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What You’ll Learn From Starting Your Own Business

What You’ll Learn From Starting Your Own Business

For many people starting your own business is almost a rite of passage: a wonderful experience, but incredibly daunting. Nevertheless, there is always much you can learn from starting your own business, whether or not it succeeds or fails, which can prepare you for the future and also experiences outside of entrepreneurship. Here are some of the top ones considered to be the most important:

Organization is key

Take your time. Keep notes. Organize your paperwork. This is crucial as a start-up in order to monitor the company’s development and planning for scalability. Keeping updated spreadsheets, preparing templates, and organizing your paperwork is absolutely crucial. It saves up your time of having to find old documents, and makes it much easier to track progress.

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You can’t plan for everything

You’ve got your business plan, you’ve prepared all the finances and documented everything – you’re ready to go. This is one more for those who are quite controlling and have a predisposition to order: you cannot plan for everything. I repeat, you cannot plan for everything. There will be unexpected payments which crop up, or unplanned expenses. Nothing ever goes as you plan for it to, and it is exciting. It’s all part of the start-up culture.

If you have a back-up plan, you’re planning to fail

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Before starting my own company I had read Napoleon Hill’s Think and Grow Rich. This notion was one which came up in the book, and intrigued me quite deeply. Many people say that it is important to bootstrap, and have an exit strategy just in case things do not go to plan. But if we think about this idea in more depth, by preparing an exit strategy you are already lacking faith in your idea. If you do not believe in yourself or the idea, perhaps you should reconsider whether or not the start-up is even a good idea. More often than not, it is the people who push through the mud, and have entire faith that their product or service can deliver and is necessary tend to be the companies which succeed. Do not forget, Pemberton only sold $50 worth of Coca Cola in his first trading year but he believed in the product enough to keep going.

Taking that step

Deciding to start your own business is a very daunting process. Accepting that you are likely to be living off canned food in candlelight for a few months (a bit of an exaggeration) can be very difficult to realize, and many people will quit halfway through because they find the whole process too demanding. However, if you manage to follow through, not only is it exciting from the business point of view, but can be seen as a personal achievement. I often liken this to the scene in Indiana Jones and The Last Crusade where he takes the step into the unknown, relying purely on faith, and reaps the rewards. This links back very much to the former point, in that having faith in not only your product, but yourself, is crucial. Many people tend to discover more about themselves when struggling through the initial stages of a start-up.

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Objectification & Separation

As much as you may adore your business, the product, and your team, it is important that you remain somewhat objective and separate your personal life from the business. Otherwise, big decisions become difficult, such as whether or not to keep a member of the team on, whether or not to discontinue a certain line, or even whether or not the profitability of the company is there. An easy way, as a beginner, I found was to make monthly or bi-annual targets. It gave me clear sight of whether or not we were really doing well.

Criticism vs. Cynicism

There will always be people telling you that:

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  • “You won’t last five months.”
  • “It’s a stupid idea, no one will buy it.”
  • “You can’t do that.”

This is pure cynicism. Utter disbelief, or sometimes jealousy, in what you are doing. Pay no attention to this – these are people that will try and break you, when you are simply choosing a more adventurous path in life. However, pay attention to criticism, especially when it is constructive. If someone tells you that perhaps a different color will be more appealing, or lowering the price might be a good idea, then take these into consideration. Filter out the useless cynicism, and engage in constructive criticism.

Featured photo credit: Ninjamarketing.it via cdn.ninjamarketing.it

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Last Updated on August 10, 2020

15 Simple Things You Can Do To Turn Your Life Around

15 Simple Things You Can Do To Turn Your Life Around

Life can be difficult. It can seem like nothing goes your way and the world is against you. The world can be a very cruel and lonely place. But there are things that you can do to begin turning your life around.

Whether you’re in a job you hate, struggling with a loss, or just not on the path you expected, only you hold the key to turning your life around. Here are 15 simple things you can do to turn your life around.

1. Read Daily

Reading lets you escape to a different place within your mind. It can be relaxing and calming. And it helps stimulate brain activity and keeps you sharp.

Reading daily can help you spend time away from the problems of the day and allow you to escape into a world of endless possibilities. Changing your perspective can help you turn around your life, and reading is a great place to start.

Here’re some recommendations: 20 All-Time Best Motivational Books to Inspire You

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2. Put Your Goals in Writing

When thoughts are banging around in our heads, they can easily slip away. Walk from one room to another and you forget what you were doing!

Make sure your goals are concrete and written down. This will help you stay accountable to yourself and is the first step in completing your goal. By writing it on a piece of paper, you must put in the thought of how you should word it, what exactly you want to accomplish, and will make you consider if it’s truly worth it.

3. Prune Your Relationships

Too often, relationships can be destructive. This is often looked at through the scope of romantic relationships, but also consider life-long friends, family, and acquaintances. Are the people you spend time with bringing you down? Are they helping you achieve your goals or hindering? It can be difficult, but pruning your relationships can be the quickest catalyst in turning your life around.

4. Make New Friends

Don’t underestimate how a new person or group of friends in your life can change your outlook. Be open to meeting new people, both at work and in your personal life.

5. Get Healthy

When you feel great, good things seem to come your way. Working out helps you feel better about yourself and can help change your outlook on life. Eating right can help you have the energy to do more. Getting healthy can improve your entire outlook on life and help turn your life around.

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6. Start Saving

For many, financial struggle can weigh heavy and be the cause of many problems. Without a change of job or career, changing your financial situation will take time and effort. Start saving with each paycheck to help build toward your future. Even if it’s a small amount each check, consistency in saving can help you change your path in the future.

7. Start a Business

Working for others can be tough. You may be underemployed, under-utilized, and under-appreciated. Starting a business can help you take control of your financial future.

Understand that you don’t have to quit your current job to start a business. Find something you love and have skills at and do it in your free time. If you’re in creative services, freelance. If you’re great at carpentry, build tables to sell. If you are a talented painter or crafty, start an Etsy store.

You may find that your side passion business can turn into more. Or, if you have the opportunity and skills, take the plunge and go all in. Working for yourself is challenging, but a great opportunity to change your life.

Here’re some tips for you: How to Start a Small Business with Little to No Money

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8. Find Opportunities to Help Others

Helping others can change your outlook and help turn your life around. Changing the way you think about the world can play a part. But helping others can also open up doors you never had available. Being a good person can help you get out of a funk and can be the catalyst for change.

9. Learn a New Skill

When you have more skills, additional opportunities will be presented. If you’re tired of your blue collar job, take classes to learn computer skills. If you’re struggling to move up in your company, find a skill that makes you more valuable. And if you want financial freedom, learn a skill that can help you change your life. Knowledge is power.

10. Stop Watching TV

Watching TV can keep you distracted and take up a lot of time. Cutting out the time you spend watching TV and replacing it with more productive activities can help you accomplish more and stay focused.

11. Listen to Inspirational Content

You can learn much about yourself from others. Find inspirational and educational content that matches your needs and give it a listen. You may find that the advice from others in similar situations can give you the boost you need to change your life.

12. Stop Complaining

Negative thoughts and talk can turn people against you and make your outlook grim. Stop complaining so much and make the best out of your situation.

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13. Find or Rekindle Your Passion

Doing what you love can change your entire outlook on life. When you’re doing things you hate, you can be more stressed and make life much harder than it needs to be. Find things you’re passionate about and rekindle the love for what you enjoyed in the past. Doing what you love can turn your life around and make each day more rewarding.

14. Take a Vacation (or Staycation)

Sometimes, hitting the reset button is all it takes to improve your situation. Taking a vacation, or staycation, is a great way to get away from the stress of the daily grind and recharge your battery. A vacation can give you the perspective you need to change your life.

15. Re-evaluate Your Attitude

How you view the world will often reflect in how you treat yourself. Re-evaluate your attitude and ensure that you’re doing all you can to make the most out of every situation. A change in how you view your situation can often be the push that helps you change your life for the better.

More Tips to Help You Change Your Life

Featured photo credit: Conner Ching via unsplash.com

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