What 10 years entrepreneurial journey has taught me
This year I was actually a bit shocked to ‘find out’ that I started my entrepreneurial journey 10 years ago! Ans what a journey that was! Here are 10 things I have learned that might also help you.
- It is ok to start it as a side-hustle
Often, we can be a bit impatient when it comes to starting our own business. We found something we love and we want to do to earn money with. But the latter is not as easy as one might think. The first sale will usually not come immediately. You also have probably some expenses before having income. I started my Coaching busines alongside a full-time job. Then I moved to a part-time job and continues my entrepreneurial journey. It took about 1.5 years before I was able to support startups full time without another job.
- Patience is one of the most important skill as an entrepreneur
Things will not going as fast as we think, not work out at all or we might have to change our offer according to what is happening in the market and potential customers are telling us. I’s a long journey and we need a lot of patience – fir ourselves, others and our business.
- Outsourcing as early as possible will give a real push
At the beginning we usually don’t have a lot of money that we can invest in our company. This means we try to learn everything ourselves an also do everything ourselves. But we need to value our time as if it would be money. It is much better to outsource something that will take us too long, something that we don’t like and someone else can do much better than us – as early as possible. Whilst someone else is taking tasks off your shoulder you can focus on other things in your business which will also help you to move forward faster.
- Being honest I the best way
Being honest and authentic is the best way to do business. The other person will realise something is ‘off’ if you are trying to be someone else or trying to hide the truth. In the end we are all human, not perfect, learning along the way, learning from each other. Others will be able to relate to you much easier and like you if you are your true self and not trying to invent something that you are not.
- Your business will change over time
Try not to be too tight with your business and what you are offering. There are too many factors you cannot influence but that will influence your business and how it is going. Your business might morph into something that you will never have tough of. Be open to it and go with the flow taking calculated risks.
- Putting money aside right from the start
At the beginning we might start out not even covering our costs or just about to do so. The last thing we want to think about is putting money aside. I was also thinking like that. But then there will be things you will have to pay – taxes for example and you might panic where you will get that money from. Therefore, it is advisable to put away a percentage of each earning for some future payments you have to do.
- Having a supportive network is everything!
All entrepreneurs, start-ups, freelancers, solopreneurs, mumpreneurs etc. go through similar, if not the same, challenges. We can learn so much from each other and avoid mistakes that others made. But a supportive network is not only important for that. Maybe we need a shoulder to cry one, bounce ideas off each other or get some feedback for a new product we want to create. This is where your network comes in – this could be fellow entrepreneurs, friends or family – best a mixture of all of that.
- Take some time out
Being in love with your own business and passionate about what you do is crucial to move forward also I it is not as easy as you wish. The danger is that we never switch off and rest our brain. This can also lead to being stuck and not seeing things that are in front of you. Finding a hobby outside of your business and taking time out will benefit you in many ways: your personal health and wellbeing but also your creativity and inspiration for your business.
- We all need appreciation
What a lot of people don’t realise is, that even when things go well and you are running a successful business, we all still need appreciation and positive feedback. Collect positive feedback you received over time and keep it close by to have as a little ‘pick-me-up’. Make sure you also appreciate others for their work and tell them
- Technology can be a game-changer
Using technology can be a great help. It can save a lot of time and avoid mistakes. However, we can also get wrapped up into too much and wasting time using it. But investing into some key technologies can really make a difference in your business. Choose and use it wisely.
To celebrate my achievement, I have created an anniversary offer for you where you can join the Academy with an 80% discount. Check it out 🙂