(ARTICLE) 5 Tough Things You’ll Discover In Your First Year of Entrepreneurship

Here are the 5 big lessons every entrepreneur should be prepared to learn that first year:

1. Just because a client says they’re in, doesn’t mean they’re in.

Until the papers get signed and the money is in your account, they’re not a client.

And trust me, just because someone says,

“I’m in. Let’s do this,”

it’s not real until payment has been received.

Don’t go celebrating after you get verbal confirmation.

2. Clients don’t pay you to do what they ask. They pay you to give them what they didn’t know they wanted.

This goes for ANY product or service.

People aren’t buying the bare minimum, or even the baseline expectation that you set.

What they’re buying is for you to take that expectation they have in their own heads, and then surpass it.

3. It takes twice as long, and costs twice as much.

Anytime you think something is going to take a week, plan on it taking two.

If you think it’ll cost £100, expect that it’ll cost £200.

It always takes twice as long, and costs twice as much as you originally anticipated.

Be patient, trust the process and stop rushing everything.

4. You suddenly care more about being responsible than being seen as “the boss.”

Now that I’m on the other side, and I actually have started a company, I see where aspiring entrepreneurs misunderstand responsibility for “being the boss.”

many young people (my peers) want to start companies so they can “be the one in charge.”

But what you don’t realise (until you’re in it) is that being responsible is hard work.

And the moment you’re actually in that position where you are responsible, you truly no longer care about being seen as “the boss” or “the leader.”

All you’re worried about is making sure everyone can eat, everyone is happy, and your company is moving forward.

5. There will never be enough time. Ever.

Part of being an entrepreneur, I’m learning, is accepting the feeling that you still have a million things on your To Do list.

You will never feel like you’re “done.”

In your first year or two, You will never wake up, stretch your arms and say, “Today is the perfect day to do nothing.”

You’ll consistently feel pulled to work on your business.

Which means the challenge is knowing that temptation will always be there, and still make time to step away and enjoy life too.

Till next time.