Lessons that most entrepreneurs learn the hard way
Being an entrepreneur is living through risk and failures. A great idea is never enough to make businesses soar, it takes a strong team, tons of patience, lots of failures millions of tough decision-making days. It is a long and exhausting cycle that is loaded up with moments of success and failures, and sentiments of self-uncertainty. People who get successful in entrepreneurship grasp these lessons and use them as fuel to move further along the way.
Let’s look at some important lessons that most entrepreneurs learn the hard way.
No matter what industry your business functions in, you will always have chances to learn. Most successful entrepreneurs set out time for learning and reading. They are constantly motivated to learn and will never miss an opportunity to expand their knowledge.
‘’My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had – every day I’m learning something new.’ – Richard Branson, Founder of Virgin Group
Time is the greatest resource
It is imperative to value time and understand the sensitivity of time in your business. Most businesses fail because of untimed decision making. The startup ecosystem is highly time-sensitive and with every passing minute, a new change occurs. So keeping up with time and prioritising time over everything is extremely important.
‘’Get clear on what gives your life value and what your time is worth’’- Kevin Harrington, American entrepreneur
Believe in yourself
Most entrepreneurs stop believing in themselves after a few setbacks. They start questioning their worth and their decision of starting the business. Don’t let that happen to you. If you lose your ‘spark’ of self believe, how will anybody else trust you and your business?
‘’Don’t let the noise of other’s opinions drown out your own inner voice. And most important, Have the courage to follow your heart and intuition.’’- Steve Jobs
Build a strong team
You can’t win the world alone. You have to walk with a team and a good team has the ability to take the business at higher levels and grow. A team should have people whose strengths and intelligence complement each other. People are the greatest investments in business and choosing the right people will bring success to your business.
‘’Your team is one of your most important investments, and if you are careful about hiring only the best people, it will pay dividends.’’- Sheila Johnson, CEO, Salamander hospitality
Passion chooses you
Most of the times, entrepreneurs push themselves to find interest in things they don’t like, just because that particular thing might provide them with potential growth opportunities. But as Confucius famously said: “Choose a job you love and you will never have to work a day of your life.”, it is important o choose your passion when it comes to startups. You can’t force yourself to find interest in random things, you won’t be enjoying what you do. So follow your passion and enjoy what you do.
‘’One of the huge mistakes people make is that they try to force n interest on themselves. You don’t choose your passions; your passions choose you.’’- Jeff Bezos, Founder and CEO, Amazon.