When you start a business, you become a student of sorts. Some lessons you learn right away; others take months or years. Business owners learn about themselves, their industry, the importance of teamwork, and the sting of sacrifice when they start a business. The things you learn when you start a business can determine whether or not your business lasts long enough to be successful.
Here are 5 things you learn when you start a business – how many of these lessons have you learned so far?
5 Things You Learn When You Start a Business
1. Sacrifices are simple to make, harder to maintain.
So far, you may have learned that sacrifices are relatively simple to make – taking on credit card debt, working long hours, giving up time with family and friends – but much, much harder to maintain. In times of high stress, we are forced to prioritize our tasks. Some tasks we normally view as important fall to the wayside.
That’s normal for a short period of time. Now that you know sacrifices are easier to make than they are to balance and live with, you’ll be more critical of the sacrifices you make for your business.
2. You can’t do this alone.
Sometimes, this lesson feels like a punch to the stomach. You try your absolute hardest, doing everything you know to do in the best way you know how, and still, things don’t pan out. Is it because you’re not a good business owner? No. It’s because you’re learning through real-world experience that you can’t possibly do this alone.
It takes a team that complements your weaknesses and builds on your strengths to bring your business to success. Read our post about finding and hiring a remote team here.
3. The line between invincible and failure is awfully thin.
Some mornings, you wake up feeling invincible. Your business model is perfect, your audience is responding well, investors are interested – how could things ever go back to the way they were? You’re on your way to success now! Then, a mishap or problem occurs. Things go wrong.
Suddenly, you’re feeling more like a failure than an invincible superhero. Learning how quickly things can change in the world of business certainly makes you more humble. That’s not a bad thing.
4. Life seems to have a deeper meaning now.
Many business owners report that their sense of purpose deepens when they start a business. If you’ve started a business due to a passion or strong internal drive to change something, running that business will give your life a deeper meaning. Things start making sense.
You understand past challenges you’ve gone through have helped you on your way to this very point in your life. You start to see the forest instead of just the trees.
5. You want extra time more than you want money (sometimes).
In the beginning, money may have been your prime pursuit for business ownership. Plans to get rich, try to, or just make a living often precipitate the start of a new business. But once you’re in, you realize that the time commitment is serious.
Now, free time sounds like a fairy tale myth. You’re willing to pay for services and tools that help you save time and work smarter. You start focusing on productivity instead of paychecks.
These are 5 things you learn when you start a business. There are certainly many more lessons that business owners learn in the beginning of their venture – we’d like to hear from you on what those lessons are.