Start A BusinessEntrepreneurship4 Hard-Won Lessons from Successful Entrepreneurs

4 Hard-Won Lessons from Successful Entrepreneurs

If you have any experience at all building your own business, you probably know that things rarely go smoothly. Instead, running a business comes with burnout, unexpected problems, and star employees who quit. If you are to succeed at building your business, you need to look at the lessons that other entrepreneurs have learned the hard way and take strength from them.

Know that Your First Idea Isn’t Usually Your Best One

lessonsWhen you first launch, the product that you sell is usually not in its best shape yet. Usually, you only hear negative feedback, or, even worse, you see that your market ignores you. People usually don’t click on your call-to-action buttons, or they click on Unsubscribe to get off your email list.

It’s important to understand, however, that your initial product is usually incomplete. You can and should do much better in order to have people get excited about your offering. It usually takes a couple of versions or years to evolve your product into its best form. It’s not about getting it perfectly right away; it’s about getting there eventually.

The lesson to learn is that you can’t get defensive about your ideas and products. You simply need to focus on testing them and making changes as you build towards improvement.

You Shouldn’t Hire the Wrong Person Even if There is No One Better Available

When a new entrepreneur makes their first hire, it’s usually the low salary and the personal dynamics that appeal to them, rather than any knowledge of what the hire brings to the job. It only takes a short while, however, to realize how hiring for anything other than competence doesn’t work out well. It is only likely to prove costly in the long run.

The lesson to learn is that in the beginning, you should only hire employees when it simply isn’t possible to make do without them. Take it slowly, carefully consider whom you hire, and be sure to not keep employees around for long once you realize that you’ve made a mistake.

You Need to Take Care of Your Mental Health

lessonsStatistics show that depression and ADHD tend to appear among entrepreneurs at between two and five times the rate of those who do not run their own business. The stresses of building a business can cause depression, or can at least aggravate pre-existing conditions. Since your mental health has a direct effect on your ability to make a success of your business, it’s important that you take care of it. Disconnecting from your business and giving yourself a rest every now and then is a good idea. So is visiting a therapist.

Success Takes Time

Certainly, you will dream that your company makes it overnight. It’s important to understand; however, that success doesn’t usually happen very quickly. You don’t start managing a turnover of millions or leading a team of brilliant employees within months of launching your business.

While there are a few exceptional businesses that do it, most need to work their way up a never-ending path. It’s important to go in ready for it, to enjoy the journey, and to not constantly compare yourself to other entrepreneurs and their success stories. You will need to find a mentor, network with others, and understand how to run a business better than anyone else. It’s important to understand that behind the scenes, there often is endless labor, rather than instant success.

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