5 Mistakes New Entrepreneurs Make (And How To Avoid Them)

Business leaders who idealize ownership set the new entrepreneur up for failure.

It’s easy to feel like you are the only one who isn’t getting it when no one is telling you the whole truth about how it all works.

 

Entrepreneurship isn’t for the faint of heart — and it isn’t impossible.

Knowing what to expect and having a solid strategy are key components to a successful and profitable business.

Having spent time in the corporate world as well as helping businesses, I’ve learned a few things about the ins and outs, ups and downs. Here are a few important points.

1. Leaving your job — even one you hate — can be hard.

There is a lot to be said for familiarity and consistency. It’s not strange if you find yourself missing a job that you are glad you left.

2. It’s okay to want a hobby and not a business.

Running a full-fledged business isn’t for everybody. Do you have a thing you love to do and people like to pay you money for it? Great! There is no shame in getting paid to do something you love.

3. You’re probably more attached to that title than you realize.

Job titles give us immediate status. Now that you have ventured out on your own, you can call yourself whatever you want, but it doesn’t lend the same sort of credibility — yet.

4. Business plans don’t have to be boring.

No, really. They don’t! It’s actually an exciting time to explore what you are passionate about and start dreaming big dreams.

5. Not everyone will be happy for you.

There are people who will feel threatened by your decision and will be happy to tell you all about the hard economy and rates of business failures. These are not your people.

There’s certainly more that can be added to the list, what is something you’ve learned that no one warned you about?

Share with us in the comments.