The following is an article “DIY Entrepreneurship 101” by Marc Primo.
Venturing into a startup business on your own may seem simple enough on paper, but it takes a lot of preparation, patience, and discipline to get a business off the ground and keep it afloat. DIY entrepreneurship might mean that you can be your own boss and allow yourself to enjoy a certain form of independence, but there will always be standards for how things work, trends that you should always keep an eye on, and people to work with and please. In short, going solo in business has its own rules you should learn and always follow.
In this article, we shall tackle some of the challenges that you might encounter if you decide to go into a business on your own or with a small team, and how you should deal with them. While setting up all you need for a startup can be a bit daunting, everything will eventually fall in the right places a long as you know what matters most in business-- YOU.
Always cheer yourself on. How do you react when you are criticized by others or given some feedback that’s really not to your liking? Being on your own in business means that there’s no one or very few people to pat you on the back when you do a great job. What’s worse is that sometimes, even more people will criticize you when you fail. That’s why it’s always important that you learn to develop that drive to push towards success no matter what hurdles are ahead. Social media can be a mean bully but always keep your priorities in perspective and use comments and suggestions as tools that can lead to improvement. In business, most successful ventures are rooted on how the company adopts positive practices and culture. If you are willing to go through a startup venture on your own, make sure that you also have a positive mission, attainable vision, and commendable values that can weather any commercial storm.
Be healthy (and happy) for longer working hours. Part of being positive is taking good care of yourself physically, mentally, and emotionally. Engaging in business will entail punishing work hours that can last until the wee hours of the morning, especially if you are just starting to build your brand. Be patient and learn to take a breather so you won’t give in to stress. Treat yourself to a nice dinner when you close a deal because you definitely deserve it. Your aura can be sensed by the network of people you’ll be doing business with much like how dogs can smell fear. So be sure you’re always well-groomed, in the pink of health, and radiating with confidence when you face your stakeholders.
Mind your responsibilities. A couple of things come to mind here when the conversation steers towards responsibilities-- time management, business acumen, and financial proficiency. Business will always keep you busy and it’s okay to hire a personal assistant to keep tab of your daily tasks and appointments. But if you can’t afford an assistant yet, make sure that you have your checklist always updated and organized. Managing your time saves money and can keep you from being tired. as well There will also be times when you have to make an important decision regarding vital matters of the business so you have to know how everything works-- from reconciling your credit cards, balancing sheets, and keeping appointments. This brings us to being financially proficient so that you can be reliable to your partners in honoring contracts, paying your bills, and settling loans. Undeniably, money is the engine that keeps your business vehicle running, so keep a clear and open mind that’s always well-oiled and firing on all cylinders when dealing with your numbers.