5 Significant Truths Every New Business Owner Should Know
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Owning a business is a rewarding experience for so many reasons. Social media shares some of the the best of these with milestones, glamorous instagram feeds, upbeat seminars, and community building networks. There’s a fun and adventurous life to be had as an entrepreneur. But there’s a lot more that goes on behind the scenes of selling your product that some may seem to forget or want to open up about. And while the following realities aren’t the most fun, they are every bit a part of a progressive business as setting goals and getting paid. So, if no one else has, allow me to be the first to tell you about what I believe to be 5 significant truths about owning your own business.
- It’s lonely. This is one of the hardest parts about owning your own business, but it can be fixed. When you’re passionate about something, it’s easy to get your head lost in the clouds, excited with all your dreams and hopes. But every now and then you get brought back down to reality only to find out that, maybe, there aren’t too many people around you that care nearly as much about your career choice/industry type as you do…if even at all. It could be friends, it could be family, even your spouse. And sometimes that’s really hard. You care so much about something, know the ins and outs of it, only to want to talk about it nonstop to people whose eyes quickly gaze over 5 words into your next “big idea.” Suddenly, you feel like you’re all alone in this experience and have only yourself to lean on. But you don’t. It’s imperative to find a community of like-minded people who will support you and understand what it is you’re going through, where you need to go, and can help and encourage you to keep on moving. It’s important to have loved ones cheering you on, but surrounding yourself with others who are going through the same thing will greatly improve your success and personal growth.
- It’s expensive. I know what you’re thinking, “Well, it doesn’t have to be.” And you’re right. But I’m not just talking about finances, either. It’s emotionally, physically, and mentally expensive too. However, financially speaking, sooner or later, hopefully, your business is going to grow. And to be broad about it, this could mean clients or simply a growing need for more collateral (business cards, branding, advertisements, etc.) And all this takes money. It’s true that there are many businesses that you can start for under a thousand or even a hundred dollars. But that’s starting. Maintaining a business which I assume you want to grow…to make a profit…takes investing. Smart money choices are one of the key elements in a successful, thriving business. Get a budget and stick to it.
- It’s exhausting. This is one that I particularly was ignorant to. I’m a mom. I know what it’s like to be tired. But owning a business is just like raising another child. You have to nurture it. You have to stay up into the wee hours of the night working through issues. You have to feed it with your time, money, and intelligence. And sometimes you have to say no to “fun” and “yes” to the responsibilities of keeping your business alive. But it’s the determination to climb up a mountain that gets you to the top. It’s not easy. But worth it.
- It’s uncomfortable. When I first started my entrepreneurship endeavors a few years ago, I thought, “Hey, this will be easy. I’m a good photographer and now I can get paid for it!” I knew that I’d have to work at finding clients but I didn’t really know how much work that was going to take (not to mention rebuilding my client list afte ra move!). But the fact of the matter is that when you’re selling a product, you have to step out of your comfort zone and get people’s attention. You have to believe in your product and believe in your skills, to sell your service. Even if you have the lowest self-esteem, if you want to grow your business, you have to portray the utmost confidence (I still get the jitters at times!). And that is not easy! But as you plug away, getting turned down or making a sale, slowly you’ll find that you really are that good and your product really is that amazing. And once you truly believe that, so will everyone else. Even then, if not everyone is raving about your product, your optimism and pride will definitely peak their interest. Hello, leads!
- It will change your life. Growing up, I never would have imagined that I would be owning my own business, making money for things I love to do. I never thought I would be talking about a product that I personally created and could sell – to complete strangers! But owning your own business is one of the best ways to push yourself through what you thought was the barrier of your limitations, find new strengths, and strengthen your weaknesses. Owning your own business is an exciting way to find purpose outside of the “typical” day job, to meet people whole will forever impact your life for the better, and to see the world through a lens of creativity. It gives you the opportunity to serve your community in ways you couldn’t have otherwise. I can honestly say that owning my own business has made me a better individual and I am so excited to see where it takes me.