Starting A Business - 4th Month Review

For the first time so far, May felt (almost) like a full month in terms of elapsed time. I don't think that I got as much done this month as in previous months, but that could just be a natural slow-down of settling into "real work" with the main hurdles of setting up the business out of the way. So let's take a look back at May, and plans for June!

The Business

Here's what I managed to achieve in May, it's not a particularly long list this month I'm afraid!

  • Completed 1 client project
  • Won 3 more client projects
  • Spent a day working remotely for the first time
  • Finally got my business bank account sorted
  • Got my company paypal account set up and verified
  • Coded up the first part of the new design for this site
  • Took on my first full-time employee, Melqui

In Detail

This has been a slightly strange month, I think I got my first taste of burn-out - and I didn't like it! May felt a little bit like just "another month" - which wasn't cool at all. Thankfully I think (hope) I've pulled myself out of that one, but just to reinforce it I'm going to set myself some really hard goals for June to keep me on my toes.

This biggest news by far is that I'm now (4 months in) no longer a one-man-band. I now have the first full time member of Lyrical Media staff, and with that comes great responsibility. I'm not just putting food on the table for myself now, I have to make sure that the business is turning over enough money each month to make payroll.

Is it scary? Absolutely! I almost didn't do it. But no risk = no reward, so rather than bitching about how many things could go wrong, I'm going to work twice as hard to make sure that they go really right.

Finally, I'm finding myself stuck between a rock and a hard place. My original goal was to take on staff, move into a nice office, and build up a really successful web agency. But since reading The 4 Hour Work Week (Amazon links: UK, US), I'm wondering if I wouldn't prefer to build up a network of outsourced staff (like Melqui) and work remotely so that I can do 'whatever I want' without being tied down to a single location.

We shall see.

Reviewing Goals for May

There's a whole lot of Fail here I'm afraid. Only managed a 50% hit-rate this month!

  • Code up and release the first Lyrical Media newsletter - Fail
  • Review the Rockstar Freelancer Book on this blog - Fail
  • Get new business cards, letter heads, and stickers printed - Fail
  • Grow my twitter account to 2,200 followers - Success! Got 2,700
  • Grow my rss subscribers to 100 people - Success! Got 136
  • Take on a virtual assistant - Success! But got a full web designer rather than just an assistant.

Goals for June

Some agressive goals for this coming month, and I think I might stick them to my wall to make sure I don't forget about them.

  • Complete 3 client projects
  • Relaunch this blog with the new design
  • Win 3 client projects
  • Grow twitter account to 4,500 followers
  • Grow rss subscribers to 200 people
  • Write a book proposal (more on this another time)
  • Design a Wordpress theme for release on ThemeForest

What Are You Up To?

Let me know what you’re doing this month and if you have any exciting projects coming up, and I’ll be more than happy to mention them here!

John O'Nolan

Founder at Ghost.org. Writes about open source, startup life, non-profits, and publishing platforms. Travels the world with a bag of kites.