5 Lessons I Have Learned About Starting a Business

5-lessons-about-starting-a-business.png

Which way are you planning to take in starting your business: starting small or big?

Many aspiring entrepreneurs like starting their own business on a very sophisticated and big note. While others like to begin small and grow it over time. As for me, I like being a perfectionist about it – I always want to do things in impressive and sterling ways, but things don’t always work that way.

If you’re like me, you’re probably taking more time than necessary to actualize your business dream. But sincerely, that has to change if you must become a business owner in life.

Over the past 2 weeks, I’ve been stuck with creating my first ever website and each time I did something on the site, I felt I could do better and sometimes dismantled everything and started all over again. This caused me a lot of time to build and set up my freelance writer’s website.

But the moment I started facing the reality of starting small and growing it later, I was able to get started with my business and here I am now.

Today, I want to ask you: what’s holding you back from actualizing your business dream?

Are you so concerned about cosmetics and perfectionism that you’re finding everything you do not OK enough to go with? If yes, here are my 10 lessons for you and how they’ll help you start your dream business without wasting much time anymore:      

  1. Start Small

You may be thinking that before you start your business you need everything in place – resources, skills, expertise, etc. That might be correct for the most essentials you need for it to take off, but for other cosmetic things or needs, leave them for now and start your business.

Believe me; many great world entrepreneurs you hear about today started their business with little to nothing.  Great entrepreneurs such as Steve Jobs, Steve Wozniak, Bob Evans, Michael Dell, Bill Gate, etc., are good examples of 17 entrepreneurs who bootstrapped their startups from nothing and you should learn from them by reading their stories.   

The Lesson to Learn: Instead of waiting till you become financially adequate, start small and grow with the little you have now.

2.Don’t Be a Perfectionist

You indeed need to do your business perfectly but giving too much priority to perfectionism will only lead to procrastination. Perfectionism is a weakness and it refrains you from doing a certain task, which ordinarily you should be able to do.

You need to get me right. I’m not saying being a perfectionist is bad but you should never let it affect your self-esteem.The Lesson to Learn: Don’t allow perfectionism to create the fear of incompetence in you simply because you think you can’t do certain tasks perfectly.

3. Outsource It

There are some misconceptions you are bound to have as you’re thinking about starting your business. I’m a typical example here. I had a tough time building my business and finance freelance writing website you’re on now.

As a beginner and someone who loves to learn or who wants to cut out independence on people, I believe I should be able to learn from some online resources and use that to build my website. It actually worked for me but not without wasting valuable time that I could have channeled into something else if I had hired an expert to do it for me.

You don’t want to go through the same tough ordeal as I did, so before starting your own business, you need to state out clearly what task you’re going to handle yourself and what you’re going to outsource.

If you’re comfortable and confident about doing it yourself, go ahead and do it. But if you’re not, save yourself the stress and time and hire an expert to do it for you. This way you can start your business straight away and in the professional way you want.

To get things right with outsourcing, here are 6 beginner outsourcing questions you want answered. Check it out for better guide on outsourcing.

The Lesson to Learn: Save yourself the stress and precious time by learning about outsourcing. This will help you in knowing what and when to outsource or why you should outsource.

4. Be Realistic

Many aspiring entrepreneurs take the foray into a business model only because they’re aspiring for the same success as someone else they just read about. It’s not bad to have someone as your model and aim for the same success as he has made or making.

But what makes it wrong is setting unrealistic goals for yourself. Just because someone claims he is making 6 figure monthly doesn’t mean you can start with the same figure right off the bat. You need to start small first with what’s most realistic and then you can do better as you progress.

The Lesson to Learn: Always be realistic when setting your business goals. And when you can’t meet your target don’t be discouraged but measure your results to see where you need to improve or correct things.

5.Be Observant

At times you need to try several methods before getting to know what works and what doesn’t. As a business owner, you can only know what technique works or doesn’t only if you’re observant. Hence being observant and keeping a tab on your success is a must-do-task for every business owner.

If you’re looking for ways to monitor your success, read this blog post by Forbes: 6 ways to measure small business success.

The Lesson to Learn: Always create a business plan to measure your business success and failures. This way you’ll know areas of success and areas of defects that you need to address.

Wrapping Up

These are the lessons I’ve learned from starting a business and I hope you’ll learn from them too and apply them as you’re starting your own business.

What challenges do you have with starting your own business? How did you overcome it and what lessons have you learned from it so far?

Kindly share your experience with me.

Related Article: Small Business Failure Statistics and How to Overcome Them

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *