Tips For Starting Your Own Business
Starting a business can be one of the most rewarding things a person can do. Although it is challenging and risky, building something through your hard work and ingenuity always pays off. Perhaps not always in profits, but even the pride you feel as an entrepreneur is rewarding.
Kimanzi Constable, a contributor to Entrepreneur.com as well as an entrepreneur who began the young age of 19 provides 5 important business lessons that he learned that have followed him throughout his career. He Constable correctly points out that a main driving force behind starting your own business is ultimately the freedom that comes from it. Getting to work on your own schedule and being more in control than you otherwise would be are great benefits to being a business owner, but to get to that point you must first be up to the challenge.
1. Starting a business is harder than anyone could imagine.
The instability that comes with the decision to start your own business makes it all the more difficult. As Constable states, leaving behind a steady paycheck, health insurance and other benefits for the sake of something that, at the time, is unstable and risky is a very frightening thing. For many entrepreneurs who begin at a young age, it is perhaps even more frightening. However, this comes with many lessons. Dealing with failure and criticism is something which you would get used to, and from that you will learn how to take the next steps.
2. Friends and loved ones might not understand your vision
It may get frustrating having to constantly explain your ideas and your goals to those around you. For many people, the idea of leaving behind the stability that comes from having a career is not something they can easily wrap their heads around. They may call you crazy for doing it or think you are a fool, and that can get discouraging.
3. Quitting is not always an option!
Not all business become a success overnight. For some, it takes a lot of trial and error or flat out failure before they can pick themselves up and reach their goals. When quitting seems like an option – it isn’t. As an entrepreneur, you have what it takes to take what you have so far and pivot. Make it work somehow, and make the best of the time and money that you have invested.
4. One day you’ll love your business, another day you will hate it. It’s normal.
This lessons provides some great advice from Kimanzi Constable: “A business is something that may be in your family for generations. During that cycle, you will experience a crazy range of emotions. Never make business decisions during those emotional times. Learn to ride the ups and downs and embrace the life you’ve chosen to live.”
Don’t let your currently feelings of displeasure with your life as a business owner dictate your future decisions.
5. Value the freedom being a business owner provides
If everything went well and you stuck through all the ups and downs that come with starting your own business, you will get to the point where you can enjoy the freedom that it provides. Not just in business but in life as well. Make sure you value that time and let it continue to motivate you to make your business excel.