Most of us want to become our own bosses. We dream of leaving our day jobs someday and start our own businesses. We see the glamorous lives of successful entrepreneurs and their stories inspire us to get into entrepreneurship as well.
But do we truly have an idea how entrepreneurship, most especially in its early days, looks like? Here are the things that you need to know before you get started in business:
It’s not easy.
Being your own boss isn’t like being an employee who is working a 9-to-5 job and performing routine tasks for years. Starting and running your own business means figuring out a lot of things. There’s no manual that you can use and follow. You need to figure out what you need to do in order to build your business and make it successful most of the time. If you are a person who got used to performing routine tasks handed over to you, then you might find entrepreneurship hard at first.
It’s not always glamorous.
And because entrepreneurship isn’t easy, things will get messy most especially in the early days of your business. You’ll find yourself in a lot of tough situations like cash flow problems, supply delays, tax filing, and a lot of headaches you won’t experience if you are hustling in a 9-to-5 job.
Passion isn’t enough.
Following your heart isn’t enough to become a successful entrepreneur. Running a real business with just passion won’t get you anywhere. You need to have actual business skills in order for you to lead your business to success.
You need to know how to sell.
And this is one of the most important business skills that you’ll need to learn. If the idea of selling a product or service scares you, then your business will face a lot of financial problems in the future. Regardless of how much passion you have for your business, if you can’t sell your products or services, you will soon be out of business.
You need to know how to handle money well.
Money is an important part of your business. And as an entrepreneur, you’ll make tons of financial decisions most of the time. If you are the type of person who focuses on vanity just to make your business look big, chances are high that you’ll run out of gas sooner rather than later. Handling capital well will enable you to have enough cash on the bank that will allow you to operate even during challenging times or expand your business that will potentially bring more money to the table.
You need to be tough.
Starting, building, managing, leading, and expanding a business is a challenging task. You will certainly face a lot of obstacles that will test your patience as a business person. Being emotionally intelligent and mentally tough will give you the advantage during hard times in your business. Entrepreneurship isn’t easy so you need to be tough.
Like all walks of life, entrepreneurship isn’t all glamour. In order for you to achieve a certain level of success that will increase your lifestyle as an entrepreneur, you need to undergo a lot of challenging situations that will either make or break you as a business person.