Startup struggles: how to handle the issues new business owners face
Let me begin by saying that starting a business is a wonderful thing, the sense of freedom and autonomy it gives is exhilarating, and it really does make you feel as though you are in charge of your destiny.
However, the struggle is real! Building a business is far from easy and the early stages can be particularly traumatic at times. You’ll probably have to work harder than you ever have in your life to make your business a success, and to cap it all off it can be an emotional roller coaster. Here are just a few examples:
- Lack of discipline and time-management when you’re not confined to rules and regulations, except the ones you impose
- Dealing with disappointment when you don’t hit those milestones, a deal doesn’t transpire, or the business you had in your head is proving difficult to create in reality
- Maintaining momentum when the motivation isn’t there
- Handling naysayers
- Deciding what to do next when that marketing you invested in didn’t bring in a single sale
- And the list goes on…
This is why I’ve decided to begin a series of posts that tackle the real issues and struggles that small business owners like you and I face. This series will provide some practical tips on how to handle them.
My goal for these posts is threefold;
- To encourage you
I want you to know that you are not alone and many business owners face the same difficulties that you do.
- To provide a balanced view of the realities that come with starting a business
Motivational stories about the joys of starting a business are great, but having started a business myself and watched numerous others start and grow businesses, I feel that sometimes the picture painted is a lot more rosy than the reality. I think it’s important to both encourage business owners but also be real about the common challenges that they may face.
- To give you practical tips and guidance that will help you weather the storms
It’s widely reported that half of businesses don’t survive beyond five years and a significant number fail within the first year. My personal belief is that a fair proportion of these failures boil down to the fact that people are unaware and ill-equipped to deal with many of the issues that they will inevitably come up against. I aim to provide advice and tips in these posts that will build your resilience as a business owner, and help you plough through any difficulties you may encounter with gusto!
Here’s the first post all about how to be disciplined as a business owner and build a business that has a strong foundation, be sure to pop back for future posts in this series.