Managing Start-Up Business Blues Entrepreneurship doesn't come easily. How will you channel the frustration of building your business in order to achieve optimal success?
By Tamieka Lee
Opinions expressed by Entrepreneur contributors are their own.
Entrepreneurship is such a rewarding life adventure and creates such an excitement in the new entrepreneur due to their accomplishment and/or level of success. Entrepreneurs are more than likely individuals with minds that go like a Duracell battery — self-motivated individuals who are goal-oriented and results-driven. However, despite the adrenaline rush, some entrepreneurs have learned that the beginning stage can also be a battleground for ambitious founders.
Many new brand and business builders who are seeking to create a legacy and construct a solid business foundation can become overwhelmed about the future of their hard work. There can be many concerns that emerging entrepreneurs are faced with in building a business from scratch, including funding solutions and proper mentorship and coaching to aid in growing the business. Other issues may include the hiring of staff and concerns of whether the business will succeed or flop.
Despite your personal growing pains, pressures of this world and data such as the Bureau of Labor statistic that 2 out of 10 new businesses fail in the first year of operations, your business can thrive. What should be done in order to sustain a positive mindset, passion for your growing business and an energetic entrepreneur spirit despite setbacks and contrary evidence? Here are a few tips to help you stay confident and effective so that you have a flourishing brand and/or business venture.
Related: Starting a Business Isn't What You think. Here's What to Expect Instead.
Three tips to help you stay focused on your goals
1. Grind. Remember that you are a leader, and leaders assess and initiate creativity and responsibility in ever-changing situations.
It is imperative to put in the hard work and necessary amount of effort and labor that is needed to achieve the level of success that you envision. Your business does not have to fail within the first or second year. It is said that "you cannot separate the brain from the body." Likewise, you cannot separate an arising and profitable business from hard work and dedication.
Crush all obstacles, move strategically and keep your skills sharpened in the process of forming or growing your business. Have a targeted objective of your business goals and make adjustments daily. Execute the necessary quality time and attention to your business and watch the rate of return on your investment pay off.
2. Network. There are going to be times when the doors will be slammed in your face and you will hear, "no," "not qualified," "not in business long enough," "revenue unsubstantiated," and the list go on and on. This is one of the main reasons why networking with other successful business owners and brand builders is helpful.
Their knowledge, challenges, obstacles and expertise can be an excellent benefit to your success and likewise. Forming business relationships and partnerships can provide you with the encouragement and mental support you need when you feel like giving up after encountering roadblocks. Others can assist you with how to build personal credit, business credit and scaling your business.
Every proprietor needs accountability partners, celebratory updates when you win, and those who can keep you from failing and stand with, aid and assist you if your business heads in the wrong direction. Networking is about sharing with others in a genuine manner and not having selfish motives and ill intentions.
Having a professional network can help you gain new insights and advancement opportunities on growing your business. The transferring of information can strengthen every owner's business etiquette. This is a chance to offer and receive impactful instructions, opportunities and be resourceful. In this manner, the tables can turn and now the answers are "approved and yes."
Related: How Networking and Relationships Propel Entrepreneurs to Succeed
3. Stay patient and hopeful. Ups and downs are a part of every aspect of life and the start-up process, and growing and maintaining a business is no exception. But, as an entrepreneur, having a positive mindset and a daily "go get it" attitude will take you a long way.
You've come too far to give up on your dreams and aspirations. When things seem overwhelming and out of your control, focus on what you can do today and embrace every step of your progress. Reward yourself for your small accomplishments, because every step of achievement matters. Seek calmness in the face of negative outcomes, adversity and frustration. Believe in your products and services and trust the path that you are on.
Related: 10 Ways to Stay Motivated as an Entrepreneur
I have learned that with starting and growing a business it is not a prerequisite to be submerged in defeat and doubt. It is not law that every start-up will fail. Every success first begins with a thought of success. As entrepreneurs, we must constantly analyze every detail of our business, not act too swiftly and prepare for the inevitable. When things seem to go haywire and steps taken to grow appear to stagnate, this is the time to reflect, research and be prepared to reign. Don't let business blues get you down but learn to manage them well.
