One of the biggest decisions you will ever make in your life is choosing between the guaranteed paycheck and the ‘promised’ corporate freedom offered by entrepreneurship. It is indeed a big decision since you have to heavily analyze yourself and what kind of life suits you.
Not everyone is cut out for the life of an entrepreneur. However, if you find yourself dreaming of establishing a business, and letting go of the social life you apparently despise then maybe, just maybe it’s your calling. Here are a few things you will learn along the way after you take your first step into the world of entrepreneurship.
No Man is an Island
Despite your recent success in breaking the shackles that glued you to your desk eight hours a day, you are still not free from socialization. Believe it or not, business persons still need to establish mutually beneficial relationships with fellow entrepreneurs and their customers as well.
In order to shine in the business world, you must willingly surround yourself with people who share the same mindset as you. That way, you can inspire and keep each other motivated amidst rough times. More importantly, you can learn from each other’s experiences and failures. Why would you wait around for failure to happen to you when you can learn from someone else’s mistakes? Reciprocally, these connections can also learn from what you have to share and the things that served as setbacks for your business.
There are countless benefits in establishing relationships as an entrepreneur. Having a community of like-minded individuals can serve as a solid rock for you to lean on for support as well as a credible and relevant learning platform. As a bonus, your connections can also help spread the word on your business, saving you from going through all the trouble of being your own salesman.
Learn for the Learned
As a new entrepreneur who just entered the business world, it would be wise if you opened yourself to the fact that you don’t know everything yet. You may have invested in online education for business and read a few books, but there is nothing better that getting hands on experience. The next best thing is to learn from someone who has already been there and abolished any obstacles that stood in his or her way.
Welcome opportunities to learn from those who are already knowledgeable in the field. Do not be afraid to ask questions. Remember, your curiosity and willingness to learn is a far better way to gauge your intelligence than simply blurting out what you think you know.
Do it Only if you Love it
Like we mentioned earlier, the life of an entrepreneur isn’t for everyone. If you love your night outs and long weekends off, then this probably isn’t suited for you. Just because you are attracted to the possibility of never working for another boss again, doesn’t mean that you should throw everything away and start up a business. There are many more factors to consider!
If you start a business half-assed, you might end up with less than you bargained for. If you aren’t fully committed to your business and are only in it for the perks, do you think you will be able to love and care for your customers? In the long run, such an attitude and mindset will doom your business.
Only make the ultimate decision to quit your job to start a business if you are 100 percent ready to see it through. That includes dealing with all the financial blunders, the lack of a steady paycheck, and ferocious competition.
Prepare for Failure
Only start a business if you are 80 percent sure that it will succeed. If you tell me that you are 100 percent that your business plan, model, and whatnot will skyrocket you to financial glory, then please don’t get on this waggon.
It’s the Journey that Matters, not the Destination
There are countless success stories in the internet portraying a 20-something-year-old entrepreneur achieving massive millionaire success after setting up a business. The stories often come with inspirational messages and how it can be easily done. Such success stories are a good read, especially for those who aspire to achieve the same. However, readers often forget to realize that these people did not achieve such success without struggles.
Their fast cards, designer dresses and shoes, and large Los Angeles estates can easily blind a startup entrepreneur. It’s best not to be motivated by such material things, and instead, draw your fuel from passion and desire for hard work. Keeping your eyes on the end game can cause you to blindly trip over your own feet due to lack of focus on the road ahead. Yes, you have to envision yourself as a success in the future, but that doesn’t mean you should pay less attention to the journey. Because within the journey, lies all the lessons, experiences, and challenges that you will need to reach your destination.