Starting a business is both exciting and daunting. It’s an adventure full of unknowns, with the potential for great success and equally great failure. But no matter how prepared you think you are, there will always be surprises. If only someone had warned me about some of these things before I took the plunge into entrepreneurship!
Working Silly Hours
Running a business may seem like an incredible dream come true, but the reality often involves extra long days and even longer nights. If your idea of working “overtime” is an extra hour on a Friday afternoon, then you may be in for some rude awakenings.
While it’s essential to put in the work when running a business, it’s equally important to keep your sanity by finding moments of peace between chaotic deadlines and long hours.
Getting Used to Stress
If there’s anything true about running a business, it’s that no two days are ever the same. You might expect cries of joy from customers one minute and heartfelt complaints the next. But if you prepare for the wavey emotions as well as the unexpected twists and turns, you are sure to come out on top!
Think of it this way: At least when you face high-stress levels in business, you can take solace in knowing that at least it comes and goes like everything else in life.
Financial Instability
Starting a business can be a great adventure, but it also brings with it the risk of financial trouble. Nothing’s guaranteed when running your own show, and if you’re not careful you could find yourself in financial debt faster than you can say ‘bankruptcy’.
Of course, that doesn’t mean you should give up on those entrepreneurial dreams. With careful planning, budgeting and a whole lot of luck you can bring in more money than ever before. Just remember to always have a plan B and keep an eye out for obstacles that might be lurking in the background!
Continuous Learning
While continuous learning requires dedication and effort to stay on top of your game, there’s something deeply satisfying about diving into new material that could expand your expertise.
But let’s not forget the hilarious stuff you learn; like that time I incorrectly assumed that a “rabbit hole” is some sort of entrance to Wonderland! It turns out, it’s an informational journey with no end in sight! – Don’t get lost along the way!
Constant Decision-Making
Every morning, business owners reach into a mysterious box to pull out a new decision-making challenge. Monday could bring the choice between attending a management meeting or making yourself a second cup of coffee. Tuesday will undoubtedly involve an HR query – can an XYZ employee have a work-from-home day? Wednesday has to do with choosing whether to invest in advertising or PR campaigns and Thursday requires answers regarding whether it is time to hire additional personnel.
It’s like playing an enormous game of Jeopardy where the stakes are high, but the correct response is never easy! Thank goodness for Friday; when all remains undecided, there are always beers at the local bar to celebrate surviving yet another week of heavy decision-making…
If I hear the word PIVOT one more time…
Being able to adapt in business is like a game of Snakes and Ladders – you never know where you’re going to end up! As the market can change rapidly, business owners find themselves on a roller coaster ride, trying to stay one step ahead and constantly re-evaluating their approach.
No one expected the pandemic, but those able to capitalize on new opportunities, quickly adjust their strategies, or pivot (..and there it is!) were the ones who triumphed. Fortunately, business owners are an adaptable bunch and as they say – when life gives you lemons, make lemonade (or in this case ‘lemon-flavoured hand sanitiser’!).
Personal Sacrifices
Being a business owner can be a tremendous amount of work – and some days it feels like it’s all work and no play. It certainly doesn’t help that the daily “to-do” list never seems to shrink, leaving many business owners feeling guilty for not spending time with family or time for themselves.
But don’t worry too much! It takes strength to pursue your dreams, and although it might cause a shortage of sleep, spare underwear and specially prepared meals, the reward of reaping the success of your own hard labour is worth the sacrifice.
The Need for Self-Discipline
Running a small business takes focus, and that’s why it’s important to keep yourself on the straight and narrow with self-discipline. Otherwise, it can be too easy to succumb to a much more attractive option: drinking craft beer while watching YouTube tutorials on cleaning your gutters – which is certainly something many entrepreneurs have chosen.
Even if that doesn’t seem like time well spent, staying focused on what needs to get done is essential for success in life and business, no matter how many craft beers entice you! So keep your priorities in check and remember what’s most important – because drinking craft beer could wait.
Risk-taking
Starting a business during the Covid-19 pandemic may seem like a crazy proposition, but it can be quite the opposite in many ways. With careful planning and the acceptance of calculated risks, entrepreneurs have an advantage that they didn’t previously have – the opportunity to strategize and innovate with greater ease than before.
It helps if you’re okay with making mistakes along the way as well! After all, isn’t ‘trial and error’ an unwritten part of any successful entrepreneur’s playbook? But when done correctly, taking this calculated leap of faith could prove to be very rewarding. All it takes is a little courage and willingness to put your skills to good use.
Strong Leadership Skills
As a #mumpreneur, I feel like I am expected to show superior leadership skills. The problem is, I cannot even seem to get my life organised – from finding mismatched socks in the morning to forgetting if it is formal or sports uniform day.
Despite these obstacles, I remain determined to carry on with my business aspirations and lead the way. After all, it’s much easier to prepare for success than to deal with failure later. I will keep focused and make sure that my end goal is always in sight. It may not be easy but hey – life isn’t meant to be easy.
Knowing When to Ask For Help
As your fellow business owner, I understand how isolating, and overwhelming running a business can be. That’s why it’s crucial to seek advice and support from mentors and advisors with expertise in areas where you need help.
If you find yourself struggling with bookkeeping, don’t hesitate to reach out to Bespoke. We provide personalised bookkeeping services tailored to your business’s unique needs. With our help, you can spend more time growing your business and enjoying quality time with your loved ones, knowing that your finances are in good hands.
