The Biggest Lessons You Can Learn from Your First Year as an Entrepreneur

Starting a business is an exciting journey. Along the way to turning your ideas into reality, you are to learn many things about business, life, and yourself. Some of these things you will learn in an easy way, others in a hard way. But, in the end, it is all worth it!

The first year of your entrepreneurial journey may feel like you have no idea what you are doing. It can be stressful and frustrating, at times even devastating experience. You may never feel in control and often you may feel like quitting.

The truth is that it doesn’t get easier with the years. You get tougher through the lessons you learn. The first year of your entrepreneurial journey will give you the fundamentals for building your strength. Embrace it!

You don’t have just one role

In school, we are thought that we need to choose a career path – to decide if you want to be an accountant, a lawyer, an engineer, the list goes on and on. When you start your company you will soon learn that you don’t have one single position to fill. You will be a marketer, a sales executive, the head of HR, the cleaning person, you are the whole company.

Action is everything

Planning and strategizing is very important, but, in order to achieve real results, you need to get moving. You will learn much more through trial-error than through reading books and taking online courses. Find the balance between both and you will be unstoppable.

Obsessing over the competition leads to nowhere

There will always be someone better than you, someone, who has more money, more experience, better team, and many other advantages. You will learn that comparing yourself and your business to others won’t lead to anything good. Better focus on yourself and how you can get better than focusing on the competition. Keep an eye on them, but don’t get obsessed.

It is a marathon, not a sprint

First-time entrepreneurs are eager to succeed and work to complete exhaustion in the very beginning, yes, hard work pays off, but it can lead to burnout and an emotional breakdown. You will learn to prioritize better, to delegate and to balance long-term and short-term goals. You will learn that success is built brick by brick, not overnight.

Networking is the key

Many entrepreneurs say that they find networking unnecessarily because it takes up so much time that can be spent on the development of the business. Yes, networking takes time but is the key to growing your business. Every successful entrepreneur knows that having a strong support system is essential.

First-time entrepreneurs may feel lonely in the beginning of their venture and attending networking events is the best way to beat the entrepreneurial blues. You will have the chance to meet like-minded people, fellow entrepreneurs, maybe even the future members of your team, partners and, last but not least, potential investors. Networking is king and you will learn not to underestimate it!

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