Entrepreneurship has been romanticized! Or maybe it’s just the thrill and adrenaline caused by the prospect of running your own business couple that with the hope of earning profits, actualizing your ideas, and having control of how to spend your time, running a business is a rosy idea. Just like every other venture, there is always going to be things you will never know until you are deeply involved in an activity. At times entrepreneurs wish they would have been better informed of the details of running a business. Here are four facts one is ever telling you about running a business:
- You are trading an 8-hour job for 15 hour job:
Many entrepreneurs are excited to quit their jobs to start businesses with most citing hectic working hours and lots of work. Everyone wants to control their time and how they spend it. What no one will never tell you is that running a business is hectic and demanding. If you have been complaining about eight hour days, prepare for a minimum of 15-hour working days. Running a business requires that you spend time working on the business and in the business and between those two activities you will barely have any time to spare.
2. Early success is temporary luck.
When your business starts with a boom and you make huge profits, you should remain disciplined and stick to your vision. Celebrating too early in business is treading on dangerous grounds as business success is not guaranteed. You should remain focused and cut the big ego when you’ve made a few shillings in profits. When business slows – and it shall happen, you might not recover if you didn’t reinvest in the business when it was thriving.
3. Connections and Networks are a lifeline for a business
Never lose your connections and networks when you start your venture as they will play a critical part in supporting the prosperity of your business. Surrounding yourself with the ideal clients and mentors will go along way in making the right decisions to grow your business. It’s beneficial you expand your connections and keep your networks intact for the sake of growing the clientele of your business.
4. There will be a lot of Advisers
When you start running a business, there is always a lot of unsolicited advice from all angles of the world. Different opinions from people about the way you should run your business will emerge. You have to stand your ground and follow what you think works for you. If you are stuck you should seek the advice of a professional or your business mentor who’s in a better position to render good advice that is beneficial to the business you are running.