The Life of An Entrepreneur
It Isn’t Always Pretty – But It’s Always Exciting!
So, you’ve decided to be an entrepreneur!
The attraction of being your own boss, doing what you love to do, making your own hours, not having to answer to anyone else, and making your own money. Sounds exhilarating and fantastic, right?
Yes — that’s right, entrepreneurship absolutely delivers those wonderful benefits and what happens for many causing them to leave behind their entrepreneurial dreams, is that other characteristics that come with entrepreneurship take them by surprise.
“I get to be my own boss!”
Tip #1
Be Your Own Boss and Surround Yourself with Other Bosses
Yes, it’s wonderful — and scary at times too. Knowing that the ultimate responsibility of the success or failure of your business rests on your shoulders alone can be a heavy burden to carry.
I remember when I worked for an attorney and was the second in command, while I always treated his business as if it was my own, there was comfort in knowing that the buck didn’t stop with me. When I took the leap of faith in 2002 to start my own company, it came with a mix of excitement and fear as the safety net of having someone else to fall back on disappeared.
What I learned was that the net didn’t have to disappear if I surrounded myself with other business owners who offered council and advice.
“I’m doing what I love to do!”
Tip #2
Focus on Your Strengths and Outsource Your Weaknesses
Yes, and what you may not have known or prepared for are the many things you’ve got to do besides what you love in order to run a successful business. Things like marketing, sales, crunching numbers, creating business plans, projections and it’s those tasks that can cause you to feel frustrated and overwhelmed.
To have success doing what you love AND having the money follow, it’s essential that you also learn the science and art of running a business. This does not mean, however, that you must do all of those things all the time.
As quickly as you can, hire a consultant or business advisor to help you identify the tasks you should continue to do and those you should outsource.
Learning to delegate so that you invest the majority of your time, talent and energy in areas of your highest and best use will propel your success as an entrepreneur.
“I get to make my own hours!”
Tip #3
Schedule Your Time Thoughtfully; Take Care of Yourself as Well as Your Business!
Ah, yes … but perhaps you didn’t realize that in the beginning especially, you’d be investing more hours than you ever would have at a 9 to 5 job! This is why it’s so important to be clear on your passion and your long-range goals so that you stay inspired and motivated even when you wish it was time to clock out. There’s no clocking out for entrepreneurs. Does this mean you have to work 24/7 each and every day?
NO — what it does mean is that you’ve got to plan your time so that you schedule in time for rest and recreation, otherwise you’ll get burn out from feeling that you should be working 24/7.
“Finally… I don’t have to answer to anyone else!”
Tip #4
Answering To Others Is a Good Thing!
This is a big misconception that can derail your entrepreneurial dreams! While you may not have to answer to a boss or manager, as an entrepreneur you actually have to answer to more people than ever before … your customers! Hopefully, your phone will be ringing with lots of calls from your customers and answering to them is what you want. Fulfilling the needs and desires of your customers, as well as hearing their challenges and complaints, are key in running a profitable and enjoyable business.
“I get to make my own money!”
Tip #5
Make Your Own Money and Make Lots of It to Build a Great Team!
Yes … and then you get to share it with Uncle Sam, your employees or sub-contractors, pay for office space, computers, software, websites, etc. Making the leap from employee to entrepreneur requires a mindset shift from – being ticked off at ‘The Man’ making all the money — to understanding that running a business requires involves additional expenses you may not have considered.
The good news is that by learning to leverage the time, talents and resources of others, your income potential is infinite!
Nancy Matthews is a Leadership, Sales & Marketing Expert. Reach her at https://nancymatthews.com/
