Entrepreneurship is a roller coaster. Indeed, the life of an entrepreneur is a series of setbacks that need to be worked through. It is rare to have a perfect set of circumstances that are necessary to make your business an overnight sensation, or successful at all for that matter. There will be forthcoming fears, doubts, and the self-defeating conditioning of your upbringing and past. Unwanted naysayers', copycats, and energy vampires will appear in the way of your business. But no matter what happens, your independent thinking, self-motivation, and self- accountability should drive you through the landmines.
The distractions of entrepreneurship contribute to 66% of new businesses failing. As an entrepreneur, your critical job is to stay focused and inspired to keep your ride from coming to a screeching halt. The one thing that will determine your business success is traction and sales. Make sure you wake up daily to be motivated.
Ultimately, your ability to roll with the punches, keep up the energy, be relentless in your pursuit to deliver value, and have good instinctual business sense will help you become the entrepreneur you strive to be.
Here are some tips for aspiring entrepreneurs:
Get Out of Your Comfort Zone- Entrepreneurship is not for everyone and especially not for the faint of heart. Some people are born to be entrepreneurs while others will fall into it naturally. If you can't see yourself leaving the comfort of a substantial corporate salary and starting a new brand from scratch, then maybe the entrepreneurial lifestyle isn't the best for you.
Expect Risks- Entrepreneurship takes a lot of time and sacrifice. You need to be ready to give up everything from job security, financial stability, and social life, and sometimes even friendships to dedicate however long it takes to build the business. Expect to work long hours for little pay, and always be on high alert for whatever you are faced with.
Get Customers- It doesn't matter how socially conscious or environmentally friendly your project is. It doesn't matter how brilliant your cause sounds or how critical your mission or how awesome your culture is, if you don't have enough customers, you will be out of business fast. There are no bailouts for small businesses or entrepreneurs. There are no safety nets on this ride. Your only insurance is your ability to gain customers.
Embrace Failures- It is very possible that despite your best efforts it may not work out, and you have to be ready and willing to accept failure. Failure is significant in the process, and with it comes invaluable lessons and experiences which will carry on throughout your time as an entrepreneur. Remember, you are probably going to fail, and the world doesn't care how many times it happens as long as it is one fewer than the number you get back up.
The world of entrepreneurship is a wild ride. Make sure to make some friends who are in a similar ride. Come by Treehouse Society to meet other entrepreneurs who understand.
Related: Entrepreneurial Work Environment