Learning the Hard Way is Great, but Not Fun
This is a contributed post and may contain affiliate links. The thoughts and ideas expressed may not be exactly what the ghostwriter Scott Sery believes. But he did read it, and signed off on it, so it’s at least pretty close.
Starting a business is undoubtedly super exciting and can come with many thrills, but it can also be something that quickly becomes humbling.
Clients aren’t always what you expect, and the industry changes at a speed that you hadn’t anticipated. Money flowing in and out of the business can be a source of trouble as well, and it won’t always go according to your plan.
Every entrepreneur learns hard lessons along the way, but that is part of the journey. Some are about being more patient, others are about people, but the most valuable ones usually come from making small mistakes that teach you big things about your business.
The Importance of Understanding Your Numbers
Many founders start with plenty of passion and creativity. They know that their product is good and they know it inside out, but they hesitate when it comes to creating things like spreadsheets. That’s one of the first major lessons that they go through: you need to be able to know numbers.
It’s not enough to be able to look at your bank statement at the end of the month and go, “Wow, that’s how we’ve done this month.” You need to understand where the money comes from and where it goes. You also need to know which activities are actually producing profit. When you track expenses carefully and price your work based on data, you make smarter decisions and avoid panic later. If you don’t handle your numbers, they are going to handle you, so you need to get control of them.
Building Trust With Consistency
Trust is another lesson that you need to learn, and it is certainly required before your business can be established. In most cases, customers don’t purchase from you when they first see you; they require/want to make sure you will do what you say.
This basically comes down to consistency. Whether you are running a design studio, a bakery, or even shopping for something personal like a used car, trust matters just as much.
When you visit a Wolverhampton car shop, you want to feel confident that what was promised on the lot matches exactly what’s delivered. The same rule applies to every business. People remember honesty, fair pricing, and turn into loyal customers when they see it happening all the time.
Learning to Let Go
In the early days, you try to do everything yourself, and it might seem like the only way to save money and maintain control, and this is completely normal. But eventually you are going to need to realize that growth will only happen if you let go of some of the areas of your business.
Hiring experts in some areas is perfectly acceptable, and you will actually thank yourself for making the move. This will likely include things like marketing and accounting.
The Ongoing Lesson
No one ever finishes learning entrepreneurship. The market is always changing, and tools are always changing too. What stays consistent is your willingness to adapt and learn as you go. That’s what being an entrepreneur is all about: building, learning, adjusting, and moving forward, all one lesson at a time.