The Rollercoaster Ride of Running a Business: Reflections and Lessons

Hello Readers, I hope you have had a great week?

Who here, as a child, went to Blackpool Pleasure Beach? If you didn’t, then where have you been? Growing up in Stockport, Blackpool was our local beach – the go-to place for excitement. I vividly remember heading to the Illuminations every year and, of course, taking on the wild rides at Pleasure Beach. Running a business, in many ways, feels like being on one of those rollercoasters: unpredictable, exhilarating, and sometimes downright terrifying.

For those of you who haven’t been to Blackpool Pleasure Beach, let me give you a glimpse of what it’s like. Picture this: rickety, decades-old rollercoasters that feel anything but safe. The last time I visited, I was 21, taking a trip with my uni mates. I’m sure they’ve upgraded the rides since then, but back in the day, you felt every dip and dive in your bones!

Just like those rollercoasters, running a business can be a chaotic, adrenaline-fuelled ride. You’ve lost your shoes, misplaced your phone (only to find it in the fridge), and feel like you’re spinning so many plates that you’re bound to drop one. The highs are high, but the lows can be equally daunting.

This week, I’ve been reflecting on my journey and the work we do at Thrive, where our mission is to help business owners like you learn from mistakes – without repeating the really hard ones I made. My goal is to help you “fail fast,” move forward, and know that it’s perfectly fine not to have all the answers.

No one taught me the ins and outs of running a business when I first started. So, today, I’m sharing five of the biggest mistakes I made and how you can avoid them. But before we dive into those specifics, I want to talk a bit about mindset and how vital it is to ask for help.

Knowing Your Numbers Is Non-Negotiable. When I opened my first clinic back in 2015, I didn’t have a business plan, and I definitely didn’t know my numbers. I didn’t understand margins, had no idea where growth would come from, and, frankly, didn’t know if we were making money. I had a client, Terry, who was a numbers wizard. He kept telling me, “Katie, you need to know your numbers,” but I would brush him off because, let’s face it, numbers can be intimidating. However, the truth is, your business bank account is not an indicator of your financial health. Without understanding your finances, you’re flying blind.

Over time, I became obsessed with numbers, and now they guide almost every decision I make in business. Knowing your financials, like profit margins and expenses, is crucial for long-term success. So, if you take one thing from this post, let it be this: embrace the numbers.

When I first started my business, my ‘why’ was simple. I was working for someone else and, while I loved being a physio, I felt like I’d hit a ceiling. I had a lot of clients, waiting lists even, but I wanted more freedom and financial control. My dream was to build something that aligned with my personal values, like travel and adventure. But in the early days, I was working six clinical days a week, and that certainly didn’t leave much room for adventure. It’s so important to recognise what your personal values are and ensure that your business supports them. If it’s not serving you, something has to change. Your business should be a vehicle for you to live the life you want, not something that drains you.

When I first started, I made the mistake of listening to too many conflicting opinions. We’re bombarded with business advice—blogs, podcasts, YouTube videos—and it can be overwhelming. I was guilty of trying to do everything, constantly looking for that “magic pill” that would take me to the next level. It wasn’t until I hired my first business coach that I realised the importance of tuning out all the noise. When you find a mentor or system that works for you, stick with it. Focus on implementing their advice and block out distractions. You don’t need to compare yourself to others or follow what your competitors are doing. Success comes from consistency and focus, not from chasing shiny objects.

Like many clinic owners, I thought I had to do everything myself. For the first year, I was a one-woman circus. I was the receptionist, the cleaner, the bookkeeper, and, of course, the physio. Looking back, I wish I had asked for help much sooner. Hiring even just one part-time staff member would have made a world of difference. You don’t need to do it all. Recognise where your strengths are and delegate the rest. This not only frees up your time but allows you to focus on the areas of your business where you truly add value.

Stay True to Your Path. It’s easy to get caught up in what everyone else is doing, especially in the age of social media. But here’s the truth: there’s enough room for all of us. You don’t need to follow what others in your industry are doing. Focus on your path, your goals, and what feels right for you.

Comparison is the thief of joy, as they say. So, stop looking over your shoulder and trust in your own journey. Stay committed to your vision, and success will follow.

Running a business is a rollercoaster – there’s no doubt about that. But with the right mindset, support, and a clear plan, you can enjoy the ride and make it to the other side with your shoes, phone, and sanity intact!

Why not take a deeper look at your business health and take my business health check quiz here. In 2 minutes find out how well your business is performing AND what you need to take to move it forward. It’s 100% free you’ll see how well your business is performing in 5 different areas (Numbers, Sales & Marketing, Systems, Team Performance and Mindset). I cant wait to see your results.

Here’s to thriving in business, not just surviving!

Have a great weekend.

Katie X