Many of us think that we are prepared to be an Entrepreneur and start the process without further thought. However, there is a reason that some businesses fail and also many reasons why entrepreneurs return to another occupation. Regardless of how unique an entrepreneur may be, there are problems that typically plague even the most enthusiastic and upbeat business people. For those of you getting back into the entrepreneurial game after a long absence, this list could be a valuable refresher.
Being an entrepreneur can be lonely
Being an entrepreneur will always have moments of loneliness.
Even if you have entrepreneurial friends, only you can fully understand your perspective of the business that you run and the problems that come along with it. Only you can fully understand the emotional aspect of what issues come up and how that can either build on your previous efforts or detract from them. Many individuals don’t give this enough thought beforehand, but the truth of the matter is it's best to plan ahead. Join an entrepreneurial-focused group, share your challenges and your victories, and learn from others that do the same.
You won’t be working less
Many new entrepreneurs seem to have this idea that they’ll be able to create the perfect schedule and potentially work less. In some cases, this may be true but I would not count on it.
Read up on interviews from the majority of successful entrepreneurs and you’ll get a very clear sense that they may play hard, but they work even harder most of the time. In order to get things done, move through development stages, and gain success, you’ll have to put in a fair bit of work and a number of hours. Being prepared, using productivity hacks, and being smart about your workload will take you very far in your journey towards your goals.
Raising awareness about your business will most likely absorb the majority of your time
When I speak to most entrepreneurs they describe the majority of their time being absorbed by generating awareness and traffic, while trying very hard to maintain excitement, or momentum, about what they’re doing. Many entrepreneurs think that setting up their website is the hardest part of their endeavor, but the hard part is getting traffic to your site.
Convincing customers, with their extremely limited attention spans, to devote a few seconds of their precious focus to your message is a challenge. If ever there was a time that communication was important, this is it.
Using social media and having a website is no longer optional
Knowing your customer base is really important and most of your customers can be more easily found online. In a paperless world, there are many ways to spread the word about your venture. One of the best and potentially easiest ways is to create a website or social media page for customers to be directed to. Creating a website or social media page will also add valuable information and entice further customers to take a longer look.
Keep in mind that you’ll only have a few seconds before a visitor gets bored and leaves the page so be sure to have a good hook in place.
Entrepreneurship comes with its fair share of stressful moments
It's true that when you are fully responsible and accountable for your own business that there will be moments of great stress. Remind yourself in these moments that “this too shall pass” but also learn from your mistakes. Being prepared and staying organized is a great way to avoid some pitfalls and stressors, but they can never be completely eliminated. It's a good idea to have a way to de-stress, and never be too proud to ask for help when you need it.
Despite everything, being an entrepreneur has some definitive benefits
Many entrepreneurs love what they do and to them, it doesn’t feel like work. Many others also enjoy the challenge that running their own business presents them, and they enjoy building something new. There are also entrepreneurs that love to work in teams, while some work alone. Entrepreneurship has something for everyone and can be arranged by the entrepreneur at will. Successful entrepreneurs have figured out what works for them and their businesses and they stick to it. Perseverance is a key ingredient not just when starting out, but for the life of your business. Your victories are your own, you are your own boss, and you decide the next strategic move. This may seem like a lot of pressure to some, but it can also be very liberating for others. Only you can decide what kind of entrepreneur you ultimately want to be.
