Real talk about Preparing and Managing your Expectations for Starting a Business Essentials. So you want to be an entrepreneur. You’ve got a big idea, the passion, and the drive. But what does it really take to start a successful business? There’s a lot more to it than just having a great idea.
Realistically, starting a business takes a lot of hard work, dedication, and money. And even then, there’s no guarantee that your business will be successful. So before you quit your day job (as a point of reference do not quit, instead watch my video about turning your day job into your benefactor until you ramp up ) and jump into the entrepreneurial world, it’s important to manage your expectations and prepare for the challenges ahead. Here are some things to keep in mind as you start planning your new business venture.
There is no such thing as firing clients, if you think owning your own business means you get to choose your clients, you are wrong. Yes, you will have some input and that input is based on SOLID marketing, the tools you are using to attract clients. But ask anyone who is in business, we all have clients that challenge us. Firing your clients is a copout. Can you imagine if an Apple employee at the store said to a client “this is just not working you look like a Windows person, so best of luck.” and then imagine deeper that they went on social media and bragged about it.
You cannot imagine it because it would never happen. Yet I see all the time on social media people bragging about firing clients. They are not entrepreneurs, they just replaced one low-paying job with another they are moving towards being out of business and will NEVER LAST. They are not strong leaders and they will never crush it in business. Your Bosses are your clients, your vendors, your employees, and your strategic partners. If you are getting into business to be your own boss, keep your day job. As a matter of fact, take a day off, ask for a raise, demand better snacks in the break room, and a better 401k.
Here is the truth though, owning your own business means you get to implement ideas, manage workflow and design, scale, and grow your brand based on your ambition and vision. That is part of an entrepreneur.
The NEXT BIG LIE about business is the possibility of the 4-hour workweek.
This is a complete lie. I love it though, as a matter of fact, I think it is the strongest tool to weed out the weak entrepreneurs who have the least conviction and ambition. Those are the ones you will take out first in the battle of business.
Now let me explain:
Business is 24 hours a day, 7 days a week, 52 weeks a year. Learning to effectively get the most out of each minute of the day, 60 times an hour, 24 hours a cycle, 365 cycles a year is what should keep you up at night. Great entrepreneurs “love” systems and OBSESS over them. They want to work, but they cannot stop working and never talk about balance because “the work” is the passion and excitement they seek. They also play hard, love deeply and experience everything they can. That feeds and reinforces the passion. So if you’re thinking about starting a business, there’s a lot to consider.
But one of the most important things is managing your expectations. These are some hard truths about what it takes to be a successful entrepreneur. Business requires some real talk about starting and running a business. About your expectations and long-term commitment to the craft.
Sure, it’s important to be optimistic about your new venture. But if you’re not realistic about what it takes to succeed, you’re setting yourself up for disappointment – and even failure.
So how can you prepare yourself for the realities of starting a business?
It’s not easy, but it is possible. And if you want to start a business, you have to be all in. You have to outwork your competition and put in the time and energy required to see your vision through. There will be times when it feels like too much, but don’t give up. Keep pushing forward because success is within reach and never stop hustling.
What has been your biggest challenge starting a business?
How far do you still have to go?
Share in the comments below and let’s help each other push through the tough times.