There’s no recipe for success in entrepreneurship, but tips from someone successful can make the journey smoother and less lonely. Being an entrepreneur can be an incredible experience, sure. However, it also comes at a price only some are willing to pay. And so, why not create a list of things we wish we knew?
To some degree, a heads-up type of situation.
‘Turnover’ Rate as an Entrepreneur is Massive
.. in fact, it’s way too high. And a big part of that is that people aren’t truly prepared for what happens when you start. Too often, we see the bells and whistles, fancy cars and lavish vacations, right? Instead, we need to know the struggle and grind behind the scenes. More importantly, we don’t see the failures on social media, but we know a ton of highlights.
We aim to shorten the learning curve with our clients, teams and communities. Be transparent with people because those are the people who lock arms with you – and stick around. Being an entrepreneur takes work; there is zero way around that.
Those overnight success stories you see are often ten years in the making.
And we can tell you from our own experiences those ten years is worth every moment.
Now, chances are these are things you already know. Grind, grit, complex work ethics, no excuses, and so on. So instead of regurgitating this information at you, we want to share this;
8 Things I Wish I Knew Before Becoming An Entrepreneur
Based on your business, some lessons won’t apply at first glance. However, they are not any less valuable. And, sometimes, when we dig beyond the surface, we realize there are more parallels in the entrepreneur world than we first realize. This leads us to our first thing …
Don’t Go at it Alone!
Please note that you can do without business partners or a crew of people to run your business. Instead, surround yourself with people who want the best for you. Make sure your circle is intact with people who will remind you why you became an entrepreneur and push you when you don’t feel like it. Support is massive — align yourself with communities of people who are after the same goal – owning a thriving business they get to call their own.
Find 1 (max 2) People to Consult with
This thing is similar to the one above it but slightly different. Your circle is excellent, right? They are there to support you, encourage you, and even brainstorm with you. But, finding one main person to consult with – share your ideas, your fears, your vulnerabilities, and all things in between is critical.
It is helpful to be a business coach if you are in a position to hire one, but the goal is to be someone who is on a level of success you want to attain. Someone you look up to as an entrepreneur – can be different niches, of course, but someone who knows the ropes.
This was a game-changer for us.
Stay Agile with your Expectations
You have a long-term strategy – perfect. Please don’t get so attached to it, though. Let us explain. We always recommend and encourage goals. However, you want to make sure as an entrepreneur; you can also adjust when necessary. Because listen, trends change or demographics shift – stay ready for that.
So yes, you may have spent hours developing your long-term strategy, even days or weeks, but be prepared to readjust and adjust again.
It’s a Long Road, but a Road Worth Travelling
There are going to be days you want to quit. As an entrepreneur, there will be days you will be left wondering where your next mortgage payment is coming from. But you will also make it work. Remember, this space is one of innovation and creativity – brilliant minds. But, somehow, we figure it out, and you will too!
Focus on your Strengths, Table your Weaknesses
When we first transitioned from offline to online marketing, gosh, we had NO IDEA how much work it would be. We heard people talk about things that were in a different language to us at the time. Funnels, autoresponders, bots, and landing pages felt like we were coming out of the Stone Age.
And instead of freaking out about it, we just went to work with what we knew how to do best – love on people. We focused on building relationships and learning how to do so online. By tabling the weaknesses, we became great at taking our offline relationship-building skills and crushing them online.
Outsource Where/When you can
Tying into the strengths vs. weaknesses — you may already be in a position of profit in your business (this one is for you). Outsource what you don’t like or things you could be better at.
There are various ways to outsource tasks and a ton of great platforms to help you as well. When you find yourself too busy and have disposable income, look into outsourcing these tasks. There are a few primary things an entrepreneur needs to know, and that’s this; outsource what you are good at so you can focus on what you are great at.
Prepare Yourself Mentally
Every successful entrepreneur has a personal development outlet. For some, it might be attending church, yoga or picking up a great book. Find out what that thing is for you, and be prepared to lean on it and rely on it. Additionally, trust in it even on the days you think you don’t need it – those are often the days you need it the most. So much of entrepreneurship is a mental game flex that muscle often.
Clients or Customers are your Lifelines
There are going to be things that distract you from your business. It may be new opportunities, headlines of others winning big over there or people crushing it in that industry. Whatever it is – never forget about your customers. A loyal customer, after time, will more than likely buy whatever you are selling.
And so, don’t ever leave them unhappy. Do whatever you can (within reason!) to keep them pleased and better than you found them. Remember the little things with them – birthdays or special times in their lives. Keeping your clients/customers happy should always be a priority – zero exceptions.
When you implement these eight things we shared, you will build a business ready for success. Try to learn the expensive lessons only once, and realize that, like your business, you are a work in progress too! So cut yourself some slack, and go easy on yourself. Success can be yours.