# Excessively Obsessed by Natasha Oakley - Blinkist

What’s in it for me? Unlock the secrets to entrepreneurial success.

Have you ever dreamed of turning your passion into a thriving business? If so, then this Blink is your roadmap to entrepreneurial success.

Blending personal experiences and actionable insights, it’ll provide you with a candid look at the journey from startup to multi-million dollar business. On top of that, you’ll take away practical advice on funding, marketing, and building a loyal customer base.

Whether you’re an aspiring entrepreneur or looking to scale your current venture, you’ll learn how to harness your passion, overcome challenges, and maintain a healthy work-life balance. Dive in and discover how to transform your obsession into a thriving enterprise.

Find your big idea

Are you obsessed with an idea that could be the next big thing? 

Great! But even if you don’t have one yet, don’t fret. Once you start brainstorming, you’ll quickly come up with cool ideas to build your own business around. Then all you need is the will to succeed. Successful entrepreneurs need to eat, sleep, and breathe their business, because turning an idea into reality takes relentless drive and sacrifice.

Before taking the leap, be honest about your motivations. Hating your current job? Craving a glamorous lifestyle? Yearning for “something more”? None of these are good enough reasons alone. You need a clear vision you’re truly passionate about. Freedom and flexibility are great, but prepare to work harder than ever, at least initially.

So what makes a winning business idea? Start by choosing an industry – physical products or services. With products, you get the satisfaction of creating something tangible. Regular new product launches give you news to promote. But inventory, manufacturing, shipping and returns add complexity and cost.

Service businesses have lower overhead and can scale faster, especially online services with a global reach. Explaining your offering can be tricky though. And without physical products, you have to work harder to prove your value to customers.

Whatever you choose, think long-term. This business will become a huge part of your life. Think about how to spend time in the industry first to confirm it’s your calling.

Most importantly, aim to solve a real problem for a specific audience you know inside-out. Build something you believe in with all your heart, even if others doubt you. When your idea wakes you up at night with excitement and purpose, you might be onto something big. Back yourself and give it everything you’ve got.

Start small

Ready to take the leap and launch your dream business? Not so fast! Quitting your day job too soon could turn out to be a huge mistake. Instead, start your business as a side hustle and keep your steady paycheck until you gain traction.

Yes, working two jobs is exhausting. But without a financial safety net, you’ll be tempted to pinch pennies in your new venture instead of taking the risks needed to grow. When Oakley started Monday Swimwear, she didn’t take a salary for 4 years! This allowed her to pour every dollar back into the business.

Your day job is also a chance to gain valuable skills. Pay close attention to how the company operates, even in mundane areas like payroll and customer service. You never know what insights will prove useful down the road.

To keep costs low initially, get creative. Barter your skills in exchange for services your business needs, like web design or accounting. Work from your living room before splurging on an office. Be your own staff until you’re ready to hire. Bootstrap with minimal inventory and basic packaging. Small sacrifices now provide the financial breathing room to scale thoughtfully.

So when should you finally quit that day job? There will be clear signs! For one, your business will be generating a livable wage with a stable revenue and growing customer base. You should also have a 6- to 12-month emergency fund saved up. And finally, you’ll have a growth plan for your business for the next five years!

Entrepreneurship is a marathon, not a sprint. By self-funding initially and keeping expenses lean, you maintain control and set yourself up to win in the long run. It may not be glamorous at first, but the freedom to take risks is absolutely key to startup success.

Partner up

No entrepreneur is an island. Behind every successful business is a dedicated team working together toward a shared vision. But building that dream team starts with finding the right partner.

When Oakley launched Monday Swimwear and later The Pilates Class, having a cofounder whose skills complemented her own was essential. Be selective about who you go into business with – the right partnership can propel you forward, but the wrong one can tank a venture fast.

Look for someone with different but complementary strengths. If you’re a creative visionary, pair up with an analytical numbers person. Alignment on values, vision, and work ethic is essential. You don’t need to be best friends, but mutual trust and respect are non-negotiable. Have candid conversations upfront about ownership stakes, responsibilities, and long-term goals to avoid conflicts later.

As your business grows, surround yourself with employees who believe in your mission. Hire for attitude and cultural fit over just technical skills. Aim for diversity that mirrors your customer base. And foster loyalty by creating a workplace that supports growth and recognizes great work.

Being a leader means bringing out the best in your team. Provide honest feedback, acknowledge your own shortcomings, and give public praise for jobs well done. Treat employees as individuals with unique working styles. There's a place for all, as long as expectations align.

Sometimes, despite best efforts, an employee isn’t the right fit. As a leader, having tough conversations is part of the job. Approach such conversations with empathy, but don't shy away. In the end, parting ways with an employee allows them to find a role where they can truly shine.

So remember that building a business is a team sport. By being intentional about who you partner and surround yourself with, you lay the foundation for a positive culture that will help your company thrive for the long haul. Your people are your greatest asset – invest in them wisely.

Master the logistics

Before you rush to quit your job, make sure you’ve got the nitty-gritty details squared away. This means logistics, finances, and all other administrative work. It’s not glamorous, but laying a strong foundation is critical for success.

First up, choose a name for your business that’s memorable, expandable, and, importantly, not already taken. Secure the trademark and buy the URL. Then get your paperwork in order: register the business, get a tax ID number, open a bank account, and consider hiring an accountant and lawyer to ensure you’re doing it all correctly.

Next, it’s all about the money. Get intimately familiar with your profit margins – the lifeblood of any business. Avoid over-ordering inventory and getting stuck with unsold products. In the beginning, aim for a 1 to 4 percent conversion rate. When setting prices, factor in costs but also perceived value. Budget conservatively and save for rainy days.

As you grow, data becomes your best friend. Follow sales figures religiously to guide inventory decisions. Use demographic info to hone your marketing. But don’t let data override your creativity and values! Stay true to your brand ethos, even if it means offering sizes that don’t sell as well. Your customers won’t always know what they want until you show them.

Time management is also key. Prioritize ruthlessly, delegate where possible, and don’t be afraid to say no. Implement tools to streamline communication and reduce distractions, such as good internal communication software. Have a vision for your end goal, whether that’s running the company long-term, getting acquired, or going public.

But don’t get ahead of yourself. In the early days, keep costs low and focus relentlessly on establishing your brand and attracting loyal customers. Remember, you can grow a profitable business without knowing everything – just stay curious and keep learning. With grit, smart systems, and a bit of luck, you’ll be on your way to making your entrepreneurial dreams a reality.

Don’t be afraid to fail

Buckle up, aspiring entrepreneur–- your business journey will be filled with ups and downs. But here’s the secret: even the “downs” are opportunities in disguise. Every mistake is a master class in what to do differently next time.

When Oakley started out, she once ordered way too much inventory for a swimsuit calendar. She was left with thousands of unsold copies. It wasn’t a total disaster, but she learned her lesson about accurate ordering.

The truth is, things will go wrong when you’re building a business. It’s inevitable. Shipments get delayed, launches go sideways, employees quit. The key is to see these challenges as chances to problem-solve and come out stronger.

That’s why you should institute a “5-second funeral” whenever a mishap occurs. Everyone gets five seconds to freak out, then it’s time to move on and focus on solutions. Your team will take cues from your reaction, so stay calm and positive.

Even more dangerous than actual failure is fear of failure. Don’t let anxiety paralyze you into inaction. When you’re feeling overwhelmed, break big goals down into baby steps. Send that email. Book that meeting room. Create that presentation deck. Trust that each small action will build momentum.

Chances are, your first big idea won’t be your million-dollar winner. That’s ok! Maybe you’ll need to pivot or even start over with a new venture. The insights you gain will steer you in the right direction. If your business made money, opened doors, or taught you something – that’s a success, even if it eventually winds down.

So appreciate every challenge as a chance to learn, adapt, and expand your abilities. With the right mindset, even your biggest “failures” become stepping stones on the path to your wildest entrepreneurial dreams.

Excel at marketing

Finding the right marketing mix is essential for any new business looking to make a splash. While traditional channels like print ads and billboards still have their place, embracing digital platforms is non-negotiable in today’s landscape. Here’s how to craft a killer strategy on a startup budget:

First, shift your mindset. Marketing isn’t about hyping your brand anymore – it’s about communicating how your product will improve your customers’ lives. Be crystal clear on your unique value and infuse it into all your messaging. 

Next, go all-in on social media. With billions of users spending hours per day on these platforms, you can reach a massive audience without breaking the bank. Claim your handles, write succinct but informative bios, and start posting engaging content ASAP. Consistency is key.

Don’t have many followers yet? Rally friends and family to like, comment, and share your posts. Tap your personal network to get the ball rolling. Remember, you need eyeballs on your product before you can make sales.

User-generated content is marketing gold. Encourage customers to post pics and videos with your products. Respond quickly to both positive and negative feedback – each interaction is a chance to build brand loyalty. Show there are real humans behind your brand.

When you’re ready for paid social ads, start small and track what resonates. Target audience groups that resemble the profiles of your best customers. And don’t underestimate the power of influencers. An authentic endorsement to their loyal followers can be a game-changer.

Social media can help you collect real-time intel on your audience too. Run polls, host Q&As, and DM your biggest fans. These insights will help you make smarter decisions on everything from product development to ad creative.

Finally, consider putting a face to the brand – yourself! Customers crave human connection. Sharing your founder’s story can be powerful. But make sure you’re ready for the exposure and accountability.

With a well-balanced, sustainable approach, you can craft a marketing strategy as individual as your brand. Simply stay nimble, and always prioritize the customer experience. You’ve got this!

Take care of yourself

When you first launch a company, that business becomes your baby, demanding all your love and attention. You eat, sleep, and breathe work, especially in the early days of your entrepreneurial journey. But just as parents on an airplane are advised to put their oxygen masks on first, so too must you prioritize your own well-being.

Burnout is a very real threat. The exhilaration of jumping out of bed on a Monday morning, driven by purpose and fulfillment, can be addictive. But constantly working without downtime has extreme negative effects that often sneak up unexpectedly. Oakley’s personal encounter with long COVID, which left her debilitated with tension headaches, fatigue, and brain fog, was a stark reminder of this reality.

Protecting and investing in your health isn’t just about avoiding burnout – it’s critical for your business success. Decision-making, leadership, and the ability to steer your company all depend on your mental and physical well-being. 

Your well-being also affects your team. Arriving at work with a positive, energized attitude sets a powerful example. Conversely, if you show up stressed and exhausted, it can create a tense, negative atmosphere. Organizing morale-boosting activities, offering flexible work schedules, and ensuring mental health support can help mitigate these issues.

Maintaining boundaries around your alone time is another essential aspect of maintaining balance and fostering creativity. Some of the best ideas come during moments of solitude, whether in the shower, while driving, or during a quiet walk. Regular moments of reflection and tuning into your inner voice can lead to significant business insights.

Ultimately, finding joy and fulfillment in your work is the best measure of success. Money is nice, but it’s the sense of purpose and enjoyment that sustains long-term commitment. By prioritizing your well-being, you not only protect your health but also enhance your business potential. Remember, a thriving business starts with a thriving you.

Final summary

This Blink to Excessively Obsessed by Natasha Oakley gave you the keys to starting your own successful business.

Your journey begins with finding a compelling idea and starting small to mitigate risks. Don’t quit your job until you have a solid foundation for your venture. Build a strong team and master logistics. Embrace failure as a learning opportunity and excel at marketing to ensure grow. Finally, self-care is non-negotiable to maintain balance and sustain long-term success. With this roadmap, as an aspiring entrepreneur, you can transform your dreams into reality.

Okay, that’s it for this Blink. We hope you enjoyed it. If you can, please take the time to leave us a rating – we always appreciate your feedback. See you in the next Blink.