What Can You Expect In Your First Year As An Entrepreneur

What Can You Expect In Your First Year As An Entrepreneur?

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“If we can see past preconceived limitations, then the possibilities are endless.” ~ Amy Purdy

You might assume that the first year of being an entrepreneur is about refining and implementing business plans, understanding the market, building a strategy, marketing your business, managing operations, etcetera. While these are all important hurdles to overcome in order to build a business, the truth is that there’s an even bigger hurdle that you need to conquer. That hurdle is you.

Year One

As you leap into the first year of your entrepreneurial journey, you may find that you have more to overcome than just growing and managing a business. If you’re transitioning from being an employee to an entrepreneur, you need to unlearn certain habits and self-manage. When you’re dealing with personal insecurities, your journey may leave you questioning yourself and your abilities on a regular basis. If you haven’t built up enough of a network and support system beforehand, your journey as an entrepreneur may feel like a lonely one.

Your first year as an entrepreneur is a crucial one because it’s mostly about overcoming yourself and building confidence to grow in the entrepreneurial arena. It’s a time to really understand yourself in order to leverage your strengths and work on your weaknesses. When you understand yourself, you have a clear idea of the decisions that you’re likely to make and how these will affect your business. When you know your strengths and weaknesses, you understand what you should manage and what you should delegate in the best interest of your business.

Your first year is also a time to learn from successful, experienced entrepreneurs who can share life lessons that’ll help you to avoid unnecessary detours. The entrepreneurial journey can be smoother when you learn from the wisdom and experience of those who have walked the path before you. Their insights may save you a great deal of effort and help to make your business more efficient.

If want to start your entrepreneurial journey on the right foot, use the following as a starting point.

Get to know yourself

Spend time alone and reflect on your personal contribution to your business. List your strengths and weaknesses, consider how these will impact your business, and determine which skills you still need to learn or employ. You can also take a personality test to help you to understand yourself in a deeper way.

Build your support system

If you have a family, bring them on board by getting their views on how the business will affect everyone and how you can strike a balance. Establish a network of contacts and fellow entrepreneurs who can support you on your journey. Agree to make regular contact and share knowledge

Change your space

If you work from home, strike a balance between working there and working at a different location (e.g. coffee shop, library or co-working space). If you’re based at a fixed location, make time to attend virtual or in-person networking events. This helps you to meet other people and come across opportunities that you didn’t know existed

Your first year as an entrepreneur is filled with a great deal of learning and changes. If you stay focused on your vision and view this period as an opportunity to grow, you’re likely to make a significant, positive impact in the entrepreneurial space.

You need a professional coach to support and guide you toward success. You need a partner that can help you to build and reach your goals. Click here or email us to discover how our coaching services can help you.

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