot like a roller coaster – a roller coaster that never stops. There are a lot of highs and a lot of lows, but it’s all about the journey between those points. The process and the challenge is just as important as what we call “the end results.”

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There's lots more I could say, but these eleven lessons are some of the most important things that have guided me as I run Ugmonk. I hope they help you on your journey too.

Thanks for your continued support!

Jeff Sheldon
Founder/Designer

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