1. It gets lonely at times!
Until you get around to employing other people, business owners are on their own. Don’t be disheartened when friends and family don’t demonstrate the same enthusiasm for your enterprise as you do, you need to prove your company’s value and worth to get even the closest people to you onboard.
2. Unwavering attention is nessecary
Always stick to a schedule or plan when you work. When you work underneath someone else, it’s easy to lose focus, do that when you’re your own boss and you reap the consiquences. Be strong and don’t give in to activities that will distract you.
3. The income can be sporadic
You’ll quickly learn the value of an emergency fund when you’re an entrepreneur. The income could build to be good, but it will be inconsistent so be prepared for the highs and lows. Don’t follow every move someone else had made in terms of investing money, make your own decisions on what’s best for YOUR business and test different things with small amounts.
4. The world is full of time-wasting things
We live in the information age, which has brought on information overload for many entrepreneurs. We see something that works, and we want to try it for our business. To make progress in your business, you have to focus your time on what will help your business where you are. As you grow, learn and then implement. Continuing to learn without taking action will hurt your business.
5. You can’t be everywhere all the time
Running a business involves many moving parts. As you start out, you can manage them on your own. Eventually, there’s so much to manage that you can't focus on things that will help your business grow. Today virtual assistants and freelancers can take on some of the load so you can focus on growing your business. Trying to be the “jack-of-all-trades” only hurts your business in the long run.
6. You need to educate and test yourself constantly
Everyday we read blogs, listen to podcasts and watch videos that offer strategies to help our business. We see the success of some great entrepreneurs and we’re tempted to copy them. Smart entrepreneurs have figured out that copying isn’t enough. If you see something that works, testing is the only way to ensure it will work for your business. Testing gives you valuable feedback from customers, which helps you in creating products and services that generate income.
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