5 Powerful Truths Every New Entrepreneur Needs To Hear - Entrepreneur

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Building your own business can be challenging and confusing. Here is what you should know.

June 25, 2021 4 min read

Opinions expressed by Entrepreneur contributors are their own.

1. It's Ok To Have No Idea What You're Doing

When you take the plunge to start a new business venture, it’s important to remember there will be plenty of times when you have no idea what you're doing. While it may seem other leaders in your industry have it all figured out, don't expect this to be the same case for yourself. Entrepreneurs can have skin in the game for ten years before you catch wind of who they are. Don't compare your progress with anyone else’s but your own. If you look back at the older work of other entrepreneurs, you'll realize they had plenty of challenges and setbacks to get to where they are.

2. Consistency Is King

The people that lead the most successful organizations and businesses climbed to the top because they didn't give up. Have a sustainable plan of how you will commit to your company and then take consistent action. Decide how and where you are going to become visible for your brand. If you plan to utilize social media (which you undoubtedly should), show up, and then repeat, repeat, repeat.

3. Prepare For Pushback and Put-Downs

As your business continues to grow, there will come a time when not everyone will agree with you. Remember, you aren't meant for every client, prospect, and person that crosses your path. You can't allow negative comments, backlash, and criticism to get you down. Brené Brown, author of Daring Greatly, tells us this, “When we spend our lives waiting until we’re perfect or bulletproof before we walk into the arena, we ultimately sacrifice relationships and opportunities that may not be recoverable, we squander our precious time, and we turn our backs on our gifts, those unique contributions that only we can make.” Don’t get caught up in using your energy on the wrong things. You can’t allow negative opinions to stop you from progressing. Put your blinders on and stayed focused on growing your business. The world needs your ideas and your passion. Don’t allow the opinions of others to slow you down.

4. Read Business Books

Reading is critical for everyone, but it is crucial for someone in the infancy of being a business owner. Setting out on your new adventure can be intimidating, especially if you have left the comfort of a 9-5 job. Spend time with leaders and immerse yourself in their knowledge and skills by absorbing everything they know. There is free information everywhere. Read books from various people such as Gary Vaynerchuck, Sheryl Sandberg, Arianna Huffington, and Napoleon Hill. Get comfortable learning the ins and outs of the strategies that worked for them and those that were a waste of time.

5. Don't Try To Take Everything On at Once

You have some long days ahead of yourself, but getting burned out doesn't make your business move any faster. In The One Thing, authors Gary W. Keller and Jay Papasan remind us that success is sequential, not simultaneous. Growth takes time. You won't gain all of your skills and knowledge immediately as these will be obtained over time with experience. With that hard-earned experience, you will become more efficient, especially with the tasks currently taking you a long time. With the right business plan in place, you can eventually hire out for certain aspects of the business so that you aren’t wearing as many hats. Don't expect it to happen all at once, though. Patience and persistence are your best defense.

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