4 Things I Wish I Knew Before Starting Business
Starting a business is tough, and I learned this firsthand when I left my long career in finance to pursue coaching, consulting, and writing. Here are four key lessons I wish I had known before diving in.
- Self-discipline is crucial: As your own boss, there are no set deadlines or performance reviews. I struggled initially with organizing my time effectively and staying focused without the structure of my previous career. To combat this, I created a strict schedule and set clear goals and key performance indicators (KPIs) to measure my progress.
- Choose clients and partners wisely: Not everyone will be a good fit for your business, and vice versa. I made the mistake of working with anyone who showed interest, but I later realized the importance of aligning with clients and partners who share my values and goals. It’s better to work with fewer, high-quality clients and vendors than to spread yourself too thin.
- Combat loneliness: Transitioning from a team environment to working solo can be isolating. I found ways to add human interaction into my day, such as scheduling regular lunches and engaging with my network on social media. These interactions help me stay connected and combat feelings of loneliness.
- Build a strong network: Initially, I viewed others in my industry as competition, but I soon realized the value of building a supportive network of peers. Networking with fellow authors, coaches, and professionals not only provides valuable support and insights but also opens up opportunities for collaboration and growth.
By learning these lessons early on, I’ve been able to navigate the challenges of entrepreneurship more effectively and build a successful business.
Re-reported from the article originally published in ENTREPRENEUR.
