Top Entrepreneurship Lessons Every SMB Should Know
Entrepreneurship is a fantastic experience, but it’s not without its share of challenges. It’s easy to romanticize launching a small business that’s immediately successful. However, several learnings lie in wait, ready to humble a first-time small business owner.
If you’ve hit a few bumps on your entrepreneurship journey, don’t take it as a sign to stop. Nearly every small business owner has experienced the same issues you’re running into. No one is immune.
We compiled a list of the top lessons about entrepreneurship to help you see the light at the end of the tunnel.
5. The highs are high, and the lows can be anxiety-inducing
Entrepreneurship can be full of wins, but you'll encounter a few "Ls" along the way. There will be days when you have a ton of clients and days when you have none. Or days when everything is working perfectly, and then it's all broken the next day. That's an entrepreneur's life. Form a support network of SMB owners who can help you through challenging days or celebrate your wins.
4. Don't compare your hustle to others' highlight reels
It's easy to get jealous of entrepreneurs on social media who appear to be overnight successes. But remember that they've hustled hard, too (just like you are now). In fact, sharing your challenges could be inspiring.
"Posting your experience on social media and letting others know your struggles and how you overcame them can connect you more deeply with your super niche and inspire them to start their own journey,” says Arthur Wang, founder of Fud, Inc. — a mobile app for solopreneurs and small business owners.
3. Do yourself a favor and set boundaries.
You can't be on 24/7. If you don't take breaks or set boundaries with your time, you'll burn out and put your physical and mental health at risk. For example, sleep deficiency leads to many chronic health problems, including heart disease, kidney disease, high blood pressure, diabetes, stroke, obesity, and depression, according to an NIH report. Keep in mind that rest is a necessity, not a reward.
2. Step outside your comfort zone.
If you’re naturally introverted or shy, you’ll need to become more social to effectively network, grow your client base, and promote your business. You might need to network with strangers, promote your business through public speaking, or learn new skills to stay competitive. Daunting? Definitely. But it’s essential for growth and success. Plus, you'll gain confidence and open new doors for your business.
1. Ask for help.
You’re going to wear many hats and be responsible for countless tasks. You will feel overwhelmed. That’s normal. One of the most important things you can do is seek help.
Lean on your network of mentors and fellow entrepreneurs for support, advice, or help manage tasks. You can't do it all alone, and there are people willing to lend a helping hand.
Reach Out to Us for Help
Origin Story can help you through your entrepreneurship journey by providing marketing expertise that will reduce your workload, generate brand awareness, and drive sales. Contact us to learn how we help small business owners.