So...What’s The Backup Plan? | When you’re an entrepreneur, you will always have people asking you what if questions. Often times, we have these things lined up and the last thing any person on a new business venture wants to hear is what if their plans fail. It’s important to keep sight of what you bring to the table and not what to do if you do not succeed.
How Do You Pay Your Bills? | In the initial 6-8 months a company is born, it is hard to turn profits. Many business leaders either have investors or a savings going into a new venture and have planned for these monthly expenditures. It’s important to always make sure your accounts are in check before taking on more than you can afford to.
You Probably Hated Not Being The Boss | It’s true, being your own boss gives you a sense of freedom that most people do not have. However, starting your own business does not mean it is because you did not work well with others or a boss. In fact, business leaders see their success through the work their team puts out. As INC. magazine mentions, entrepreneurs don’t make choices, they create choices. If given the option to chose A or B, a truly entrepreneur thinks of a better option, C.
You Probably Don't Have a Personal Life | Running your own business definitely takes a lot of time out of your day and it is not confined to a 40 hour work week. There is a common misconception that entrepreneurs have to be hollow and live for their work. Sure, there may be a Saturday or two you have to pass on a dinner date or driving to see your family. However, as we mentioned before it is important to take time off every now and then to reconnect with your personal life.
You Must Be A Control Freak | Choosing the work you like to do and making the most of your skills definitely comes with control of your life. As an entrepreneur, it is vital to have control of your life and business, but also allowing others to take control when it’s necessary. The more your business grows, the more control you for go. A good entrepreneur hires a managerial staff to take control of the business transactions that take place when they are not readily available.
Story by: Reshma Brahmbhatt