Being a successful entrepreneur, having your own business, is more than just quitting your 9-5 and trying out fun business ideas. A lot of people dive into the world of business without knowing exactly what to expect, and when they’re hit with reality, they start feeling anxious and panicky. Here’s a hard fact: you will make the wrong decision… way too many times.
One of the main reasons entrepreneurship is not for everyone is because people are not prepared for it.
Although you can never know for sure what to expect from entrepreneurship, I’m here to help you get started off on the right foot. I’ll list out the 5 warnings every entrepreneur needs to know so you can be more prepared for what’s to come – and have a better chance to build a successful business!
5 warnings for entrepreneurs before starting a new venture
Being a first-time entrepreneur is hard work – there are so many business decisions to take, you need to leave your comfort zone, come up with a business plan, work longer hours than with an office job, always think of what’s the next step, create a marketing strategy… Let’s just say, the first year is hard. But being able to provide value to your audience makes it all worth it. Knowing your effort and long hours are making a difference is enough to keep going – and there’s no price tag in that.
So before you take that first step (or even if you already have), let me share with you the 5 warnings all small business owners need to know.
#1 You will be broke for a while
As a 1st-time entrepreneur might go into business thinking this means financial freedom, time freedom, even freedom in your creative process. While that does come true, it takes a large amount of time to get there.
Perhaps your marketing efforts will not work, or you will not be able to hire as many team members as needed, or your financial reports will show negative numbers. There are so many different things that can happen that make new businesses difficult to maintain afloat.
Personally, I got myself into six figures of debt because I was investing more money than I could afford, and it didn’t work out the first time I tried, nor the second, or 17th try. But if I see it in a positive light, I like to think of this as the tuition that I had to pay to learn to grow to where I am now that I have a multi seven-figure business.
“It was hard, but it taught me the lessons I needed to get to where I am today.“
#2 People might not understand what you are doing
Your support system, as well-intentioned as they are, might try to encourage you to go back to the “safety” of a 9-5. Sometimes when you hear these things, you might take it personally, because you know that they love and know you – but you need to know that those words are projections of their own fears, insecurities, and personal problems. At some points, you might suffer from social isolation simply because people’s lifestyles don’t align with yours.
“The best thing you can do is show them it can be done – be the example by remaining strong, courageous, and following your own path.”
I used to work as a dental hygienist and I had some social media clients on the side. When I got to the place where my business was bringing more revenue than my job at the dental office, I was ready to take the leap and go all-in on this business. But I had friends and family members that were concerned about that. They thought that working for someone else and having them sign my paychecks is more secure than being someone with small businesses. But for me, the best method I could find to create that security was by having my own business.
#3 There are no guarantees of success
The success of your business is not guaranteed. This is another reality that any startup entrepreneur must understand – Just like anything in life, there are no guarantees. However, if you surround yourself with an incredible group of entrepreneurs that have the skills, talents, and abilities that can inspire you, encourage you, and support you, you’re more likely to see that success.
But even with the right support, it’s crucial to have a plan behind you to support you along the way. You’re about to take some big risks in your business, so it’s to have a support system as well as a financial cushion behind you to be prepared for anything.
#4 Your health is more important than your business
I know way too many entrepreneurs who kept hustling towards the goal, not taking care of their health and wellbeing. Then they ended up burnt out along the way, were never able to scale their business to reach their goal, and lost it all in the process in a matter of months.
“Self-care is the gateway to success and your business will only grow to the level that you do.”
You see it all the time, people finding themselves in a cycle of “I have to make this money and improve myself” but once they’ve gotten to that goal, the next one comes up so quickly and it’s a constant cycle of never finding that space to take care of themselves. But – taking care of your own well-being should be a big part of your job. Otherwise, who’s going to take care of your family?
#5 It’s not about the money
As entrepreneurs, we start this business because we see a problem in our environment, in our community, in our world – and we want to find the solution for it and help the people that we want to create the change for. A big part of growing your business is growing who you are as a person and getting rid of mindset blocks that also stop our business growth.
“Entrepreneurship is a game of personal development.”
By playing this game of personal development, I learned that I am capable of evolving into who I am meant to be so I can reach who I’m meant to reach. Since your business is evolving at the same rate that you do, you’ll soon notice that when you enhance one aspect of your life, you’re going to enhance all other aspects for yourself too.
It’s all about the journey
I want you to see yourself in your own her’s journey. Think of your story as your favorite movie – think of how you follow along with the hero, we watch them hit rock bottom, fight their internal struggle, but then we also see them rise up and we cheer when they reach their happily ever after.
“I want you to witness your journey as your own hero’s journey. See how your mess can become your message and as the attractive character.”
You can bring your audience along this story with you, create a raving following – and then, transform raving followers into high-paying clients. Isn’t that the goal?
I hope this information was useful and gave you the necessary resources to feel confident and start a successful startup. Sure, starting a new business may feel a bit scary at first, but I promise you – it’s completely worth it! Stay for more blog posts because I’ll continue sharing with you my best tips for first time entrepreneurs who need that support to grow their business.
Which of these warnings left you thinking? Which one did you not expect to read?
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