Next month will be 4 years since I had a proper job and I must say I have learnt so many lessons along the way. I will share some of them:
1. It helps to have some (well, maybe a lot of) savings when starting out, or at least a source of income. It takes a while before one starts earning enough money to live on (there are some lucky exceptions).
2. If you are married/ in a relationship, get your spouse on board. They may not understand your “madness” but as long as you carry them along on your journey they will be there for you. Whatever you do, don’t be dismissive by saying things like “You are not an entrepreneur so you wouldn’t know” or “You never support me” even if it feels like this sometimes. This world is miles away from them so learn to bite your tongue and also work on your communication skillls.
3. Don’t get frustrated if your loved ones are not as excited as you are. Human instinct usually defaults to protection, so they may not get how you can leave a good job with a pension to start your own business where the risks are enormous. They will naturally try to stop you. You wouldn’t let your loved one get in harms way, would you?
4. There will be times when you have to go back to having a job, be it part or full time. This doesn’t mean you have failed; you are simply doing what you have to do to survive. And, so what if you have failed at your “exciting” business venture? NEVER label your self as a failure. The business may be failing but that doesn’t make you a failure. You are trying out different things and one day you will find the right path. Failure is just feedback.
5. Get comfortable with where you are in your business journey and yourself as a person. Don’t do things because other people are doing them. Not everything is right for you. Develop a sense of self awareness. Often we may feel bad because we are not keeping up with the pace of other entrepreneurs, and some people will even say you lack discipline. Sometimes its more than discipline; its just may not be you. In addition, I often hear people say you have to work sooooo many hours when you are in business. However, not everyone is like that. In addition you have to “save some of you” for your family and relationships.
6. Renew your mind CONSTANTLY. I can not emphasize this enough. There are so many business owners who run their businesses with the same mindset they had when starting out. This is not sustainable and often leads to stress and overwhelm because the business will eventually outgrow you (or the other way round). When I first started my journey, I was not completely clear on who my IDEAL client was (coaches, consultants, freelancers, and therapists). That piece evolved, along with my business, because I had an open mind.
7. Don’t compare your year 1-2 with someone else’s year 5-7.
8. Ask for help. This is not a weakness but rather a sign of strength. Only the brave will admit that they have a need or don’t know. Be honest with yourself and those around you.
If you are starting out a business, you might find this interesting: What NOT To Do When Starting Out In Business
If you would need help from an accountant who totally understands you can get in touch with me here: Contact Violet
On top of being an accountant, I am a Neuro Linguistic Practitioner and Life Coach so not only do I crunch numbers, but also have a great listening ear. Don’t suffer in silence, reach out.
I follow quite a few entrepreneurs as I find business quite intriguing. This week I totally loved Jon Acuff’s blog article. He wrote about his 9 year journey and most of it resonated with me.