If I say entrepreneurship is a struggle, it is an understatement. Becoming an entrepreneur is the biggest risk you can take for your career as there is always a certain level of uncertainty involved. Not every entrepreneur makes it and the first few years are going to be a struggle which you cannot give up in the middle. There are many who thought they could succeed but ultimately failed.
I am an entrepreneur from the past 4 years as I have faced a fair share of ups and downs. What I have understood in these years is that entrepreneurship shows you qualities about yourself that you were not aware of. Here are a few things I have learned as an entrepreneur in the past few years;
1. If You are Sure, Go for It:
When I decided to start my own business, people around me glanced at me as if I had spoken the unthinkable. I had a good salaried job and a good number of years of experience. My salary and other benefits I received were excellent hence my family was not really convinced about my decision. But, I always wanted to work independently and start my own business and as I had already gained a good number of years of experience and also built a good network in the industry, it looked to be the perfect time to start my own company. I did have certain doubts as no one else seemed to believe in my goal, but I still went ahead with what I had in my mind.
When I look back today, I simply realize that I was convinced and confident about the fact that I could do this, and I was right about it.
2. Entrepreneurship Requires You to Struggle:
Entrepreneurship looks amazing from the outside but only the entrepreneur knows the inside struggle. Social media showcases entrepreneurs when they succeed but no one has witnessed the behind the scenes. To reach that level of success, entrepreneurs struggle day and night, face multiple failures, struggle for funding and try to make investors believe in them and their dreams. The idea of being your own boss sounds cool but in reality, entrepreneurs are the people who have to work the maximum number of hours in a day to succeed.
3. You Have More Skills than You Thought You Did:
Before really starting my company, I knew I had experience, but the best moment was when I realized that I had more knowledge and working experience than I initially thought I did. I also realized that many of the experts who earn millions of dollars, still do not possess certain skills which I do.
Just because you are new in the market does not mean you have lesser knowledge that the established players. Do not underestimate your skills. Strive to be the best and improve your skills every day. Do not stop learning ever as being an entrepreneur means you should become a life-long learner.
4. When You Do Not Make Expected Profits, Look to Fill the Gap:
It is obviously a known factor that in the first few years you will not be able to earn much profit, but you still have to set realistic goals. And, if you are unable to achieve those goals then either your planning is at flaw, or you are not doing enough to keep the company afloat. Switch to rescue mode and start finding alternate ways to fill in the gap.
My business was making slow profits in the first two years but during the third year, we could not reach the expected profit margins. I had to make some quick decisions, to make up for the lost money by cutting off some expenses and starting off a side business which had the potential to make huge profits in a small amount of time. Through a crypto trading, software by de.btc-loophole.com We made an investment in the crypto trading market. It was a bit of risk hence I made sure to only invest a part of the money which we could afford to lose but due to the accuracy of the software; we made good margins of profits which made up for the lost profits due to the core business.
Entrepreneurship requires you to make quick and independent decisions. The consequence can be good or bad and you should have the stomach to face it. If you are up for a roller-coaster ride of failures and great successes, entrepreneurship is for you.