Starting a business is always challenging, with 20% failing in the first year, and 50% by year five. That’s all the more reason to celebrate Crowned’s fifth anniversary and give ourselves a little pat on the back. 2020 has been quite the year so far, and despite the uncertainty and disruption of business-as-usual in many sectors, Crowned is persevering. We couldn’t be more proud of how far we’ve come, or more excited about what lies ahead.
So what’s it like to have a growing five-year-old business? We asked our founder, Francesca Coronado, about what she thinks about where she’s been and where she plans to go with Crowned.
How does it feel to have your company turn 5?
It feels humbling and a bit surreal. The time has gone by very quickly, and I’ve learned so much over the last five years.
What were some of the hurdles you faced in starting your own business?
There are always going to be hurdles; I think that’s to be expected. For me, the biggest challenge was maintaining boundaries. Figuring out how to step away from work has helped me be more productive.
What’s your favorite part of being your own boss and running a business?
I like the freedom that remote work provides, and I like being able to shift my schedule when needed.
What’s the most challenging aspect of running your own business?
I think the best and the most challenging aspects are parallel. That said, as a business owner, everything lands on your shoulders; it’s all up to you to steer the ship.
If you had a time machine, what would you do differently in starting the business?
I’d like to say that I wish I’d been better prepared, but then again, the decision to start Crowned was made on a whim. So I wouldn’t change anything. I’ve learned so much from every experience, good and bad.
What are some of your top resources for getting started?
There are so many entrepreneurial Facebook groups in every niche you can imagine, and they’re a great way to start networking. LinkedIn is also a great resource for making connections and joining groups. If you have a chance, go to a conference (there are many virtual conferences lately). It’s an easy way to get some face time and learn from other entrepreneurs.
What’s on the horizon for Crowned in the next year?
This is an exciting time for Crowned. After some feedback, we realized we’re missing an opportunity to share what we know about operations management with a broader audience. Not everyone has the budget or desire for one on one client support. Maybe they’re just starting out or need a quick solution for their business. To reach this audience, we’re launching our Digital Library in 2021, full of products that I hope will inspire, guide, and be genuinely useful to other entrepreneurs.
Where do you see Crowned in another 5 years?
In five years, I hope to continue to expand and pivot with the ever-changing times. No one expected that we would be in the midst of a global pandemic, so you have to be ready for anything. Just a year ago, the thought of full remote work was not feasible for most companies. Now, Zoom meetings are considered the norm. So much can change in a year– nothing is static. That’s what I think is fundamental when running a business: You must be open to change.
Here’s to many more years to come for Crowned! Keep an eye out for news about our Digital Library in the coming months. Cheers!