Lessons in business

Bloom – lessons in business

How I (practically) set up a company in a weekend

Bloom, my project management business, was the result of leaving the security of corporate life behind and jumping into running my own company. Scary? Yes! But also hugely rewarding and fulfilling, after a rollercoaster of a year.

I chose the name Bloom to signify the growth I’m currently experiencing both personally and professionally. It’s also stands for the growth of the projects I work on with my clients and how we can grow together. Bloom is a celebratory name because there’s so much positivity in this journey I’m on. I want to build a company where those who work with me also take the opportunity to bloom in their own right.

Project managing myself

Working out I wanted to start my own business took many months of work and careful thought. However, the time between finishing my last project for someone else and setting up on my own happened practically over a weekend! I found a local accountant and jumped into trying to understand what a business actually is.

 It’s an interesting process when you transition from being an employee to running your own company. And in many ways, it suits my skill set down to the ground. As a project manager, my entire job is about problem solving and finding a way out of difficult situations. I love the pace of it, the pressure and the feeling of reward when you successfully achieve the right outcome. I’m effectively project managing myself into a business owner, which is just the sort of challenge I like!

Lessons learned

I would say to anyone starting their own business that learning how the money works is the most fundamental lesson. It was a real eye opener for me, having worked for a big firm where someone else sorts all that out for you. Money is essentially the viability of any business, so getting my head round it was huge – and all advice has been invaluable.

The second biggest lesson I’ve had is realising how vital relationships are to the development of your business. Project managers win work through building relationships, as such you have to invest in them genuinely and wholeheartedly. There’s no room for false connections. You also need to give the relationship time to develop, as there are no short cuts. If you do it right, however, the rewards are huge, not just in terms of work secured, but also in creating a supportive network.

Get people around you

A great piece of advice I received early on was to get a board in place. And, I would encourage anyone to do the same, as it has been crucial for me. The three people on my board give me accountability, they help me to manage myself and take away the feeling that I’m all on my own. I’ve also got the support of a group of people who are actively involved in helping me to grow Bloom. I’m hugely grateful for the time they invest in mentoring my young business.

Expanding your network

Networking is necessary for building a business, but it’s not as easy as it looks. It is daunting to walk into a room on your own and speak up, even more so when you are talking about your business, which is so personal. However, I would advise any new business owner to learn to share their story, because it is vital for initiating meaningful and lasting relationships.

Being your own boss is hard, not least because there’s no day-to-day feedback on whether you’re doing it right. But there are moments when you just get an inkling you’re heading in the right direction – as happened recently. An associate who had been at a networking breakfast I hadn’t attended sent a message to say I was mentioned twice by name, by two different people. A genuine endorsement, to have your name mentioned in the room when you are not there – this was a mark of recognition I hadn’t anticipated!

Whether you’re actively looking for a project manager or would just like to start a conversation, I would love to hear from you.

Yaeger Irwin is the founder and owner of Bloom Project Management Limited. She is passionate about her work, having spent the last 20 years delivering complex and high-profile projects to a wide range of satisfied clients. Get in touch to find out how Bloom could help with your next project.