Connect with us

Business

7 Truths Of Entrepreneurship No One Tells You

Published

on

Founders sitting around outside table

Being an entrepreneur is a high-risk and high-reward journey that only few can withstand. Nowdays, becoming an entrepreneur seems like a worthwhile pursuit. Afterall, you get to be your own boss. You make lots of money, right? And best of all, you get to wear the much sought after badge of honor – that you’re a part of the 1%. Much of that is fiction and the reality of entrepreneurship is hardly anything like what the media and entertainment industry portrays. Everyone knows entrepreneurship is difficult, but very few know just how difficult and what the journey is actually like. Here are the 7 Truths about entrepreneurship that very few people will tell you.

1) No One Cares That You’re An Entrepreneur

lonely entrepreneur facing wall

One of the perk of being a self proclaimed “entrepreneur” is that you’re among the special few. Nothing could be further from the truth. Once you become a recognized “entrepreneur”, you’ll realize just how many of you there are. And no one really cares about one another. No one thinks about you, cares about you, or believe your idea is special. At least not yet. As hard to swallow as it is, people don’t care that you’re an entrepreneur as much as you think.

2) You Never Escaped The 9-5

Store open sign

Another common reasons people become entrepreneurs is to escape the traditional nine to five work week. I hate to disappoint you, but that’s literally the complete opposite of what will happen. Not only are you not going to escape it, you end up having to work the ten-to-two in addition to the nine-to-five. You’ll miss the days where you get to relax and stop thinking about work after 5PM. And you’ll certainly miss only having to work 40 hours a week.

3) Someone Already Did It

Female founder working

You became an entrepreneur because you thought you were doing something unique and cool. And you also thought that you were the only one in the known entire universe that’s ever thought of that idea. Oh boy, you couldn’t be more wrong. Little did you know, you’ve been typing in all the wrong keywords on Google to find your competitors. The moment you begin to seriously research your competitors, you start to find them. And you’ll also realize that in many cases, your competitors are older than you, more experienced, and have more funding. Prepare to be demoralized.

4) No One Wants To Give You Money

Founder pitching to investors

To make matter worse, no one wants to invest in your idea at this stage. If you’re just starting out, you likely have very little to show for. And savvy investors want to put their money where they will have the highest chance of getting a return of investment, and you’re just not it, not yet at least. But along the way, you’ll realize just how difficult fundraising can be. For most entrepreneurs, it takes anywhere between 6 months to a year to secure their first round of funding. For some, it will take even longer. So if you’re in need of capital, be prepare to play the long game.

5) You Stopped Loving It

Frustrated founder

And the tragic truth will seek you out one day. One day, you’ll sit at a coffee shop waiting for your next meeting to show up. You’ve hardly slept the night before. You can’t even sort out all the tasks you haven’t done this week. As you’re sitting there, you can feel both your energy, hope, and aspiration dwindling. That’s when you realized you no longer love what you do. You started this journey because you believed that it was something you loved and that you could spend the rest of your life doing. After all, that’s what everyone’s been telling you, that you need to pursue your passion. And here you are, out of money, out of luck, and out of fuel.

Every entrepreneur will eventually come to the point where passion no longer fuels the journey. This is the most critical point in your entrepreneurial pursuit. Because this is where most people get up and walk away. The ones who succeed recognize they need to seek out something more than just a passion, they need a real purpose.

6) Everything Works Out As Long As You Stay In The Game

Successful businessman

And for those with unbreakable will and perseverance, you’ll be rewarded in the end. You’ll soon realize that as long as you stay in the game long enough, you can succeed. Sure, there’s likely to be a lot of pivoting and changing your business plan. But that’s all a part of growing and evolving your company. One day you will get the funding you want. One day, your product will finally find a place in the market. And one day, you’ll be living the life you once dreamed of.

7) It’s All Worth It In the End

Business people fist bumping at table

This is what every successful entrepreneur will tell you. And that it’s all worth it in the end. You’ll realize it’s called a journey for a reason. It’s a long, tough, and challenging journey that’s meant to break even the bravest adventurers. You’ll look back and miss all the fun and excitement of figuring things out. And you’ll laugh at all the silly failures you didn’t see until much later. If you stick with it until the very end, you’ll find out that it was worth every ounce of sweat and tears.

 

Continue Reading
Click to comment

Leave a Reply

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

Business

5 Behaviors That Separate The Successful From The Average

Published

on

behaviors

Many of us wish to be Bill Gates, Warren Buffet or even Mark Zuckerberg. These people are some of the most successful Americans today. They are worth billions of dollars and are at the helm of successful companies. Aside from wanting to be like them, many are also asking what they did to become successful. We want to know what behaviors and characteristics they have that helped them succeed. Here are behaviors of successful people you will want to emulate to help you become triumphant.

1. They Initiate

Successful people are not happy with the bare minimum. They like going the extra mile. For example, aside from knowing how much an item costs to acquire, they also want to learn about better products, discounts or how they can save. They do not wait for other people to tell them information. They initiate and ask questions because they want to learn, make recommendations, pitch ideas or offer to help. This is because success requires people to become proactive. Successful people are on the offense not defense all the time.

Initiation takes risk. By putting yourself out there you could fail. Conversely, you can also fail by not doing anything.

2. Thrift

Frugality or thrift is defined as “the quality of using money and other resources carefully and not wastefully”. They don’t live beyond their means or try to keep up with the Joneses because they know that there will always be other people who are more successful than they are. Successful people also know the value of money which is why they are not too keen on burning it quickly. They know the hard work they put in earning that money and wasting it on frivolous items is counterproductive.

Successful people like Mark Zuckerberg do not flaunt what they have. He drives a $30,000 Acura and Michelle Obama wears Target and recycles her wardrobe.

3. Persistent

Thomas A. Edison said he did not fail 10,000 times. He just found 10,000 ways it did not work. Many people are willing to accept failure, but successful people embrace these failures and learn from it. They use it as a stepping stones that can help them reach that “aha” moment. Successful people are adaptable and do not give up immediately which is a big reason for their success. These behaviors help you progress as you try to reach your goals.

The same is true for bestselling author JK Rowling. She got 12 rejection letters and was told “not to quit her day job” before the daughter of a Bloomsbury editor demanded the rest of Harry Potter and the Philosopher’s Stone. The series is now the fastest selling book in history and has a combined sales of $450 million.

4. Intuition

Successful people listen to their gut instinct. Even if other people told them not to do it, they did so anyway because it felt right to them. Intuition goes hand-in-hand with fearlessness and not doubting yourself which are traits that keep people in low-paying jobs. So listen to your instincts. Do what you think and feel is right.

5. Passion

Passion is believing in something that is sometimes impossible. Successful people are passionate and they use this drive to do things other people have not thought of. They love what they do and it is this drive that pushes them to become the best in their field which in turn makes them financially successful. When you don’t love what you’re doing it shows in the results of your work which in turn affects your pay.

People who are inspired and passionate create new opportunities which can open new doors that lead to success. Steve Jobs for example, was often labeled as “crazy” or “eccentric”, but there is no doubt to everybody that he is passionate in what he did which in turn made him a very successful and wealthy man.

The difference between successful people is not just old fashioned luck. Successful people have behavior that helps them tackle mediocrity and stay on top of their game while other people complain about money. Success is the result of hard work; dedication and gratitude for people who helped them achieve it. Hopefully you can nurture these behaviors and let them grow to help you become successful in your own right.

Continue Reading

Business

8 Bad Career Tips That Keep You From Being Successful

Published

on

career tips

Every human strives for success in his or her respective fields. Achieving success is not magic. You need to work sincerely to achieve wealth, respect, and security for the entire life. Anyone can attain success, but you need to make wise decisions for your career. Some successful people can give you some valuable tips, but all may not be effective for your career path. So, be cautious about what you hear. Accept the right career tips, and you can be a winner.

1. Asking for a raise and promotion

Do not believe that if you work hard, you will be noticed by the management. However, this is not the reality. No matter how many hours you spend at the office, that does not necessarily promise you a reward. You need to take the initiative to show your performance to the management. Make yourself visible to the authority. Ask for the raise you are worth.

2. Too much useless information

You may receive many kinds of career tips that you may think may come handy. Check the source of information you receive and then decide if it is worthy for you. There are many kinds of training programs available in the market. Some of the training are useful for a section. It may not be useful for your career. So, choose wisely.

3. Resisting change

It is an old school of thought that any kind of change is bad. If you want to be successful, you need to go with the flow. Flexibility is the key to success. Accept what is in front of you and improvise per your requirement. Do not get stuck with old theories. You need to be balanced when you accept your responsibilities at work.

4. Do not underestimate yourself

‘Below the line’ thinking is the greatest barrier to achieving success. Never lose your confidence. People will not always encourage your high thinking, but you should not doubt your capability. Overcome the challenges and move forward. You need to see study the obstacles in the true light and find ways to overcome it.

5. Manage your emotions

Challenges and pressures are a part of work life. Your attitude towards life can make or break the situation for you. You need clear thinking. You should act objectively to challenge the obstacles. Fear can make you weak. Fear makes you accept wrong advice. You suffer when you make rash decisions. Keep calm and evaluate the situation rationally.

6. Increase your productivity

People always advise to overwork. Too much work makes you dull and exhausted. The harder you work, the less productive you become in the long term. Losing one hour of sleep every day can noticeably decrease your productivity. Proper rest is very much required to get rid of work-related stress. If you want to reach the pinnacle of success, take frequent breaks.

7. Do not say ‘yes’ too often

The more you deliver, the more people expect from you. Everyone believes that if you accept all the duties, the management will notice your efforts. However, that is always not true. You know your limits and do not go beyond that. One of the best career tips is learning to say ‘no.’

8. Do not yearn to be a perfectionist

Perfectionists spend more time on every work to make it perfect. If you put too much effort on smaller things, you miss out the bigger perspective. It reduces your productivity. Be sincere towards your work. You have limited time to finish your work. So, do not waste time to make it perfect.

Continue Reading

Business

Why Your Monday Emails May Be Ignored

Published

on

monday emails

Are you click-throughs and open rates declining? Are your recipients not responding to your emails? Many people are wondering what is the best day to send emails and if Monday is the wrong day to send them. While there are many studies showing that Monday emails are the worst, there are still people who feel that Monday is the best day to do so. So, why is Monday the worst day of the week to send emails?

Busy Start

As the first day of the work week, Monday is usually the busiest day for most people. This is usually the day when meetings for the week are scheduled, tasks delegated and reports regarding the past week come in. If you’re a supervisor, you need to wade through scheduling, reports, meetings and correspondence first thing so that your week can be productive. Sometimes, Monday emails get lost in the shuffle especially if the person wants to hit the ground running. This is especially true if the email is not headlined correctly. It can fall through the cracks and be forgotten. If you want your email to be opened, make the subject attractive and compelling to catch the recipient’s attention and to make them click your email open.

You and Everybody Else

Monday is the worst day to send emails because people who want to be noticed immediately usually send their emails during the weekend. This means that you and everybody else are vying for the recipient’s attention. For many people, Monday is usually the day where your mailbox is full especially if you tend to go off grid during the weekend. This means that when you open your email on the first working day of the week, it is full of messages from all kinds of people including those from the office, marketers, relatives and your boss. Monday is when you to compete with everybody else.

Urgent First

People like to schedule their work week on Mondays. This means prioritizing work that needs to be done immediately and delegating the less important tasks later in the week. The same is true with Monday emails. You need to open and answer the most important emails and then do the rest when you’re not too busy anymore. But you can’t control how your email is “important” to the recipient since they are the ones that decide what is and is not important to them. So if they feel that they can schedule to read your Monday emails later in the day or week, you have tough luck reaching the recipient unless they feel that you are important enough to be given first priority.

Weekend Hangover

If there are people who want to hit the ground running on Mondays, there are people who have weekend “hangovers”. They are sluggish during Monday and like to procrastinate in their work for later in the afternoon or on Tuesday (or when they want to). These people do not really feel the need to be rushed like other people on Monday so they like to take their time not only in opening emails but also in responding to them. Luckily, there aren’t many people who have weekend hangovers, unless they’re the boss of course.

Error Prone

According to a study conducted by software company Boomerang, people on Mondays tend to be error prone. The company analyzed 250,000 emails sent on Monday and they discovered that there are a lot of spelling errors and poor subject lines which resulted in low click and response rates on this day of the week. This may be because Monday is the most harrowing day of the week for most people (see above examples). They are rushed, busy, have a weekend hangover or are prioritizing emails and those with poor spelling and subject lines are usually the last to be opened.

Generally, there is really no best day or worst day to send emails. Many people dread Mondays and Tuesdays because these days are usually full of activities that need to be accomplished for the week. As the week winds down, people are generally more responsive to emails and will click and open them. The best way to get clicked on busy days is to construct an attractive subject line to entice the reader to click open and read the email.

Continue Reading

Trending