What They Don’t Tell You in the Brochure about going into Business….

Starting your entrepreneurial journey is exciting and adventurous. You are filled with hopes and dreams of how business will be for you.

You are Passionate that you can make a difference in your work by doing it yourself, financial freedom, a better life, purpose and significance.

You go in gun ho, you probably know a fair bit about the industry you are in and thought – “I can do this better than my competitors” or “I’m going to do it for myself”  So you have an idea, a plan and you go for it.

No one can tell you any different because they are not you, they don’t have your vision, you are inspired and full of confidence that this is definitely going to work, there is no other mindset.

Things are going well for the first few months, you are a business owner. You’re proud, you feel significant and important that you are making a difference.

And here is where things change….. – This is what they don’t tell you when you go into business.

Just because you know your stuff around what you do, running a business and being an entrepreneur is a whole different ball game.

Things start happening that you don’t expect. You’re getting caught up in the day-to-day operations of your business, sales are not as you had planned them to be, you start to panic. – SOUND FAMILIAR? — You thought this was going to be all rainbows and lollipops. You believed you would get the flexibility of having your own business and the financial freedom you desired. Your business plan was set, you thought you knew how it was going to play out…. You couldn’t fail.

You are experiencing some troubles in your work, or possibly the quality of your work is falling short because you don’t have enough time… You need help & reassurance…  Your family is stressed and you’re not getting the support or assistance you need.  Your not generating the business that you would like & your processes need streamlining – You’re looking for that magic pill that is going to solve all of your problems…..  You start to feel like your in a nightmare…..

Business Ownership & the Entrepreneurial journey requires a different set of skills, a different mindset and resilience.

Research says that 80% of businesses fail in the first 3 years –

WHY? It gets too hard, it is not want they expected that it would be like and they give up.

We can work in an industry for so long and understand all the in’s and outs, we can see how our bosses make all this money and have freedom & lifestyle and we want that for ourselves.

What your boss doesn’t tell you is how you need to change when you become a business owner. It’s no longer about the work, it’s about the business, it’s people management. It’s no longer what you do but how you do it and how you handle the journey.

So if you are starting on your journey and feeling like what I’ve described or you’re looking to start your entrepreneurial journey and doing your research –

Here Are Some Steps You May Wish to Consider:

–Interview people that are in business in the same industry that are 5 years in. Ask them ‘what it’s like?’, ‘What are their recommendations?’ & ‘What can you expect?’

–Stick to your plan, don’t just do a business plan and stick it in the draw, follow it. Yes you need to review it but it’s a guide to keep you on track.

–Make sure that you have the financial backing to keep you going , prepare for the worst and expect the best.

Owning a Business & being an Entrepreneur can be very rewarding…It comes with a lot of exciting & challenging experiences…the personal growth you will develop is immeasurable. At the start of the Journey, all you see are the Green pastures, rainbows & lollipops….Take a step back, take your time & be Objective.

Good Luck!

Peter Hawtin & Loretta Morgan