There is nothing more exciting than launching your business and fulfilling your dream. Starting your business is the easy part, maintaining and growing it is the hard part. Here are the most common obstacles every entrepreneur needs to overcome.
There are many roles and tasks that you will have to do when starting your own business. When you feel overwhelmed, take some time to breath and meditate. Make sure you take your time in writing a business plan that you can refer back to.
Even though no plan survives first contact, the process of writing one helps you put your thoughts and ideas on paper. Then you can set your goals and develop strategies to achieve them. Remember that if you don’t feel overwhelmed when starting your business, then it means you are not doing it properly!
It Isn’t What You Know, but Who You Know
Find mentors that can help you. Their hindsight can be your foresight. They can open doors for you and provide you with advice that you didn’t even think of. Don’t just seek out people or organizations to get something out of them however. Make sure you are also adding value.
One of the best pieces of advice I received was that “it isn’t what you know, but who you know, and more importantly what you do for who you know.” When people see that you are adding value and helping others, they are more likely to help you.
Be Flexible and Adaptable
As I mentioned before, no plan survives first contact. That is a military term regarding the chaos surrounding the battlefield. You can plan a one-hour operations for days, weeks, and even months, but it will never go the way you planned.
Murphy’s Law “what can go wrong will go wrong” always takes effect. The key to dealing with Murphy’s Law is being flexible. If you planned properly, you know what capabilities and limitations you have. Based on that, you will need to adapt to the situation. There are aspects of running a business that’s not very sexy at all. The key is to understand all aspects so you can adjust quickly.
You Will Make Mistakes
Making mistakes is part of what makes you who you are. A lot of people feel scared to make mistakes, but understand that if you aren’t making mistakes, it means you aren’t learning or doing something you have never done before.
One of the best ways to minimize the mistakes you make is surrounding yourself with smart people. This means that you will learn more than everyone else. Making mistakes is the only way you can learn properly. The key is learning from your mistakes, don’t make the same ones twice!
Your Loved Ones Will Doubt You
You will have your naysayers, and often they are the ones closest to you. It could be due to jealousy, because they want the status quo, or just because they are afraid. Don’t feel discouraged but keep pressing on. People who truly love you want the best for you however. Don’t discount their advice as they may have good insight you may not see.
At the same time if they are holding you back because of what they want and not what is best for you, then make sure you distance yourself. You want to surround yourself with people that make you a better person!
Setting up a company is one of the biggest adventures in life. But of course, alongside running a company comes a lot of trials and tribulations. There are things that they don’t tell you about running a business, and perhaps this is because you have to experience it yourself. But whether it’s making mistakes, having your loved ones doubt your abilities, or just feeling like you’re an imposter, if you believe in the business, you must push on!